JOB TITLE: Risk Analyst - Insurance Market DEPARTMENT: Risk Management, Risk Assurance LOCATION: London REPORTS TO: Risk Manager HOURS OF WORK: 9.30am to 5.30pm JOB SUMMARY: To support the Risk Management department in the ongoing development and independent review of the Risk Management Framework that is operated by the business, including the implementation and continual development of Solvency II initiatives for the function. Primary focus is on the objective challenge of the strengths and limitations of our clients and syndicates' risk exposure management processes including the appropriateness of the governance and controls around these areas and the assessment of risks inherent in these processes. MAIN DUTIES: To assist the Risk Management function in working closely with the Capital Modelling department and other relevant areas of the business to objectively challenge the business in their development of adequate risk exposure data, management information and risk modelling processes (by risk category and at an aggregated risk level); To assist the Risk Management department in enhancing the centralised risk appetite monitoring capability, at a risk category level and at an aggregated risk level, which ensures that exposures against defined risk appetite(s) / tolerance(s) across syndicates and for our client are known, understood and reported; To assist and objectively challenge the business in the development and implementation of relevant financial key risk indicators and to work to ensure they are embedded within the risk management framework of syndicates and our Client; To support the Risk Management department in developing and embedding the link between risk management systems / processes and the risk based capital calculation process; To assist the Risk Management department in independently and objectively challenging the governance and associated controls around the design, content and operation of the risk and capital modelling processes throughout the business; To partner good working relationships with key areas of the business (whilst maintaining independence and objectivity) and to help to improve risk and exposure modelling capabilities across our Client where appropriate; To work to enhance Risk Management's and senior management's understanding of our Client's various risk and exposure modelling processes, specifically their strengths and limitations and the risks surrounding the usage of models as part of the risk management system; and To assist Risk Management in challenging the business on the suitability of its selection of stress / sensitivity tests of key risk and modelling areas; To assist Risk Management in challenging the business on the suitability its selection of scenario analyses of key risk and modelling areas; To contribute to the development and implementation of the annual risk management strategy, plan and objectives; To support the Risk Management department in raising risk awareness; and To contribute to the ongoing development of the roles, responsibilities and activities of the Risk Management department to ensure Solvency II requirements are met. TECHNICAL SKILLS Essential: Good risk management experience and risk awareness Good knowledge of Solvency II requirements Strong analytical and problem solving skills Strong risk awareness and understanding of risk management Strong business influencing and stakeholder management skills Strong interpersonal, written and verbal presentation skills Sound commercial judgement Insurance industry experience Desirable: Awareness of Lloyd's and FSA regulatory regime EDUCATION AND QUALIFICATIONS Essential: 2.1 degree or better Desirable: Achievement of/studying towards a risk management qualification or ACII, finance, accountancy, actuarial, audit or business studies RELEVANT EXPERIENCE Essential: 2 years risk experience in the financial services sector Desirable: Experience of risk management frameworks, including risk quantification Insurance industry experience / Lloyd's Managing Agency experience Member of AIRMIC and / or IRM High level of computer literacy Experience of insurance, credit, market and liquidity risk frameworks SPECIALIST TRAINING Attendance at relevant professional forums eg AIRMIC, IRM PERSONAL SKILLS Competent within the specific job role, aware of all technical requirements and able to apply these in a logical manner in performance of all duties. Awareness of internal policies and procedures and working practices consistent with the job role. Able to understand the key business issues that affect the profitability and growth of the business and takes appropriate action to maximise success. Capacity to perceive the impact and implications of decisions and activities on other parts of the organisation Ability to think strategically within area of responsibility, whilst taking into account the 'bigger picture' and consequences to the wider business context. Ability to develop high standards of team spirit through effective management techniques. Leads by example and communicates with all team members on areas of role responsibilities. Readiness to make decisions, state opinions, take action or commit oneself, based on factual information and sound judgment. Shows genuine interest in others and seeks to build good working relationships based on co-operation, support and trust. Can be relied upon to 'deliver' and be consistent with decisions. Ability to maintain social, organisational and ethical norms in job related activity.