Risk Analyst

Main purpose of the role:

• Key role in enabling the development and implementation of Asta’s risk management framework and underlying processes for clients, and within Asta.

• Responsibility for allocated clients, which may be Syndicates, SIABs or MGAs

• Focused on managed clients and AstaPoint risk system improvement and maintenance.

• Collect and examine data, drawing out trends, exceptions and risks.

• Produce draft reporting.

• Develop understanding in allocated specific risks

Key responsibilities:

1) Risk management framework:

• Support the Head of Risk and Enterprise Risk Manager in maintaining and enhancing any allocated sections of the risk framework including underlying processes.
• Development, maintenance, and enhancement of the risk framework, and underlying processes, for clients and within Asta.

2) Risk identification:

• Assist the identification of risks across Asta and for clients allocated to them.
• Documents the risks across Asta and in their allocated clients in the AstaPoint software.
• Assists in running risk workshops to identify risks across Asta and in allocated clients.
• Prepare emerging risk analysis for allocated risks as required, drawing on external sources as appropriate.

3) Risk reporting:

• Preparing elements of Asta level and client reporting as requested by the Enterprise Risk Manager or Head of Risk for their respective clients.
• Developing and preparing risk reports based on AstaPoint data and enabling improvements in the system and underlying data quality, where required.

4) Risk monitoring:

• Maintain and improve risk register records in AstaPoint for allocated clients and provide for specific allocated risks.
• Conduct ad-hoc reviews as required for allocated clients and risks.

5) Risk appetite, KRIs and risk events:

• Develop and enhance process for the update and maintenance of regular risk appetite, KRI and risk event reporting.
• Play a key role in risk appetite development, KRI measurement and risk event reporting across for clients, and across Asta.
• Assist in documentation and investigation of risk events as directed by the Enterprise Risk Manager or Head of Risk, for their respective clients.

6) ORSA:

• Draft ORSA sections as required for allocated clients, or those of the Enterprise Risk Manager or Head of Risk.
• Consider ORSA implications for clients.
• Support the project management of the ORSA process across Asta.

7) Validation:

• Complete validation work as allocated by the Enterprise Risk Manager or Head of Risk
• Stress & scenario testing:
• Complete stress and scenario testing for allocated clients as directed by the Enterprise Risk Manager or Head of Risk.
• Document stress and scenario testing workshops.

Key personal skills required:

1. Communication: Excellent interpersonal and written skills that enable the job holder to build trust with senior members of Asta and the managed syndicates, and persuade them of the business benefits of an embedded enterprise-wide risk management culture
2. Credibility: Possess an enthusiasm for risk management that persuades others of its value. Potential to become assured and able to deal at senior levels within Asta and the managed SIAB’s to influence business leaders.
3. Integrity: The ability to make a principled stand where required.
4. Flexibility: The ability to retain a sense of perspective and recognise the occasional collision between “real world” situations and reality.
5. Personality: The ability to work both unsupervised and within a wider team.

Key technical skills, knowledge and professional qualifications required:

1. Knowledge of the insurance market and risk with understanding of the activities of a Lloyd’s syndicate
2. A keen interest in risk management and control concepts, and related change and transformation aspects.
3. Knowledge of Solvency II, awareness of regulatory requirements and how they impact on the business is desirable.
4. Experience of MS Office (Word Excel, PowerPoint) to an intermediate level desirable.
5. Experience of the AstaPoint (Decision Focus) risk management system is desirable.

This job profile gives only outline duties. However, in an organisation such as ours, it is inevitable that tasks may arise which do not fall within the list of key tasks. Individuals are therefore required to be flexible in their approach and attitude when tasks arise which are not specifically covered in their job profile. Should an additional responsibility become a regular part of the job, the individual should agree a new job profile with their manager.