Head of Financial Risk

Salary: £135,000 – £142,000 + up to 20% bonus per annum (deferred) + £8.3k car cash allowance

Working Location: Milton Keynes / hybrid.

Employment Type: Full Time, Permanent

As a leader of the Financial Risk division within the Risk Function, the primary goal is to provide insightful perspectives and assurance to the Chief Risk Officer (CRO) on a range of financial risks (insurance pricing, assets & liabilities management, reinsurance, underwriting) impacting NHBC, encompassing both current risks and emerging threats. This involves evaluating the accuracy of capital and other mechanisms in reflecting these risks.

What we offer:

* 27 days annual leave (plus bank holidays) and a holiday purchase scheme

* Generous pension scheme, with an employer contribution of up to 10.5%

* Life Assurance (x4 salary)

* Private medical insurance: fully funded couple cover

* Cycle to Work scheme

* Employee discounts platform, including gym discounts

* 24/7 employee assistance programme supporting your mental wellbeing

* 2 days volunteer leave

* Equalised maternity, paternity, adoption leave and pay for all new parents

* Payroll Giving, this allows you to make donations to your chosen charity through monthly pay deductions

What you’ll be doing:

The Head of Financial Risk plays a pivotal role by:

* Aligning the company's strategic objectives with the management of financial risks to support these goals.

* Evaluating the adequacy of financial risk modelling outputs to guide effective business decisions.

* Cultivating impactful relationships crucial for supporting these activities.

* Ensuring the financial risk framework remains pertinent, considering internal requirements and industry advancements.

The ideal candidate will have experience in:

* Develop and maintain a comprehensive financial risk strategy aligned with the holistic Enterprise Risk Management Framework, covering policies, procedures, risk appetite, stress and scenario testing, risk management information (MI), and risk governance.

* Provide assurance over Financial Risk activities within the 1st line through periodic in-depth reviews, investigations, and oversight.

* Establish, validate, and report risk MI to the CRO and relevant governance bodies.

* Contribute to the senior Risk leadership team, actively shaping an effective risk framework and culture.

* Collaborate with first-line functions to support, guide, and challenge the identification, management, and monitoring of financial risk, including areas such as insurance pricing, technical provisions, UK GAAP reserves, business planning, reinsurance, underwriting, investments, asset and liability management, liquidity management, and pension fund management.

* Review and validate the analysis of actual financial risk-related experiences, reporting implications to the CRO.

* Advise on risk mitigation strategies and their implementation across insurance risk, market risk, counterparty credit, credit, and liquidity risk, supporting the assessment of operational risk management.

* Support the development and integration of the organization's understanding and response to financial risks from climate change.

* Leverage subject matter expertise to lead the validation of the assessment of solvency capital, whether on a standard formula or economic capital basis.

REGULATORY ACCOUNTABILITIES: Key Function Holder

Over the course of employment, the role holder is required to abide by and uphold the high-level standards of behaviour set out by the FCA/PRA Conduct Rules, and to take ‘reasonable steps’ to prevent a breach of those rules occurring