Risk Manager

Our client in the insurance industry is looking for a Risk Manager. The chosen candidate would be responsible for carrying out the risk management function across the Group’s Mediterranean operations, including its Gibraltar and Malta insurance and broker businesses, and will serve as the designated risk management function holder for the regulated insurance operations.

Responsibilities:

• Serve as the designated risk management function holder for the Gibraltar and Malta insurance carrier business, supporting the effective operation and documentation of the risk management framework across those regulated insurance operations.
• Maintain and enhance the risk management framework across the Group’s Mediterranean operations, including risk appetite, metrics, risk-related policies, risk registers, risk assessments and emerging risks, in alignment with Group standards and under the oversight of the Group Head of Risk.
• Provide guidance and support to business units and engage proactively with senior management in understanding and managing the company’s risk obligations across the Mediterranean as applicable.
• Facilitate the preparation of risk-related materials and reports, including ORSA inputs and other risk reporting for the appropriate oversight committees and Boards.
• Present quarterly risk reporting to senior management and the Board and its committees as required.
• Assist with internal audit activity, regulatory visits and other external examinations relevant to the Mediterranean operations.
• Conduct risk training and awareness activity to help embed sound risk management practices across the business.
• Participate in sustainability initiatives, including assisting management in embedding sustainability and climate change considerations into the risk management framework and relevant business processes.
• Carry out other risk-related duties as reasonably required within the scope of the role and in coordination with senior management and the Group Head of Risk.
• Support compliance with jurisdiction-specific regulatory risk management requirements relevant to the Mediterranean operations, including governance, ORSA, risk appetite, policy review, branch oversight and regulatory reporting obligations, as applicable.

Requirements:

• A minimum of five years of relevant experience in a risk role within the financial services industry, ideally within insurance, broking, a managing agent, syndicate or another Lloyd’s market participant.
• Demonstrable experience of the Lloyd’s market, together with familiarity with market governance, broker interactions and relevant underwriting, operational or conduct risk considerations, is preferred.
• Strong understanding of insurance risk management under the Solvency II framework, including ORSA, governance and risk appetite requirements, and preferably either/and the Gibraltar Financial Services Commission or the Malta Financial Services Association regimes.
• Experience of broker or intermediary risk considerations, including conduct, operational and distribution-related risks, would be advantageous.
• Experience acting as a designated function holder or supporting a key function holder framework would be advantageous.
• University degree in a relevant field such as risk management, insurance, finance, business or economics.
• Risk management certifications and familiarity with ESG reporting frameworks, including those relating to climate change, would be advantageous.
• Experience in risk appetite, risk and control self-assessments, incident management, governance reporting and Board or committee reporting.
• Strong analytical, drafting and communication skills, with the ability to present risk matters clearly, including experience presenting to senior management and Board audiences.

Benefits:

• Annual performance bonus 
• Life insurance (2x annual salary)
• International health insurance
• Summer hours and hybrid working (according to company necessities) 
• Yearly eye screening
• Parking (after 6 months' probation)
• Payment of professional membership fees (e.g., CII)
• Education awards for professional qualifications
• Sponsorship for job-related training
• 40% discount on personal insurance policies (after 6 months' probation)
• Employee Assistance Program (confidential support service)