Head of Operational Risk

Due to our continued growth and investment, we are seeking a Head of Operational Risk to join the group in this newly created role. You will manage all operational risk management activities across The Aventum Group. The successful candidate will proactively provide advice and guidance to the Business and provide risk mitigations where necessary.

The Aventum Group (AGL) is an independent, privately owned, debt-free global (re)insurance group operating across the underwriting and broking sectors. We currently employ around c400 staff and have 15 offices across four continents. Through our wholesale (Consilium) and MGA (Rokstone) platforms, AGL offers clients a range of specialist solutions in all lines of Property and Casualty (re)insurance and is writing more than $1.7n GWP.

Role Responsibilities

Strategy and Planning

Contribute to the development and execution of Aventum strategy, with particular responsibility for matching risks with capabilities and emerging business needs and prioritising risk activities to support the delivery of business goals in all markets where Aventum operates.

• Facilitate business improvement initiatives to align activities with business objectives.

• Support the Chief Risk Officer in shaping and delivering Risk Strategy to drive a positive culture and risk performance against the Business's strategic objectives.

• Build internal capability to support the Business in a scalable and efficient manner.

• Benchmarking of business performance against agreed objectives

• Services are delivered within time and budget

• Positive feedback

• Adequate risk management plans support strategy for the Business

• Ensure that Risk is involved in the development and implementation of major business initiatives

• Develop positive relationships within the Business

• Positive feedback from internal customers

• Promotion of open, transparent communication amongst the risk team and across the Business

Policy, Process, and Procedures

• Proactively identify and respond to business needs to ensure the Business

• Complies with all material legal and regulatory requirements

• Meets internal and external reporting needs

• Adheres to relevant standards and good practice

• Identifies and effectively controls the risks within the Business as necessary

• Adopts consistent processes and technologies where appropriate

• Contribute to the design and application of risk processes to promote best practices and optimise business performance

• Quality of risk management solutions

• Legal and regulatory compliance

• Risks anticipated and minimised to capability gaps

• Consistency of process/policy application (in alignment with best practice)

• Positive feedback from business leaders and employees

• Internal and external reporting needs are met

• Improvement of group-wide processes against business objectives’ benchmarks

Environmental Awareness/Customer Focus

• Actively engage and build strong relationships with the Business, particularly senior management, to influence and gain commitment to support the successful delivery of Risk Management services.

• Build and maintain strong relationships with key external business partners and suppliers to ensure sustainable access to quality services on sound commercial terms.

• Network externally and with Aventum risk and business teams to promote consistency of process and encourage sharing and adoption of best practices for risk management.

• Understand and assess external environmental factors/industry impact to account for these within the business plan.

• Quality and effectiveness of external providers

• Suppliers deliver the following contract, and issues are efficiently resolved.

• Employee engagement in risk management processes

• Adherence to Service Level Agreements

• Cost efficacy

• Positive feedback from internal  and external stakeholders, partners

• Processes adapted to deploy consistency, best practices, and business improvements

• Rigour deployed in selecting and maintaining external partners and supplier relationships/services

• Plans appropriately consider/anticipate external factors

• Aventum external profile is positively raised

Technical Performance

• Contribute to Aventum business performance by delivering the agreed risk strategies and goals to support business growth and profitability.

• Oversee risk management of financial Risk across the Business.

• Research good practices in Risk Management to improve business performance and identify future opportunities/solutions

• Lead the continuing active investigation, dissemination, and adoption of good practices, including research into outsourcing opportunities to deliver high-quality technical risk performance.

• Benchmarking of business performance against agreed objectives

• Services are delivered within time and budget

• Strategy for the Business is supported by adequate financial risk management oversight.

• Positive feedback from internal customers

• Ongoing improvement in ROI measures

People Management

• Assist in the development of all members of the Business in risk management disciplines and processes.

• Motivate and develop the team to consistently achieve the required performance standards.

• Support all team members' continuing personal and professional development to encourage and maintain the highest level of expertise.

• Employee retention

• The Business has the right people in the right place at the right time with the right capability.

• Skilled, capable, and competent team members

• A clear statement of roles and responsibilities within the team

• All direct reports have appropriate SMART objectives set

• All direct reports have a quality personal development plan

• The function is adequately staffed and developed to support a succession plan

• Timely completion of mid-year and end of year Performance reviews as a minimum standard

• Positive feedback on people management from the team and Business

• Regular one-to-one meetings with team members

Role Requirements

• Excellent working knowledge of internal and external trends in Risk Management

• Understanding of financial services business processes, strategic planning, and risk management issues

• Leading-edge knowledge of industry best practice

• Knowledge of appropriate regulatory/statutory frameworks and how they impact Aventum

• Excellent consultancy skills

• Negotiation skills (external suppliers)

• Coaching and mentoring skills

• Strong relationship management skills

• Strong facilitation skills

• Ability to negotiate, influence, and persuade across functional levels

• Excellent written and verbal communication skills

• Strong project management and planning skills

• Problem-solving and decision making

• Able to manage competing priorities

• Strong commercial acumen

• People management skills

• Budget management skills

• Substantial experience in risk management

• Proven experience in identifying and implementing risk initiatives

• Likely to be a degree-level

• Professionally qualified – CMI, CIPD Certificate in Training Practice/other relevant qualifications

• Experienced in managing and sourcing appropriate external service delivery partners

• Likely to have worked in a multinational financial services business