JOB SPECIFICATION
Job Role: Risk Analyst
Reports to: UK Head of Risk
Salary range: On application
Benefits: Competitive benefits package to include 25 days holiday, Non-contributory Group Personal Pension Plan, Discretionary bonus scheme, Private Health Insurance, Permanent health insurance, Interest free season ticket loan, Non-contributory study support scheme, Cycle to work scheme, Gym subsidy and more.
Company background
Newline Group is a market leading specialty insurance group that operates through two underwriting platforms: Newline Syndicate 1218 at Lloyd’s and Newline Insurance Company Limited.
From its headquarters in London, offices in Leeds, Germany, Singapore, Melbourne, Malaysia and presence at Lloyd’s China in Shanghai, Newline underwrites international casualty and cargo business in more than 80 countries around the world. Its suite of products, which are available on a direct and facultative basis, include:
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Newline Group is part of Odyssey Re Holdings Corp., whose companies are collectively known as OdysseyRe. With total assets of $10.2 billion and nearly $4 billion in shareholders’ equity as of December 31, 2016, OdysseyRe is one of the world’s leading providers of reinsurance and specialty insurance. With a network of more than 35 offices in 13 countries, OdysseyRe is a global enterprise committed to providing local service. OdysseyRe is wholly-owned by Fairfax Financial Holdings Limited.
Overview of the Department
The risk management team is part of the Actuarial and Risk Department managed by Newline’s Chief Risk Officer/Chief Actuary. The team is responsible for the design, implementation and operation of the risk management framework for the Odyssey Re London Market Division, which includes Newline Companies. Key responsibilities include managing the quarterly risk and control self-assessment process, co-ordinating and reporting the Own Risk and Solvency Assessment (ORSA) process and overseeing Lloyd’s exposure management reporting requirements.
Purpose of role
- To support the UK Head of Risk in carrying out the responsibilities of the risk management team across all the team’s activities.
Main areas of responsibility
- To support the quarterly risk and control self-assessment process, including:
- Maintaining and updating business risk registers, which are recorded and managed using Magique risk management software;
- Co-ordinating the quarterly assessment process across the business, including review and monitoring of Key Risk Indicators;
- Accurate and timely reporting of data;
- Maintaining the Magique system, and acting as point of contact for business users.
- To contribute to the ongoing development of Newline’s exposure management framework, including the improvement of data collection and data analysis. This will involve working with the underwriting teams.
- To support the Lloyd’s Realistic Disaster Scenario exercises, including co-ordination of the data gathering process, collation of results and reporting to Lloyd’s.
- To support the annual review of risks, controls and Key Risk Indicators in line with business strategy.
- To support the incident reporting process.
- To contribute towards Newline’s wider stress testing framework, including scenario development and analysis.
- To support the quarterly/annual risk management and ORSA reporting processes.
- To assist with the organisation and production of papers for the internal management groups, risk management group and the Board Risk Management Committee.
- To support continuous improvement of the risk management framework, including improvements to reporting and development of Magique functionality.
- To support risk management training and the embedding of risk culture throughout the business.
Core attributes
- A team player who is able to work in a co-operative environment, and engages effectively with others;
- Is highly self-motivated with the ability to work independently;
- Produces consistently high standard of results with strong attention to detail;
- Has strong organisational and time management skills;
- Flexible in adjusting priorities and agility in delivering performance;
- Communicates well both verbally and written;
- Willingness to learn, develop and take on responsibilities within an active risk management team.
Technical expertise
- Understanding of risk management/exposure management principles and application.
- Intermediate to advanced IT skills, including MS Office suite.
- Good analytical and data management skills.
- Experience of R and data visualisation tools, e.g. Tableau, is desirable but not a requirement.
Education and experience
- 2: 1 or higher degree with strong numeracy emphasis.