Head of Enterprise Risk Management (9 month FTC)

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Job Title: Head of Enterprise Risk Management (9 month FTC)

Division: Risk and Compliance

Key Relationships: Risk and Compliance, Controls and Compliance Assurance Team, Group Actuarial, Internal Audit, Culture & People, Finance and Operations teams

Job Summary: Enable business strategy, protect clients, and embed and steward a strong risk culture. Lead implementation, ongoing oversight, and regular review of the group’s enterprise risk management and control assurance frameworks, ensuring these comply with all relevant rules and obligations. Work collaboratively with the second line SLT. This role will ensure sound and mature business judgement is applied to advise and facilitate on risk management, controls and governance.

Key Responsibilities

• Implement, maintain, and raise awareness of the Enterprise Risk Framework, including: Corporate Risk Profile; Risk Appetite; Risk Taxonomy; Control Environment; Key Risk Indicators; and Governance.
• Develop, implement, and maintain effective enterprise, emerging and operational risk frameworks across the group.
• Develop, implement and maintain effective 2nd Line control assurance methodologies, plans and processes.
• Lead the ongoing development of our GRC system, supporting processes and enhancements in the control environment.
• Maintain risk policies and standards, develop suitable KRIs and other relevant risk metrics.
• Liaise with key stakeholders to complete risk appetite monitoring.
• Ensure effective Risk and Control Self-Assessments (RCSA) are performed across the group.
• Articulate the key risks to senior management and the relevant governance forums. This includes identifying areas for process/control improvement.

Support key operational initiatives including business continuity planning, disaster recovery, information security, and operational resilience.

Contribute to the production of risk reports for the Board, Risk Committee, and others as required.

Administer the process for the capture of loss events and near misses and investigate and document the root cause of incidents and planned remedial actions.

Maintain records and progress trackers of all ERM activities.

Contribute to an effective ORSA process and report, including a focus on individual syndicates.

Provide training to the business to support and implement a strong risk culture.

Senior leadership team

• Be an active SLT member ensuring that the 2nd line vision and strategy is periodically refreshed and delivered. Communicate the vision and strategy to the function and other stakeholders.
• Ensure that the team are informed of and represented on relevant business projects and seen as business enablers from a risk challenge and support perspective.
• Provide leadership, direction and support to direct reports and team as per the organisation chart.
• Proactively champion a continuous improvement mindset, unconstrained by current technologies or processes.
• Able to identify value adding quick wins and longer-term improvement opportunities.
  
  

Team Leadership

As a Beazley Manager, you are expected to:

• Provide leadership, direction and support to the team. 
• Foster a spirit of inclusion, teamwork and unity that reflects Beazley’s overall workplace culture, values and appreciation of the benefits of diversity. 
• Act as a manager, mentor and coach to direct reports to enable them to fulfil their potential, ensuring continuous development of them and the wider team. 
• Ensure direct reports are supported in contributing to the delivery and achievement of the overall team and business objectives. 

Provide effective performance feedback on a regular basis, ensuring employees are recognised and rewarded for their contribution.  Conversely, provide timely feedback to address poor performance, taking disciplinary action as appropriate. 

Maintain transparent and effective communication through department meetings, one-to-one meetings, email etc. 

Encourage knowledge sharing and effective delegation to minimise key person dependencies.  

Work with other team managers, to ensure team resources are effectively utilised and people are appropriately challenged.  

Encourage direct reports to think proactively about their careers, signposting development and stretch opportunities for strong performers where possible.  

Work with Culture & People as appropriate to escalate performance concerns, to ensure set objectives are clear and measurable and progress is tracked accordingly.

General

It Is Important That Within All Your Interactions Both Internally And Externally You Adhere To Beazley’s Core Values - Being Bold, Striving For Better, And Doing The Right Thing – As They Contribute To An Internal Environment Of Teamwork And Promote a Positive Brand Image And Experience To Our External Customers. We Also Expect Beazley Employees To

• Comply with Beazley procedures, policies and regulations including the code of conduct which incorporates the PRA and FCA Conduct.
• Undertake training on Beazley policies and procedures as delivered by your line manager, the People & Sustainability or assurance teams (compliance, risk, internal audit) either directly, via e-learning or the learning management system.
• Display business ethics that uphold the interests of all our customers
• Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs.
• Comply with any specific responsibilities necessary for your role as outlined by your line manager, the People & Sustainability or assurance teams (compliance, risk, internal audit) and ensure you keep up to date with developments in these areas. This may include, amongst others, Beazley’s underwriting control standards, Beazley’s claims control standards, other Beazley standards and customer relationship management.

Carry out additional responsibilities as individually notified, either through your objectives or through the learning management system. These may include membership of any Beazley committees or working groups.

Personal Specification

Education and Qualifications

• Bachelor’s degree in Risk Management, Finance, Economics, Actuarial Science, or a related discipline; and/ or
• Professional qualifications in risk or insurance (IRM Diploma, CII Advanced Diploma).
  
  

Skills And Abilities

• Excellent management skills with the ability to influence and manage a team of professionals.
• Accomplished relationship manager.
• Readily able to influence and negotiate at senior levels within the business.
• Ability to manage time, meet deadlines, and prioritise.
• Motivational skills, team worker as well as able to work on own initiative.
• Ability to work under pressure and to tight deadlines.
• Change management skills – have a track record for designing and implementing robust change management to review and improve existing practices and procedures.
• General commercial and financial knowledge.
• Strong communication skills, able to communicate at all levels, both verbally and in writing.
• A demonstrable track record of strategic thinking.
• Hands-on implementer, able to drive through change where appropriate.
• Technical expertise – in-depth knowledge of insurance/reinsurance through practical application, including a thorough understanding of the key functions across insurance and reinsurance firms.
• Ability to develop high performing teams, including a culture of continuous improvement where the function is seen as “value add”.
• Strategic thinker capable of grasping the bigger picture.
• Ability to articulate complex messages to senior management in order to facilitate effective monitoring and decision making.

Ability to quickly analyse complex issues, making the correct recommendations.

Strong problem-solving capability.

Ability to effectively challenge the 1st line, as required.

Knowledge and Experience

• Clear definition of 1st and 2nd line understanding and responsibilities.
• Experience in managing 1st and 2nd line challenge and articulating 2nd line risk perspective.
• Significant experience in the developing and updating risk management and control frameworks.
• Significant experience and knowledge in financial services, preferably in insurance.
• Experience in implementing effective ORSA, including a focus on individual entities or syndicates.
• Evidence of 2nd line challenge.
• General commercial and financial knowledge.
  
  

Aptitude and Disposition

• A strong communicator.
• Outcome focussed, self-motivated, agile, and flexible.
• Able to understand and articulate the strategic “big picture”.
• Technically innovative, a problem solver and solution builder.
• Professional approach to interact successfully with colleagues.
• Able to work with multi-cultural and multi-location teams.
• Ability to work closely in a team environment and develop productive working relationships.
  
  

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