Managing Principal (Director) - Insurance Focus - Non-Financial Risk (Operational Risk - Enterprise Risk)

Shape the Future of Risk – Join Capco as a Non-Financial Risk Managing Principal / Director (Insurance Focus)

Location: UK – London or Edinburgh
Practice Area: Insurance, Risk, Financial Crime, Regulation, Finance
Type: Permanent

Intro

Capco is expanding its Non-Financial Risk (NFR) capabilities within the Insurance sector, and we’re looking for Director-level consultants who are passionate about helping insurers build resilience and adapt to fast-changing risk landscapes. Whether you’re advising on operational resilience, improving third-party risk management, or modernising enterprise risk frameworks for digital insurers, you’ll be helping shape the future of insurance risk management.

If you're excited about regulatory change, digital enablement, and driving large-scale transformation, this is the opportunity to make an industry-wide impact.

Why This Role

As a Non-Financial Risk Director with a focus on insurance clients, you will lead and shape transformation programmes across general insurance, life & pensions, and specialty markets. You’ll provide advisory support to CROs, COOs, and heads of risk to strengthen their governance, control environments, and operating models – all while staying ahead of regulatory scrutiny and emerging risk expectations (e.g. operational resilience, ESG, outsourcing, digital risks).

This is a great role for someone who thrives in a consulting environment, understands the unique dynamics of the insurance value chain, and wants to work on high-impact programmes that enhance the integrity and adaptability of the industry.

What You’ll Do

• Lead and deliver non-financial risk transformation programmes across the insurance sector.
• Advise insurers on operational risk, resilience, conduct risk, ESG, outsourcing/TPRM, and regulatory compliance.
• Design and enhance enterprise risk and control frameworks, ensuring alignment with regulatory and strategic objectives.
• Lead risk and controls optimisation initiatives, helping clients streamline and strengthen their control environments.
• Support client teams with gap analysis, risk assessments, control documentation, and remediation plans.
• Work with C-level stakeholders to embed effective NFR practices into insurance operations and strategic change.
• Drive thought leadership, proposition development, and new business growth in insurance risk consulting.
• Lead Capco delivery teams and contribute to talent development across the Risk & Insurance practices.

What We’re Looking For

• Experience in Enterprise or Operational Risk within the insurance industry (e.g. GI, Life, Lloyd’s, Reinsurance).
• Strong knowledge of insurance regulatory expectations (e.g. FCA, PRA, Solvency II, SMCR, ESG disclosures).
• Demonstrated expertise in building and optimising risk and control frameworks.
• Proven track record in risk transformation, remediation or assurance programmes.
• Ability to map, analyse, and enhance end-to-end risk processes across front, middle, and back office functions.
• Experience leading teams in a consulting or advisory setting, including project governance and delivery ownership.
• Expertise in proposition development, account management, and driving revenue growth.
• Proven ability to build trusted client relationships with risk and C-suite stakeholders.

Bonus Points For

• Experience supporting operational resilience frameworks in insurance firms.
• Ability to draft or review risk and control policies and procedures tailored for insurance operations.
• Familiarity with claims, underwriting, policy admin, or finance risk controls.
• Experience with risk data, MI/reporting tools, or risk system selection/implementation.
• Workshop facilitation and senior stakeholder management across business, risk, compliance, and audit.

Why Join Capco?

We’re a global consultancy with a challenger mindset. At Capco, you’ll work with ambitious, curious people delivering impactful change for top-tier clients. You’ll be empowered to shape your own success while influencing the future of insurance risk management. No bureaucracy. Just innovation, ownership, and opportunity.

We offer a competitive, people-first benefits package designed to support every aspect of your life:

• Core Benefits: Discretionary bonus, competitive pension, health insurance, life insurance and critical illness cover.
• Mental Health: Easy access to CareFirst, Unmind, Aviva consultations, and in-house first aiders.
• Family-Friendly: Maternity, adoption, shared parental leave, plus paid leave for sickness, pregnancy loss, fertility treatment, menopause, and bereavement.
• Family Care: 8 complimentary backup care sessions for emergency childcare or elder care.
• Holiday Flexibility: 5 weeks of annual leave with the option to buy or sell holiday days based on your needs.
• Continuous Learning:  Your growth, your way - minimum 40 Hours of Training Annually. Take your pick; workshops, certifications, e-learning.  Also, Business Coach assigned from Day One: Get one-on-one guidance to fast-track your goals and accelerate your development.
• Healthcare Access: Convenient online GP services.
• Extra Perks: Gympass (Wellhub), travel insurance, Tastecard, season ticket loans, Cycle to Work, and dental insurance.

Inclusion at Capco

We’re committed to a barrier-free, inclusive recruitment process. If you need adjustments at any stage, just let us know. We welcome applicants from all backgrounds and value what makes you, you. At Capco, #BeYourselfAtWork is how we grow, innovate, and lead.

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