Head of 1st Line Risk - C&O

We’re First Central Insurance & Technology Group (First Central for short), an innovative, market-leading insurance company. We protect the things customers love so they can get on with what matters to them in life. 

Data drives us. It fuels our outstanding distribution, finance, technology and legal services. Our underwriting skills are built on data expertise; it creates the insights we need to give the right cover to the right customers at the right price. But, it’s the people inside and outside our business that power us. They make us stand out, help us succeed. We’re ambitious. We’re growing. We’ve won awards.  

We are looking for a dynamic and experienced Head of 1st Line Risk to lead, coordinate and manage the Customer & Operations First Line Risk, Assurance, and Incident Management function. In this role, you will serve as the primary point of contact for the business, reporting to our Customer Director. You’ll focus on the Customer & Operations pillar, handling multiple products, and providing both first and second line assurance and controls to Group entities. Additionally, you will be responsible for managing stakeholder relationships.

Core skills we’re looking for to succeed in the role:

Risk management expertise: A strong understanding of risk management principles and practices is essential. This includes the ability to identify, assess, and mitigate risks effectively

Leadership and coordination: Strong leadership skills to manage and coordinate the risk management function across various departments. This involves setting the right tone for a risk-aware culture and ensuring alignment with the Group Risk Framework

Stakeholder management: Excellent stakeholder management skills to build and maintain relationships with key stakeholders, ensuring effective communication and collaboration on risk-related matters

Regulatory knowledge: Comprehensive knowledge of relevant regulations and compliance requirements. This ensures that our organisation meets all regulatory standards and mitigates compliance risks

Could you fit the bill? We're big on working flexibly - you'll spend most of your time working from home, with occasional visits to the office. But of course, it’s your choice - if you prefer to be in the office more - that's good with us too.

Our success? Well, that’s entirely down to our talented people, who we know, are our biggest asset. Check out our Glassdoor page to see what our employees think about working here. 

What’s involved:

Functional Level

• Provide specialist strategic Risk Management expertise, definition, support and challenge to the Customer & Operations function leading to the identification, assessment and mitigation of risks and risk controls across the function, required to meet strategic goals.
• Define the First Line Risk and Assurance strategy to ensure efficiencies and consistencies in risk practices across the pillar are achieved through streamlining and centralising key processes and fostering a culture of continuous improvement.
• Oversee the design, implementation and embeddedness of a First Line Risk and Assurance function.
• Educate, inform and raise awareness of the benefits and principles of effective Risk Management throughout the pillar
• Define key infrastructure and system requirements to support FLRC execution of risk and control processes Control assessment and issue management

Risk Management

• Assess and define risks and controls against leading practices and regulatory perspectives; enhance first line processes for risk and control identification, assessment, monitoring and reporting
• Assist with control rationalisation initiatives to reduce duplication across First Line Risk functions and other first and second line teams
• Perform regulatory mappings, high-risk process identification and control mappings to demonstrate coverage and align controls
• Lead on defining the assessment and continuous improvement of resilience plans across the function
• Define, develop and maintain suitable Key Control Indicators and methodology in collaboration with existing First Central First Line Risk functions, regularly reviewing risk controls for suitability and effectiveness
• Standardise metrics, monitoring and reporting processes, including tools and workflows (e.g., integrating dashboards, reporting, MIS and alert workflows) Data and automation
• Coordinate the management, remediation and resolution of all incidents across the pillar (including action delivery and root cause analysis)
• Provide oversight of pillar area specific QA and change management programmes and input into risk opinions including membership of steering groups where required
• Widely and constructively challenge management’s assessment of the effectiveness of and evidence of measures and controls
• Underpin and support ongoing compliance of key regulatory activities such as Financial Crime and Consumer Duty
• Facilitate Internal Audits, external audits and compliance assurance reviews and coordinate responses for the pillar
• Define, design and maintain the Risk Register and Risk Mitigation Action Log in alignment with the Group Risk Framework
• Define and deliver the annual attestation programme of work for core processes, providing 1st line challenge to the core process owners
• Define, prepare, review and submit monthly, quarterly and annual risk reports for Pillar Governance Reporting and C&O leadership
• Define, design and coordinate the delivery of control actions across Customer & Operations in conjunction with the Customer Director and Chief Claims Officer to ensure controls are effective and actions delivered in line with target actions
• Coordinate with 2nd and 3rd line risk reviews to oversee enhancement of controls and delivery of associated actions
• Lead a team of first line risk professionals providing mentorship, guidance and development opportunities to foster a high-performing culture
• Advise on the introduction of advanced data and technology capabilities, including aggregation layers to facilitate enhanced surveillance, monitoring and alert functions
• Comply with the requirements, and act in accordance with, the Group Code of Conduct and Fitness and Propriety Policies at all times
• Stay abreast of industry developments, regulatory requirements to ensure the pillar remains compliant

Experience:

• Demonstrable strategic Risk Management and experience at senior level
• Functional team leadership experience
• Project management experience
• Experienced in building relationships with senior management
• Influencing and networking with senior people to achieve consensus and collaboration
• Evidence of proven career track record and consistent record of achievement

Knowledge:

• Solid understanding of FCA rules, regulations, principles and codes of practice
• Up-to-date knowledge of trends in the insurance industry relevant to Risk Management and Corporate Governance requirements

Skills:

• Specialist technical knowledge of strategic and tactical risk management techniques
• Personal impact in business and technical discussions at all levels
• Resilient to challenge from senior levels whilst building and maintaining relationships
• Capacity and credibility to assess risk MI and where appropriate recommend/negotiate the continuance/closedown of business decisions
• Specialist, current and in depth technical knowledge of at least one specific area relevant to Customer & Operations
• Broad commercial and strategic awareness
• Sound, high level planning skills
• Expert knowledge of best practice in risk, business continuity and corporate governance
• Self-motivated
• Strong intellect
• Relationship building skills
• Negotiation and conflict management
• Appreciates and is sensitive to cultural diversity
• IT literate.

Behaviours:

• Strategic thinker
• Leading by example
• Business acumen
• Self-motivated, enthusiastic and with a “can do” attitude
• Pragmatic
• Embrace, embed and incorporate the First Central Values
• Outcome focused
• An organised and proactive approach
• Takes early initiative to make decisions.
• Emphasis on attention to detail and accuracy
• A flexible approach and positive attitude
• Team player
• Strives to deliver performance targets and drive business improvements to contribute to the success of the team and business
• A flexible approach and positive attitude

What can we do for you?

People first. Always. We’re passionate about our colleagues and know the best people deserve an extraordinary working environment. We owe it to them so that’s what we offer. Our workplaces are energetic, inspirational, supportive. To get a taste of the advantages you’ll enjoy, take a look at all our perks in full here. 

Intrigued? Our Talent team can tell you everything you need to know about what we want and what we’re offering, so feel free to get in touch.