Risk Officer

York-based, with flexible working options
£40,000 - £55,000 + Pension, Bonus, Benefits
14 May 2021
13 Jun 2021
Hiscox Group
Job Type
Risk, Risk Management
Contract Type
Full Time

Risk Officer - 2LoD
Reporting to: Group Risk Director
Location: York-based, with flexible working options

This multi-faceted role offers an exciting opportunity for a risk professional. You will support the Group's central Risk Team in coordinating and carrying out risk management activities spanning across various geographical business units and legal entities. Exposure to different regulatory regimes operating across multiple jurisdictions, alongside understanding the complexity of operating within a group framework will provide the successful candidate with an excellent foundation in Enterprise Risk Management. There is frequent exposure to key internal and external stakeholders and the role also involves providing credible second line challenge to the business.

The Team:

The Risk team is responsible for facilitating the implementation, delivery and oversight of Hiscox's Risk Management Framework which includes risk appetites, emerging risks and incident capture and analysis operating to a three lines of defence risk management model. As a second line function, the Risk team balances its role of supporting the business with its responsibility to provide credible, effective challenge. The team produces high profile reporting that is seen by Executives, Boards and Risk Committees both at a Group level and for subsidiary legal entities. In some instances this reporting is also provided to regulators.

Key responsibilities:

  • Provide support to the Group Risk Function in delivering its objectives.
  • Support the Risk Function in managing and embedding: the Risk and Control Self-Assessment (RCSA) process; Group risk policies; the Risk and Control Register (RCR); Internal Controls Framework (ICF); and Critical Risk Tracker.
  • Assist with the preparation of papers and documents to be discussed at Board level and Executive level Risk Committees.
  • Support the production of the Own Risk and Solvency Assessment (ORSA) reports across the Group, leading in selected areas or for specific legal entities.
  • Support the analysis of reported risk events and consider how external datasets can be used to help inform internal analysis.
  • Contribute to business second line challenge through involvement in stakeholder meetings and specific risk reviews.
  • Develop their subject matter expertise, including through self-study, attending industry / market meetings.
  • Stay abreast of regulatory developments in respect of risk management and the commensurate requirements and implications to the business.
  • Take a role in the delivery of regulatory requirements including submissions to a range of regulators of the Hiscox group.
  • The role has direct exposure to the Group Risk Director and Group Chief Risk Officer on a day-to-day basis.

Qualification / Technical experience:

  • Proven knowledge or experience of Enterprise Risk Management or a focused risk area. Risk experience through insurance audit, compliance or consultancy roles will be considered.
  • Solid understanding of key enterprise risk techniques and related common good practice along with some deep knowledge and experience in key risk types as applicable to insurance / reinsurance
  • Experience in meeting corporate and regulatory requirements and related reporting.
  • Motivate and collaborate: leverage strong interpersonal skills to interact with, influence and encourage risk owners and business stakeholders to positively respond to questions, inquiries and requests for information; also, be genuinely open to receiving and integrating feedback.
  • Qualification or progress towards qualification in related field (e.g. risk management, insurance, finance, accounting).
  • Knowledge of Lloyd's market is advantageous.

Diversity and flexible working at Hiscox

At Hiscox we care about our people. We hire the best people for the job and we're committed to diversity and creating a truly inclusive culture, which we believe drives success. We also understand that working life doesn't always have to be 'nine to five' and we support flexible working wherever we can. No promises, but please chat to our resourcing team about the flexibility we could offer for this role.

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