Head of Enterprise Risk Management (9 month FTC)

General Job Title: Head of Enterprise Risk Management (9 month FTC) Division: Risk and Compliance Key Relationships:  Risk and Compliance, Controls and Compliance Assurance Team, Group Actuarial, Internal Audit, Culture & People, Finance and Operations teams Job Summary: Enable business strategy, protect clients, and embed and steward a strong risk culture

Lead implementation, ongoing oversight, and regular review of the group’s enterprise risk management and control assurance frameworks, ensuring these comply with all relevant rules and obligations. Work collaboratively with the second line SLT. This role will ensure sound and mature business judgement is applied to advise and facilitate on risk management, controls and governance

Key Responsibilities Implement, maintain, and raise awareness of the Enterprise Risk Framework, including: Corporate Risk Profile; Risk Appetite; Risk Taxonomy; Control Environment; Key Risk Indicators; and Governance

Develop, implement, and maintain effective enterprise, emerging and operational risk frameworks across the group

Develop, implement and maintain effective 2nd Line control assurance methodologies, plans and processes

Lead the ongoing development of our GRC system, supporting processes and enhancements in the control environment

Maintain risk policies and standards, develop suitable KRIs and other relevant risk metrics

Liaise with key stakeholders to complete risk appetite monitoring

Ensure effective Risk and Control Self-Assessments (RCSA) are performed across the group

Articulate the key risks to senior management and the relevant governance forums

This includes identifying areas for process/control improvement

Support key operational initiatives including business continuity planning, disaster recovery, information security, and operational resilience

Contribute to the production of risk reports for the Board, Risk Committee, and others as required

Administer the process for the capture of loss events and near misses and investigate and document the root cause of incidents and planned remedial actions

Maintain records and progress trackers of all ERM activities

Contribute to an effective ORSA process and report, including a focus on individual syndicates

Provide training to the business to support and implement a strong risk culture

Senior leadership team Be an active SLT member ensuring that the 2nd line vision and strategy is periodically refreshed and delivered

Communicate the vision and strategy to the function and other stakeholders

Ensure that the team are informed of and represented on relevant business projects and seen as business enablers from a risk challenge and support perspective

Provide leadership, direction and support to direct reports and team as per the organisation chart

Proactively champion a continuous improvement mindset, unconstrained by current technologies or processes

Able to identify value adding quick wins and longer-term improvement opportunities

Team Leadership: As a Beazley Manager, you are expected to: Provide leadership, direction and support to the team.  Foster a spirit of inclusion, teamwork and unity that reflects Beazley’s overall workplace culture, values and appreciation of the benefits of diversity.  Act as a manager, mentor and coach to direct reports to enable them to fulfil their potential, ensuring continuous development of them and the wider team.  Ensure direct reports are supported in contributing to the delivery and achievement of the overall team and business objectives.  Provide effective performance feedback on a regular basis, ensuring employees are recognised and rewarded for their contribution.  Conversely, provide timely feedback to address poor performance, taking disciplinary action as appropriate.  Maintain transparent and effective communication through department meetings, one-to-one meetings, email etc.  Encourage knowledge sharing and effective delegation to minimise key person dependencies.   Work with other team managers, to ensure team resources are effectively utilised and people are appropriately challenged.   Encourage direct reports to think proactively about their careers, signposting development and stretch opportunities for strong performers where possible.   Work with Culture & People as appropriate to escalate performance concerns, to ensure set objectives are clear and measurable and progress is tracked accordingly

General It is important that within all your interactions both internally and externally you adhere to Beazley’s core values - Being Bold, Striving for Better, and Doing the Right Thing – as they contribute to an internal environment of teamwork and promote a positive brand image and experience to our external customers

We also expect Beazley employees to: Comply with Beazley procedures, policies and regulations including the code of conduct which incorporates the PRA and FCA Conduct

Undertake training on Beazley policies and procedures as delivered by your line manager, the People & Sustainability or assurance teams (compliance, risk, internal audit) either directly, via e-learning or the learning management system

Display business ethics that uphold the interests of all our customers Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs

Comply with any specific responsibilities necessary for your role as outlined by your line manager, the People & Sustainability or assurance teams (compliance, risk, internal audit) and ensure you keep up to date with developments in these areas

This may include, amongst others, Beazley’s underwriting control standards, Beazley’s claims control standards, other Beazley standards and customer relationship management

Carry out additional responsibilities as individually notified, either through your objectives or through the learning management system

These may include membership of any Beazley committees or working groups

Personal Specification: Education and Qualifications Bachelor’s degree in Risk Management, Finance, Economics, Actuarial Science, or a related discipline; and/ or Professional qualifications in risk or insurance (IRM Diploma, CII Advanced Diploma)

Skills and Abilities Excellent management skills with the ability to influence and manage a team of professionals

Accomplished relationship manager

Readily able to influence and negotiate at senior levels within the business

Ability to manage time, meet deadlines, and prioritise

Motivational skills, team worker as well as able to work on own initiative

Ability to work under pressure and to tight deadlines

Change management skills – have a track record for designing and implementing robust change management to review and improve existing practices and procedures

General commercial and financial knowledge

Strong communication skills, able to communicate at all levels, both verbally and in writing

A demonstrable track record of strategic thinking

Hands-on implementer, able to drive through change where appropriate

Technical expertise – in-depth knowledge of insurance/reinsurance through practical application, including a thorough understanding of the key functions across insurance and reinsurance firms

Ability to develop high performing teams, including a culture of continuous improvement where the function is seen as “value add”

Strategic thinker capable of grasping the bigger picture

Ability to articulate complex messages to senior management in order to facilitate effective monitoring and decision making

Ability to quickly analyse complex issues, making the correct recommendations

Strong problem-solving capability

Ability to effectively challenge the 1st line, as required

Knowledge and Experience Clear definition of 1st and 2nd line understanding and responsibilities

Experience in managing 1st and 2nd line challenge and articulating 2nd line risk perspective

Significant experience in the developing and updating risk management and control frameworks

Significant experience and knowledge in financial services, preferably in insurance

Experience in implementing effective ORSA, including a focus on individual entities or syndicates

Evidence of 2nd line challenge

General commercial and financial knowledge

Aptitude and Disposition A strong communicator

Outcome focussed, self-motivated, agile, and flexible

Able to understand and articulate the strategic “big picture”

Technically innovative, a problem solver and solution builder

Professional approach to interact successfully with colleagues

Able to work with multi-cultural and multi-location teams

Ability to work closely in a team environment and develop productive working relationships.