Lloyds Risk Manager
2 days ago
City of London
About us The Fidelis Partnership is a leading specialty, bespoke and (re)insurance business. We have built our name on a 40-year track record of outperformance, and we continue to beat the market in our underwriting and returns. More information on The Fidelis Partnership can be found at The Company currently writes lines of business including; specialty insurance: aviation & aerospace, energy, marine, property, terror & political violence, contingency and other specialty lines; reinsurance: property reinsurance, property retrocession, specialty reinsurance, whole account/multi-class and bespoke. Role Overview The role will offer significant growth potential as part of a team that covers the entirety of the rapidly growing Group. The individual will be expected to act independently and to manage elements of the Risk Management Framework with little day-to-day oversight. The Lloyd’s Risk Manager will be expected to leverage the work performed by other members of the Risk Management Team including the Risk Director, IT Risk Director and Risk Analyst. The Lloyd’s Risk Manager is a senior position and will be expected to use their skills to help influence our nimble and innovative business. This role will provide unique insight and access into the world-class underwriting process along with all other key functions for the business. The Lloyd’s Risk Manager will have to be highly organised, detail orientated and an effective stakeholder manager. This person will need to be a strong communicator (written and verbal) with a high level of emotional intelligence. We are looking for someone with significant experience in both Specialty or General Insurance and Risk Management but are open to candidates with the requisite skills and comparable experience in other sectors. Direct experience in the Lloyd’s of London Market and, in particular, with Managing Agencies would be highly valuable experience for this role. The Lloyd’s Risk Manager will be instrumental in enhancing and embedding the ongoing monitoring of the Lloyd’s of London syndicates that will be managed by The Fidelis Partnership. One of these (Syndicate 3123) commenced operations on 1 July 2024. The Risk Management team covers a comprehensive view of enterprise risks including strategic, operational, service, regulatory and financial risks. The Risk Management function also works closely with the Exposure, Pricing and Capital functions to oversee insurance risk for the carriers serviced by The Fidelis Partnership. Role Responsibilities The Lloyd’s Risk Manager will take primary responsibility for the following: • Managing the quarterly risk review (QRR) and top risk review process with key function leaders and control owners contributing to TFP’s Lloyd’s operating model in TFP and with key Pine Walk MGA leaders, • Drafting and contributing to regular risk reports to Boards, Board Committees and Management Committees across the Group, including the syndicate risk report and the Pine Walk MGA risk report, • Monitor and mature the risk appetites for the active Lloyd’s of London Syndicates being manage by TFP, • Coordinating impacts of business and operational activity impacting the syndicate risk registers as well as related stakeholders including Compliance, Internal Audit and SOX (carriers), • Taking the lead on syndicate-related Risk Incident responses, • Developing a working understanding of new risks or controls, • Facilitate the use of a new GRC system to streamline the use of the Group risk register (implemented in Q2 2024), • Manage the day-to-day activities of Risk Team members (currently, one Risk Analyst) The Lloyd’s Risk Manager will support the Risk team in the following activities: • Demonstrating adherence to market expectations around ESG and Climate Change Risk, • Support the CRO to Chair the Insurance Risk and Exposure Committee (IREC), including the development of strong oversight controls over the Exposure Management, Capital and Pricing functions, • Working with functional leaders and business partners to identify, categorise and develop an effective strategy to manage Emerging Risks, • Support the maintenance of the syndicate Risk Governance Framework (e.g., policies, procedures and frameworks), including annual reviews, • Develop and delivery risk training where required, • Maintain strong working relationship with risk functions in partner organisations, • Supporting the business to keep wind-down (resolution) plans current and relevant Key stakeholders include: • The Fidelis Partnership Boards and Management Committees, • Key groups: Syndicate Executive Team (SET), Syndicate Steering Committee, IREC, Exposure Management, TFP Finance and TFP Underwriting, • Key individuals: Active Underwriters,, • The Fidelis Partnership functional leaders in London, Dublin, Bermuda, Brussels and Abu Dhabi, • Asta Managing Agency as the managing agency for Syndicate 3123, • Key service providers, including off-shore support in Noida, India, • Heads of functions across The Fidelis Partnership Skills & Experience • University degree, preferably in Mathematics, Science or Economics, • Strong preference for candidates with advanced degree or relevant industry qualifications, • Strong academic background and mathematical acumen, • Experience with managing risks around outsourcing of key business services, • 7+ years’ experience in the Insurance Risk sector (Risk Management, External Audit, Internal Audit), • Additional experience in the wider Insurance industry is a plus, • Excellent Microsoft Office skills, in particular Microsoft Excel, PowerPoint and PowerBI, • Experience working with Financial Regulators across multiple jurisdictions (e.g., PRA/FCA, CBI, BMA, FSRM), • Must be a strong critical thinker who can interrogate the data to ensure it makes sense and provide challenge when required, • Must be able to balance working on detailed projects and maintaining the ability to step back to understand enterprise risks, • Must be able to respond positively during busy periods through multi-tasking and effective prioritization against needs of business The Fidelis Partnership Ethos Our culture is defined by our ethos. It is the foundation of who we are and the core of everything we do. • Results – We want to be the best at the things we care about, so we focus on profitability over volume, with responsive decision-making and clear prioritised accountability., • Innovate – We aspire to lead the market in providing the services and products our clients need, and to drive change in the broader impact our industry has on human rights, society, and environmental sustainability., • Include – We create an environment where employees can bring their whole self to work, with open communication where everyone, irrespective of gender, ethnicity, sexual orientation or background, feels able to contribute ideas and be recognised and rewarded for their contribution, • Unite – We operate as team of individual talents that actively seeks to reflect the diversity of the societies in which we operate, giving our business the widest range of inputs and perspectives., • Respond – We work in a business exposed to sudden shocks and changes – elemental, political, economic and human – so we remain nimble and ready for change. Diversity, Equality & Inclusion Our vision is for a workplace culture where differences are valued and where diversity of background, experience and thought are welcomed. We want to create an environment where all employees, regardless of who they are, are given equal opportunities for career progression and enjoy fair reward from their and The Fidelis Partnership successes. This will be driven by a workforce that embraces Diversity and Inclusion at every level, in every department across The Fidelis Partnership.