Explore opportunities in risk management with a focus on Chief Risk Officer (CRO) positions across the United States. These executive roles are critical for overseeing and mitigating financial, operational, and compliance risks within organizations. Professionals seeking CRO positions should possess extensive experience in risk assessment, regulatory compliance, and strategic planning.Job Title: Chief Risk Officer (North America)
Division: Risk and Compliance
Reports To: Group CRO
Key Relationships: Executive and non-Executive members of North America Boards and Risk Committees, and relevant group stakeholders.
Job Summary: To be accountable to Group CRO and North America leadership for management and oversight of the Platform Risk and Compliance team and implementation of the Risk Management framework. To enhance the quality of decision making through providing risk based challenge and reporting. Direct line management of the North American Risk team; dotted line responsibility for the North American Compliance team.
Key Responsibilities:
Overall activities are managed at Group level, the CRO is responsible for setting and monitoring them for North America (NA).
- Oversee the implementation and oversight of the Risk Management Framework in North America and ensures its appropriateness.
- Facilitate the annual review of platform risk appetite ensuring it remains relevant and appropriate for North American platform. Work with the business, group and other platform CROs to capture new risks (including emerging risks)
- Represent Risk and Compliance at the platform management committees and boards, ensuring platform obligations in respect of the North American regulatory and legal environment and platform responsibilities to the group and others are understood and met
- Ensure that platform risk incidents and events are subject to an effective process for capture, management and reporting, including to external stakeholders such as regulators/ external auditors.
- Enhance the quality of decision making in the North American platform through risk reporting, including regular risk reporting and ORSA reporting.
- Perform the role of second line of defence , providing risk oversight and challenge.
- Promote an appropriate risk culture by maintaining a robust control environment that is owned and documented by the business.
- Provide critical appraisal of the control environment proposed by the business with reference to the agreed risk appetite and provide recommendations to the business and management.
- Work with other risk experts in the 2nd line and the business to ensure risks (including emerging risks) are appropriately identified and managed.
- Prepare or review the risk management sections of platform reports and accounts.
Leadership/Management
- Provide leadership to the platform teams comprising the 2nd Line of Defence in North America, ensuring vision, tone and strategic objectives are understood and met.
- Through the established appraisal and performance management procedures for Beazley, provide supportive and consistent line management to all direct reports.
- In collaboration with the Group Head of Compliance, regularly review resourcing for the platform 2nd Line teams in North America to ensure they are resourced to meet their obligations and perform against their mandate.
- Oversee the implementation of strategic tools to assist with the 2nd Line's delivery against their mandate.
- Oversee the platform 2nd Line's contribution to coordinated assurance activity with the 1st and 3rd Lines of defence.
- Oversee the implementation of effective reporting standards across the platform 2nd Line
- Oversee the appropriate representation of the platform 2nd Line on key committees and steering committees.
- Ensure the platform 2nd Line teams develop policies and procedures that comply with regulatory and local statutory requirements.
- Work with the Group Head of Compliance to ensure that Beazley's Compliance framework is fit for purpose and implemented through the platform.
Key Responsibilities:
It is important that within all your interactions both internally and externally you adhere Beazley's core values - Being Bold, Striving for Better, and Doing the Right Thing as they contribute to an internal environment of teamwork and promote a positive brand image and experience to our external customers. We also expect Beazley employees to:
- Comply with Beazley procedures, policies and regulations including the code of conduct which incorporates the PRA and FCA Conduct.
- Undertake training on Beazley policies and procedures as delivered by your line manager, the People & Sustainability or assurance teams (compliance, risk, internal audit) either directly, via e-learning or the learning management system.
- Display business ethics that uphold the interests of all our customers.
- Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs.
- Comply with any specific responsibilities necessary for your role as outlined by your line manager, the People & Sustainability or assurance teams (compliance, risk, internal audit) and ensure you keep up to date with developments in these areas. This may include, amongst others, Beazley's underwriting control standards, Beazley's claims control standards, other Beazley standards and customer relationship management.
- Carry out additional responsibilities as individually notified, either through your objectives or through the learning management system. These may include membership of any Beazley committees or working groups.
Skills and Knowledge Specification:
Knowledge and Experience:
- Strong general commercial and financial knowledge.
- Proven experience of leading in significant risk management roles.
- Strong knowledge of property and casualty insurance industry.
- Proficiency in risk assessment methodologies and the ability to apply them to various operational scenarios.
- In-depth regulator relations experience in an insurance-related organisation, including a deep understanding of federal and state regulations affecting property/casualty insurers
- Strong regulatory and market best practice knowledge, particularly that relevant to risk management.
- Extensive experience working with Boards of Directors, Supervisory Committees, Executive Management teams, and regulatory agencies.
Skills and Abilities:
- Progressively responsible experience within the risk function in the property/casualty industry.
- Demonstrated ability to build strong relationships with a wide range of stakeholders.
- Understanding of business strategy and the work of the other departments within the organisation.
- Good people management skills.
- Strong analytical skills with attention to detail.
- Strong written and verbal communication skills.
- Ability to negotiate with both internal and external parties.
Competencies:
- Integrity
- Holding people accountable
- Developing people
- Broad-based thinking
- Resilience
- Achievement Orientation
- Teambuilding
- Customer Focus
- Technical Competence/expertise
- Highest degree of integrity/discretion
- Business/Financial acumen
Who We Are:
Beazley is a specialist insurance company with over 30 years' experience helping people, communities and businesses to manage risk all around the world. Our mission is to inspire our clients and people with the confidence and freedom to explore, create and build - to enable businesses to thrive. Our clients want to live and work freely and fully, knowing they are benefitting from the most advanced thinking in the insurance market. Our goal is to become the highest performing sustainable specialist insurer.
Our products are wide ranging, from cyber & tech insurance to marine, healthcare, financial institutions and contingency; covering risks such as the weather, film production or protection from deadly weapons.
Our Culture
We have a wonderful mix of cultures, experiences, and backgrounds at Beazley with over 2,000 of us working around the world. Employee's diversity, experience and passion allow us to keep innovating and moving forward, delivering the best. We are proud of our family-feel culture at Beazley that empowers our staff to work from when and where they want, in an adult environment that is big on collaboration, diversity of thought and personal accountability. Our three core values inspire the way we work and how we treat our people and customers.
- Be bold
- Strive for