Financial Risk Manager

Responsibilities:

• Play a leading role in advising on the financial risks of the company.
• Providing 2nd line review, challenge, and reporting on project, commercial, and strategic proposals including Bulk Purchase Annuity deals and acquisition activity.
• Develop, review and monitor financial risk appetites, limits and scenarios, including the design of stress and scenarios included in ORSA processes,
• Produce and develop of the Company’s risk reporting, MI packs and other papers to Board and relevant Committees.
• Provide oversight and review of Matching Adjustment-related risks.
• Undertake research, troubleshooting, fact finds, and 2ns line risk reviews, producing reports on findings and recommendations, in consultation with stakeholders.
• Leading on risk assessments and deep dives to provide assurance on risks and controls to manage financial risks (including credit risks).
• Providing oversight on financial risks and working with the 1st line to ensure effectiveness of frameworks and approaches that identify, monitor and manage financial risks (including investment risks).
• Work with the 1st line to provide oversight on the application of ratings to assets and provide independent review where needed.
• Prepare ORSA Report content and review content prepared by the 1st line.
• Perform second line review of key actuarial assumptions and methodologies, including from time-to-time support independent validation of aspects of any Internal Model Development.
• Support and perform 2nd line review of financial analysis and reports prepared by the 1st line.
• Perform broader enterprise risk oversight and support the CRO in maintaining an effective Enterprise Risk Management Framework and Risk Appetite Framework.
• Ad hoc tasks as required.
• Comply with the FCA’s conduct (and senior conduct) and Consumer Duty rules and the PRA’s conduct (and senior manager conduct)
• Notify the regulator(s) of matters reasonably expected to be notified.

 Core Competencies:

• Ability to develop effective solutions to issues/problems.
• Good communication skills (written and verbal) and ability to build relationships.
• Good risk management analysis skills/understanding of risk.
• Pro-active, motivated and able to assimilate new skills/information quickly.
• Well-organised, good attention to detail, able to prioritise effectively, work independently and work to deadlines.
• Eager to learn and develop.

Experience and Qualifications:

• Qualified Actuary.
• Financial Services (Life industry or Pensions Fund/Investments) experience.
• Experience of the regulatory environment in the UK.
• Understanding and experience of investments within the life or pensions industry especially credit risk and illiquid assets.
• Previous risk management experience (1st and/or 2nd line)

Reporting to:

• Chief Risk Officer