Risk Officer, XL London Markets recruitment
To support the XLI Risk Management team in the identification, assessment and mitigation of risks that could impact the strategic objectives of XL Insurance and more specifically XL London Market Ltd. To address specific risk management activities required within the UK/Ireland and CEA regions and by the FSA and Lloyd’s.
Key responsibilities and accountabilities:
1. XL London Market Ltd (“XLLM”) Risk Management Framework:
Support the XLLM Risk Manager in the implementation of an effective risk management framework and successful implementation of Lloyd’s and Solvency II requirements including to:
- Lead the annual risk assessment processes for XLLM in consultation with the business and risk owners across all risk categories
- Maintain the XLLM risk register
- Support the annual RMF assurance process for presentation to the Risk Monitoring Committee and Board Risk Committee
- Support with stress and scenario testing
- Assist with deliverables and co-ordination of the Risk Management Working Group
2. XLLM Risk Monitoring Committee:
Support the delivery of the key objectives for the XLLM Risk Monitoring Committee including to:
- Collate meeting documentation
- RMC Administration including minutes, meeting scheduling
3. Internal model deliverables
- Assist the XLLM Risk Manager in the delivery of the internal model deliverables for XLLM
- Support the development of the Internal Model Validation report in consultation with the Actuarial and business teams
- Provide administrative support to complete all necessary risk assessments, significant risk monitoring and heat maps in support of the ORSA process.
4. XLLM Risk dashboard compilation and review
- Produce the dashboards quarterly for XLLM, collating the data and preparing the dashboards for circulation.
- Occasional deep dive required to validate the data being provided.
5. Provide support to CRO on ad hoc projects and team deliverables
Desired Skills Experience
- Educated to degree level or equivalent, ideally a post-graduate qualification
- Three to five years Insurance Industry experience
- Experience of working within a risk management and/ or oversight role in the Insurance Industry
- Practical and theoretical understanding of how risk is managed and embedded within insurance companies including financial risk, liquidity risk and wider risk governance
- Strong computer competency is required, including good experience of Microsoft PowerPoint, Excel and Word
- Strong communication skills and ability to deal with senior individuals
- Understanding of Solvency II requirements
- Strong organization skills
- Ability to plan and prioritize work and be adaptable in a dynamic working environment
- Committed to team environment and supporting others within the team to achieve goals of the department and the business