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.