Senior Enterprise Risk Manager

Job description

Dublin Cherrywood, permanent

You must have valid work rights for Ireland, the UK or EU to be considered for this position.

Aviva's ERM Senior Manager assists the Chief Risk Officer in the management and maintenance of the Firm’s Enterprise Risk Management (EMR) Framework.

Enterprise Risk Management and the use of risk and capital in business decisions is key. This role is a second line role leading the Risk challenge to the 1st line management on the use and understanding of the components of the risk appetite framework in business decisions. This role requires someone with the personality and skills to help drive interactions with key stakeholders across the organisation, to effective identify and assess key risks.

ROLE PURPOSE

The ALPI DAC ( Aviva Life & Pensions Ireland) Enterprise Risk Lead is responsible for embedding a risk-based decision making culture across the business through key ORSA processes.  This includes embedding the Risk Appetite Framework, oversight of Stress and Scenario Testing Activity, challenge of the Business Strategy and Plan and reporting on the use of the ORSA to drive risk based decision making as per Solvency II requirements.

REPORTS TO:

·  Chief Risk Officer

RESPONSIBILITIES

ERM Framework

·  Lead the design, implementation, ongoing oversight, and regular review of the firm’s enterprise risk management framework ensuring it complies all relevant rules and obligations
·  Implement, maintain and raise awareness of the Enterprise Risk Framework, including: Risk Appetite; Risk Taxonomy; Key Risk Indicators; and Governance
·  Maintain up to date and comprehensive documentation of the Framework Plan and coordinate the strategy for delivering the ERM programme (risk appetite, risk identification, RCSA, KRI framework, controls assurance, capital requirements and the reporting of these) with other key stakeholders both in Risk and within other departments, alongside reporting to the Executive and Board committees
·  Collaborate effectively with the broader Risk Function and business to implement and embed the Operational Risk Framework e.g., Risk and Control Self-Assessment (RCSA / risk register), Key Risk Indicators, risk incidents, operational losses, scenario analysis, etc.

Risk Appetite Framework

·  Collaborate with Group Risk to ensure the Risk Appetite Framework develops in line with best practice and is fit for purpose
·  Shape the implementation and effective operation of the risk appetite framework within ALPI DAC through setting of risk preferences, appetite and risk capital tolerances, engaging with senior management as appropriate,
·  Oversight and challenge of first line monitoring of limits and associated actions
·  Communication and use of the elements of the Risk Appetite Framework to influence business decisions, including in Stress & Scenario Testing, Recovery & Resolution Planning and Business Planning activity.

Stress and Scenario Testing

·  Stress & Scenario Testing including Recovery and Resolution Planning with respect to non-financial risks

Risk Assessments & Reviews

·  Review and prepare risk report on the Strategy & Business Plan with respect to enterprise risks (non-financial)
·  Lead on delivery of risk assessments into the design effectiveness of policy framework and business standards
·  Provision of Quality Assurance reviews into the effectiveness of key risk controls within the Operational Risk & Conduct Methodology

Emerging Risks

·  Maintain emerging risk spectrum and processes
·  Lead/influence changes in roll out of Emerging Risk understanding in the business
·  Produce Emerging Risk Scenarios for the Board Risk Committee

Risk Reporting

·  Forward-looking enterprise wide CRO reporting to Executive, Board Risk Committee, Board Conduct Committee, Board and Group.
·  ORSA reporting (non-financial risks)

QUALIFICATIONS/EXPERIENCE

Qualified actuary (FIA / FFA) or qualified through suitable experience

·  Knowledge of the industry, products, business model and associated risks.
·  Knowledge of current and emerging issues in the industry, enterprise risk management and regulatory environment relating to risk.
·  A knowledge of statutory, legal and regulatory frameworks, risk management and corporate governance
·  Knowledge and understanding of industry leading practices in terms Enterprise Risk Management.
·  Experience of economic capital assessments and understanding of the key drivers of the main performance management metrics used.

Personal Capabilities

·  Energy, drive and a ‘can do’ attitude are a must
·  Highly numerate and analytical with a developed capability to interpret data and establish alternatives and solutions to complex problems
·  An understanding of risk mitigation techniques
·  Excellent verbal and written communication skills.
·  A high impact individual, who provides confident and credible challenge influencing senior stakeholders within the business
·  Inquisitive and analytical with ability to appreciate the ‘big picture’
·  Resourcefulness, ability and drive to quickly acquire a deep understanding of the strategies, plans and performance in the relevant areas of IWR
·  Ability to present complex information in a straightforward and clear manner facilitating the right actions and responses
·  Ability to manage several competing priorities simultaneously, work under pressure and to deadlines.

Success factors (“what does good look like?”)

·  All elements of the Risk Appetite Framework are regularly refreshed, well understood by the business and considered in all relevant decisions.
·  Any breaches against Appetite or tolerances are understood, clearly communicated and escalated through the appropriate channels with appropriate rectification proposed where appropriate
·  Continued focus on managing the risks to the firm’s strategic ambitions and plans is maintained throughout the year.
·  Management and Boards have are provided with clear, up to date messaging around key business risks and are comfortable that appropriate mitigating actions are in place.

Aviva is for Everyone

Our diversity and inclusion policies and initiatives are shaping an environment where everyone feels welcome regardless of age, disability, race, ethnicity, gender, gender identity, religion, culture, sexual orientation, national origin, marital status, pregnancy, maternity or those with other caring responsibilities. Our approach helps to ensure that Aviva is a place which values difference and provides equal opportunities for all.

We flex locations, hours and working patterns to suit our customers, business, and you.

Our smart working combines the benefits of flexibility with time together with colleagues.

We prefer all applications to be submitted online, however if you require an alternative method of applying, please contact sophie.keely@aviva.com or at 086 1584943.