Chief Risk Officer, UK Life (Part-Time, Job-Share, Full-Time) Part Time

Swindon, Wiltshire
Zurich Australian Insurance Ltd.

Location: Swindon

Closing date for applications: 24th October

At Zurich Insurance Group, we are more than just a leading multi-line insurer. We are a community of passionate professionals dedicated to making a meaningful impact on the world. With a rich history dating back to 1872, Zurich has grown to serve customers in over 210 countries and territories. Our culture is built on a foundation of diversity, inclusion, and a relentless pursuit of excellence.

We are seeking a dynamic and strategic leader for the position of Chief Risk Officer (CRO) for our Life insurance business in the UK. This pivotal role supports the Life CEO and Board in facilitating the appropriate management of risks within ZAL and is responsible for the adoption of Group Risk Management processes and methodologies.

What will you be doing:

1. Design, develop and oversee the implementation of the risk strategy, appetite and policy that meet regulatory requirements.
2. Understand the commercial drivers of the business and have the capability to critically evaluate and challenge business strategies and plan delivery.
3. Maintain appropriate risk framework and risk culture to meet the risk strategy, appetite and policy requirements of the ZAL Board, in alignment with UK and Zurich Risk Policy.
4. Oversee the performance of the ORSA (‘Own Risk and Solvency Assessment’) and review the appropriateness of the minimum capital requirement being held.
5. Responsible for the design and validation of models used in support of the risk framework and the monitoring of capital, including internal models as defined by Solvency II.
6. Oversee implementation of and adherence to the risk strategy, appetite metrics, policy requirements and processes set by the ZAL Board including prudential risk elements.
7. Undertake risk assessments of, and provide risk opinions on, operational and strategic plans, and material changes to ZAL’s risk profile including risk oversight of ZAL’s outsourced activities.
8. Oversee the design and operational effectiveness of ZAL’s risk systems and controls so as to maintain a strong internal control environment.
9. Lead ZAL engagement with the Prudential Regulation Authority (PRA) alongside the UK CRO.
10. Provide oversight to operational resilience planning activities, ensuring that it is supported by appropriate and proportionate systems, resources and procedures from a risk perspective.

What are we looking for?

1. You will either have extensive understanding of and exposure to the UK Business, market and regulatory environment or be a CRO in a large, complex business within a heavily regulated market with Life Insurance experience.
2. Risk Management, Quantitative Risk and Controls expertise.
3. Excellent communicator with ability to gain trust, credibility and influence with a wide range of stakeholders including Executive Committee, Group, Boards and Regulators.
4. Possess the ability to skillfully navigate the dual role of a pragmatic business partner while independently questioning decisions when necessary.
5. A dynamic, proactive individual who will have a strong voice, able to bring constructive challenge alongside the CEO and Board in leading the ZAL business.
6. Experience with managing the PRA relationship preferred; SMF4 or similar experience essential.
7. Be a role-model leader with a demonstrated ability to build, develop, and engage high-performing, inclusive teams within a matrix organization.

SMFs

This role is a Senior Management Function (SMF) role under the Senior Managers and Certification Regime (SM&CR), which is subject to regulatory approval. The successful candidate will be offered the position subject to the successful completion of Regulatory Reference requirements.

Many of our employees work flexibly in a variety of different ways, including part-time, flexible hours, job share, an element of working from home or compressed hours. Please talk to us at interview about the flexibility you may need.

Who we are:

At Zurich we aspire to be one of the most responsible and impactful businesses in the world and the best global insurer. Together we’re creating a brighter future for our customers, our people and our planet.

If you’re interested in working in a dynamic and challenging environment for a company that recognises and rewards your creativity, initiatives and contributions – then Zurich could be just the place for you. Be part of something great.

Our Culture:

At Zurich, our sense of community is strong and we’re particularly passionate about diversity and inclusion. We want our employees to reflect the diversity of our customers, and so are committed to treating all of our applicants fairly and with respect.

We’re passionate about supporting employees to help others by getting involved in volunteering, charitable and community activity. Our charitable arm, Zurich Community Trust, is one of the longest-established corporate trusts in the UK.

So make a difference. Be challenged. Be inspired. Be supported, Love what you do. Work for us.