Risk Manager, ERM

Leads preparation the Validation Report to PRA and Lloyd's requirements and other documents that may be required, including the Validation Policy and Validation Standards and supporting documentation. Assists with monitoring compliance of validation processes in line with regulatory requirements reporting to the Model Oversight Committee, Business Risk Committee and Board Committees. Is a relationship manager for the business units ('BU'), through ad hoc and regular Risk and Control Self-Assessment ('RCSA') meetings, to ensure full and consistent understanding of risk assessments, and to communicate the expectations Risk and Control Owners need to meet. Ensures there is strong collaboration across other lines of risk management. Works with business owners to identify and assess the internal control environment leading the reporting of risk events and challenging business actions to remediate deficiencies; and reports findings, recommendations and updates to the Boards and Committees. Reviews and challenges quarterly risk assessments and risk exposure reports, using experience and external benchmarking. Escalates priority items, unresolved or unexplainable issues to the CRO and Risk Owners. Collaborates with BU to identify and mitigate emerging risks often through working on transformation / strategic projects as the ERM subject matter expert. Collates and aggregates financial and non-financial risk exposure data, preparing risk reports for Boards and Committees e.g., risk appetite performance and risk register summaries. Assists with the oversight of remediation activities as they progress and/or complete. Develops and maintains ERM documentation (frameworks, policies and process definitions) and updates/produces risk reports owned by the Boards e.g., ORSA, Risk Book (aka ORSA Record), climate MI and others. Assists with the design and implementation of stress tests to be carried out on risk types modelled in the TRVE Capital Models in order to provide sufficient objective review and challenge on the functioning of the model and accuracy and appropriateness of its outputs for all model uses. In partnership with model parameter owners, assist with the design and implementation of appropriate tests to provide. objective review and challenge of model inputs and the expert judgement involved in preparing those inputs. Assists with carrying out any specific validation tests, deep dives and thematic reviews required by regulations and guidance from the CBI, PRA and Lloyd's. Assists with communicating the outcomes of all tests carried out to Model Oversight Committee, the ERC and the Boards; assists with communicating the impact and consequences of any failed tests and working with stakeholders to develop timescales and priorities for resolution. Perform other duties as assigned. This is an individual contributor role. This role works on financial and non-financial risk projects to efficiently meet risk requirements from Lloyd's, the Bank of England, PRA, Financial Conduct Authority, Bermuda Monetary Authority and Central Bank of Ireland and others (e.g., Travelers US Group and AM Best). Responsible for assisting the Boards and CRO with regulatory thematic reviews. Outputs will be reviewed and inform senior management and legal entity Boards. Individuals are expected to have working knowledge of statistical concepts and can perform model runs and testing under supervision. Independently prepares risk documentation and analysis for senior and external. Expected to attend business unit meetings and act as ERM relationship manager in completing business requests. Access to commercially sensitive information including future plans, regulatory disclosures and risk event data. Project management - experience of working with functional management and building good relationships required, including the ability to manage and make significant contributions to risk projects and report/present to stakeholders using Microsoft tools. Bachelor (BSc) or Master (MSc) of science degree or higher in financial risk management. Studying towards, or holds, Casualty Actuarial Society (FCAS), Fellow of the Institute and Faculty of Actuaries (FIA), Chartered Financial Analyst (CFA), Financial Risk Manager (FRM) or similar. Insurance - Chartered Insurance Institute (CII), Lloyd's Market Associations (LMA) or others that are similar. Risk Management - Institute of Risk Management (IRM) or Federation of European Risk Management Associations (FERMA) or others that are similar. Employment Practices Travelers is an equal opportunity employer. We value the unique abilities and talents each individual brings to our organization and recognize that we benefit in numerous ways from our differences.If you are a candidate and have specific questions regarding the physical requirements of this role, please send us an email so we may assist you.Travelers reserves the right to fill this position at a level above or below the level included in this posting.To learn more about our comprehensive benefit programs please visit .