Risk Manager

Black6; Hamilton; On-site; GBP 60,000 - 80,000; Full time

Job summary

A financial services company is seeking a Risk Manager in Hamilton, Scotland. This key role involves overseeing risk monitoring and compliance processes, evaluating investment proposals, and leading the development of asset liability matching and liquidity reporting. Candidates should have a Bachelor’s degree in Finance or a related field, along with at least 5 years of relevant experience in (re)insurance or financial services. Excellent critical thinking skills and the ability to collaborate with various stakeholders are essential.

Qualifications

• Bachelor’s degree in Finance, Risk Management, or similar.
• 5+ years relevant experience in (re)insurance or financial services.
• Proven experience with model validations and ALM.

Responsibilities

• Oversee risk monitoring and compliance processes.
• Evaluate investment proposals from asset managers.
• Lead development of asset liability matching and liquidity reporting.

Skills

Knowledge of financial markets

Model validations

Risk modeling

Attention to detail

Critical thinking

Education

Bachelor’s degree in Finance or related field

Tools

Risk modeling software

Job description

Kuvare Services Bermuda Ltd. ("KSB"), a Bermuda based service provider to affiliated and regulated Bermuda-domiciled long-term reinsurers, is seeking a Risk Manager reporting directly to the Chief Risk Officer. As a key member of the risk team, the incumbent will be directly involved in mitigating the Company’s exposures and risks.

About the role

• Oversee, implement, and enhance risk monitoring and compliance processes for Kuvare’s Bermudian entities including reporting to the CRO, President and Board
• Evaluate, assess and comment on investment proposals from asset managers ensuring appropriateness given credit risk etc.
• Lead the development and enhancement of Kuvare’s asset liability matching and liquidity reporting.
• Evaluating performance and effectiveness of Kuvare’s FX hedging activities.
• Supporting governance and validation processes for Kuvare’s Scenario Based Approach “SBA” modeling.
• Monitor compliance with the Bermuda Monetary Authority regulations and support and contribute to a strong collaborative risk culture.
• Monitor developments and trends within the industry.
• Monitoring and assessing ongoing counterparty investment compliance.
• Coordinating with investment, finance, and actuarial teams on various capital analysis, risk, and capital reports.
• Performing second-line control for underwriting and model risk including:
• Providing risk analysis and opinion for new US and Asia block and flow transactions.
• Offer strategic support while challenging first-line processes and models.
• Coordinating Risk Committee meetings and deliverables.
• Oversight of policies, standards, and templates and monitoring their impact.
• Maintenance of a central database of policies accessible to risk committee members.
• Implementing ongoing execution of Commercial Insurer’s Solvency Self-Assessment (“CISSA”), ad-hoc regulatory reporting and monitoring regulatory changes including:
• Review of governance structure and documentation.
• Risk identification and scenario analysis with a focus on credit and spread risk.
• Evaluation of risk appetite and key risk indicators.

Qualifications

• Bachelor’s degree in Finance, Risk Management, Actuarial Science, Mathematics, Statistics or similar.
• Professional certifications such as FSA, FIA , CFA or equivalent designation;
• A minimum of 5+ years relevant experience preferably working in a (re)insurance, asset management, or financial services environment;
• Display a keen interest in financial markets;
• Proven experience with model validations, risk modeling and ALM;
• Demonstrate good understanding of wide range of public and private asset classes
• Possess a solid understanding of a range of derivative hedging strategies
• Experience with Bermuda’s regulatory, compliance and reporting structures (or an equivalent framework) would be advantageous;
• Experience in various frameworks such as LICAT, GAAP, SBA, SII Matching Adjustment etc.;
• Experience in asset intensive life and annuity products;Experience in managing other members of staff would be ideal;
• Excellent critical thinking skills and sound judgement with a strong attention to detail and ability to prioritize competing deadlines, projects, and ad-hoc requests as they arise;
• Ability to effectively collaborate and communicate both written and oral with a range of stakeholders; and
• Willingness and capacity to work overtime including evenings, weekends, and public holidays and on short notice when needed to meet time-sensitive tasks.