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Description
Job Description
The Role
Canopius is seeking a dynamic risk leader to join our Group Risk team. This pivotal role will provide second-line oversight and challenge across underwriting risk, model governance, validation, ORSA, and risk appetite development. You’ll shape risk frameworks, influence strategic decisions, and ensure robust governance in a fast-paced, global insurance environment.
Responsibilities Will Include
Risk Framework & Oversight
Provide 2nd-line challenge of underwriting, reserving, pricing, capital modelling, reinsurance, and exposure
Oversee development, validation, and governance of internal models (ICM, stochastic, catastrophe)
Articulate and monitor risk appetite and key metrics across the portfolio
Conduct capital, stress & scenario testing, economic capital analysis
ORSA Leadership
Lead Own Risk & Solvency Assessment (ORSA) process, driving insurer-wide engagement and board-ready output
Build and publish ORSA risk opinions, deep dives, trend analysis for senior committees
Reporting & Stakeholder Engagement
Report key metrics, capital outcomes, model limitations, and exposures to Group, Board, and Risk Committees
Provide risk expertise & challenge across divisions: underwriting, actuarial, finance, exposure, reinsurance
Collaborate with Finance/Actuarial to ensure alignment on assumptions and capital modelling
Team Leadership & Capability Development
Lead a cross-functional team covering model risk, validation, underwriting risk, ORSA, and model governance
Coach direct reports and build 2nd-line skills in model challenge, validation, and strategic risk thinking
Shape risk culture, ensuring consistent application of risk appetite and governance standards
Regulatory & Governance Compliance
Maintain oversight of regulated SMF responsibilities (e.g. PRA UK Senior Manager functions)
Ensure compliance with Solvency II/ORSA, CBEs, IST, and internal model standards
Prepare for internal and external audits of assumptions, model validations, risk framework, committees
Strategic Input & Change Leadership
Influence strategic decisions inside Risk Committees and Group Leadership
Analyse emerging risks, industry trends, competitor performance to refine risk appetite
Support transformation initiatives related to pricing, reserving, model enhancements, or MGA delegations
Skills
Bachelor's degree in Numerical / Analytical discipline
Advanced degrees or professional qualifications (FIAA, FIA, CERA, ACII, MBA) preferred
Relevant certification/experience in model governance or validation programmes
Proven experience in 2nd-line risk, model governance, or validation in property/casualty, life or reinsurance
Own Risk & Solvency Assessment leadership with stakeholder management capability
Solid financial/actuarial background including capital modelling (internal and regulatory)
Extensive risk experience, with developed management capabilities
Experience in PRA-regulated organizations with knowledge of SMF, SOLVENCY II, COBS, CBEs
Experience working with Lloyd's, MGAs, reinsurers is advantageous
Advanced knowledge of capital models (e.g. Moses, RiskAgility) and statistical tools (R, Python, SQL)
Strong financial analysis and data interpretation capability
Skilled in presenting and challenging complex financial and risk topics to senior stakeholders
Track record of managing and developing teams in multi-disciplinary environments
Strong leadership presence with ability to influence Board-level executives
Excellent interpersonal, written and verbal communication skills
Detail-oriented, proactive, and collaborative working style
Competencies
Leading Change
Plans, implements and embeds organisational changes across the region and guides stakeholders through changes to processes, technologies, systems, or strategies, ensuring changes are successful and well received.
Leading Teams
Motivates, guides and empowers others to collectively meet current and future business needs. Sets clear performance expectations and utilises team members’ capacity, skills and potential effectively.
Stakeholder engagement
Cultivates and maintains positive relationships with relevant internal or external stakeholders, effectively involving and communicating with them to drive collaboration, support, and alignment towards shared goals.
Collaboration And Teamwork
Works effectively with team, project or other work groups or those outside formal line of authority to accomplish goals. Actively participates as a member of a team; develops and builds cohesive team relations to produce required outputs; possesses knowledge and understanding of colleagues work.
Adapting To Change
Adjusts thoughts, feelings, and behaviours to handle new, challenging, or complex situations; embracing change as a growth opportunity when working within new work structures, processes, regulations, or requirements.
Continuous Improvement
Analyses current and future state business requirements and identify strategies to continuously improve products, services or processes. Guide and inspire others to achieve results to enhance efficiency, quality and consistency.
Innovation
Creates, develops and implements new ideas to enhance new or improved processes, systems, solutions, products or services; tries different and novel ways to deal with problems and opportunities.
Resilience
The ability to cope with and recover from setbacks, challenges or difficulty. Persevering even under pressure or crisis situations and uses ways that foster strength and growth, often emerging stronger than before.
Future Focused
Anticipates changes in regulations, technology and client needs, proactively responding to key trends happening in the industry. Thinks about the future through identifying opportunities and obstacles whilst planning effectively.
Our Benefits
ABOUT US
We offer all employees a comprehensive benefits package that focuses on their whole wellbeing. This includes hybrid working, a competitive base salary, non-contributory pension, discretionary bonus, insurances including health (family) and dental cover, and many other benefits to enhance financial, physical, social and psychological health.
About Canopius
Canopius is a global specialty lines (re)insurer. We are one of the leading insurers in the Lloyd’s of London insurance market with offices in the UK, US, Singapore, Australia and Bermuda.
At Canopius we foster a distinctive, positive culture which enables us to bring our whole selves to work to flourish as people, and build a business which delivers profitable, sustainable results.
Based in incredible new offices in the heart of the City of London, Canopius operates a flexible, hybrid working model and is committed to providing an environment that challenges employees to be their best and where everyone's unique contributions are recognised, valued and respected.
We are fully committed to equal employment opportunities for all applicants and providing employees with a work environment free of discrimination and harassment. All employment decisions are made regardless of age, sex, gender identity, ethnicity, disability, sexual orientation, socio-economic background, religion or beliefs, marital or caring status, or any other status protect
ed by the laws or regulations in the locations where we operate. We encourage and welcome applicants from all diverse backgrounds.
We make reasonable adjustments throughout the recruitment process and during employment. Please let us know if you require any information in an alternate format or any other reasonable adjustments.
Head of Insurance and Underwriting Risk | Canopius Group | Hunt UK Visa Sponsors
