Head of Financial Market Risk, Convex Group
Property and casualty insurance company
Open for applications
Property and casualty insurance company
501-1000 employees
Open for applications
501-1000 employees
Company mission
To underwrite insurance and reinsurance for complex specialty risks.
Role
Who you are
- Extensive financial risk leadership experience in the context of an insurance company or actuarial consulting
- FIA/FFA, CFA qualification or equivalent
- Self-starter attitude and ability to work within ambiguity; flexibility and proven ability to diagnose and resolve issues and strong analytical skills
- Proven leadership and team management experience, with a track record of driving performance and fostering talent
- Deep understanding of investment fundamentals, asset classes, sectors, and principles behind deriving both systematic and non-systematic risk
- Robust understanding of risk management methodologies such as Value-at-risk (VaR)
- In-depth experience in ALM and investment portfolios/strategies within Insurance
- Well-rounded understanding of risk-based economic and capital models including Solvency II
- Significant experience with quantitative risk modelling, ideally combined with practical experience using stochastic risk models
- Prior experience of using ALGO is an advantage
What the job involves
- In your position as Head of Financial Risk, you own the risk oversight of the Group’s investment portfolios and manage any financial risks arising from the business, specifically in regard to market, credit and liquidity risks
- Reporting to the Group Chief Risk Officer, you lead the Financial Market Risk team and collaborate closely with other Risk Pillars, including Enterprise Risk, Insurance Risk, and the entity Chief Risk Officers
- In addition, you will work closely with senior leadership, including the Investment team, the Finance team, and the Actuarial team, to ensure robust risk management practices are in place
- Lead, mentor, and develop a team of financial market risk professionals, fostering a culture of excellence and continuous improvement
- Attend the Capital and Liquidity Committee, Group Executive Risk Committee and Board Investment Committee to discuss / provide risk opinions on relevant financial risk matters
- Lead and oversee the review of economic scenario generators
- Oversee and drive risk reviews and provide strategic advice on sign-offs on any expansions or significant variations to existing portfolios, including new investment products and due diligence on new investment managers
- Engage with internal and external investment managers to share market insights and risk assessments
- Drive the review and validation of liability-based benchmarks for use at the Group level and entity level
- Take ownership of the validation of market and credit risk parameters for use in capital modelling
- Lead and drive the provision of both quantitative and qualitative review of risk on a regular basis, including deep-dives
- Lead and own the production of financial risk reports in line with the group and entity risk frameworks and investment guidelines, including provision of forward-looking risk commentary
- Be responsible for reviewing risk-based assumptions within the investment plan
- Develop, drive, and monitor liquidity stress testing and the group’s liquidity risk framework
- Own the development and maintenance of a comprehensive stress and scenario testing framework
- Lead contributions to the GSSA/ORSA reporting process from a market, credit, and liquidity risk perspective, including stress and scenario testing
- Be responsible for building and maintaining strong relationships with key stakeholders, ensuring alignment with the Group's risk management strategy
Application process
- Applied
- 1st Interview
- Review
- 2nd Interview
- Final Interview
- Offer
- Hired
Salary benchmarks
Our take
Convex Group is a speciality insurer and reinsurer that was established in 2019. Unlike traditional insurance companies, Convex specialises in underwriting complex and non-standard risks, providing coverage across a wide range of lines of business such as property, casualty, marine, energy, aerospace, and speciality lines.
What sets Convex apart is its utilisation of advanced analytics, technical expertise, and risk management capabilities. By leveraging these strengths, Convex crafts tailor-made insurance and reinsurance solutions that precisely address the specific needs of each client. Its global presence enables the company to serve a diverse range of clients while maintaining a strong focus on building enduring relationships through a focus on customer care.
With an A.M. Best rating of A- (excellent), Convex has earned recognition for its customer service and dedication to meeting the unique requirements of its clients. By prioritising client satisfaction and customising solutions, Convex has positioned itself as a reputable player in the industry, providing reliable coverage for the most challenging risks.
Freddie
Company Specialist at Welcome to the Jungle
Insights
Company
Company benefits
- 30 days Annual Leave
- Birthday Leave
- 10% Employer Pension Contribution
- Private Health Insurance Medical Cover
- Life Assurance Cover
- Annual Health Check
- Group Income Protection
- 3 days of Volunteer Leave each year
- 10 days of help with care (elder/ childcare) through Bright Horizons
- Give as You Earn
- Cycle to Work
- Season Ticket Loan
Company HQ
Hamilton, Pembroke Parish
Leadership
Paul Brand
(Founder & CEO)Over 36 years of experience in the insurance industry. They previously worked as Chief Underwriting Officer at Catlin and served as the Chairman at XL Catlin.
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