Insurance & Underwriting Risk Senior Analyst

The Role:

We are looking to appoint a Senior Risk Analyst to support a growing insurance and underwriting risk team in a specialty (re)insurance group. Our vision for the team is to turn risk information into clear, practical insight that helps management make better decisions. This role offers visibility, professional growth, and opportunity to make an impact within a second-line risk environment.  

The role is varied and multi-faceted. It provides analytical support across a broad range of insurance and underwriting risk activities, helping to ensure that risk exposures are identified, monitored and reported effectively. You will work closely with stakeholders across the business, including Underwriting, Capital Modelling, Reserving, Pricing, Exposure Management, Portfolio Management and Outwards Reinsurance teams. Overall, the role will support the existing capabilities of the team across reporting, governance, monitoring and review activities.

Responsibilities will include:

Risk appetite, metrics, and reporting

• Support the annual risk appetite refresh work and monitor risk appetite, limits, and key risk indicators for quarterly reporting, monitoring and onwards Board governance
• Support the production of quarterly Insurance & Underwriting Group Risk reports, including dashboards for Board and leadership team risk reporting, and strategic risk reporting
• Support the identification and assessment of strategic and emerging risks, including their potential impact on underwriting activities, exposures, and portfolio resilience

Model governance, Own Risk and Solvency Assessment (ORSA), business planning and insights

• Support model governance, model change activities, and targeted validation of key models, working with external validators where relevant, and assist with the tracking of agreed actions and recommendations
• Support Business Unit (BU) risk teams with activities feeding into ORSA processes, including scenario analysis and stress testing
• Support the analysis and information gathering activities that contribute to the second-line review of the business plan
• Support the team with the production of risk opinions, risk insights, and other thematic / deep dive reviews

Partnering, challenge and ways of working

• Build relationships with first-line stakeholders and local Risk teams
• Support the continued development of the Insurance & Underwriting Risk team’s capability across the Group by suggesting and helping to implement improvements  
• Build knowledge of the specialty business, its classes and portfolios, and contribute to team training and knowledge-sharing sessions

Skills and Experience:

Essential

• Strong technical foundation in Pricing, Reserving, Capital modelling, Exposure Management, Portfolio Management, or other related discipline.
• Knowledge of the specialty (re)insurance market and its key classes of business
• Ability to identify the “so what”, and clearly articulate it
• Mindset: curiosity, collaboration, and continuous improvement
• Communication: concise papers and confident engagement with stakeholders at all levels, including senior colleagues
• Strong analytical and numerical skills applied to insurance and underwriting risks, with the ability to interpret information and draw meaningful insights.

Desirable

• Prior experience in a first-line technical role, requiring quantitative analysis
• Understanding of the second-line role within an organisation.
• Interest in using AI-enabled tools and other technology to improve analysis, insight, workflow efficiency and ways of working.
• Comfortable working on qualitative topics, such as governance, controls and underwriting culture, as well as quantitative analysis

Qualifications

• Degree in Mathematics, Statistics, Actuarial Science, or other related discipline.
• Progress towards a relevant professional qualification (actuarial or equivalent) would be advantageous