Flood Re City Of London, England, United Kingdom
This is a full-time position however we are Happy to talk Flexible Working.
Flood Re is a re-insurance Scheme that makes flood cover more widely available and affordable.
Flood Re is a joint initiative between the UK Government and Insurers. Every insurer that offers homeinsurance in the UK must pay into the Flood Re Scheme. This Levy raises £1 60m every year that we use to cover the flood risks in home insurance policies, purchase further reinsurance against catastrophic flooding and to run the Company.
Flood Re will run until 2039 and is tasked with ensuring that the market will then be offering policies with premiums based on actual flood risk. This is an exciting opportunity to join a respected, highly motivated team in a Head of Legal position.
Flood RE is committed to creating a diverse and inclusive environment; where all types of diversity is important to us. Our Recruitment process aims to ensure that we attract and appoint applicants with the right skills, knowledge, behaviours, and experience to meet the needs of our business. By embracing all types of diversity we aim to ensure that here at Flood Re everyone is respected for their contribution.
Purpose
The Head of Legal role is central to ensuring that all Flood Re’s legal and regulatory risks are effectively identified, managed, and mitigated. The Head of Legal is expected to lead and deliver a professional in-house legal service to support the senior management and the Board in carrying out their legal responsibilities. The postholder will ensure that Flood Re business is conducted under the appropriate framework of laws, regulations and standards thereby assisting Flood Re in its aim of becoming a worldwide centre of excellence for flood risk.
The successful candidate will be a qualified lawyer with a strong track record within a regulated financial services environment with experience in insurance and reinsurance, commercial contracts, IT and IP, ideally with public procurement experience.
This role is part of the Operations Leadership Team.
Responsibilities
* On Flood Re’s rights and obligations with respect to general legal issues.
* With respect to the Scheme rules and associated legislative framework.
* In relation to Flood Re’s corporate and commercial framework with regard to its responsibilities and accountability as a public body.
* On Flood Re’s corporate governance framework and related matters.
* General advisory work and support with respect to the Company including legislative and regulatory issues.
* Provide robust legal risk management, including horizon scanning and ensuring preparedness for change, anticipating and responding appropriately to regulatory initiatives, including drafting policies and procedures.
* Ensure timely identification, escalation and reporting of legal risks, and advise on effective approaches to mitigation of such risks.
* Assist in the resolution of any contractual disagreements between Flood Re and other external parties.
* Provide legal advice where required on corporate communications and policy documents as necessary.
* Review and advise on briefing notes, documentation and slides for key meetings between Flood Re’s executive team and key stakeholders (such as Secretary of State, Parliamentary Committees, devolved administrations, regulatory authorities).
* Provide legal support on procurement/tendering activities including reinsurance services and other risk transfer mechanisms, including catbonds.
* Supervise, coach and develop members of the legal team, motivating, engaging and getting the best out of team members.
* Procure and supervise any necessary external legal support.
* Provide clear and pragmatic advice to the Operations team regarding Flood Re’s obligations pursuant to its treaty/agreements with insurers.
Skills, Knowledge and Experience
* UK qualified solicitor or barrister with significant post-qualification experience in relevant areas of law (guideline being 10 years’ PQE).
* Reliable judgement and appreciation of legal risk.
* Experience of providing legal advice and support at all stages of the insurance cycle and also on policy matters at a senior level.
* Up to date knowledge of developments in Corporate Governance practices.
* Experience with public procurement rules and government-related organisations will be a strong added advantage.
* Aware of the additional requirements arising from public funding.
* Excellent relationship management, people, inter-personal skills and ability to work in multi-disciplinary teams.
Seniority level
* Executive
Employment type
* Full-time
Job function
* Legal
Industries
* Insurance
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