Chief Risk Officer (Luxembourg)

About the role

The Chief Risk Officer (CRO) is the principal person responsible for a holistic, integrated, forward-looking approach to managing all key business risks from a second line of defence perspective, for the Monument entities in Luxembourg and their branches (the “Company”). The CRO facilitates the execution of Enterprise Risk Management processes and infrastructure as a key enabler to achieving the business objectives of the organization.

The CRO will partner with the CEO and the executive management team to provide effective leadership and guidance with overall responsibility for the Company’s Risk Management Framework, ensuring effective processes are in place to meet the requirements of the Board(s) and regulators.

The CRO will also support the Group CRO to deliver appropriate second line financial risk management across Luxembourg entities and their branches. The role will involve occasional business travel, principally within Europe. Considering the size of the Company and the team, this role is also a unique opportunity to be both strategic and hands-on. 

The Chief Risk Officer reports directly to the Monument Assurance Luxembourg Chief Executive Officer. The CRO also has an indirect reporting line to the Monument Re Group Chief Risk Officer. 


  • Actively review and challenge in a second line capacity in relation to corporate transactions including acquisitions, and other material activities in the Company, seeking to deliver a better overall outcome for the Company by either reducing the level of risk overall or improving the reward for certain assumed risks.
  • Lead the Own Risk and Solvency Assessment (“ORSA”) process for the Company, ensuring that the process is effective and that all reporting is produced on time and to standard, including any ad hoc ORSAs over the course of the year. Lead the interaction with the Board throughout the ORSA process and present ORSA outputs to the Board for approval and ensure ORSA filings to the CAA are made on time and to standard. 
  • Maintain the risk appetite statement, tolerances and limits of the Company in conjunction with management committee and present at least annually to the Board for approval. 
  • Maintain, enhance and facilitate the risk reporting framework through the Risk and Control Self-Assessment (RCSA).
  • Assess processes and systems for commenting on the overall risk environment, addressing mitigating actions for risks identified, identifying any emerging risks, discussing relevant current issues as well as reporting on risk metrics that monitor risk exposures and agreed tolerances.
  • Maintain robust risk policies for the Company and ensure these are reviewed at least annually and presented on a timely basis to the Board for approval.
  • Provide risk function input into Annual Financial Statements, SFCR and all other reporting requirements.
  • Ensure appropriate risk forums are in place and operate effectively.
  • Ensure an annual Risk Plan is in place, consistent with Group requirements.
  • Ensure that risk management is delivered that meets Group and local risk requirements.
  • Provide support to Group CRO to deliver appropriate second line financial risk management across Luxembourg entities including branches. 
  • Carry out duties with integrity and diligence, ensuring that professional standards are maintained, that all corporate requirements and reporting deadlines are met, that records are maintained, and that processes and controls are fit for purpose and meet internal and regulatory requirements.
  • Keep abreast of the latest industry and regulatory developments in relation to risk management practices. 
  • Provide risk management training to the wider team, within the Company and, as appropriate, the Group. 
  • Ensure continued alignment with the Group Enterprise Risk Management framework and objectives. 
  • Lead the relationship with the CAA in relation to risk management matters.

Role Requirements

  • Extensive experience in a senior management role in the insurance industry.
  • Proven leadership, management, organizational and communication skills.
  • Excellent business acumen, strong relationship management skills, along with the expertise to navigate and achieve the organization’s risk goals.
  • Deep understanding of the risks in life insurance products, including protection and conventional and unit-linked savings business.
  • Extensive knowledge of the financial and operational risk management of life insurance business, including risk mitigation techniques.
  • Proven ability to successfully manage internal and external business partners across various business disciplines and geographies.
  • Experience in dealing with and reporting to Boards and regulators.
  • Capacity to prepare Risk deliverables and be hands-on.
  • Fluent in English, any other language such as French, German, Italian or Spanish is considered as an asset.


  • Practical experience of life insurance transactions.
  • Understanding of the financial risks and risk management techniques in respect of European savings products with interest rate guarantees.



Closing Date

31 December 2022

Equal Opportunities Statement

The Monument Re Group is an Equal Opportunity employer. Our Corporate values of Trust and Collaboration demonstrate our commitment to fostering an inclusive culture where all our employees feel respected and valued. We recognise that each employee brings their own unique skill sets, capabilities, immutable characteristics, and varied experiences to their work. In turn, the Monument Re Group provides a work environment for all our employees to achieve personal and professional growth and development throughout their careers with us.  


Apply now

Can’t find what you’re looking for?

Would you like to join our exciting business but don’t see a role that suits you? Then why not submit your CV anyway?


Monument Re

Crown House
4 Par-la-Ville Road
Hamilton HM08

+1 441 400 9300

Monument Life Insurance DAC

Two Park Place,
Upper Hatch Street,
Dublin 2

Monument Assurance Belgium

Koloniënstraat | rue des Colonies 11
1000 Brussel | Bruxelles
Belgie | Belgique

+32 (0) 78 050 006

Monument Assurance Luxembourg S.A.

5, rue Eugène Ruppert
L-2453 Luxembourg

+352-264 98 1

Monument International Life Assurance Company Limited

St George’s Court
Upper Church Street
Isle of Man IM1 1EE

+44 1624 683 683

Robein Leven NV

Parkstraat 99,
2514 JH Den Haag,

070 376 66 66

Nordben Life and Pension Insurance Co. Limited

OLD bank chambers
La grande rue
st martin
GY4 6rt


Monument Re Limited © 2021 All rights reserved  | Terms of UsePrivacy Policy Cookies PolicyCompany Registrations