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Due to ongoing expansion and an ambitious growth plan, Pinnacle Pet Group are looking for an experienced Risk Professional initially to join the UK team at Pinnacle Insurance PLC (“the Company”) with the potential for the role to expand to encompass the wider Pinnacle Pet Group (“the Group”) in Europe. Reporting to the General Counsel, you will lead the investigation, analysis and assessment of risk, and the design and implementation of strategies and processes to mitigate threats to the successful delivery of the organisation's corporate and business plans. The role provides oversight of and independent challenge to the risk assessments undertaken by the First Line of Defence.

KEY RESPONSIBILITIES

Overall responsibility for the ongoing development, review, application and maintenance of the second line of defence across the Company through areas of direct control and indirectly through other second line of defence activities and resources.

Performing all tasks and duties as required to discharge the requirements for the Chief Risk Officer Senior Management Function (SMF4) or as requested by the CEO and the Board of Directors.

Development and implementation of risk management processes and controls and any other tools, systems or processes deemed appropriate having regard to the increasing size and complexity of the Company’s business and risks to:

deliver adequate identification, reporting, escalation, management and mitigation of all risks affecting the business;

give the Board of Directors of the Company a clear view of the risks within individual areas of the business or affecting the business as a whole and information on the mitigation or management of those risks;

enable the identification and management of all operational risk incidents with oversight of all actions necessary for closure;

permit oversight and management of the closure of all internal and external audit recommendations;

Advising the CEO and the Board of Directors on the implications on the risk profile of the Company and associated risks of strategic, tactical and operational decisions.

Overall responsibility for the ORSA process and the delivery of the annual ORSA Report (together with any ad-hoc reports) and reporting the ORSA results to the CEO and the Board of Directors.

With assistance from the Actuarial function and with the approval of the Risk & Audit Committee and the Board, developing a risk appetite framework and defining and documenting the annual Risk Appetite Statement and risk tolerance limits for all risk categories. Continuous monitoring and reporting of the overall risk profile of the Company and compliance with the risk limits.

Management of the Business Risk & Controls department, including three staff and budget management activities

Delivering the PPG group corporate insurance programme.

Initially it is anticipated the scope of the role will be limited to the business and affairs of the Company but the scope is likely to widen to encompass identical roles and responsibilities for the wider PPG Group, including other Solvency II firms outside the UK.

OTHER RESPONSIBILITIES

Oversee the delivery of regular risk assessments and preparation of all documentation related to risk assessment, regulatory watch and reviews of standard operating procedures to ensure that recommended improvements, including all Audit recommendations, are fully implemented.

Attend (or delegate) and provide input as required to the Risk & Audit Committee, Executive Risk and Control Committee, Investment & Capital Committee, Underwriting Credit and ALM Risks Committee, Customer & Conduct Committee, Cyber & IT Risk Committee and Vendor Risk Management Forum.

Regular reporting to the Risk and Audit Committee, CEO and other committees and forums as appropriate on the key risks facing the business from time to time, the existing mitigants and any mitigating action ongoing or anticipated.

Through the use of operational risk management tools and involvement in the work of committees and forums established for the oversight and management of all aspects of the risk profile of the Company, review the identified risks and their assessment and advise on the adequacy of the actions in place or anticipated to address such risks.

Ongoing review and updates to policies and procedures in accordance with Solvency II regulations.

Monitoring and ensuring on an ongoing basis the Company’s compliance with the PRA rulebook and relevant PRA guidance and requirements.

Driving a greater understanding and appreciation of risk at all levels of the Company and the implications of failure to respond appropriately to threats as they emerge.

Providing oversight and challenge to product development processes, in particular in assessment of the risks connected with a new product features.

Creating a consistent and high level of risk mitigation practice across all areas of the organisation.

Supporting the production and maintenance of the risk management policies applicable for ongoing risk management, including those relating to underwriting and reserving, asset-liability management, investments, liquidity and concentration risk management, operational risk management and reinsurance.

Implementing processes and procedures for the control of risks within the tolerances established in the risk appetite statement and monitoring the circumstances that would trigger an ad-hoc ORSA.

Providing content for the SFCR, RSR and Annual Accounts as requested by the Finance Department and having oversight of, and challenge to, the solvency calculations (SCR, MCR) monitoring the circumstances that would trigger an ad-hoc SCR calculation (in case of significant change in the risk profile).

Managing financial risks from climate change with responsibility for the management of the Governance; risk management; scenario analysis and disclosure of financial risks from climate change.

REQUIRED SKILLS & EXPERIENCE

ESSENTIAL

Previous experience holder of SMF4 and/or other SMF or Approved Person role in the UK.

+10 years experience of working at a senior management level within a risk management function.

+10 years experience of working in Enterprise risk or Operational Risk.

Experience of working in a financial services regulated environment and direct engagement with PRA and FCA.

DESIRABLE

Business level proficiency in one or more of French, German or Dutch.

Experience of engagement with BaFin in Germany

Experience of working in Financial services and / or Non-Life Insurance sector.

Experience of working with intermediaries/distribution partners.

Experience and understanding of Data Privacy regulations (GDPR, PECR).

REQUIRED QUALIFICATIONS

Recognised Risk Management qualification and / or a recognised professional qualification e.g. ACA, ACMA, ACCA, IIA, CIP, LLP.

ABOUT US

Pinnacle Insurance is a Top 5 UK Pet insurer with a clear ambition to be the leading Pet healthcare and insurance services partner in the UK.

We are part of the Pinnacle Pet Group (PPG) – a pan European fully integrated pet insurance and health services platform, which was set up as a joint venture between JAB Holding Company and BNP Paribas Cardif. PPG’s ambition is to create the leading pet insurance and health services platform globally.

Over the last two years, through the success of our partnership strategy, (which includes Sainsbury’s Bank, PDSA and Post Office), the UK business has doubled in size. PPG have ambitious growth plans through UK and European partnerships, and own brand and a clear vision for the development of our customer and partner proposition.

Not only do we have big ambitions for innovation, customer experience and growth, we also pride ourselves on being a great place to work. We know not everyone works best confined to the four walls of the office, which is why we embrace hybrid working. Our teams come together to collaborate in the office when needed, but we also have the space and the freedom to work from home. We believe people should have the best of both worlds to foster creativity, social connections, shared learning autonomy and productivity. It helps support a good work-life balance, and it’s the way we want to be.

We are an equal opportunities employer, committed to eliminating discrimination in the workplace and to promoting equal opportunities for all staff.

We are proud of our diversity, which is one of our core strengths. We want all of our people to thrive in an environment where bringing a different perspective is welcomed. We reflect the broad diversity of the customers we serve and we embrace an inclusive working environment.

If you want to work as part of a team, building and delivering something exceptional, which will make a difference to pet owners and their pets, and if you want to have fun in the process, we would love to hear from you.