About the role
- 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.
- 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.
ADDITIONAL SKILLS and EXPERIENCE
- 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.
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.
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4 Par-la-Ville Road
+1 441 400 9300
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Two Park Place,
Upper Hatch Street,
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Koloniënstraat | rue des Colonies 11
1000 Brussel | Bruxelles
Belgie | Belgique
+32 (0) 78 050 006
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5, rue Eugène Ruppert
+352-264 98 1
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