Risk Manager – Hiscox Europe

Job Type: Permanent Build a brilliant future with Hiscox
Position: Risk Manager – Hiscox Europe Reporting to: Head of Risk, Legal and Compliance Location: Luxembourg Band: III Type: Permanent, full time About Hiscox Europe Hiscox Group is a diversified international FTSE 100 insurance business with a powerful brand, strong balance sheet and plenty of room to grow with a market capitalization of ~£4.1 billion. They are headquartered in Bermuda, listed on the London Stock Exchange, and currently have over 3,000 staff across 14 countries and 35 offices. Their products and services reach every continent, and Hiscox is one of the only insurers to offer everything from small business and home insurance to reinsurance and insurance-linked securities. Hiscox Europe is a culturally diverse business unit with ambitious plans for the future. There is a focus on strong and collaborative partnerships with Brokers and Banks, launching innovative new products, delivering superior service and growing the Direct to consumer business. Our people are integral to our success and help us drive through innovation and stay agile in a fast paced market. The Role Reporting into the Chief Risk Officer for Europe, you will lead Risk activity across the European business. You will lead the processes and mobilisation of resource to deliver effective and coordinated risk management and reporting. You will develop meaningful, collaborative business working relationships to influence, challenge and verify risk decision-making and drive a culture across the business that understands and values risk management. In addition to being part of the European business, you will also be part of a broader Group-wide community of risk professionals. You will be an active participant in this community, contributing thought leadership on risk management across the group and leveraging the wider team for support and advice as needed. Key Relationships Report to: William Rose, Chief Risk Officer, Europe Direct Reports: Risk Analyst Other key relationships:

• European Management Team and other senior risk and control owners;
• Group Risk & Compliance Leadership Team;
• Luxembourg Commissariat aux Assurances

Key Responsibilities

• Lead risk management processes: Run and optimise processes to ensure effective identification, measurement, mitigation, monitoring and reporting of exposures. . Stay abreast of key market risk issues and regulatory requirements, trends and implications. Review and challenge the design and monitoring of controls by the rest of the business, as well as provide advice and assistance to drive improvement. Ensure that an effective and commercially sensitive Risk function operates that provides both assurance and risk management.
• Stakeholder management: Engage risk and control owners to build knowledge of their business/functions, understand current and developing areas of risk, identify gaps and exposure areas and provide advice and opinions. Actively work to educate and provide risk management expertise to the first line and hold first line owners to account for addressing key risk and control issues. Drive a culture that understands and values risk management across the organisation. Foster a positive culture of confident and informed risk-taking through training, communication and promotion of the agreed risk framework.
• Manage production of risk reporting and documentation: Lead creation and coordination of risk reporting and documentation including Board/Risk Committee packs, ORSA reports, Risk & Control Registers, risk policies, risk dashboards, regulatory assessments, presentations to meet internal and external deliverables, etc.
• Conduct risk reviews: Coordinate and perform detailed risk and control assessments to better understand exposures; evidence effectiveness of control design, related monitoring and reporting processes; and to assess residual risks.
• Compile regular risk MI: Reporting to the European Management Team and relevant Boards.
• Training : Provide employee training on risk management, and relevant policies and procedures.

Ideal Experience and Credentials

• Quantitative background and/or experience in non-life insurance (e.g. accounting or actuarial) including business model, profitability drivers, underwriting and risk management practices, either as a practitioner or consultant;
• Knowledge of Risk Management practices within an insurance company including board governance, risk assessment, policies and procedures, risk measurement and risk reporting;
• Demonstrate in-depth risk capabilities and professional knowledge, particularly in operational risks;
• Have demonstrable experience of managing the local implementation of Group risk management policies, methodologies, standards, procedures and processes to drive embedded risk management across all types of risk, and creating easily accessible enterprise reporting for material risks and risk limits.
• Familiarity with relevant European insurance regulatory regimes (e.g. Solvency II);

• Versatility / flexibility : Ability to get into the low level details of the business and consistently deliver quality second line challenge, support, and assistance to the business; but also able to conduct Senior management, Executive and Board level presentations as well as interacting with external stakeholder (Lux Regulators)

• Credible with strong influencing skills with all internal and external stakeholders, enjoys explaining to wider audiences.
• A driven, committed and passionate individual who strives for high quality.
• Excellent written and verbal international and intercultural communication skills.
• Fluent in English and ideally French too.

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