Director of DB Risk

Director of DB (Defined Benefit) Risk

Hybrid- London

At Just we encourage a flexible and agile working environment for the majority of our opportunities. Get in touch with us to discuss in more detail

About the role

We are looking for a Director of DB (Defined Benefit) Risk to work as a trusted partner to the Group Chief Risk Officer and the MD of the Defined Benefit business to achieve the objectives of Defined Benefits business in a risk-aware manner, creating competitive advantage through better decision making.

Responsibilities

• Collaborate with the Chief Risk Officer and the MD of Defined Benefits Business to develop, maintain, and implement a comprehensive risk management framework. This includes identifying, managing, monitoring, mitigating, and reporting risks inherent in the activities of the Defined Benefits business.
• Provide trusted advice to the Group Chief Risk Officer, MD of Defined Benefits Business, other executives, and senior management on risk aspects of the Defined Benefits business.
• Act as a senior risk business partner to the Defined Benefits business, including attending and supporting Senior Management Team (SMT) meetings and associated risk reporting.
• Provide proactive risk advice, support, and challenge to Defined Benefits management across the business, including the management of risks associated with change initiatives.
• Understand and communicate the priorities of relevant regulators (including the PRA, FCA, TPR, and ICO) and the risks associated with governmental and other policy developments as they relate to the strategic goals of the Defined Benefits Business.
• Represent the Risk Function in written and personal contributions in Board, Executive, and internal committees and forums as required, including providing risk opinions on material transactions and change initiatives.
• Coordinate the activities of the wider Risk Function to provide effective risk oversight and advice to the Defined Benefits business. Ensure that contributions from other subject matter experts are clearly communicated, prioritized, and delivered on time and to a high standard.
• Support the development of Risk Function members in understanding the risks of the Defined Benefits business. Provide effective and value-adding challenges, encourage high standards of controls, and promote proactive management of risk events
• Participate as a member of the Risk Function’s senior leadership team, supporting the Chief Risk Officer in achieving the Risk Function's objectives and contributing to the development of the function more widely.
• Ensure proficiency in the use of the Group’s risk management database (SWORD) and support the business in identifying, assessing, and reporting risks at the departmental level.
• Manage and support direct reports in the deployment and development of their skills, knowledge, and awareness.
• Ensure compliance with the company’s procedures, policies, guidelines, and reporting requirements, as well as any relevant regulatory and statutory requirements.

Experience

• Proven track record of practical experience of implementing and/ or operating risk management processes.
• Significant breadth of experience and knowledge of life insurer’s processes for de-risking defined benefits pension schemes. .
• Experience of providing risk support in change and implementation of large transformation initiatives.
• Commercially aware and committed to internal and external customer service.
• Proven record of building strong internal partnerships within businesses.

Skills and Knowledge

• Excellent relationship management skills
• Strong communication and interpersonal skills, including influencing, negotiation, presentation and report writing.
• Strong understanding of risk management practices and their application. Ability to identify emerging risk issues and to drive understanding and management.
• Understanding of regulatory context of risk management, including Solvency 2 requirements and PRA expectations.
• Understanding of financial and insurance risk and capital management principles and techniques as applied to a Defined Benefits business
• Strong analytical and critical thinking ability, able to interpret information from a number of sources and draw together the ‘big picture’ and bring a strategic perspective.
• Ability to inspire trust, influence others, promote collaboration and motivate.
• Ability to succeed in an influence based role.

Qualifications

• Externally recognised risk management or relevant qualification is essential for the role

Company Benefits

• A Competitive Salary, Pension Scheme and Life Assurance
• Along with 25 Days Annual Leave plus an Additional Day on us for your Birthday
• Private Medical Cover and Income Protection, just in case
• A generous and highly achievable bonus scheme – paid annually based on individual and company performance against targets
• Opportunity to progress within your career both in-role and within the company
• FREE access to the Headspace App, a 24/7 Employee Assistance Helpline and Trained Physical & Mental Health First Aiders (On-Site)
• A variety of Employee Funded Benefits available to you via our Online Benefits Portal
• Plus, several additional purchase options available for you and your loved ones

Why Just?

We are committed to building a more sustainable business and have publicly committed to reduce our scope 3 emissions to Net Zero by 2050 and our scope 1 and 2 emissions to Net Zero by 2025. We’ve made good progress so far and encourage our people to make small and meaningful changes in their everyday lives, so that we can protect our planet for future generations.

Diversity, Equity and inclusion (DE&I) is a key priority for Just as part of our overall strategy and ensuring all of our people feel proud to work at Just. We have joined a number of initiatives including the Race at Work Charter, designed to improve outcomes for employees from underrepresented backgrounds. We also run a Reciprocal Mentoring scheme for employees from a BAME background, those with a disability and those who identify as LGBTQ+. There are multiple employee network groups, which champion issues including race, gender, social mobility and neurodiversity.

What’s clear about working at Just is that we care. We care about our customers, our purpose, our environment, inclusivity, wellbeing and most importantly - each other.