Job Title:
Head of Risk Reporting to:
Chief Risk Officer and dotted-line to Chief
Financial Officer
Location: JOH Hybrid (1 day in the office) Department: Risk
Job Level: 1
Main Objective:
The purpose of the role is to lead the in-house Risk function at Personal Group, ensuring effectiveness of the
Group’s Risk Management System. The role enables the Chief Risk Officer (CRO) to discharge SMF4
responsibilities and provides clear, proportionate second line oversight across enterprise, prudential, operational
and financial reporting risks.
The role holder manages the in-house Risk Manager (operational risk focused), collaborates closely with Finance,
and works in partnership with the senior manager responsible for Compliance.
The role reports to the CRO with a dotted reporting line to the CFO for non-regulatory Risk matters.
Knowledge, experience and qualifications required in the role:
• Broad risk knowledge, gained through experience operating at a senior management level within a
regulated environment (financial services/general insurance experience would be preferable but is not
essential). OR Strong insurance risk management experience with deep knowledge of Solvency II,
prudential risk and ORSA.
• Extensive senior risk experience, covering both financial and non-financial risks, with demonstrated ability
to build, enhance and embed risk frameworks and policies.
• Experience of analysing information and data, identifying trends and recommending action/solutions.
• Experience partnering with Finance on controls, reporting and prudential processes.
• Experience with operational resilience, cyber and information security oversight (highly desirable)
• Understanding of actuarial concepts, financial reporting or capital modelling (desirable)
• Background in scaling, uplifting or maturing Risk Management Framework in developing environments
(desirable).
• Previous experience in operational areas (not solely in risk roles) (desirable).
• Degree educated or equivalent through experience
Skills and Personal Characteristics required in the role:
• Strong stakeholder management expertise, with the proven ability to challenge and influence at all levels.
• Influential and creative thinker, confident to propose and debate solutions with senior stakeholders.
• Strong analytical and problem-solving skills, with experience of analysing information and data,
identifying trends, actions & solutions.
• Excellent written, verbal and presentation skills & to be able to effectively communicate at all levels
within the business.
• Resilient and versatile, with the ability to adapt quickly to the changing needs of a rapidly developing
business.
• Ability to perform well under pressure and manage conflicting priorities.
• High moral standards and commitment to both Company values and regulatory guidance with the selfconfidence
to follow through.
Management Responsibilities:
Line Management of the Risk team, ensuring:
• The departmental objectives are reflected in individual objectives set.
• Work performance is reviewed regularly, and feedback given during 1 2 1’s.
• Individuals are managed in terms of performance, conduct and attendance as required.
• Team members receive continuous professional development, ensuring skills or knowledge gaps are
identified and ongoing training is provided.
• Team members adhere to mandatory and professional training requirements.
• Team members are motivated and engaged.
• The team are delivering a proactive, value add service to the business.
Responsibilities and accountabilities within the role:
1. Risk Management System Leadership
• Lead the design, implementation and operation of the firm’s Risk Management System, ensuring risks are
systematically identified, assessed, monitored, and managed.
• Maintain and further develop the Risk Management Framework (RMF), including strategy, policies, risk
processes, and reporting standards.
• Embed risk management across the organisation, ensuring alignment from operational to strategic levels.
2. Risk Appetite, Policies & Governance
• Maintain, review and enhance the Risk Policy and associated c.20 sub policies under an agreed governance
cycle.
• Ensure risk appetite, limits, tolerances and escalation routes are clearly articulated, well understood, and
consistently applied.
• Provide robust second line challenge to first-line risk owners, including ongoing monitoring of emerging risks.
• Drive strong governance by ensuring policies are proportionate, aligned with business needs and compliant
with regulatory expectations.
3. Prudential Risk & ORSA Oversight
• Support the CRO in leading the ORSA process, ensuring high quality inputs, stress tests, scenarios,
documentation and clear linkage to strategy.
• Strengthen prudential risk insight by monitoring capital drivers, solvency developments and exposure to
regulatory change (e.g., PRA CPs, supervisory statements, thematic letters).
• Oversee delivery of prudential regulatory projects (e.g., climate impact assessments, solvent exit analysis).
• Promote alignment between ORSA outputs, management actions and solvency-related decision making.
4. Finance & Financial Reporting Risk Oversight
• Provide independent second line oversight of Finance, including risks related to financial reporting, controls
and regulatory submissions.
• Support the development, embedding and ongoing evaluation of the Financial Reporting Control Framework
(FRCF) across GAAP, IFRS, Solvency II and other reporting streams.
• Coordinate with Finance on SCR calculations, QRTs, SFCR, and other prudential reporting outputs.
5. Operational Risk & Business Resilience
• Supervise the Risk Manager across operational risk management activities, including risk assessments, event
capture, KRIs and thematic reviews.
• Oversee development and maturation of Business Resilience, Information Security, and cyber risk
frameworks.
• Ensure readiness for evolving requirements such as PRA CP17/24 on Operational Resilience, including third
party and technology risk exposures.
6. Risk Reporting & Board Support
• Deliver clear, independent, forward looking risk reporting to senior management, the Risk & Compliance
Committee (RCC), and the Board via the CRO.
• Ensure high-quality reporting flow, consistency across governance fora, and clear articulation of risk insights,
emerging issues and trends.
7. Compliance Integration
• Work closely with the Head of Compliance & General Counsel (SMF16) to ensure coordinated oversight of risk
and compliance agendas, including shared themes, joint issues, and aligned governance expectations.
8. Third-Line & External Stakeholder Interaction
• Support Internal Audit with risk based input into planning, audit execution and response management.
• Contribute to regulatory interactions, information requests and supervisory engagement as directed by the
CRO.
• Provide risk oversight of technical actuarial areas where appropriate (e.g., technical provisions, underwriting,
reinsurance).
9. Ongoing Enterprise Wide Responsibilities
• Maintain and evolve risk assessments, registers, KRIs and thematic reviews.
• Provide strategic risk insights to the CRO and Board.
• Strengthen risk culture, first line accountability and cross functional collaboration.
• Maintain ongoing development of operational risk and resilience frameworks.
• Ensure second-line challenge relating to actuarial independence, governance boundaries and control
environments.
• Chair the senior leadership team quarterly Risk Forum in those quarters that the CRO does not attend,
ensuring current and emerging business and operational risks are reviewed and discussed, and appropriate
mitigating controls and actions are agreed and documented.
• Ensure compliance with employment legislation, FCA principles, Consumer Duty, “Treating Customers
Fairly” (TCF) & other relevant legislative requirements.
People Management: Y Line management of the Risk team
Budget Management: N
Declan Stark
