Enterprise Risk Manager

About PIC

Pension Insurance Corporation (“PIC”) provides secure retirement incomes through comprehensive risk management and excellence in asset and liability management, as well as exceptional customer service. Our purpose is to pay the pensions of our current and future policyholders. We achieve our purpose by setting Companywide strategic objectives and driving a healthy culture based on our PIC Values of Resilient, Adaptable, and Loyal.

Role purpose

• To contribute to the Enterprise Risk Management (ERM) team in relation to PIC’s ERM framework, and to provide insight and assurance about the enterprise risks faced and emerging. Such insight and assurance should be provided in the context of PIC’s stated Risk Strategy and Appetite.
• The role requires the ability to effectively collaborate with numerous first line teams as well as to co-ordinate sub-teams within Risk & Compliance to ensure the ERM framework, associated tools and resilience plans are updated, reflective of good practice and embedded within the business
• Our Company values are expected to be reflected in the delivery and performance of every role.

Specific accountabilities assigned to the role of Enterprise Risk Manager within the Risk function:

• Contribute to the compilation of the quarterly CRO Report.
• Assess and analyse emerging risks, e.g. political, economic, technological and regulatory changes. Consider their potential impact on the business and assess potential actions that can be taken to mitigate the impact or capture the opportunity. Communicate with relevant stakeholders to this effect.
• Contribute to strategic risk assessments, e.g. relating to the Business Plan and dividends.
• Support the co-ordination of the development and operation of the enterprise risk management framework, which includes:

o The Risk Policy and Enterprise Risk Management Framework and system;

o Review of the Board level risk appetites;

o The ongoing review and development of the Risk Strategy, Risk Appetite Framework;

o Broader elements of the framework

o The review of wider risk policies

• Ensure that the framework and related tools are appropriately communicated to the business, and used.
• Support the development, completion and embedding of the ORSA report and process.
• Provide advice to and oversight of the relevant first line contacts on matters of the ERM framework.
• Support the Risk & Compliance Function with broader initiatives, including closure of regulatory and assurance actions, deep dive reviews, reviews of new business transactions.
• Support on risk framework developments, including associated risk taxonomy work.
• Lead on ERM related projects across both frameworks, emerging risks and strategic initiatives.
• Work with the broader Risk & Compliance Senior Leadership Team on initiatives.

Requirements:
Knowledge

• Knowledge of the development and embedding of Enterprise Risk Management frameworks
• Knowledge of emerging risk themes and geopolitical risks
• Knowledge of legal, regulatory and industry requirements, as relevant to the role
• Desirable: Knowledge of the UK bulk annuities industry and associated risk profile
• Desirable: Familiarity with the development and execution of Recovery and Resolution Planning, the Own Risk and Solvency Assessment (“ORSA”) report and Stress and Scenario testing planning

Skills

• Excellent written and oral communication skills, with ability to effectively communicate complex information.
• Strong analytical skills
• Stakeholder management:
• Experience in dealing with senior stakeholders, and ability to communicate succinctly to such stakeholders.
• Ability to manage upwards
• Ability to influence at all levels of the organisation to ensure developments are understood and embedded
• Must be able to work autonomously
• Ability to distil information and apply judgement
• Proficient user of the Microsoft Office suite e.g. MS Word, Excel and Powerpoint
• Must have, or be able to build, internal and external relationships to maintain an understanding of developing practices across the market

Experience

• Risk professional with experience of working within an independent challenge function, and working with or ideally within an Enterprise Risk Management team
• Must possess experience of liaising and interacting with senior individuals
• Experience of producing risk reports
• Desirable: Possess experience of UK bulk annuity transactions, from either a 1st line or 2nd line perspective

DEI at PIC

At PIC, we believe that true innovation stems from embracing diverse perspectives, backgrounds and experiences. We are committed to building a workplace where every individual, regardless of race, gender identity, sexual orientation, disability, age, religion, or socio-economic background, feels valued, heard and empowered to succeed. We hold ourselves accountable through ongoing initiatives, such as inclusive hiring practices, and equitable career development opportunities that support belonging and community. While we’re proud of our progress, we recognise there’s work ahead, and we remain dedicated to listening, learning and evolving together.

Benefits:
In addition to a competitive base salary and the opportunity to participate in our annual, performance-related bonus plan, upon joining us here at Pension Insurance Corporation, you will get access to some great benefits, including private medical insurance, 28 days' annual leave (excluding bank holidays), a generous pension scheme and much more.