Division Risk Officer - Luxembourg - FM

Description

Job Description:

Established nearly two centuries ago, FM is a leading mutual insurance company whose capital, scientific research capability and engineering expertise are solely dedicated to property risk management and the resilience of its policyholder-owners. These owners, who share the belief that the majority of property loss is preventable, represent many of the world's largest organizations, including one of every four Fortune 500 companies. They work with FM to better understand the hazards that can impact their business continuity to make cost-effective risk management decisions, combining property loss prevention with insurance protection.

The Division Risk Officer - EMEA provides the second line of defense oversight of business risks for FM entities operating in the region. As head of the regional risk management function(s), the DRO is responsible for evolving, implementing and managing the EMEA risk management framework (RMF), to ensure that the regional risk management obligations of FM, FM Insurance Europe S.A. Board of Directors (FMIE BOD), FMIC Board of Directors (FMIC Board) and executive management are appropriately discharged.

 

The RMF is the totality of systems, structures, policies, processes and people that identify, measure, monitor, audit, report and control or mitigate all internal and external sources of material risk. Effective implementation requires strategic risk management leadership, an ability to partner with internal and external stakeholders, an understanding of the regional risk and regulatory landscape (including Environmental, Health and Safety – EHS), the capacity to manage both big picture and detail, and active participation in EMEA business and strategy development.

 

The Division Risk Officer - EMEA oversees risk management activities in FMIE licensed territories (EEA, Switzerland and the United Kingdom) and directly manages risk in other EMEA territories or where FMIE is not the operating entity. Additionally, the Division Risk Officer-EMEA is appointed Risk Management Key Function Holder of the Luxembourg Insurance Carrier. Role success is demonstrated by:

 

-  a cohesive EMEA risk management function that is integrated into the business.

-  a comprehensive, complete and documented RMF that supports FM's business objectives.

-  an established and effective risk culture at all levels across the EMEA region.

-  measurable and documented compliance with all compulsory regulatory standards and requirements.

-  internal and external RMF audits and/or reviews with no or minor negative findings/recommendations.

-  no increase in regulatory supervision or other penalty as a result of an inadequate or ineffective RMF.

timely management and executive reporting on the FM EMEA risk profile and key developments.

•       Lead the EMEA and FMIE risk management function (formally acting as Risk Management Key Function Holder for FMIE in Luxembourg, Switzerland and the United Kingdom), including the FMIE Risk  Management Committee (RMC), to evolve and implement the RMF. Provide strategic risk management leadership and guidance to all constituencies in the EMEA region. Develop and maintain risk management policies, processes, procedures and controls, ensuring they remain contemporary, compliant and supportive of FM's business objectives. Partner with and coordinate the various internal RMF stakeholders. Provide effective participation and challenge in the EMEA strategy development and decision-making process, to ensure that material business decisions consider all pertinent risks.

•       Establish and sustain robust working relationships with the various internal  RMF stakeholders, including the BOD and its delegates, EMEA management, the Business Risk Team (BRT), Law & Governmental Affairs (LGA), Finance and Internal Audit. Consult and communicate effectively with these stakeholders to build consensus at all levels around the importance of risk management to the ongoing success of FM in the EMEA region and ensure that all interests are appropriately aligned to deliver an effective and efficient outcome for the business.

•       Monitor the external risk and regulatory landscape in the EMEA region (and for FMIE territories), developing and maintaining a thorough knowledge and understanding of the environment. Identify key risk management developments and ensure that the RMF is equipped to proactively manage them in accordance with business and regulatory needs, to maintain FM/FMIE's desired risk profile. Provide the EMEA Division Manager with the information required to assess the Division risk profile and make informed decisions. Provide the FMIE (Licensed managers) with the information required to assess the FMIE risk profile and make informed decisions.

• Support EMEA business stakeholders to develop Corporate and Divisional Enterprise Resilience programs across the region. Chair the FMIE EHS Committee and help coordinate efforts to harmonization EHS culture and practice across the EMEA region.

•       Develop a target risk culture for the EMEA region and establish a strategy to achieve and maintain this, including appropriate processes and metrics to measure and report on progress. The risk culture should include a strong focus on risk management, governance and accountability at all levels of the business. Implement and ensure the use of a common risk language and approach to support and promote this.

•       Establish and maintain monitoring and reporting systems and processes to enable efficient and effective communication of FM/FMIE's risk profile, the external risk environment(s), risk management strategies, and other aspects

of the RMF, to a range of audiences from executive management to all EMEA employees.

Qualifications:

• 4 Year / Bachelor's Degree or equivalent in Risk Management, Governance, Business or other relevant field of study. MBA/relevant Master's degree an advantage.

• 10 years of work experience with 5+ years' experience in risk management and governance.

• Exceptional knowledge of risk management principles and the risk environment.

• Operational insurance industry experience, ideally with a thorough understanding of FM's business model.

• Experience of driving framework/program implementation and demonstrated track record of an effective change agent.

  Consulting experience an asset.

• Experience and oversight with EH&S functions as part of risk management responsibilities.

• Commercial acumen – clear understanding of how lines of defense support a business and the balance between risk and business needs.

• Attention to detail with a 'big picture', strategic perspective.

• Verbal communication – able to lead, listen, present to and/or engage in meetings at all levels. Influencing and partnering – able to effectively build consensus, partner with, advise and educate stakeholders at all levels.

• Written communication – able to produce high-quality reports to internal and external stakeholders.

• Able to make decisions despite complexity and/or ambiguity.

• Standard MS Office skills.