Head of Quantitative Risk

Job Type:

Permanent

Build a brilliant future with Hiscox
 

Head of Quantitative Risk

Reporting to the Group Risk Director

London with hybrid working (min 2 days in the office per week)

Role description:  

Reporting to the Group Risk Director, this Head of Quantitative Risk role specialises in technical and actuarial areas of the risk management framework; specifically Model Validation, Stress and Scenario Testing, quantification of Risk Appetite and Limits, as well as exposure analysis and risk and control monitoring and reporting. The role will manage 2 to 3 individuals and provides support across the Group, business units and carriers and hence has exposure to different regulatory regimes operating across multiple jurisdictions.

This role offers an exciting opportunity to apply quantitative knowledge and analytical skills in Enterprise Risk Management. The exposure to all key business areas and Group provide insight into the complexity of operating within a group framework and will provide the successful candidate with an excellent foundation to broaden their career.

As a member of the Risk & Compliance function, you will benefit from a short reporting line and will have exposure to the Group and Business Unit Chief Risk Officers, giving you the opportunity to develop meaningful, collaborative business working relationships across Hiscox.

The Team:  

The Risk team is responsible for facilitating the implementation, delivery and oversight of Hiscox’s Risk Management Framework which includes risk appetites, emerging risks, model validation and incident capture and analysis operating to a three lines of defence risk management model. As a second line function, the Risk team balances its role of supporting the business with its responsibility to provide credible, effective challenge. The team produces high profile reporting that is seen by Executives, Boards and Risk Committees both at a Group level and for subsidiary legal entities. In some instances this reporting is also provided to regulators.

Key responsibilities:

• You will manage, inspire, develop and support a risk actuarial team of 2 to 3 individuals.
• Support the Group Risk Director to deliver the Enterprise Risk team annual plan.
• Lead and facilitating key areas of risk quantification work along with other actuarial team members such as:
  • Model validation of the internal capital and risk models across the Group (including for Lloyd’s syndicates). This will include understanding and challenging key assumptions, methodologies and limitations of the models, preparing validation reports and communicating findings to modelling teams
  • Aggregate stress and scenario testing exercises across the Group
  • Development of quantification of risk appetite and limits and analysis of risk profile and associated exposure.
• Play a key role in delivering mandatory and ad-hoc second line risk reviews conducted across Hiscox Group’s legal entities and business functions. No two reviews are the same and you will use a broad range of analysis, problem solving and research skills to drive insights and provide challenge to the first line.
• Support the production of regulatory processes and submissions, including ORSA, and ad-hoc risk MI and risk monitoring and reporting.
• Preparing presentations and reports for Management, Boards and Risk Committees.
• Developing business stakeholder relationships as a key point of contact on risk management issues, and work cohesively with the broader risk function including the Capital Management, Reserving, Exposure Management and Modelling teams, whilst maintaining second line of defence challenge.
• Support the continued embedding and enhancement of the risk management framework across the business.

Qualification / Experience Required:

• An experienced qualified actuary or equivalent experience with strong quantitative and analytical skills, experienced preferably in capital and risk modelling, risk appetite and model validation. Consideration will be given to those with strong numerate qualifications and applicable technical experience.
• In-depth risk and actuarial professional and commercial knowledge.
• Extensive knowledge of key risk types as they apply to retail / commercial (re)insurance.
• Proven ability and experience of leading and managing deliverables, projects and track record of managing, developing and motivating talent.
• Highly developed communication skills to work with people at all levels and ability to communicate technical concepts in non-technical commercial language.
• Strong understanding and experience of Solvency II and equivalent regulatory actuarial and risk requirements and related reporting.
• Experience producing risk reporting and presenting to stakeholders including senior management / Board members.
• Ability to identify and articulate emerging risks and external risk trends. 

Knowledge & Skills

• Enthusiastic, energetic and pro-active individual with proven experience to lead risk and actuarial topics.
• Ability to quickly understand the macro view, complexity and business needs. Be able to assess implications, see beyond current state and translate ideas into tangible plans and innovative solutions within constraints.
• A great communicator with ability to combine persuasion and negotiation skills with leadership and influencing qualities to encourage stakeholders to positively respond to questions, inquiries and requests.
• Results driven, with the energy and determination to succeed in a very fast paced environment where high quality, response time and leadership is critical
• Exercise sound judgment with views and opinions that offer commercial and technical insight.
• Ability to organise and multi-task effectively, to plan, prioritise and structure work, meet deadlines, achieve goals, and work in a dynamic and complex environment.
• Develop, manage and maintain multiple stakeholder relationships across all levels of the business.
• Ability to think on your feet and respond to stakeholders and situations professionally under pressure.
• Pride in delivery and fully accountable for areas of responsibility.

About Hiscox

As an international specialist insurer we are far removed from the world of mass market insurance products. Instead we are selective and focus on our key areas of expertise and strength - all of which is underpinned by a culture that encourages us to challenge convention and always look for a better way of doing things.

We insure the unique and the interesting. And we search for the same when it comes to talented people. Hiscox is full of smart, reliable human beings that look out for customers and each other. We believe in doing the right thing, making good and rebuilding when things go wrong. Everyone is encouraged to think creatively, challenge the status quo and look for solutions.

Scratch beneath the surface and you will find a business that is solid, but slightly contrary. We like to do things differently and constantly seek to evolve. We might have been around for a long time (our roots go back to 1901), but we are young in many ways, ambitious and going places.

Some people might say insurance is dull, but life at Hiscox is anything but. If that sounds good to you, get in touch.

Diversity and Hybrid working

At Hiscox we care about our people. We hire the best people for the job and we’re committed to diversity and creating a truly inclusive culture, which we believe drives success.

We have also learned over the past few years that working life doesn’t always have to be in the office, and now it is safe to do so we have introduced hybrid working to encourage a healthy work life balance.

This hybrid working model is set by the team rather than the business to enable you to manage your own personal work-life balance. We see it as the best of both worlds; structure and sociability on one hand, and independence and flexibility on the other.

 
Apply now for further information
 
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