Job description
Job Title: Senior Financial Risk Manager
Department: Risk Management
Reports to: Chief Risk Officer (CRO)
About Us:
My client is a leading life & pensions firm, committed to delivering exceptional value to their clients and stakeholders. They are seeking a dynamic and experienced Senior Financial Risk Manager to join their Risk Management team. This role is critical in advising on the financial risks that the company faces and ensuring that these risks are effectively managed in alignment with their strategic objectives.
Key Responsibilities:
1. Risk Review and Challenge:
Provide second-line review, challenge, and reporting on project, commercial, and strategic proposals, including Bulk Purchase Annuity deals and acquisition activities.Develop, review, and monitor financial risk appetites, limits, and scenarios, ensuring they are appropriately applied.Contribute to the design and review of stress scenarios as part of the ORSA (Own Risk and Solvency Assessment) processes.
2. Risk Reporting:
Produce and develop comprehensive risk reporting, MI packs, and other documentation for the Board and relevant committees.Provide oversight and review of Matching Adjustment-related risks to ensure they align with the company's frameworks.
3. Risk Assessments and Research:
Lead risk assessments and deep dives to provide assurance on financial risks and controls, including credit and investment risks.Undertake research, troubleshooting, and second-line risk reviews, producing reports with findings and recommendations for stakeholders.
4. Collaboration and Oversight:
Work closely with the first line of defence to ensure the effectiveness of frameworks and approaches for identifying, monitoring, and managing financial risks.Provide oversight on the application of ratings to assets and perform independent reviews when necessary.
5. Actuarial and Model Review:
Perform second-line reviews of key actuarial assumptions and methodologies.Support independent validation of aspects of the Internal Model Development.
6. Enterprise Risk Management:
Assist the CRO in maintaining an effective Enterprise Risk Management Framework and Risk Appetite Framework.Provide broader enterprise risk oversight and support in maintaining a strong risk culture across the organisation.
Qualifications:
7. Proven experience in financial risk management within the life & pensions sector.
8. Strong analytical and problem-solving skills with the ability to challenge and influence senior stakeholders.
9. Expertise in ORSA processes, actuarial assumptions, and financial risk frameworks.
10. Excellent communication skills, with the ability to translate complex risk issues into clear, actionable insights for the Board and committees.
11. Experience in working with regulatory requirements, particularly FCA conduct.