Job Title: Chief Risk Officer (CRO)
Location: London, United Kingdom
Our client is a leading insurance provider based in London, specialising in life insurance, . With a strong commitment to risk management, innovation, and customer satisfaction, they are dedicated to providing their clients with tailored insurance solutions that meet their evolving needs.
The Chief Risk Officer will be responsible for overseeing the company's risk management framework, ensuring compliance with regulatory requirements, and safeguarding the company's financial stability. This critical leadership role requires a strategic thinker with a deep understanding of the insurance industry, risk assessment, and regulatory compliance.
- Risk Management Strategy:
- Develop and implement the company's overall risk management strategy and framework.
- Identify, assess, and prioritize risks across the organization, including underwriting, investments, and operations.
- Regulatory Compliance:
- Ensure compliance with all relevant regulatory requirements, including those set by the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA).
- Stay updated on changes in regulations and communicate their impact to relevant stakeholders.
- Risk Assessment and Mitigation:
- Lead the identification and assessment of potential risks, including market, credit, operational, and strategic risks.
- Develop and implement risk mitigation strategies and action plans.
- Underwriting Risk:
- Oversee underwriting risk assessment and pricing strategies, ensuring they align with the company's risk appetite and profitability targets.
- Collaborate with underwriting teams to optimize risk selection and pricing.
- Investment Risk:
- Manage investment risk, including asset allocation, portfolio diversification, and adherence to investment guidelines.
- Monitor the performance of investment portfolios and assess the impact on overall risk.
- Reporting and Communication:
- Provide regular risk reports to the board of directors, senior management, and relevant committees.
- Communicate risk findings, trends, and recommendations to stakeholders.
- Capital Management:
- Collaborate with the Chief Financial Officer (CFO) to ensure the company maintains adequate capital reserves to support its risk profile.
- Assess capital requirements for new business initiatives and growth strategies.
- Enterprise Risk Culture:
- Foster a culture of risk awareness and risk management throughout the organization.
- Develop and deliver risk training and awareness programs for employees.
- Bachelor's degree in finance, risk management, or a related field (Master's or relevant certification preferred).
- Extensive experience in risk management within the insurance industry, including a strong understanding of insurance products and actuarial principles.
- Knowledge of UK insurance regulations, including Solvency II, and a proven track record of regulatory compliance.
- Exceptional leadership and communication skills, with the ability to influence decision-making at all levels.
- Strong analytical and problem-solving abilities.
- Demonstrated experience in enterprise risk management (ERM).
- This role typically operates in an office environment in London.
- Some travel may be required for meetings, industry conferences, or regulatory consultations.
The Chief Risk Officer (CRO) will play a pivotal role in shaping the company's risk management strategies, ensuring compliance with regulatory standards, and preserving the financial stability of the organization. If you are a seasoned risk management professional looking to make a significant impact in the insurance industry, we invite you to join our dynamic team.
Exec Capital are a London based leading recruiter of Chief Risk Officers