Financial Risk Manager

Job Description:

Financial Risk Manager

Location: London, Manchester or Staines

Type: Permanent

Hours: Full Time, 37.5 Hours per week

Salary: £63,500 - £80,000 (dependant on location and experience) + Excellent Benefits

Overview

The Financial Risk Manager is a 2nd Line of Defence role reporting to and directly supporting the Director of Financial Risk through the provision of leadership and direction to the Insurance Enterprise Risk Management Team comprising the UK Regulated Entities team and the 2LOD staff operating under the Bupa Global Trading name. In addition, the Financial Risk team support the CRO to deliver their Prescribed Responsibility for the performance of the firm's Own Risk and Solvency Assessment (ORSA).

The Financial Risk Manager role is responsible for leading work to implement the appropriate risk framework for identification, reporting and escalation of risk to the appropriate Finance and Actuarial Executive teams and specialist for a, so that teams operate within their delegated risk appetite. Within this framework, the Financial Risk Manager will lead the oversight and challenge of financial and/or insurance risk management in scope of the role, across areas in co-ordination with the Head of Financial Risk and work closely with Market Unit Finance partners in 1LOD and 2LOD to achieve the desired risk outcomes for a holistic view of the financial risk and control environment

What you'll do:

• Provide advice and guidance on risk management to foster high achieving, well controlled Finance and Actuarial functions
• Develop and promote financial and/or insurance elements of the Risk Management Framework (RMF) including risk appetites, emerging risks and incident capture and analysis
• Support Finance and Actuarial teams in consistently applying the RMF to identify, assess, manage, monitor and report all material risks using appropriate tools (e.g. risk registers) and key performance and/or risk indicators and thresholds
• Perform validation of the quantitative components of the ORSA report (e.g. Pillar 1 SCR, Pillar II Economic Capital calculations, Operational Risk Quantification, Own Funds and the results of scenario testing)
• Through ownership of the relationships with 1LOD and facilitation, support the Director of Financial Risk in the delivery of risk management tasks such as ICRMA, Risk Outcomes, top and emerging risks
• Technical support to appropriate Committees

What you'll bring:

• A qualified actuary
• Experience of managing financial and insurance risk (1st, 2nd or 3rd line) in an insurance business
• Regulatory framework, requirements and expectations
• Market knowledge and Bupa’s business model
• Risk management and control
• Governance, oversight and controls
• Functional knowledge of risk, control and regulation including Solvency II 
• Ability to analyse and manage complex information to identify the key issue/action and drive resolution
• Strong ability to proactively assess and analyse relevant risks and oversee effective risk mitigation plans
• Proven track record in applying good judgement based on business information and assessment frameworks in order to determine the degree of business and regulatory risk posed by actions and issues within the business
• Experience of compliance & regulatory activities

Benefits

Our benefits are designed to support your health and wellbeing. Viva, our global wellbeing programme, covers all aspects of health – from mental and physical to financial, social, and environmental wellbeing. We support flexible working and offer a range of family-friendly benefits.

• 25 days holiday, increasing with length of service, with the option to buy or sell.
• Bupa health insurance as a benefit in kind.
• An enhanced pension plan and life insurance.
• Onsite gyms or local discounts where no onsite gym is available.
• Various other benefits and online discounts.

Why Bupa

We’re a health insurer and provider. With no shareholders, our customers are our focus. Our people are all driven by the same purpose – helping people live longer, healthier, happier lives and making a better world. We make health happen by being brave, caring and responsible in everything we do.

We encourage all of our people to “Be you at Bupa”, we champion diversity, and we understand the importance of our people representing the communities and customers we serve. That’s why we especially encourage applications from people with diverse backgrounds and experiences.

As a Disability Confident employer, we offer a guaranteed interview for every disabled applicant who meets the minimum criteria for the job. We’ll make sure you are treated fairly and offer reasonable adjustments as part of our recruitment process to anyone that needs them.

Time Type:

Full time

Job Area:

Finance & Accounting

Locations:

Angel Court, London, Bupa Place, Staines - Willow House