Reinsurance Risk Business Partner, Aviva
£80.8-95k
+ Bonus opportunity - up to 12% of annual salary + Matching Share Plan
More information about location
Insurance, wealth and retirement business
Job no longer available
Insurance, wealth and retirement business
1001+ employees
Job no longer available
£80.8-95k
+ Bonus opportunity - up to 12% of annual salary + Matching Share Plan
More information about location
1001+ employees
Company mission
To be with people when it really matters, throughout their lives.
Role
Who you are
- It would suit someone who works collaboratively across teams; can influence and challenge but also seeks solutions; and enjoys the breadth and freedom of owning their area of expertise, choosing where to spend their time to ensure that the Risk Function is valuable, valued and trusted by all its stakeholders
- Solid understanding of different reinsurance structures used in Life Insurance and the risks impacted by them, including insurance, credit and operational risks
- Proven problem solving and analytical skills with an agile approach and ability to prioritise effectively and operate at both a deep and broad level of information and complexity as required. With the ability to champion clarity, seek efficient and pragmatic methods to drive outcome focused solutions to business and regulatory problems
- Excellent empathy and resilience along with strong interpersonal, verbal and written communication and presentation skills and the ability to gain confidence of senior management and challenge the status quo
- The ability to operate in a matrix structure and build strong networks across a range of collaborators internal to the Risk function, with the wider business and with Reinsurers
- A broad understanding of (or building towards an understanding of) statutory, legal and regulatory frameworks, risk management and corporate governance
What the job involves
- This is an exciting opportunity to take on a brand-new role oversighting all aspects of Reinsurance in UK Insurance, Wealth and Retirement (UK IWR)
- Reinsurance is an important strategic tool used by UK IWR to manage its exposure to insurance risks, improve profitability, manage balance sheet volatility, source assets and provide access to expertise
- Due to the significant transfer of risk and associated material counterparty exposures, the complex structures and operating mechanisms and the increased use of more innovative reinsurance approaches, there is a need to ensure robust end to end 2nd line oversight of Reinsurance
- The role holder will drive forward Risk’s oversight of the placement and management of all reinsurance in UK IWR supporting the 1st line to deliver safely on its strategic ambition, including through:
- Support, challenge and oversight of the end-to-end reinsurance activity in UK IWR across each business l and functional area
- Review and challenge of the framework and governance processes to appropriately manage reinsurance risk
Our take
With 18 million international customers, Aviva is the largest provider of insurance and leading life and pension funds in the UK. With a history that dates back to the founding of Hand in Hand Fire & Life Insurance Society in 1696, Aviva’s current form is thanks to a merger between Norwich Union and CGU plc in the year 2000.
Over the noughties, Aviva grew its market out to Europe and established a high-profile foothold in America thanks to the most expensive advertising campaign of the time that included celebrities Alice Cooper and Bruce Willis. Into the 2010s, the insurance broker was forced to restructure and close a large number of its non-core businesses in a bid to increase its shareholder returns and streamline its focus. In 2012 it sold its US wing to Athene Holding to further this goal.
Now stripped back after sell-offs of subsidiaries in Indonesia, Italy, and many more countries, Aviva is refocusing on pensions. In the wake of a Pensions Dashboard Programme delay in the UK, Aviva is in the running to take over the programme thanks to its pre-existing private systems. This exemplifies Aviva’s renewed focus on the fintech sector, all whilst playing national analyst during the cost of living crisis thanks to its annual Age of Ambiguity study.
Steph
Company Specialist at Welcome to the Jungle
Insights
2% employee growth in 12 months
Company
Company HQ
City of London, London, UK
Leadership
Amanda Blanc
(Group CEO)Currently Group Board Non-Executive Director at BP. Previously Chairman of the Welsh Rugby Union, Senior Advisor at Trov, CEO at Zurich Insurance Company.
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