POSITION: Head of RiskASSIGNMENT NO: 29024LOCATION: DublinWhat Is the Opportunity?The Head of Risk manages oversight of risk management, to meet business objectives and regulatory requirements.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 is required to provide assertive challenge and ensure 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.In this regulated position, they will assess and certify that you have met the applicable standards of Fitness and Probity (F&P) on appointment and annually thereafter. Under SEAR you are required to abide by the Conduct Standards. Their leaders in regulated roles and 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. They will also provide you with a set of mandatory prescribed responsibilities, where relevant.This position will be based at their offices in Dublin, Ireland. Our client currently offers flexibility to employees who wish to work on a hybrid basis in accordance with their Hybrid Work Arrangements Policy. This entails full time employees working three days a week in the office and two days at home (or pro rata for part-time employees). This policy may be changed at the Company's discretion.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 policyholdersMembership of the Board Risk Committee, Management Committee, Deputy Chair of the ERC and other forums as instructed to lead development of the risk management frameworkOwn 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 supervisorsProactively identify, manage and mitigate principal risks and ensure risk events are escalated and reported in line with requirements in the Risk Management FrameworkGain 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 appetiteMaintain 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 responseLead / participate in external committees, representing the client at external forums in IrelandFacilitate the Risk and Control Self-Assessment (RCSA) process in including maintenance of the risk appetite dashboard and maintenance of Solvency II documentationManage the Own Risk Solvency Assessment (ORSA) processManage capital analysis of Operational risk in conjunction with the Capital Management Team. Assist in development of risk modelling, validation techniques and inputsEnsure that regulatory expectations and requirements are satisfied with detailed knowledge of the Central Bank of Ireland's (CBI) requirementsDeploy 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 of business objectivesAdvise 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 (in view of regulation and best practice) and fair customer outcomesReview and Challenge root cause analysis of risk events to ensure remedial action is appropriate, implemented in a timely manner, and prevents recurrence where possibleWork with other assurance functions to develop effective and efficient oversight activities across the 3 lines of risk management model, whilst maintaining independenceDrive continued improvement of change capability within Risk aligned to organisational values, culture and competency frameworksMaintain high standards of stakeholder management and communication, to ensure an effective working environment, employee commitment and consistent high performanceDeliver risk management training to the businessPerform other duties as assignedWhat Will Their Ideal Candidate Have?Thorough knowledge of risk management methods (financial and non-financial) and best practices in IrelandAdvanced knowledge of general regulatory requirements as they relate to business lines supportedIntermediate knowledge of corporate structure, as well as a particular business units products and proceduresAdvanced ability to concisely present complex regulatory issues. Advanced ability to understand, synthesize and convey complex data. Advanced verbal and written communication skillsAdvanced ability to negotiate skilfully and successfullyAdvanced ability to prioritise and multi-task duties and projects on a timely basis. Has an advanced level of credibility, reliability and availability both within and outside the organizationIntermediate ability to lead and motivate othersThorough experience gained in the Insurance industry preferredGeneral knowledge of risk management software preferredComprehensive knowledge of Microsoft Office suite and written reporting preferredWhat 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