Enterprise Risk Manager, LMI

With a company culture rooted in collaboration, expertise and innovation, we aim to promote progress and inspire our clients, employees, investors and communities to achieve their greatest potential. Our work is the catalyst that helps others achieve their goals. In short, We Enable Possibility℠.

JOB SUMMARY

Arch Financial Holdings Australia Pty Ltd and its subsidiaries (“Arch LMI”) are an APRA licensed provider of Lenders Mortgage Insurance (“LMI”). ALMI is a subsidiary of Arch Capital Group Ltd (“ACGL”); which is an S&P 500 global provider of insurance and reinsurance across a variety of product lines.

The Risk and Compliance Manager is a key member of Arch LMI’s second line (2LOD) Risk Management Function, which is responsible for a variety of risk and compliance activities.

The Risk and Compliance Manager reports directly to the Arch LMI CRO. This role is an enterprise-wide risk management role with a focus on the Operational Risk side, as well as and some Compliance contribution.

ESSENTIAL RESPONSIBILITIES AND ACCOUNTABILITIES

• Assists the CRO with maintaining key elements of the risk management framework, including risk policies, the risk register, the Governance, Risk & Compliance (GRC) system and risk reporting.

• Key responsibility within the Risk & Compliance team for overall compliance with CPS 230 Operational Risk Management prudential standard (assisting the CRO as Accountable Person).

• Champions excellent and effective risk management and compliance throughout the business. This includes undertaking controls assurance and monitoring activities as required.

• Delivers an important second line of defence risk management role, working closely with business stakeholders and first line risk in providing oversight, advice and challenge as required, primarily in the areas of: risk ratings, risk assessments, control environment, Key Risk Indicators (KRIs), risk appetite reviews and, as required, risk treatment plans.

• Coordination and delivery of Management Risk Committee (MRC) reporting across all risk categories, working closely with Risk & Compliance team members to ensure timely delivery, high quality reporting and insights. This includes assisting the CRO with risk and compliance reporting to the Board and Board committees, and any external risk reporting requirements.

• Responsibility, in partnership with the business, for maintaining a strong and compliant GRC system, ensuring strong data quality, and providing advice and troubleshooting as required.

• Partnering with the business with respect to implementing an enhanced data management framework across Arch and maintaining appropriate oversight of Business Continuity Planning (BCP), Information Security and Technology Risk.

• Assisting as required the CRO and Director, Risk & Compliance with managing Arch LMI’s Compliance Framework including risk and compliance training requirements, working closely with team members. A

• Assisting the CRO with the annual Risk Management Declaration and any information requirements with respect to internal or external audit reviews.

• Collaborates with leadership on reviews of strategy, business planning and priorities.

• Develops external stakeholder relationships as required, including attending to regular and ad-hoc requests for information from regulators (including APRA), ratings agencies and external auditor.

• Collaborates with other ACGL companies to ensure compliance with inter-company policies and arrangements.

• Participates in Risk & Compliance project work, including project work related to regulatory change.

• Assists team members with maintaining a calendar of Risk & Compliance Activities and requirements.
   

JOB SPECIFICATIONSKnowledge and Skills:

• Knowledge of APRA prudential standards applying to general insurers and LMI.

• Working knowledge of other legal and compliance obligations relating to general insurance and consumer credit and financial services regulation.

• Experience in developing and maintaining risk management and compliance frameworks, preferably within a financial services setting.

• Demonstrated ability to deliver results under tight deadlines and competing objectives.

• Persuasive communication skills in written and verbal formats; ability to address broad range of audiences including senior management, external stakeholders, and technical experts.

• Ability to negotiate and build credibility amongst peers while being customer-service oriented.

• Strong inter-personal skills and ability to function as member of a multi-disciplined, international team.

• Experience in a commercial risk management and compliance setting.

Education and Experience:

• ​Must have prior experience working in APRA regulated industries.

• Must have a minimum of 5 years’ experience working with a bank’s or insurer’s Risk Management Framework and/or Compliance Framework, including experience in operational risk management.

• Prior experience working in general insurance, LMI and/ or banking is preferred but not essential.

• Undergraduate degree in law, commerce, accounting or a similar discipline or experience.

WORKING CONDITIONS/ENVIRONMENT AND PHYSICAL DEMANDS

• Normal office environment. In office attendance at least 60%.

• Some interstate or international travel may be required.

Do you like solving complex business problems, working with talented colleagues and have an innovative mindset? Arch may be a great fit for you. If this job isn’t the right fit but you’re interested in working for Arch, create a job alert! Simply create an account and opt in to receive emails when we have job openings that meet your criteria. Join our talent community to share your preferences directly with Arch’s Talent Acquisition team.

15800 Arch LMI Pty Ltd