Head of Risk (Chief Risk Officer)

Ireland
Permanent
Full-time

8 days ago

Permanent Ref No: 1617118 Qualification: QualifiedWhat Is the Opportunity?This role monitors all risk types to ensure sound and responsible business practices, high ethical standards and the integrity of products and services delivered to customers. The role is required to provide assertive challenge and ensure that significant, or potentially significant risk issues are promptly and appropriately reported to senior management and relevant governance forums. This role is a Pre-Approval Controlled Function (PCF-14) within the Senior Executive Accountability Regime (SEAR) as set out in the Individual Accountability Framework (IAF) Act 2023 and in accordance with the rules and regulations of the regulators.What Will You Do?

Holds overall responsibility for the Enterprise Risk Management Function (PCF-14) to meet the needs of the business, regulators, rating agencies and policyholders.
Membership of the Board Risk Committee, Management Committee, Deputy Chair of the European Risk Committee and other forums as instructed to lead development of the risk management framework.
Own and maintain the ORSA, Recovery Plan, Risk Book and other important risk documentation ensuring it meets requirements. Facilitate completion of thematic risk reviews as required in response to regulators and supervisors.
Proactively identify, manage and mitigate principal risks and ensure risk events are escalated and reported in line with requirements in the Risk Management Framework.
Gain support for risk management, through collaboration, sponsorship and challenge to ensure that risk tolerance/appetite is consistent with the Board's risk strategy and that this is cascaded to and business unit level. Monitor and report performance of the business against risk appetite.
Maintain current knowledge of regulatory requirements on all risk issues (financial and non-financial), advise the business on the effects of implementation and offer recommendations on optimising the business response.
Manage the Own Risk Solvency Assessment (ORSA) process
Manage capital analysis of Operational risk in conjunction with the Capital Management Team. Assist in development of risk modelling, validation techniques and inputs
Review and Challenge root cause analysis of risk events to ensure remedial action is appropriate, implemented in a timely manner, and prevents recurrence where possible
Work with other assurance functions to develop effective and efficient oversight activities across the 3 lines of risk management model, whilst maintaining independence

What Will Our Ideal Candidate Have?

Thorough knowledge of risk management methods (financial and non-financial) and best practices in Ireland.
Advanced knowledge of general regulatory requirements as they relate to business lines supported.
Intermediate knowledge of corporate structure, as well as a particular business units products and procedures.
Advanced ability to concisely present complex regulatory issues. Advanced ability to understand, synthesize and convey complex data. Advanced verbal and written communication skills.
Advanced ability to negotiate skilfully and successfully.

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