Risk Analyst - Insurance Sector Experience Required

Job Description

Job Title - Risk Analyst

Job Market - Lloyd’s Market Experience

Location - London 


Risk Analyst - About the role

Based within the Risk Management Team you will provide assistance to the Risk Manager with the developing and maintaining of an effective risk management framework across the business from Syndicate, and with ensuring that Lloyd's and Solvency II requirements are being met.

The ideal candidate will have experience gained in the specialist insurance lines in the Lloyd’s market, in a relevant position in one of the following functions: Risk Management, Internal Audit or in a specific Solvency II role.

Risk Analyst - Key duties

Collate and validate risk and controls information from the business, update sections of the Risk Register, Accepted Risk Register and Emerging Risk Register.

Assist the business in developing and implementing effective controls and follow up the actions to address control weaknesses identified.

Produce parts of Risk MI reports and dashboards.

Liaise with the business to obtain the source data for the reporting of Risk Tolerance limits and Key Control Indicators.

Coordinate the Risk Event reporting and maintaining the Risk Event Log. Ensure that root cause analysis has been carried out and follow up the agreed actions.

Perform in-depth reviews of business areas to ensure that their risks and controls are accurately reflected in the Risk Register.

Ensure that internal audit findings over the risk management systems are taken into account in the Risk Register.

Collate information for the Own Risk and Solvency Assessment (ORSA) report.

In every aspect of their work ensure that the Risk Management Function is consistent with the Lloyd's Risk Management Minimum Standards.

Produce Part of Risk and controls MI reports.

Draft minutes for the Risk Governance committees' meetings and update the Action plans.

Coordinate the organisation of training sessions for Risk and Control owners and senior management on risk, Solvency II and Internal Model topics.

Collate information to be used in the Internal Model Parameterisation and Validation.

SharePoint Librarian duties.

Risk Analyst - Key requirements

Experience in Risk, Audit or Solvency II implementation team within an insurance company or a consultancy.

Experience in specialist classes of insurance.

Experience in risk identification and analysis.

Experience in documenting processes, risk and controls.

Experience in the development and production of Risk/Control MI reports.

Knowledge of Solvency II and experience within a Lloyd's Syndicate will be considered an advantage.

A graduate in an appropriate discipline (Maths, Risk Management, Economics/Business related).

An understanding of the basic concept of Risk Management.

Excellent analytical skills, high attention to detail and ability to recognise potential issues with processes and controls.

Strong knowledge of MS Office including: Excel, Word, PowerPoint, SharePoint.