Head of Risk

Overview The Emerald Group Ltd, Search and Selection is seeking a Head of Risk in Dublin. The opportunity involves leading risk management oversight to meet business objectives and regulatory requirements. This is a regulated position and requires compliance with the Senior Executive Accountability Regime (SEAR) and related frameworks.
This role is based in Dublin, with a hybrid working arrangement (three days in the office and two days at home) in line with the company’s policy. The role may be subject to changes at the company’s discretion.
Location: Dublin
Note: This position is classified as a Pre-Approval Controlled Function (PCF-14) within the SEAR under the IAF Act 2023, including Fitness and Probity standards and Conduct Standards.
What Will You Do? Holds overall responsibility for the Enterprise Risk Management Function (PCF-14) to meet the needs of the business, regulators, rating agencies and policyholders
Membership of the Board Risk Committee, Management Committee, Deputy Chair of the ERC and other forums as instructed to lead development of the risk management framework
Own and maintain the ORSA, Recovery Plan, Risk Book and other important risk documentation ensuring it meets requirements. Facilitate completion of thematic risk reviews as required in response to regulators and supervisors
Proactively identify, manage and mitigate principal risks and ensure risk events are escalated and reported in line with requirements in the Risk Management Framework
Gain support for risk management, through collaboration, sponsorship and challenge to ensure that risk tolerance/appetite is consistent with the Board’s risk strategy and that this is cascaded to and business unit level. Monitor and report performance of the business against risk appetite
Maintain current knowledge of regulatory requirements on all risk issues (financial and non-financial), advise the business on the effects of implementation and offer recommendations on optimising the business response
Lead / participate in external committees, representing the client at external forums in Ireland
Facilitate the Risk and Control Self-Assessment (RCSA) process including maintenance of the risk appetite dashboard and Solvency II documentation
Manage the Own Risk Solvency Assessment (ORSA) process
Manage capital analysis of Operational risk in conjunction with the Capital Management Team. Assist in development of risk modelling, validation techniques and inputs
Ensure that regulatory expectations and requirements are satisfied with detailed knowledge of the Central Bank of Ireland’s (CBI) requirements
Deploy risk management expertise to work with key and senior stakeholders from 1st, 2nd and 3rd lines of risk management to ensure robust plans are created and implemented to support current and future business objectives
Advise and report in collaboration with line management information on any potential risks to the profitability or existence of the company. Identify and assess threats/drivers of risk, put plans in place to enhance resilience and decide how to avoid, reduce or transfer risks
Oversee and monitor risks that are, or could be, potentially significant whilst ensuring high ethical standards and fair customer outcomes
Review and Challenge root cause analysis of risk events to ensure remedial action is appropriate, implemented in a timely manner, and prevents recurrence where possible
Work with other assurance functions to develop effective and efficient oversight activities across the 3 lines of risk management model, whilst maintaining independence
Drive continued improvement of change capability within Risk aligned to organisational values, culture and competency frameworks
Maintain high standards of stakeholder management and communication, to ensure an effective working environment, employee commitment and consistent high performance
Deliver risk management training to the business
Perform other duties as assigned
What Will Their Ideal Candidate Have? Thorough knowledge of risk management methods (financial and non-financial) and best practices in Ireland
Advanced knowledge of general regulatory requirements as they relate to business lines supported
Intermediate knowledge of corporate structure and a particular business unit’s products and procedures
Advanced ability to concisely present complex regulatory issues and to understand, synthesize and convey complex data; strong verbal and written communication skills
Advanced ability to negotiate skilfully and successfully
Advanced ability to prioritise and multi-task duties and projects; credible, reliable and available both within and outside the organization
Intermediate ability to lead and motivate others
Thorough experience gained in the Insurance industry preferred
General knowledge of risk management software preferred
Comprehensive knowledge of Microsoft Office suite and written reporting preferred
What is a Must Have? Detailed knowledge of risk requirements and risk experience is required (Financial Services Insurance)
Bachelor’s degree in a finance/business/economics related program or professional risk bodies or equivalent work experience is preferred
Seniority level Mid-Senior level
Employment type Full-time
Job function Other
Industries Insurance

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