Operational Risk Analyst - City, London, United Kingdom, EC1A2
Operational Risk Analyst
This Lloyd's Syndicate is looking for an Operational Risk Analyst who will be responsible for supporting the Operational Risk Manager in managing the operational risk for all regulated entities in line with the Group's Risk Management Framework. The role reports to the Operational Risk Manager.
- Bonus of 10% of annual salary
- 8% non-contributory pension
- Health and dental insurance
- 27 days holiday entitlement
Main Duties and Responsibilities:
This vacancy has arisen due to the creation of a development opportunity for those seeking a career in Operational Risk. As well as assisting colleagues across our entire range of business operations to help minimize operational risk, the post-holder will benefit from mentoring and development to enhance their existing interest in this key function. This high-profile role provides access to senior management and executives and offers an enviable view of an entire business's structure. The position sits within the Enterprise Risk Management & Analytics team which forms part of the larger Risk & Actuarial department.
Core Task Requirements/Responsibilities:
- To assist with the maintenance of the risk register for all entities;
- To support the production of risk assessment reports for the Operational Risk Working Group (ORWG)
- To ensure timely annual review of all risk policies in line with the agreed timetable;
- To support the Operational Risk Manager in the reporting of operational risk to the relevant committees;
- To assist in the recording, monitoring and investigation of risk events / incidents;
- To collate metrics for quarterly risk reports;
- To support operational risk analysis in line with the Operational Risk Framework e.g. thematic reviews, quarterly risk reviews and validation of operational risk;
- To coordinate the ORWG and Incident Management Team (IMT);
- To provide support and assist the Operational Risk manager with the management of all Business Continuity/IMT tasks;
- To update the Risk and Actuarial Business Continuity Plan;
- To assist in monitoring performance and follow up of the Risk teams financial controls;
- To update the risk sections of the Solvency II document library;
- To undertake any ad hoc duties as necessary, such as data inputting, collating information and producing reports;
- To establish and maintain effective working relationships across the risk management team and across other internal departments.
- Up to 3 years of experience in the relevant industry;
- Previous risk management experience gained within the general insurance sector is desired, along with any progress towards CII or IRM certification;
- Those who have completed an internship with a focus on risk management, or including a rotation, will be considered;
- Some knowledge of risk management tools and disciplines;
- The ability to challenge and question established practices and contribute to the development of new processes, as necessary with input from management;
- Strong communication and interpersonal skills with the ability to establish and maintain effective working relationships;
- Excellent IT skills, in particular an advanced level of MS Excel, Word and PowerPoint.
This opportunity would suit those who have already commenced a career in Operational Risk and have a clear understanding of the fundamental principles of risk management. It may also be suitable for someone who has a basic understanding of risk through working in a larger team with limited risk exposure due to the segregation of risk responsibilities. The role reports directly to the Operational Risk Manager and offers a brilliant opportunity to work within a collaborative team with scope for growth and development. Opportunities include exposure to all elements of the risk management framework including the identification, measurement and reporting of risk information to risk committees.
- You will be naturally inquisitive, numerate and analytical, with an attention to detail;
- You must be proactive, highly organised and have the ability to multi-task and work in a fast paced environment;
- Comfortable working autonomously;
- Strong communicator in both written and verbal format.