Senior Risk Manager (Lloyd’s Syndicate)

Title:

Senior Risk Manager (Lloyd’s Syndicate)

Company:

Everest Advisors (Uk), Ltd.

Job Category:

Risk Management

Job Description:

About Everest:
Everest Group, Ltd. (Everest), is a leading global reinsurance and insurance provider, operating for nearly 50 years through subsidiaries in North America, Latin America, the UK & Ireland, Continental Europe and Asia Pacific regions. Throughout our history, Everest has maintained its discipline and focuses on creating long-term value through underwriting excellence and strong risk and capital management. Our strengths include extensive product and distribution capabilities, a strong balance sheet, and an innovative culture. Our most critical asset is our people. We offer dynamic training & professional development to our employees. We also offer generous tuition/continuing education reimbursement programs, mentoring opportunities, flexible work arrangements, and Colleague Resource Groups.

About the Role:

This is a key role within the Risk Function of the new Everest Managing Agency, managing our established Lloyd’s Syndicate. The position will provide oversight of our Risk Profile and Capital modeling, identification and management of our key risks and embedding of a risk culture through business partnering and support.

As an international Group, we work with other international jurisdictions to maintain an alignment with Group Enterprise Risk Management, Risk Appetite and Risk processes. As such, this role presents an opportunity work closely with key functions to build and develop risk management and analysis whilst contributing to the evolution of an international ERM.

This individual will support key quantitative elements of the Risk Management Framework for the Syndicate, to ensure strong risk management across all functions. Provide a direct link to the Actuarial, Capital, Underwriting, Reinsurance & Exposure management teams and other key stakeholders to support risk management and facilitate aspects of Internal Model governance.

Role & Responsibilities (include but not limited to):

Risk management framework

• Support the development and maintenance of quantitative elements of the risk framework liaising with other team members and key stakeholders.

• Supporting in risk assessments and reporting of the Internal Control Framework.

• Provide feedback and improvement suggestions in regard to other sections of the framework and alignment to Group ERM.

Relationship Management

• Build and maintain strong working relationships with Actuarial, Capital, Underwriting, Reinsurance and Exposure Management Team colleagues, to support collaborative working on quantitative risk elements of output, internal projects and risk management processes.

• Risk team on quantitative aspects of risk management, Lloyds and Internal Model.

Validation

• Manage the annual and ad-hoc Validation processes (including those required for Internal Model Approval Processes (IMAPs) for the Syndicate. Project Manage the validation work.

• Undertake planning, lead the liaison with internal Actuaries & external Validators and support on governance & reporting. Review and challenge Validation work performed by the Actuarial department and external parties. Undertake Qualitative Validation testing and prepare the Qualitative Report.

• Report progress to the Internal Model Steering Committee (IMSC). Manage the production of the overall validation reports for the Syndicate. Manage the closure of Validation Actions including directly undertaking those actions identified for the Risk Team.

Internal Model

• Manage the processes undertaken by the Risk Team in regard to the Internal Model including: Attendance and challenge at the IMSC, owning relevant Model Change processes, maintaining Internal Model policies and undertaking other duties on the Internal Model as directed.

• Liaise with CRO, Actuarial, Exposure Management, other teams & Cosec to set agendas for IMSC. Take minutes at IMSC if required.

ORSA

• Take an active role in the preparation of ORSA documentation for the Syndicate as required by the CRO, particularly in regard to Capital (including ensuring consistency and the methodology for Capital projection), Forward Looking Assessments (FLAs) and Stress Testing.

Syndicate Risk Management processes

• Support the development of quantitative risk appetite statements as required by the CRO to ensure they respond to changing risk profiles or regulatory requirements.

• Support team in understanding quantitative Risk Appetites.

• Provide support and training to the wider Risk Team as required, to assist their understanding, monitoring and consideration of more quantitative risk appetites.

• Take a key role in the Risk Team’s review of the Syndicate SBF, providing challenge on business plans and supporting the preparation of SBF risk assessments. Undertake sensitivity testing and support team in ORSA stress testing review.

• Create and assess risk metrics and reporting for the Risk & Capital Committee.

Stress & Scenario testing

• Take an active role in maintaining the approach to Stress and Scenario testing including reverse stress testing (RST) for the Syndicates. This will include Stress testing within SBF Risk Assessments, Internal Model Validation, ORSAs and other areas as required.

Emerging Risks, Opportunities and Regulatory Requirements

• Support the Chief Risk Officer in the development, maintenance and operation of the framework around Emerging Risks & Opportunities .

• Develop risk management approaches to new regulatory requirements or business initiatives prior to them being rolled out into BAU processes.

Qualifications:

• The role holder does not need to be a qualified Actuary, however a quantitative skillset with an Actuarial background, including knowledge of Capital Modelling is required. 

Knowledge, Skills & Competencies:

• Insurance experience in a risk or actuarial role, preferably Lloyd’s market.

• Strong understanding of the insurance market and risk, with a basic understanding of the activities and requirements of a Lloyd’s syndicate.

• A foundational grasp of mathematical and stochastic processes to contribute to the validation of capital models.

• Experience in the understanding of risk management and control concepts, application and reporting.

• Strong understanding of Solvency II/Solvency UK and other regulatory requirements; an understanding of how they impact on the business desirable.

• Ability to use the systems and software programs needed to perform responsibilities of the role.

• Strong communication and stakeholder management skills

Our Culture 

At Everest, our purpose is to provide the world with protection. We help clients and businesses thrive, fuel global economies, and create sustainable value for our colleagues, shareholders and the communities that we serve. We also pride ourselves on having a unique and inclusive culture which is driven by a unified set of values and behaviors. Click here to learn more about our culture. 

• Our Values are the guiding principles that inform our decisions, actions and behaviors. They are an expression of our culture and an integral part of how we work: Talent. Thoughtful assumption of risk. Execution. Efficiency. Humility. Leadership. Collaboration. Diversity, Equity and Inclusion.  

• Our Colleague Behaviors define how we operate and interact with each other no matter our location, level or function: Respect everyone. Pursue better. Lead by example. Own our outcomes. Win together.  

All colleagues are held accountable to upholding and supporting our values and behaviors across the company. This includes day to day interactions with fellow colleagues, and the global communities we serve. 

Type:

Regular

Time Type:

Full time

Primary Location:

London

Additional Locations: