Bermuda
Working Style: Agile
About You and the Role:
The Risk Management function is critical to Enstar. The function’s deliverables include quarterly Group and Subsidiary risk reports, annual regulatory risk reports such as the Group Solvency Assessments (GSSAs), Commercial Insurer's Solvency Self-Assessment (CISSAs) and Own Risk and Solvency Assessments (ORSAs), as well as other ad-hoc regulatory risk reporting. The Risk Management function operates under the Enstar ERM Framework, which identifies the key risks to the business.
As the Group Reporting & Bermuda Senior Risk Officer, you will hold senior risk management accountability and be responsible for the timely delivery of both Enstar Group and Bermuda subsidiary Board and Regulatory Risk Reporting, the execution of the Enstar ERM Framework, relevant Committee work and other ad-hoc risk matters as required.
What you will be doing:
Support the maintenance of the Group and Bermuda entities ERM Framework including:
Maintaining and implementing the regular review of the underlying risk policies;
Updating the Risk Appetite Frameworks, including working with SMEs to both develop operational scenarios to support the CTAL process and ensuring appetite is aligned strategy and supported by an appropriate infrastructure to both manage and monitoring risk;
Play a lead role in the identification, assessment and articulation of the Group and Bermuda subsidiary top risks, their mitigating controls, and proposed actions to drive continuous improvement of the Company’s risk framework
Implement process and control improvement as necessary including the performance of Root Cause Analysis when investigating Operational Risk Events.
Lead the Group Emerging Risk Forum;
Maintain an appropriate infrastructure of risk management processes for managing and monitoring risk predominantly across the both the Group and Bermuda; and
Work closely with stakeholders across all areas of Enstar, including M&A, Investments, Reserving and Claims, as well as Group and Regional CROs and Risk Tower leads to ensure the risks are being managed effectively.
Lead quarterly and annual Board and Regulatory Risk reporting at both the Group and the Bermuda subsidiaries levels ensuring:
Lead the annual GSSA and CISSA Regulatory Risk reporting process.
Delivery of concise yet comprehensive summaries of key risk-related information for senior management (e.g., risk and control assessments, incidents, risk metrics).
Maintaining and reporting on the risk appetite framework, ensuring appropriate information is presented to senior management and Board(s).
Providing oversight and challenge over the systems, processes and controls including the completeness and accuracy of material provided through the interpretation of the analysis/reporting materials provided, trend analysis/interpretation of risk metrics within the wider Risk Appetite Framework and wider market/company specific intelligence.
Other key activities comprise:
Supporting the Risk function’s independent assessment of risks that may arise from proposed strategic initiatives (e.g., acquisitions and change). This forms a key part of the Executive and Board approval process.
Supporting various Management Committee work as appropriate;
Working with various Risk Tower owners as appropriate for matters impacting both the Group and Bermuda subsidiaries including escalating items as appropriate.
Prepare responses to requests (regular and ad-hoc) from both regulators and internal auditors.
Maintain a culture of risk awareness across Enstar Group.
Provide risk management input on thematic reviews of 1st line of defence responsibilities.
Ensure compliance with risk management regulatory requirements.
In addition to the above key responsibilities, you may be required to undertake other duties from time to time as the Company may reasonably require.
The responsibilities described above are not exhaustive. Enstar is committed to ensuring our people develop and harness the right skills consistent with their wants and business needs. Therefore, it is expected that this will change over time.
What you will bring:
7+ years of enterprise risk management and risk mitigation experience within the insurance industry.
Experience in interacting with various levels of management including the effective challenging of the 1st line as appropriate.
Experience in the preparation of high quality Management, Committees and Boards reports.
Experience of working in a large, complex organisation a multidisciplinary, multi-regional team.
Relevant insurance and/or risk management professional qualification essential
Technical expertise – in-depth knowledge of insurance/reinsurance through practical application, including a thorough understanding of the key functions across insurance and reinsurance firms.
Experience in the production of comprehensive yet concise Board reports that distil complex details into simple to understand summaries.
Very good understanding and proven practical experience of Risk Management / ERM / Operational & Financial Risk within the Insurance Industry
Comprehensive understanding of insurance & finance terminology and the risks to which such companies are exposed.
An understanding of issues affecting the legacy insurance market and managing legacy business would be advantageous
Awareness of risk management regulatory requirements in Bermuda and other jurisdictions where the Company operates and of risk management related legislation/policies/procedures/key standards of compliance and governance
Broad understanding of any technology / systems specific to the role
High level of proficiency in Microsoft suite of products including ability to build effective spreadsheets (excel) and generate high quality PowerPoint presentations.
Person Specification
Results driven with the ability to work independently within a multidisciplinary, multi-regional team to oversee and collate materials from various contributors often under tight deadlines.
Project management skills including the disciplined approach to coordinate and balance multiple reporting deadlines.
Personable, confident, nature and experience in working in a user facing environment including presenting.
Ability to distil complex risk materials into summary reports for inclusion within risk reports including recommended courses of action.
Demonstrable ability to identify opportunities to both improve the reporting processes and provide challenge as appropriate to the various Functional Risk Heads and/or Key Functional Heads.
Proactive in developing and maintaining positive working relationships at all levels within the team.
Excellent verbal and written communication and presentation skills including the ability to distil key risk information into concise and easy to understand reports.
Excellent quantitative and analytical skills.
Ability to listen, be flexible yet decisive and to work effectively in a collaborative environment.
Strong organisational skills, comfortable working under pressure and to tight deadlines.
Good problem-solving capability.
Who we are:
Enstar Group Limited (“Enstar” or “EGL”) is a leading global insurance group and the world’s largest standalone consolidator of legacy reinsurance business.
Through our network of group companies, we help others – principally other insurance companies – release capital by taking over liability portfolios which no longer make strategic sense for them to hold. We create value by better managing these legacy insurance portfolios and strive to generate attractive risk-adjusted returns from our investment portfolio.
Enstar’s innovative re/insurance solutions help our partners to reduce risk, release capital, dispose of non-core businesses and portfolios, achieve finality and manage claims volatility. In return, Enstar drives earnings through savings arising from our technical excellence and from investment earnings on the reserves we hold.
With around 800 global employees, our network of group companies is positioned across the world’s major insurance hubs and has significant presence in Bermuda, where our headquarters are located, the United States, the United Kingdom, continental Europe, and Australia.
Enstar’s balance sheet strength is supported through flagship carrier, Cavello Bay, who benefits from strong financial strength ratings of “A” by Standard and Poor’s and “A” Excellent with stable outlook by AM Best. Enstar held Shareholder’s Equity of $6.1 billion as of 31 December 2024.
Acharacteristic that is core to our culture: we encourage an entrepreneurial spirit, our colleagues have autonomy to shape strategy, innovate new revenue streams and we reward those who are commercially focused.
NIMBLE
We are quick to respond to change. We embrace new technology and new lines of business according to market demands. We grasp new concepts quickly, are able to deliver in a timely manner and can improvise when needed.
SOLUTIONS FOCUSED
We are resilient, successful, have a winning mentality, possess a strong work ethic. We believe in getting it done.
TEAMWORK
Our strength is working together as a Group, across regions, companies and disciplines. We firmly believe the sum of our collective effort, knowledge and ambition will always outweigh our individual contributions. We work as a trusted partner to our clients.
AWARE
We use our knowledge and experience to stay aware of market trends, acquisition opportunities and other influencers that could impact us and our competitors. Our constant awareness means that we are vigilant, innovative and responsive.
RELEVANT
At all times we strive to undertake actions that are relevant to help us achieve our vision, and to ensure we remain a provider of relevant insurance solutions to the market. We have shown a capacity to evolve and will continue to do so in order to ensure our ongoing relevance to the market.
Equal Opportunities at Enstar:
Our annual Inclusivity Index puts Enstar ahead of the industry in terms of diversity and inclusivity. At Enstar, we value all types of diversity. We’re an equal opportunity employer and believe that our diversity creates an authentic working culture. We don’t discriminate on the basis of age, physical or mental disability, gender reassignment, marriage and civil partnership, pregnancy and carer status, race (including colour, nationality, and ethnic or national origin), religion or belief, sex and sexual orientation.Enstar is committed in providing an accessible recruitment experience for all those interested in working with us. Please let your Enstar Recruitment Partner know if you require any reasonable accommodation during the application process due to a disability to enable you to fully participate in our recruitment process.
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