OverviewJoin to apply for the Head of Risk, TIDAC (PCF-14) role at Travelers Europe.The Head of Risk for Travelers Insurance Designated Activity Company (TIDAC) manages oversight of risk management, throughout TIDAC (including its UK Branch) to meet business objectives and regulatory requirements. This role works with the TIDAC Board, TIDAC Risk and Remuneration Committee, TIDAC Management Committee and Travelers Europe (TRVE) CRO and Executive Risk Committee (ERC) and Risk / Control Owners to raise awareness and mitigate priority risks aligned with the Travelers risk appetite.Under general supervision, this role monitors all risk types to ensure sound and responsible business practices, high ethical standards and the integrity of products and services delivered to customers. The role provides assertive challenge and ensures that significant, or potentially significant risk issues are promptly and appropriately reported to senior management and relevant governance forums.This role is a Pre-Approval Controlled Function (PCF-14) within the Senior Executive Accountability Regime (SEAR) as set out in the Individual Accountability Framework (IAF) Act 2023 and in accordance with the rules and regulations of the regulators. Fitness and Probity (F&P) standards are assessed on appointment and annually thereafter. You will abide by the Conduct Standards under SEAR. Our leaders in regulated roles champion Travelers’ culture and we are committed to fostering a diverse and inclusive work environment. In addition to this job description, you will have a Statement of Responsibilities (SoR) outlining your accountabilities. A set of mandatory prescribed responsibilities will be provided where relevant.This position will be based at our offices in Dublin 2, Ireland. Travelers Europe offers hybrid work in accordance with our policy, with full-time employees typically working three days a week in the office and two days at home (or pro rata for part-time employees). Policy terms may change at the Company’s discretion.What Will You Do?Hold overall responsibility for the Enterprise Risk Management Function (PCF-14) to meet the needs of the business, regulators, rating agencies and policyholders.Serve on the TIDAC Board Risk Committee, TIDAC Management Committee, Deputy Chair of the ERC and other forums to lead development of the risk management framework.Own and maintain the TIDAC ORSA, TIDAC Recovery Plan, TIDAC Risk Book and other important risk documentation; facilitate completion of thematic risk reviews as required by regulators and supervisors.Proactively identify, manage and mitigate principal risks and ensure risk events are escalated and reported in line with the Risk Management Framework.Gain support for risk management through collaboration, sponsorship and challenge to ensure risk tolerance/appetite aligns with the Board’s risk strategy and cascades to business units; monitor and report performance against risk appetite.Maintain current knowledge of regulatory requirements on all risk issues (financial and non-financial); advise the business on effects of implementation and offer optimization recommendations.Lead or participate in external committees, representing Travelers at external forums in Ireland.Facilitate the TRVE Risk and Control Self-Assessment (RCSA) process in TIDAC, including maintenance of the risk appetite dashboard and Solvency II documentation.Manage the TIDAC Own Risk Solvency Assessment (ORSA) process.Manage capital analysis of operational risk with the Capital Management Team; assist in development of risk modelling, validation techniques and inputs.Ensure regulatory expectations are satisfied with detailed knowledge of the Central Bank of Ireland (CBI) requirements.Collaborate with key stakeholders across 1st, 2nd and 3rd lines of risk management to ensure robust plans support current and future TIDAC objectives.Advise on potential risks to profitability or the company’s existence; identify threats, implement resilience measures, and decide how to avoid, reduce or transfer risks; oversee and monitor significant risks while upholding high ethical standards and fair customer outcomes.Review root cause analyses of risk events to ensure timely and effective remedial action, preventing recurrence where possible.Work with assurance functions to develop effective oversight activities across the 3 lines of risk management model while maintaining independence.Drive continued improvement of risk change capability aligned to organizational values and competency frameworks.Maintain high standards of stakeholder management and communication to ensure an effective working environment and high performance.Deliver risk management training to the business.Perform other duties as assigned.What Will Our 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 supported business lines.Intermediate knowledge of corporate structure and product procedures.Advanced ability to concisely present complex regulatory issues; synthesize and convey complex data; strong verbal and written communication skills.Advanced negotiation skills; ability to influence and challenge effectively.Advanced ability to prioritise and multi-task; high credibility, reliability and availability.Intermediate ability to lead and motivate others.Experience in the Insurance industry is preferred.General knowledge of risk management software and comprehensive knowledge of Microsoft Office; reporting experience preferred.What is a Must Have?Detailed knowledge of risk requirements and risk experience in Financial Services Insurance.Bachelor’s degree in finance/business/economics or equivalent professional risk qualifications or experience is preferred.What Is in It for You?Private Medical Insurance: Single cover provided by Travelers with option to add dependents at your expense via payroll deduction.Retirement: Core pension contribution with potential additional company contribution if you contribute to the plan.Holiday Entitlement: Minimum 25 days, with option to purchase up to 35 days per year.Wellness Programme: Tools, discounts and resources to support wellness and caregiving; access to mental health resources and counseling.Volunteer Encouragement: Matching Gift and Volunteer Rewards program to support charitable giving.Employment PracticesTravelers is an equal opportunity employer and values the diverse abilities and talents of its people.If you are a candidate and have questions regarding the physical requirements of this role, please contact us for assistance.Travelers reserves the right to fill this position at a level above or below the level included in this posting.Seniority level: DirectorEmployment type: Full-timeJob function: General BusinessIndustries: Insurance
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