- Recommending and contributing to the implementation of enhancements to the ERM framework
- In conjunction with the other members of the Risk team, ensuring that at all times a clearly defined approach to the active management of the significant risks to business objectives.
- To work in conjunction with the Risk team and the Solvency II programme to ensure that the business is prepared for Solvency II.
- To ensure that a robust process for actively monitoring and periodically reporting the status of risk profile and for identifying and responding to significant issues and events. For example through undertaking Divisional risk and control self assessments.
- Monitoring and reporting of risk appetite, tolerances and actual exposures. For example through the continued development and implementation of Key Performance Indicators and Key Risk Indicators.
- Contribute to appropriate risk management information being provided to the Board and its sub-committees to facilitate a clear understanding of all significant (financial and non-financial) risks to the achievement of its business objectives.
- To assist the Risk team in reporting to the Risk Committee and the Board on the significant risks facing the organization. Reports are to include information on any breaches of risk limits as approved by the Board.
On a day to day basis the job holder will be expected to:
- Demonstrate compliance with PRA and Lloyd’s risk management requirements;
- Contributing to the enhancement to ERM practices to ensure they address the requirements of SII in a proportionate manner;
- Analyse risk management issues and interpret their application
- To work in conjunction with the Risk team to report to the Risk and Compliance Committee and the Board in respect of risk management.