Head of Investment and Solvency Risk

We are Direct Line Group - home to some of the country's best-known brands including Direct Line, Churchill, Privilege, Greenflag, and NIG. Our vision is to create a world where insurance is personal, inclusive, and a force for good, and our purpose is to help people carry on with their lives- giving them peace of mind now and in the future.

To help us deliver on this vision and purpose, we're transforming our systems, products, and services, and constantly innovating for the future - in the evolution to be a forward-thinking technology and data company. Servicing millions of customers each year, and employing over 10,000 employees, minimising risk for our customers and employees is so crucial to the success of DLG.

Aligned to the wider business transformation, our Risk and Compliance function has embarked on its own 2-year transformation journey with the aim to reposition and rebrand Risk through a re-energised vision and leadership team under our new Chief Risk Officer (CRO), as well as scaled up capabilities through investment in our people and in technology, while reviewing the framework, strategy, and overall risk appetite.

There's a lot to do here, and it's exciting. As our CRO says, we're on a journey to make DLG "Risk Positive". We're looking for people who are excited by the challenge of becoming a cutting-edge Risk function, and as a result we have a fantastic opportunity to join DLG as a Head of Investment and Solvency Risk!

The role:

Reporting into the Head of Insurance and Financial Risk, you will be part of the Financial Risk Leadership team- contributing towards delivering a refreshed vision and reinforcing the culture and values of DLG. As Head of Investment and Solvency Risk, you'll review and challenge all aspects of investment, credit and liquidity risk alongside capital management and reinsurance purchase, monitoring the macroeconomic and geopolitical environment to assess their impact on us as a business. You will also lead and provide assurance across all of the Financial Risk reporting.

As our Investment and Solvency II Risk expert, you'll prepare updates for our ExCo, Board, and relevant risk committees and be empowered to provide oversight and thoughtful challenge at our governance committees (eg Investment Risk forum, Reinsurance and Capital Working groups, etc.). With the same leadership approach, you will be tasked with developing, coaching and mentoring the wider Financial Risk team.

What else you'll be doing:

• Lead the second line oversight of Solvency Risk, including risk appetite and capital plans (excluding internal model validation)
• Provide risk SME to the business and to other financial risk teams, including input into: oversight of climate change risk management; stress & scenario testing; calibration of the internal capital model
• Review and update the relevant risk policies and framework to ensure adequacy for regulatory needs and business requirements (eg Solvency II)
• Develop and maintain the reporting, key risk indicators (KRIs) and management information (MI) for relevant risks
• Keep abreast of relevant industry and regulatory developments; seek external information on relevant issues which may affect DLG

What you'll need:

Actuarial or investment experience, coupled with experience in investment/economic risk and/or capital modelling/management in first- or second-line functions

Hours: 35 hours (Monday - Friday)

Home Working: We have a hybrid model with a virtual-first approach which means you would primarily work from home. The team currently meet 1 day a week in the Bromley or London office (near Monument). As long as you live a commutable distance from one of our offices in Leeds, Birmingham, Bristol, Bromley, or Glasgow and understand you might need to travel into Bromley/London upto 1x a week, that's great. We'll support you as best as we can!

Ways of Working

Our mixed model way of working offers a 'best of both worlds' approach combining the best parts of home and office-working, offering flexibility for everyone. How much you'll be in the office depends on your role, and we'll consider the flexible working options that work best for you.

Read our flexible working approach here .

Benefits

We recognise we wouldn't be where we are today without our colleagues, that's why we offer excellent benefits designed to suit your lifestyle:

• Generous 9% employer pension. Regardless of whether you contribute into your pension or not, DLG pay 9% into your pension (but you can take this as cash if you want!)
• Eligibility for annual performance bonus of up to 20%
• Generous holidays - 30 days (excluding the bank holidays). Plus, the option of buying or selling upto 5 days each year!
• 50% off home, motor and pet insurance
• Free travel insurance and Green Flag breakdown cover
• Electric Vehicle car scheme which allows all colleagues to lease a brand new electric or plug-in hybrid car in a tax efficient way
• Free private medical cover for you!
• Buy-as-you-earn share scheme
• Employee discounts and cashback

Being yourself

Direct Line Group is an equal opportunity employer, and we think diversity of background and thinking is a big strength in our people. We're delighted to feature as one of the UK's Top 50 Inclusive Employers and are committed to making our business an inclusive place to work, where everyone can be themselves and succeed in their careers.

We know you're more than a CV, and the things that make you, you, are what bring potential to our business. We recognise and embrace people that work in different ways so if you need any adjustments to our recruitment process, please speak to the recruitment team who will be happy to support you.