Hartford Steam Boiler Inspection and Insurance Co.

Risk & Control Analyst

Company

HSB

Location

Manchester , United Kingdom

Role: Risk and Control Analyst

Location: Manchester

Hybrid working - 2 days per week in the office

Brand: HSB

Job Purpose:

Reporting directly to the HSBEIL Risk Manager, this is a second line of defence role which performs Risk Management activities for HSB EIL and non-insurer subsidiaries.

The successful candidate will play a key role in the delivery of the activities of the Risk Function, including providing assurance over first line of defence activity. Strive to continually improve the delivery of risk management with the aim to develop the organisation’s risk culture.

Key Responsibilities:

• With a focus on non-financial risks, work with internal stakeholders to promote an environment where risk is consider in all aspects of business decision-making. This includes monitoring risks and controls, key risk indicators, risk event reporting and providing second line challenge on root cause and remediation on risk events and near misses.

• Take the lead in identifying trends and themes from risk events.

• Coordinate the annual (and ad-hoc where necessary) performance of risk and control self-assessments for the Operational Risk and Control System.

• Provide second challenge to the business via ORCS to business units, with the focus on risk assessment development and implementation of risk controls. Work with the CRO and Risk Manager for input into second line challenge.

• Taking a leading role in ensuring monitoring and review activity is being performed within the first and second lines of defence in order to implement all elements of ORCS.

• Through the identification of control weaknesses in ORCS and/or risk events, work with the Risk Assurance Analyst to perform control testing on risk controls within the business to inform second line challenge.

• Produce annual reporting for ORCS for submission to the Board Risk Committee, formulating a second line opinion on the first line result for review by the Risk Manager / CRO. Provide additional ORCS reporting at the request of wider Munich Re stakeholders.

• Coordinate the preparation of the Quarterly Internal Risk Report by seeking contributions from the first line, Risk Manager and Compliance.

• Provide risk support to the non-insurer subsidiaries.

• Support the monitoring of regulatory developments as they relate to risk and work with the Risk Manager to assess their impact to the Company;

• Coordinate the preparation of the quarterly Board Risk Committee meeting material in a timely manner, offering administrative support.

• Coordinate and participate in the quarterly Compliance and Risk Group meetings, specifically providing reporting on risk events and status of assurance findings.

• Work with the Risk Management stakeholders from within the wider Munich Re group, ensuring alignment to global processes and maintaining lines of communications. Be the key representative for HSBEIL on ORCS;

• Provide Risk Management input to business initiatives, projects and to other committees and act will full accountability as the risk management representative; and

• Other activities as directed by members of the Risk team.

Key Skills and Experience

Essential

• Strong analytical and numerical skills

• Ability to manage multi location stakeholders

• Strong skills in planning, organising and prioritisation

• Skilled in both Excel and PowerPoint

Desirable

• Knowledge of risk management methodologies including operational risk identification and assessment

• Experience working at a regulated financial services firm

• Understanding of UK regulatory requirements.

Qualifications and Educational Requirements:

• Degree-level preferred

• A-levels essential.

Personal Attributes:

• Resilient and determined to deliver professional results

• Strong communicator, facilitator and presenter

• Collaborative

• Self-motivated

• Confident