Main Purpose of the role:
To work under the direction of more experienced members of the Risk team to assist with:
• Develop knowledge of allocated risks and emerging risks
• Support the development and implementation of Asta’s risk management framework, and supporting processes for clients, and within Asta.
• Focused on managed clients and AstaPoint risk system maintenance
• Collect and examine data, drawing out trends, exceptions and risks
• Produce draft reporting
• Develop understanding in allocated specific risks
Key Responsibilities:
1) Risk management framework:
* Support the Enterprise Risk Manager in maintaining any allocated sections of the risk framework including underlying processes.
* Development, maintenance, and enhancement of the risk framework, and underlying processes.
2) Risk identification:
* Assist the identification of risks across Asta and for clients allocated to them.
* Documents the risks across Asta and in the AstaPoint software.
* Assists in running risk workshops to identify risks.
* Prepare emerging risk analysis for allocated risks as required, drawing on external sources as appropriate.
3) Risk reporting:
* Preparing elements of risk reporting as requested by the Enterprise Risk Manager or Head of Risk.
* Preparing risk reports based on AstaPoint data, ensuring adequate data quality.
4) Risk monitoring:
* Maintain risk register records in AstaPoint and provide for specific allocated risks.
* Conduct ad-hoc reviews as required for clients and risks.
5) Risk appetite, KRIs and risk events:
* Update and maintain KRI and risk event reporting.
* Contribute to risk appetite development, KRI measurement, and risk event reporting.
6) ORSA:
* Draft ORSA sections as required, including forward looking assessments, stress tests, reverse stress tests and risk analysis.
7) Validation
* Complete validation work as allocated by the Enterprise Risk Manager.
8) Stress & scenario testing:
* Complete stress and scenario testing as directed by the Enterprise Risk Manager.
* Document stress and scenario testing workshops.
Key personal skills required:
1. Communication: Excellent interpersonal and written skills that enable the job holder to build trust with senior members of Asta and the managed syndicates, and persuade them of the business benefits of an embedded enterprise-wide risk management culture
2. Credibility: Possess an enthusiasm for risk management that persuades others of its value. Potential to become confident and able to deal at senior levels within Asta and the managed syndicates to influence business leaders.
3. Integrity: The ability to take a coherent, clear approach where required.
4. Flexibility: The ability to retain a sense of perspective and recognise the occasional collision between “real world” situations and reality.
5. Personality: The ability to work both independently and within a wider team.
6. Accuracy: High level of accuracy and attention to detail
Key technical skills, knowledge and professional qualifications required:
1. A basic understanding of the insurance market and risk, with a basic understanding of the activities of a Lloyd’s syndicate
2. A keen interest in the understanding of risk management and control concepts.
3. A basic understanding of Solvency II and other regulatory requirements; an understanding of how they impact on the business desirable.
4. Ability to use systems and software programs needed to perform responsibilities of the role.
5. Experience of MS Office (Word Excel, PowerPoint) to an intermediate level desirable.
6. Experience of the AstaPoint (Decision Focus) risk management system is desirable.