Risk Actuary

Up to £80,000 + Benefits
12 Jul 2018
12 Aug 2018
Contract Type
Full Time

Consultant Name: Ben Ballard

Telephone Number: (0)203 867 9861

Email Address: ben.ballard@emerald-group.com

Key Responsibilities:

  • To manage technical and other aspects of specific client assignments (including building/reviewing analytics tools and models and preparing client reports), within agreed budgets and timeframes;
  • To manage relationships with, and expectations of, specific clients;
  • To attend client meetings as required and to assist in the timely production of reports to clients;
  • To assist in the development and implementation of the practice’s marketing plan; and
  • To deliver presentations and produce articles in collaboration with other members of the team.

Skills/ Qualifications:

  • Qualified actuary with CERA certification
  • Nearly qualified actuaries or (re-)insurance risk specialist with good relevant experience will also be considered
  • Good experience working in a risk management role
  • Excellent understanding of technical and operational issues affecting business
  • Insurance industry experience
  • Risk Management Framework:
    • Develop, monitor and maintain the local Risk Management Framework, ensuring that it meets local, Group and regulatory requirements. Support management in implementing the Risk Management Framework
    • The Risk Management Framework consists of the Risk Management Objectives, Risk Management Systems, and Risks & Controls Processes
    • Support the development and delivery of strategic plans for the Risk Management Function
  • Risk Management Function:
    • Performs the tasks, authorities and responsibilities assigned to the Risk Management Function in the Risk Management Framework, as set out below:
      • General:
        • Takes day-to-day responsibility for maintaining and monitoring the Risk Management Framework across the company
        • Communicates any concerns about the efficiency and effectiveness of the Risk Framework to the Head of Risk Management Function
        • Maintains good open communication with Group Risk Management
      • Risk & Controls Process:
        • Takes day-to-day responsibility for monitoring the implementation of the Risks & Controls process across the company
        • Provides a regular evaluation of the Departmental Risk & Controls Process
        • Support management to develop and implement Risk Work plans. Monitors progress in implementing these and conduct post-implementation testing to assess their effectiveness
        • Communicates concerns relating to the application of the Risk & Controls Process to the Head of Risk Management Function and the Operational Council
      • SAOR:
        • Facilitates workshops with experts, reviews and challenges the results of the SAOR discussions
        • Submits final assessment to Group and reviews outcome
      • Risk Event Log:
        • Manages the Risk Event Log to ensure it is filled out correctly and contains all necessary information
        • Works with the business to review risk events, identifying and agreeing actions to mitigate the risk in the future. Reports to management on the progress of implementing these mitigating actions
        • Reports risks quarterly to Group for inclusion in the Loss and Learn database
      • Risk Committee:
        • Act as Secretary to the Risk Committee
        • Provide feedback on the activities of the Risk Management Function
        • Provide feedback on the monitoring of the Risk Management Framework across the company
        • Manages the implementation the decisions of the Risk Committee
      • Risk Reporting:
        • Support the Head of Risk Management Function to prepare the annual risk report, ORSA, SFCR and other information required by Group and local regulators and Group Risk Management
      • Risk KPIs:
        • Suggests Risk KPIs to Heads of Department and ensures these are updated on a regular basis, including monitoring performance against the Thresholds and Limits allocated to the department
        • Provides the Head of Risk Management Function and Operational Council with regular Risk KPI information
      • Risk Communication:
        • Be a source of information on risk related matters
        • Manages the communication of risk management across the company
  • Model validation: Support the independent validation of Corporate Actuarial models. Review the calibration of the local Internal Model and produce a calibration report
  • Maintain a high level of knowledge of the industry and the issues it faces with a focus on how these impact the company and its clients. Share this knowledge across the company
  • Identify issues within the department and revise working methods/processes to enhance effectiveness, quality and processes for the department
  • Adhere to all Local and Group Guidelines
  • Support all other department and company projects as required

Job Competencies & Skills


  • Communicating and Influencing:
    • Identifies key stakeholders and builds a strategy to influence them, taking account of their needs, perspectives and personal style
    • Involves others in decisions to gain their buy-in and support
    • Negotiates confidently in difficult situations without damaging relationshipsBuilds support and buy-in for ideas behind the scenes
  • Delivery and Accountability:
    • Creates and implements action plans to get delivery back on track
    • Prioritise resource to ensure deliverables and priorities are met
    • Spots potential issues which may impact delivery and/or quality and takes action immediately to find solutions
    • Actively manages stakeholder expectations where delivery may be impacted
    • Takes the lead and acts as a role model in achieving shared deliverables
  • Innovation & Continuous Improvement:
    • Lead significant internal change, at a functional level
    • Looks widely to adopt and adapt ideas from competitors or other sectors
    • Shares intellectual capital across the Branch and Group
    • Identifies new ways of working that improve effectiveness
    • Gets buy-in and generates enthusiasm for specific changes at a team / departmental level, using different strategies to support individuals experiencing change


  • Risk management

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