This position is within Chubb’s Risk Management Function. Risk Management at Chubb is viewed as critical to the success of the organisation by supporting and challenging the first line risk management activities. 

The role holder will support the Risk Management Function to promote and embed the Chubb Risk Management Framework (RMF) across all the business segments and functional units within Chubb EMEA by enhancing risk management activities in support of Chubb Limited’s corporate objectives. 

The business segments include Property & Casualty, Accident & Health (Corporate) UK, Ireland & South Africa (UKISA) and Continental Europe (CE); EMEA Consumer Lines (Accident & Health Partnerships and Specialty Personal Lines), Chubb Global Markets, Chubb Tempest Re, Chubb Bermuda International, Combined Insurance and Chubb Life EMEA.

The Senior Risk Analyst will report into the Head of  Risk, Continental Europe and is supported by a pool of resources based in London and within Chubb Business Services India (CBSI) based in Bangalore, India.

 The role is based in London  and will cover all branches within the EMEA region and so may require some travel.

Key Responsibilities

Risk Management

 

Coordination of business units and functional engagement – engaging with the business and functions in supporting the strategies employed to embed a culture of strong risk management, risk identification, assessment, evaluation and reporting, loss event reporting and promoting best practices. Support strategic & annual business plan analysis – work with relevant managers to perform strategic and annual business plan analysis including the development of relevant scenario analysis to identify key risks to the plan, it’s impact on the risk profile and Chubb’s overall corporate objectives. Performance of risk analysis, independent risk assessments – lead/support the performance of specific risk assessments as identified within the plan or via the risk management process.  This will include the performance of scenario analysis as applicable. Support the maintenance of the Risk Management Framework across all legal entities and the maintenance of relevant risk management documentation, risk policies and preparation of ad-hoc risk reports as required. Support the enhancement of second line of defence risk oversight and challenge with a sufficiently granular understanding of the material risks posed in the various business and functional units and any key projects risks in order to be able to effectively identify threats and opportunities and to escalate relevant issues as appropriate. Supporting various capital assessments initiatives for relevant legal entities and assist in the oversight of the completion of stress and scenario analyses (including reverse stress tests) for capital adequacy assessments. Oversee relevant risk management activities performed by Chubb Business Services and assist with other risk management projects as they arise.

Chubb Life

Oversee the embedment of the Risk Management Framework including the identification, monitoring, and reporting. Deliver further enhancements to the risk appetite framework e.g. the development of risk-based metrics and assist senior management in understanding and controlling the risks to the business and reporting same to relevant Committees/Board. Promote and support the embedding of processes to identify, assess and monitor emerging risks and the stress and scenario analysis framework in respect of the strategic and annual business plans. Lead the performance of deep dives into specific risks and their impact to enable appropriate risk assessment and identification of suitable mitigating activities. Contribute to the Own Risk and Solvency Assessment (ORSA) processes and provide the quarterly/annual ORSA reports.  Technical competence, productivity and teamwork An understanding of both non-life and life insurance products, services and associated regulatory regimes. Ability to collate/review quantitative data and carry out quantitative analysis including the interpretation/impact assessments of key risk indicators and/or metrics. Strong organisation and analytical skills with demonstrable evidence of excellent communication skills. Ability to understand risks, issues and impacts and manage these across a diverse series of products and locations concurrently. Ability to work collaboratively and flexibility to lead/support various deliverables whilst managing own deliverables. Utilises the Chubb’s Competence Model to develop skills, abilities and behaviours that support outstanding performance and meet professional/regulatory expectations. Complies with the Chubb Europe fit and proper policy, maintain own professional skills with CPD and be a role model for all staff. Others – internal & external liaison  Working with Chubb Limited ERM team on development of Global Risk Management practices. Work closely with various units and business segments within Chubb in which risks arise for contribution to the required legal entity risk management framework and capital assessment process. Provide accurate and topical commentary for various risk reports including the preparation of materials for regulatory monitoring purposes. Keeping abreast of regulatory developments within EIOPA, PRA, FCA, Lloyd’s, ACPR, NAIC, FINMA, BMA, IAIS and other local regulatory expectations or special interests’ groups Systems

Ensure Risk Management systems are relevant, fit for purposes, properly maintained and supported.

General 

To work within the framework ethical and service standards of Chubb Limited

Qualifications:

Relevant actuarial, finance or risk management professional qualification is desirable. English (Proficient). Basic knowledge of French and/or any other European language is desirable. Insurance (life & non-life) industry experience with knowledge of Capital/Risk processes relating to Solvency II including knowledge of insurance company processes and systems. Financial modelling skills and proficient in the use of MS Office – Word, Excel, PowerPoint. Relevant experience demonstrating risk management knowledge and engagement with stakeholders . Proven organisational skills, reflecting an ability to prioritise and take ownership Demonstrable knowledge of risk management/GRC systems Excellent report writing and communication skills Degree level or equivalent.