This role affords the opportunity to work directly within the business to act as a Risk Management steward for coordinating all key Enterprise Risk Management (ERM) activities that require completion by management within the 1st Line. The role will require daily interaction with the Business Unit / Corporate Function’s Senior Management (CRB Leadership) to identify, assess, manage and monitor the risk profile. You will interact with the Enterprise Risk Function as required to understand the direction expected of the 1st Line, in relation to risk management framework, practices and challenge of managements. Risk Profile and/or to seek Subject Matter Experts (SME) input. The role will report into business management with a matrix reporting line into UK Risk Director.
+ ERM Framework: Support the implementation of the ERM Framework and supporting policies and procedures. Monitor the 1st Line adherence to the ERM Framework and policies and escalate to Senior Management any areas of non-compliance.
+ Risk Appetite: Develop and monitor business level risk appetite measures in managing risks in accordance with the company risk appetite statement, as communicated by the ERM team.
+ Governance: Attend local Management meetings as required. Report risks and the Senior management of these risks to the management.
+ Risk and Control Assessments: Own and facilitate the quarterly Risk and Control Assessments (RACA’s) by engaging with the relevant stakeholders, gathering data and completing the RACA templates. Challenge the risk identification and assessment conducted by the 1st Line Risk & Control Owners. Analyse risks and report to the management. Support Management in determining the appropriate management actions for each risk and support the implementation of these accordingly. Monitor the risk and control environment overall to identify and report key challenges and trends
+ Risk Events: Support the implementation of the Risk Event process in the business. Work with key stakeholders to track, monitor, and report and analyse the operational risk events until their resolution and closure. Conduct root cause analysis to identify the source of control failures.
+ Issues and Actions: Support Management in determining whether an issue and action is required. Work with Management to establish realistic timeframes for implementation of the agreed actions. Review the appropriateness and success of actions implemented. Escalate actions that have not been successful or completely implemented
+ Capital Adequacy Assessment: Support the TC2.4 process, where relevant, by gathering data, attending workshops, populating the relevant templates and documenting the results. Support the completion of stress and scenario testing exercises (outside of TC2.4) as and when required
+ New Products/Projects: Support the implementation of the New Product and Proposition process and ensure relevant new products and propositions are notified to the ERM Function, risks are assessed, and reviewed by the appropriate governance bodies
+ Emerging Risks: Contribute in the identification, assessment and monitoring of key horizon risks and their reporting to management
+ Training: Deliver risk management training across the business. Ensure colleagues have an adequate understanding of risk management framework and processes as appropriate to their responsibilities.
+ Reporting: Produce management risk reports and analysis of RACA, risk events etc. Provide effective MI for the Business Governance Forums and subsequently the 2nd Line. Liaise with 2nd Line as they challenge the risk profile / actions proposed by management.
+ Governance, Risk and Compliance (GRC): Support the rollout and training of the GRC tool.
+ Projects, Changes & Thematic Risk Assessment: Participate in conducting Risk and Control Assessment on major strategic projects, changes and/or developments, and thematic risk assessments
+ ERM Meetings: Attend ERM meetings to support risk management activity, provide feedback on Risk Management Framework embeddedness, and sharing knowledge and experience of management views on the effectiveness of Risk tools/ procedures.
+ Culture: Promote a positive risk management culture and support 1st Line training where required
+ Educated to Degree level or equivalent.
+ Strong regulatory and corporate governance knowledge/understanding.
+ Professional experience within an insurance broking or insurance environment or within a highly regulated business environment would be desirable but not essential
+ Proactive and a self-starter
+ Excellent interpersonal skills
+ Ability to work, both individually and as a team, under pressure to tight timelines and without direct supervision.
+ Organised and methodical.
+ Excellent analytical problem-solving skills.
+ Strong communication skills, both orally and in writing.
+ Commitment to continuous professional development and maintaining excellent understanding of regulatory developments.
+ Must be committed to maintaining a robust compliance culture and high ethical standards.
+ Fluent business English essential.
+ IT literate – knowledge of Microsoft office packages needed.
Equal Opportunity Employer
Willis Towers Watson believes that effectively managing a diverse workforce is vital to our business strategy. We have an obligation to our organization, ourselves and our clients to hire and develop the best people we can find. We will continually review our policies and practices to ensure that all areas of the employment process (including recruiting, hiring, work assignments, compensation, benefits, promotions, transfers, company-sponsored development programs and overall workplace experience) are free from discriminatory practices. We are committed to equal employment opportunities at Willis Towers Watson.