Risk Analyst - Insurance & Financial Risk
UK Visa Sponsorship Analytics
Occupation Type
Management consultants and business analysts
Occupation Code Skill LevelHigher Skilled
Sponsorship Salary Threshold
£50,200
(£25.74 per hour)
Occupation rate applies
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Description
General
Job Description And Person Specification
Job Title: Risk Analyst - Insurance & Financial Risk
Division: Risk and Compliance
Reports To: As per Beazley’s organisation chart
Key Relationships: Risk and Compliance, Group Actuarial (incl. Capital Modelling, Reserving and Pricing), External Validation Consultancy, Ceded Reinsurance, Exposure Management, Underwriting, Investments.
Job Summary: The role will support a range of risk management activities, with a particular focus on insurance and financial risk. This will involve supporting with internal model and technical provisions validation, contributing to risk reports and analysis (including the ORSA, RCSAs), as well as supporting the risk team with the delivery of the wider risk management framework.
This role is most likely to suit a student actuary with around 2-4 years of experience. The candidate should either have experience in risk, or have capital modelling experience (in-house or consulting) and be keen to transition into risk work.
Key Responsibilities
Job Description And Person Specification
Job Title: Risk Analyst - Insurance & Financial Risk
Division: Risk and Compliance
Reports To: As per Beazley’s organisation chart
Key Relationships: Risk and Compliance, Group Actuarial (incl. Capital Modelling, Reserving and Pricing), External Validation Consultancy, Ceded Reinsurance, Exposure Management, Underwriting, Investments.
Job Summary: The role will support a range of risk management activities, with a particular focus on insurance and financial risk. This will involve supporting with internal model and technical provisions validation, contributing to risk reports and analysis (including the ORSA, RCSAs), as well as supporting the risk team with the delivery of the wider risk management framework.
This role is most likely to suit a student actuary with around 2-4 years of experience. The candidate should either have experience in risk, or have capital modelling experience (in-house or consulting) and be keen to transition into risk work.
Key Responsibilities
- Support with the delivery of internal model validation as well as the production of validation reports for the Board, in collaboration with the first line teams and external independent validators.
- Support the risk managers in providing challenge of Beazley’s first line processes around insurance and financial risk, including reserving, pricing, capital modelling, business planning, underwriting, outwards reinsurance, exposure management and investments. This should include supporting with Risk and Control Self-Assessments (RCSAs).
- Support the delivery of the Own Risk and Solvency Assessment (ORSA) for Beazley’s various entities, particularly those sections relating to insurance and financial risk (e.g. Capital and Stress and Scenario Testing).
- Support with the delivery of technical provisions validation.
- Help prepare risk management reports for committees, and for internal and external presentations.
- Ensure close collaboration with other risk managers, supporting their workload as appropriate.
- Participate in project work as required.
- Support with the continued development of the wider risk management framework.
General
At Beazley we are committed to doing the right thing because it is the right thing to do. It is important that within all your interactions both internally and externally you adhere to this principle through adoption of Beazley’s core values and behaviours – PIED and Being Beazley.
At Beazley we are committed to doing the right thing because it is the right thing to do. It is important that within all your interactions both internally and externally you adhere to this principle through adoption of Beazley’s core values and behaviours – PIED and Being Beazley.
- Adopt the Beazley culture of professionalism, integrity, effectiveness and dynamic attitude that contributes to an internal environment of teamwork and promotes a positive brand image and experience to our external customers.
- Comply with Beazley procedures, policies and regulations including the code of conduct which incorporates the PRA and FCA Conduct Rules. Undertake training on Beazley policies and procedures as delivered by your line manager, Culture and People 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, Culture and People 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.
Essential Criteria
- Student actuary, who has demonstrated good progress through the exams.
- This role is most likely to suit a student actuary with around 2-4 years of experience.
- The candidate should either have experience in risk, or have capital modelling experience (in-house or consulting) and be keen to transition into risk work.
- Methodical approach to problem solving, with a high attention to detail.
- Ability to act pragmatically in the face of new challenges and exercise sound judgements based on overall business needs.
- Excellent interpersonal, communication skills, and ability to tailor communication to both technical and non-technical audiences.
- Ability to prepare comprehensive well written reports for internal and external stakeholders.
- Proven project management and organisational skills with track record of delivering projects to strict deadlines.
- Experience in performing internal model and technical provisions validation would be an advantage for this position.
- Knowledge of Solvency II / Lloyd’s requirements, risk management and actuarial principles. Experience of working as a risk actuary would be an advantage, but if lacking in risk experience, then they should have capital modelling experience (in-house or consulting) and be keen to transition into risk work.
- Experience of providing challenge across any of the following areas would be an advantage: reserving, pricing, capital modelling, business planning, underwriting, outwards reinsurance, exposure management and investments.
- Experience in providing risk challenge to the first line and producing and presenting risk analysis to internal and external stakeholders.
- Interest in gaining a deeper understanding of insurance and financial risk management in the Lloyds’ / London Market.
- Outcome focussed, self-motivated, agile and flexible
- 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
- Willingness to learn and achievement drive
- Information seeking
- Problem solving
- Technical expert
- Time management
- Stakeholder management
- Influencing others
- Quality focused
- Initiative
- Customer focused
- Analytical thinking
- Team working