Chief Risk Officer

Zurich is one of the world’s leading insurance groups, and one of the few to operate on a global basis. Our mission is to help our customers understand and protect themselves from risk. With about 53,000 employees serving customers in more than 170 countries, we aspire to become the best global insurer as measured by our shareholders, customers and employees. We help individuals, small and medium sized companies and global corporations around the world understand and protect themselves from risk by offering a wide range of insurance products, solutions and advisory services.

Your role

In this role you will be accountable as Chief Risk Officer for Zurich EuroLife (ZEL), with 2nd line of defense responsibility for risk assessments, advisory and control of all material risks for the entity, and for the implementation of Group Risk Management (GRM) frameworks. In addition, you will provide  support, review and challenge to the first line of defense.

You support ZEL management in its task of identifying risks at an early stage, recognizing them, initiating management measures or consciously taking risks. You enable the management to be properly informed about the risk profile through risk reporting and contribute to informed decision-making. In addition, you are responsible for risk-related regulatory reporting and support management in complying with regulatory and legal requirements.

Key Accountabilities

• Lead the ZEL Risk function including the organization of the ZEL Risk and Control Committee (RCC)
• Drive risk awareness across the ZEL organization
• Assist senior management in identifying, analysing and mitigating risks to the ZEL business from both a quantitative and qualitative perspective using the Zurich Group’s framework for identifying and managing risk
• Be responsible for ensuring that the ZEL Risk and Control Framework is aligned with Zurich Group policies
• Interact with the CAA to cover all risk-related topics and deliverables in line with regulatory requirements (e.g., Solvency II)
• Advise management on regulatory standards/regulations, including risk-related reporting to management, and preparation of risk-related regulatory reports (SII, ORSA, etc.)
• Take an active role in collaborating with the 1st line on a timely basis to review, provide guidance, updates, risk advice or challenge on business activities (e.g., financial planning, project delivery).
• Collect and prepare relevant information, data and presentations independently for discussion with GRM and with the 1st line.
• Support the 1st line to adopt GRM tools, templates and methodologies, also providing a consistent, reliable and timely delivery of risk information to relevant decision-making and governance bodies.
• Governance: Contribute to the production of policies and other governance documents, ensuring that Zurich Risk Policy is recognized as the foundation for all risk management activities across the Unit.
• Control Framework: Support business managers in the application of the ZRP policy manuals and in the implementation and maintenance of the mandatory ICIF controls.
• Risk Appetite: Reviewing and challenging the risk appetite and tolerance for areas of responsibility.
• Risk Identification and Assessment (Total Risk Profiling): Support the business managers in early identification of risks and advise on risk mitigating actions considering the agreed risk appetite.
• Risk Response: Support the review and challenge of proposed 1st line risk responses.
• Monitoring: Assist and ensure that risk monitoring activities are properly undertaken.
• Assurance: Perform and oversee assurance activities, validate findings and observations with relevant stakeholders and documents results.

• Reporting: Provide consistent, reliable and timely delivery of ‘360° view’ risk report for relevant committees and other governance bodies, leading content development and agenda for the Risk Oversight Committee.

• Training: Contribute to the development and facilitation of training and training materials tostakeholders,promotinga disciplined risk culture.

Qualifications

• At least 15 years of professional experience working with risk-related matters in a financial services industry. Expertise in actuarial life risk and the management of operational risk
• Understanding of the insurance industry including its current and future development and challenges
• Expertise managing Regulatory topics and Board of directors
• Track record of leading effectively through change, with experience of implementing digital initiatives of particular merit
• Demonstrated experience and knowledge of Solvency II and other regulatory frameworks relevant to ZEL, and of interaction with regulatory / supervisory authorities
• Academic degree in actuarial, risk management economics, law or other relevant subject
• Fluent in English, both from a spoken and written perspective is required
• Soft skills
  • Entrepreneurial view
  • Resilience
  • Cross-functional Empathy & Communication
  • Behavioral & Agile Learning
  • Strategic Stakeholder Influence

We offer

• Full-time position in our friendly and motivated team in Luxembourg
• International working environment
• Compensation packages to high standard market rates
• A high standard Group health insurance & Pension plan
• Flexible working policy to support your work life balance
• Career path and opportunities within Zurich Group
• Executive Managers whose doors are always open
• A work model based on transparency and recognition
• Training & Development for upskilling your future experience