Group Operational Risk Lead

The role

• You will support the business in its desire to identify, measure, monitor, manage and report risks across the business.
• You will aim to enhance the approach for the identification, resolution, capture and escalation of operational and customer outcome risks whilst mitigating any exposures.
•  You will work closely with senior management throughout Admiral Group to review all aspects of risk management.
• Facilitate regular business unit risk reviews with senior management to support the embedding of risk management across Admiral Group and ensure consistency in approach.
• Provide consultancy and support business units in managing risk within their areas via regular risk reviews, risk event root cause analysis, education and awareness sessions and attendance at Governance Management Committees and/or steering committees.
• You will co-ordinate the Group Risk Appetite process, proposing appropriate Early Warning Indicators (or Key Risk Indicators), Triggers and Limits and reporting mechanisms to the relevant committees and/or Boards.
• You will support the stress and scenario testing for the Group and input to the wider ORSA process including production of the annual ORSA report for Board approval.
• You will report to the Group Head of Risk.

Key Responsibilities:

• Responsible for co-ordinating the creation of the Consolidated Risk Report for assessing and reporting on the Group risk profile to Group Committees and Boards
• Responsible for Recommending, updating and maintaining the Group Risk appetite
• Responsible for Entity oversight, supporting subsidiaries in defining and approving local risk appetite
• Responsible for measuring, monitoring and managing Group risk exposure, including performing deep dive reviews, thematic risk reviews and adherence (e.g., into policies, frameworks, GMS)
• Responsible for assessing and reporting regular and ad hoc MI and reporting on Group Risk profile, including risk registers, risk events and risk appetite.
• Monitor and report on all material risk events across the Group to the relevant Committees and Boards through the Consolidated Risk Report.
• To support the ongoing management of all risks facing the business including operational risks, ensuring current processes remain fit for purpose and support the management and mitigation of any exposures.
• Manage and support risk reviews throughout Admiral Group reporting outputs to relevant committees and/or Boards.
• Produce analysis and report on the risk and control environment ensuring timely identification of issues, themes and horizon scanning for emerging risks.
• Develop a Group Operational Risk team through 1-2-1s; people management, team meetings and training (formal and informal)
• Support the Own Risk and Solvency Assessment process including the annual production of the ORSA report at both Group and AECS level.
• Provide support and oversight of the risk management processes in the international business units.
• Represent Risk in relevant Committees and meetings and provide recommendation for action.
• Promote and embed enterprise risk management (ERM) processes, awareness and understanding across the Group in order to minimize the effects of adverse outcomes on capital and earnings.
• Providing support and oversight of the risk management processes in the international and non-insurance business units.
• Remain aware of leading practices on managing risk and keep up to date on current industry practises and implement change where needed within the development plan ensuring timely insight on industry thinking.
• Develop and maintain key stakeholder relationships across the Group.
• Subject matter expert on the European businesses and provide AECS with valuable support.

Candidate profile

• Good working knowledge of UK regulations including Solvency II and Basel III
• Regular attendee/member at committee and board level
• Able to build open relationships and gain consensus with all internal stakeholders
• Ability to work independently and proactively as well as leading a team
•  Able to multi-task contracts and projects, work under pressure and lead large complex projects
• Objective, timely and confident decision-making skills
• Attention to detail, with an analytical mindset
• Strong influencing and persuasion skills
• Commercially minded
• Great working knowledge of the Admiral Group

Our Commitment to You

At Admiral, we are committed to being a diverse and inclusive workplace. Admiral is proud to be an equal opportunities employer and does not discriminate on the basis of race, sex (including pregnancy, childbirth, reproductive health decisions, or related medical conditions), national origin, gender, gender identity, sexual orientation, disability, age, or any other legally protected status.

Salary, Benefits and Work-Life Balance

We do not have a set salary for this position, as it will be dependent on the successful candidate’s experience. We are happy to see CVs from all candidates who meet the requirements and will be happy to discuss the remuneration package.

At Admiral, we are proud to be a diverse business where we put our people and customers first. We have great benefits to ensure employees have a great work-life balance; it's one of the reasons we’re consistently voted one of the Sunday Times Best Big Companies to Work For in the UK. We want you to have an element of freedom to define a working lifestyle that supports this, so accommodate flexible hours wherever possible.

You can also view some of our other key benefits here; https://admiraljobs.co.uk/employee-benefits/.

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