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Head of Financial Risk

Employer
UNUM
Location
Dorking, Surrey, United Kingdom
Salary
Competitive Salary
Closing date
Oct 30, 2020

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Job Role
Finance Director/Head of Finance
Sector
Finance
Contract Type
Permanent
Hours
Full Time
Who are we?

We are Unum - one of the UK's leading employee benefits providers.

We've been around for 50 years, currently protecting over 1.7 million people, providing security and peace of mind to individuals and their families.

With a Fortune 500, US parent company, we're part of highly successful global organisation, sharing ideas and innovations across teams to create a collaborative work environment. We're transforming our business, and we're keen to increase our digital capabilities to evolve the way we work and optimise opportunities for growth.

The role

What will you be doing?

As Head of Financial Risk, you will support the Chief Risk Officer with the independent challenge and reporting of our financial risk exposures, ensuring they are appropriately identified, assessed, controlled, monitored and reported.

You will oversee the development and deployment of financial risk management by the first line and providing review and challenge as appropriate. This includes providing advice and guidance to the UK Board and Senior Management Team in the definition of its financial risk management strategy, policy, performance measures, and its subsequent execution throughout the UK businesses.

What will you be doing?

    Driving forward the risk agenda to help business areas identify, assess, respond to and monitor financial risks, through a process of communication, explanation and evaluation, to ensure that financial risk exposures are contained within the overall divisional and business risk appetite.Work closely with the capital planning team to ensure that risk-based capital assessment methodologies remain reflective of prevailing best practice approaches, are fully compliant with regulatory requirements.To continually develop and oversee the implementation of the agreed risk strategy and framework on behalf of the Risk Committee.Lead our validation activity across all risk types, taking responsibility for the development of the validation policy, framework and plan in line with the Solvency II Directive, Level 2 implementing measures and other relevant guidance, supported by other members of the financial risk team.To review and challenge the business decision making and risk management.To lead the quarterly and annual ORSA process and manage reporting to Risk Capital & Solvency Committee and Risk Committee.To be responsible for horizon scanning in relation to financial risks, ensuring that Unum meet current regulatory requirements and developments in the external market are identified and monitored.Ensure the provision of quality risk management reporting that challenges the deployment of the Risk Management Framework, by ensuring that business areas provide sufficient results, data and other information to enable the performance of the role.Embed and contribute to the Conduct Risk Framework, wider Solvency II systems of governance principles, Treating Customers Fairly requirements and the Risk Management Framework as it applies to the role and divisional activities and drive improvements as required. Identify, recommend and implement changes to improve the Risk & Capital Operating Model as it relates to the Internal Model.To ensure Risk Management activities are aligned with the requirements of the Individual Capital Adequacy ("ICA") methodology, designing and leading risk workshops, ensuring the process is rigorous and the outputs are robustTo manage the Risk Management function ensuring effective and efficient delivery of all objectives and targets within budget; as well as developing strong relationships with key business area senior managers and leaders, in particular with Actuarial, Finance and US Investment.As a Certificated Persons role, the job holder is required to act in accordance with the FCA/PRA Conduct Rules and relevant sections of the Regulatory Handbooks.
What will you bring?

    Extensive knowledge of the management of risk within UK Financial Services with relevant experience in a similar role. Experience gained from holding a leadership position.Significant insurance industry background, with an understanding of the regulatory environment in which we operates, particularly in relation to risk managementStrong corporate governance and risk management experience.Relevant Actuarial qualifications and a risk management qualification is desirable (e.g. IRM).Broad knowledge of the UK Insurance industry including the processes and risks involved.Strong Knowledge of relevant legislation, definitions and terminology. In particular excellent understanding of regulatory context for operation of risk management, including FCA Handbook and frameworks such as Basel 3 /Solvency II.Excellent communication and interpersonal skills, with the ability to liaise at all levels, ensuring excellent levels of verbal and written communication including the confidence and tenacity to challenge the business.
Why join us?

Our culture!

We aim to be the most inclusive, diverse and socially responsible company in the employee benefits market. With an agile and flexible way of working, we want to be a place where people aspire to work and where everyone can be themselves.

What will you get in return?

We are passionate about our employee health and wellbeing and providing work-life balance that suits you.

Our benefits include a discretionary bonus, 24/7 health support services (including a remote GP), income protection, health cash plan, 27 days annual leave, opportunity to participate in charitable events and more.

However you see your future career, we'll support and challenge you to be your best with a wealth of learning and development opportunities.

If you need assistance and/or reasonable accommodation due to a disability during the application or the recruiting process, please contact us.

Company: Unum UK

Job Posting End Date: 10/29


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