Manager, Insurance Sector, Financial Services Risk Management

Last updated 7 minutes ago

The Covid-19 pandemic is creating seismic challenges around the world. Our purpose, to build a better working world, has never been more important. Life at EY has been transformed dramatically but our strong culture of flexible and remote working has helped EY people navigate new ways of working and remain connected with each other and our clients.

A better working world truly starts with the people at EY who are building it every day. Now more than ever we need talented people from diverse backgrounds to help our clients navigate the complexities of this Transformative Age: people with the passion, curiosity and drive to make things better.

The opportunity
  • Lead diverse, highly motivated and collaborative team
  • Be part of a high-performing, diverse team built with a supportive culture
  • Work with a team of collaborators, innovators and the brightest minds in the industry to develop and grow your industry insights
We are looking for a Manager within the Financial Services Risk Management team in our Sydney office. This role is offered on a full-time basis.

EY's Financial Services practice is a unique industry-focused business unit that provides a broad range of integrated services to financial institutions and other capital markets participants, including commercial banks, investment banks, asset managers, insurance and superannuation companies.

The EY Australian Insurance Risk team, works closely with the actuarial and other specialist risk teams, and are market leaders in all aspects of governance, regulatory and risk management, compliance, accountability, conduct and culture. Our clients are large multinationals, conglomerate groups and domestic insurers within the Life, General, health and government insurance sector. The team delivers sustainable benefits to our clients though enhancing business decisions using improved and effective risk management.

Our growing team of professionals come from a diverse background, all committed to being long term trusted advisors to our clients.

The insurance CRO agenda is evolving rapidly. As the outcome of the Royal Commission and other industry reviews are implemented, industry rationalisation takes place and business transformational activities are delivered, there is significant opportunity for our team to support our clients to clearly articulate their vision for better-practice enterprise risk management.

Our clients are managing wide-ranging risk transformation and regulatory change agendas along with steering the business through the COVID-19 impacts. These range from organisational culture and design, enhancement of risk appetites, flow of information and risk identification, and how companies respond to information received across the entire value chain including sales and distribution, product and operations, as well as claims handling. It is from here that companies can then be advised on specific elements of the framework in more detail, from modelling and managing specific risks to designing detailed management information, ultimately performing a full transformation programme for our clients, using all EY’s advisory services.

Our objective is to be market leading on the CRO agenda and the aim of this role is to continue to build and deliver that market leadership in this area.

Your key responsibilities
  • Design and review of end-to-end risk management frameworks
  • Design and review of governance and organisational structure
  • Support firms as they prepare for regulatory change including implementation of the product design and distribution obligations and the evolution of complaints management
  • Risk management culture and effectiveness design and review
  • Contribute to the articulation of EY findings, conclusions and recommendations in writing or verbally
  • Support the analysis of emerging issues, the creation of an EY point of view and the development of an EY proposition
  • Responsible for engagement planning, management, and leading small teams in insurance engagements
  • Lead EY work on-site on a day to day basis
  • Support bids and proposals for new client opportunities and grow existing valued relationships
  • Work effectively as a team member sharing responsibility, providing support and updating senior members on progress
  • Mentor staff and conduct performance reviews and contribute to performance feedback for staff
Skills and attributes for success
  • Typically, 5 years of General and/or Life Insurance risk experience at a major insurer, intermediary, Regulator or another Advisory firm
  • Knowledge and experience of risk management frameworks in insurance organisations
  • Up to date knowledge of the regulatory environment impacting insurers and other financial services organisations
  • Experience of managing and developing people through effectively supervising, coaching, and mentoring will be required
  • Strong academic background with a bachelor’s degree ideally business, actuarial or finance related supplemented ideally with a professional qualification
  • Excellent written and verbal communication skills for report writing and client presentations
  • Up to date knowledge of the regulatory environment impacting insurers and other financial services organisations
Ideally, you’ll also have
  • Strong project management experience ideally relating to risk projects in insurance businesses
  • Knowledge, or experience of management and regulatory activity on risk management related matters in insurance firms would be advantages
  • Client management skills and ability to build and develop networks and relationships
  • Ability to prioritise and challenge
  • Business consulting experience, with excellent client liaison and communication skills as well as commercial awareness
  • A proactive attitude and are seeking the opportunity for personal and professional growth