In March 2021, the FCA and PRA published several Supervisory Statements outlining their expectations for the operational resilience of Firms’ Important Business Services. The objective of those statements is to ensure that Firms, Financial Market Infrastructures, and the financial sector can prevent, adapt, respond to, recover, and learn from operational disruptions. The regulation will be fully operational, and Admiral will need to be fully compliant by March 2025.
In Gibraltar, the market is on a similar journey with the Gibraltar Financial Services Commission (GFSC) requiring Firms to have identified Important Business Services and set Impact Tolerances by 13 July 2024, with full implementation by 13th July 2026 under the Financial Services (Operational Resilience) Regulations 2023. Admiral’s largest insurance entity is based in Gibraltar, manufacturing products distributed into the UK through EUI and ABLE.
In this role, you will coordinate and support the continuous resilience of AIGL’s intermediaries within the Admiral Group from an Operational Resilience perspective, overseeing best practice within EUI and leading the implementation of the Operational Resilience framework in AIGL with a particular focus on AIGL’s intermediaries who were out of scope of the UK regulations. This will include ensuring the business is identifying and controlling operational resilience risks, engaging stakeholders, creating documentation and process, and delivering the framework on time.
You will work closely with a broad range of stakeholders, including target business areas to understand and analyse Operational Resilience needs across AIGL. Working diligently to support the Important Business Services (IBS) within AIGL, you will instil best practice to ensure continuous compliance to regulations, and internal policies. The role will always require a high level of professionalism and confidentiality.
The role can be based in the UK or Gibraltar with a very high degree of collaboration and embeddedness with/within the Operational Resilience team in Cardiff.
Main Duties
- Expedite the delivery of the Operational Resilience and Third-Party framework, ensuring that it is embedded in ABLE the organisation and in line with regulatory obligations.
- Leading activities and discussions around the Operational Resilience eight steps, including regular review of existing Important Business Services and identification and scoping of new ones.
- Reviewing change activity across the business to assess and understand potential Operational Resilience impacts and determine requirements.
- Engaging and collaborating with stakeholders across the business acting as an advocate for Operational Resilience and driving standards, best practice, and requirements.
- Performing scenario testing across all IBS areas, dependencies such as third parties and departments to assess current resilience state and identify gaps.
- Tracking Operational Resilience vulnerabilities to ensure they are remediated by the July 2026 deadline, and proactively identifying new ones that need to be addressed and controls, risks, and mitigations.
- Developing and producing Operational & Third-Party Resilience MI & reporting.
- Support and attend the relevant governance committees and working groups in Group, AIGL, ABLE and EUI
.
- Supporting the production of annual self-assessment of operational resilience work performed within the Operational Resilience area.
- Producing documentation in line with the Operational Resilience regulation.
- Working collaboratively with multiple departments, across AIGL to ensure all necessary documentation and actions are completed.
- Engage with ABLE/EUI Risk on the identification, monitoring, managing, and reporting of emerging risks/environment scanning that can affect the firm’s operational resilience.
- Provide training to management and operational areas on the identification and management of operational resilience risk in our suppliers’ delivery of services to AIGL.
- Perform regular assurance reviews over Operational & Third-Party resilience framework to ensure standards have been adopted by the business and are working in practice. Assessments will also include a review of best practice and industry standards.
In addition to the above core responsibilities, you will be expected to assist the team in delivering against our wider objectives including management support, as necessary.
Role requirements
- Ability to build strong working relationships with Senior Managers and provide a valuable contribution to decision making
- Effective influencing skills and a collaborative team working approach.
- Strong connection to outside world, understanding of Regulatory expectations and industry trends (knowledge of GFSC expectations an advantage)
- Strong communication and presentation skills, including to senior internal and external stakeholders and in formal settings such as Board meetings.
- Strong analytical skills.
- Customer focused.
- The ability to build and maintain effective relationships with stakeholders and deliver both challenging and positive messages.
- The ability to articulate issues concisely orally and in working papers and reports for key stakeholders highlighting where Operational Risks are present and/or customer are not receiving fair outcomes.
- The ability to find creative solutions to support Suppliers, customers and the business in the effective management of Risks and Issues.
- Demonstrate a proactive and collaborative approach when sharing insights into compliance and conduct issues.
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.
All colleagues will receive 33 days holiday (including banks holidays) when they join us, and this will increase with length of service, up to a maximum of 38 days (including banks holidays). You also have the option to buy or sell up to five days of annual leave in addition to your allocation.
You can also view some of our other key benefits here.
#LI-CC2
