Senior Operational Risk Manager

JobTitle:Senior Operational Risk Manager

Division:General Management–Risk &Compliance

ReportsTo:Head ofOperational Risk

Key Relationships

First lineinternalstakeholders include Procurement and Vendor Management, IT, Data, Underwriters and Claims Managers. This includes supporting first line stakeholders in the management ofoperationalrisk andkeyTPRM-relatedregulatory relationshipsacross the group.Second and third linestakeholders include theRisk Management team (Insurance Riskand Enterprise Risk Management team members), Risk Management Senior Leadership Team, Chief Risk Officerandwider team members ofsecond and third linefunctions (ComplianceandInternal Audit).

Job Summary

The role supportsthe Head ofOperational Riskinthe oversight and management ofoperational risk matters across the group, with a particular focus on third party riskactivities.Itisalsoresponsible for providing independent second-line oversight, challenge, and assurance over the organisation’s management ofrisks, including thosearising from third parties, outsourced services, and strategic suppliers.

The rolehas primary responsibility for themanagement of operational risks acrossa number ofbusiness areas,including Delegated Authority, Facilities Management and Talent Management.It also has a particular focus on thedesign, maintenance, and oversight of thegroup’sthird party risk management framework, ensuringthatthird party risks are identified, assessed, monitored, and managed in line with the firm’s risk appetite, regulatory requirements, and operational resilience objectives.

Key Responsibilities

Risk Management Framework

• Provide independent oversight and effective challenge to first-line operational risk activities.
• Review,challengeandcontribute totheThirdPartyRisk Management (TPRM) framework,policiesand standards.
• Support the Head of Operational Risk infacilitatingregular Risk & Control Self Assessments (RCSAs) with first line risk owners and stakeholders, ensuring the assessments are performed and documented accordingly.
• Oversee the management of delegated authority risk within Underwriting, Claims and Operations as part of the TPRM framework.
• Ensure consistent risk tiering and materiality assessments for all third parties.
• Review and challenge residual risk assessments, risk acceptances, and exceptionsrelated toOperational Risk.
• Oversee integration ofThirdPartyRisk into operational resilience, technology, cyber, and data frameworks.
• Support the implementation and maintenance of a robust control environment with clear ownership and accountability within the business, ensuring control documentationremainsaccurateand current.
• Develop andmonitorkey risk indicators (KRIs) and support risk appetitemonitoring andmanagement.
• Work collaboratively with1stLineand Risk domain teams, supporting theembeddingof theOperational Risk andTPRM framework into the organisationandacrossthe 3 Lines ofDefence model.
• Act as theappropriate liaisonacross the 3 Lines of Defence model, including1stLinecolleagues, Risk Owners,Compliance and Internal Audit functions,Operational Resilience, and risk domainsincludingInformation Security and Sustainability.
• RiskOversight and Reporting
• Provide review, credible challenge and 2ndLine insights over 1stLinedecision-focused risk reporting,dashboards, andactivelyparticipatein any thematicdeep dives, with particular focus onThirdParty and broader risk areas.
• Provide independent risk opinions on emergingoperationalrisk themes.
• Investigate and reportoperationalrisk incidents, ensuring lessons learned are captured and implemented
• Support ORSA, scenario testing, and stress testing,in particularwhereThirdParty dependencies areclassed asmaterial.
• Identifysystemic risks and concentration vulnerabilities related to TPRM.
• Challenge the quality, completeness, and relevance of first-line reporting and MI, ensuring they support effective risk management and align with riskappetite.
• Regulatory and Governance Responsibilities
• Supportcompliance with regulatory expectations relating to third party,outsourcingand broader operationalrisks.
• Act as asecond-linepoint of contact for regulators and Internal Audit.
• Ensure clear governance, escalation, and documentation of third-party risk decisions.
• Promote clear ownership and accountability across the first line.
• Promote a culture of good conduct within theOperational Riskteambydemonstratingand communicating the expected levels of behaviour and integrity.

FCA conduct rules – individual conduct rules

• You must act with integrity;
• You must act with due care,skilland diligence;
• You must be open and cooperative with the FCA, PRA and other regulators;
• You must pay due regard to the interests of customers and treat them fairly; and
• You mustobserveproper standards of market conduct.

General

It is important that within all your interactions both internally and externally you adhere Beazley’s core values - Being Bold, Striving for Better, and Doing the Right Thing as theycontribute to an internal environment of teamwork and promote a positive brand image and experience to our external customers."We also expect Beazley employees to:

Comply withBeazley procedures, policies and regulations including the code of conduct.

Undertake training on Beazley policies and procedures as delivered by your line manager, thePeople & Sustainabilityor assurance teams (compliance, risk, internal audit) either directly, via e-learning or the learning management system.

Display business ethics that uphold the interests of all our customers.

Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs.

Comply withany specific responsibilities necessary for your role as outlined by your line manager, thePeople & Sustainabilityor assurance teams (compliance, risk, internal audit) and ensure you keep up to date with developments in these areas. This may include, amongst others, Beazley’s underwriting control standards, Beazley’s claims control standards, other Beazleystandardsand customer relationship management.

Carry outadditionalresponsibilities as individually notified, either through yourobjectivesor through the learning management system.  These may include membership of any Beazley committees or working groups.

Personal Specification

Essential Criteria

Degree level educatedoranequivalentcombination of education training and experience withthird-partyframeworks and industry standards;and/or relevant professional qualification (e.g., IRM International Certificate in Operational Risk, Practitioner Certificate in Information Management, etc.).

Proventhird partyriskexpertise, preferably withknowledge of relevant standards such as ISO 27001, ISO 22301, NIST, and COBIT;

Astrong understanding of theLloyd’sor wider companyinsurancemarket and frameworksis preferable;

Knowledgeand experienceofrisk management frameworks and tools.

Knowledge, Experience and Skills

Demonstrate effective understanding ofrelevantTPRMregulations foraglobalorganisationoperatingacross the UK, EU,USand Asia.

Understanding of the commercial drivers and dynamics affectingrisk decisions in the insurance sector, as well as operational and risk processesfoundwithinan international insurance group.

Ability to build strongpartneringrelationships with a wide range of stakeholders,in particularthe1stLine TPRMteam.

Ability to interact professionally and with credibilityand manage expectations of management and key stakeholders.

Ability to manage time, meet deadlines and prioritise.

Able to communicate effectively with others.

Ability tobuild and track remediation planswhere deficiencies areidentified.

Proficiencyin Microsoft 365 apps.

Experience of working in a global and fast paced business environment is essential.

Experience ofCommittee and Boardreporting.

Aptitude and Disposition

Application of risk-based judgement

Influencing and trusted advisor

Flexible

Energetic,enthusiasticand positive

Team player

Self-motivated with the ability to work autonomously

Proactive

• Strong prioritisation skills; ability to meet deadlines and manage stakeholders’ expectations
• Highest degree ofintegrity/discretion
• Strong written and verbal communication skills

Analytical

Attention to detail, with ability tosee bigger picture

Ability tochallenge,negotiate with,influenceand persuadeboth internal and external parties