SVP, Head of Group Corporate and Operational Risk / CRO Bermuda

Everest•Warren Township, NJ

1d•$305,000 - $410,000•Hybrid

About The Position

This role is a unique opportunity for a talented senior re/insurance risk professional to join Everest Group at a moment of a strategic pivot, materially contributing to shaping an enhanced globalized ERM framework that is effective, pragmatic and fit-for-purpose for Group Supervision by the BMA. Centrally positioned within Everest Group with high visibility to the Group's Executive Leadership Team, leading a small, global high-performing team and acting as Chief-of-Staff in close proximity to the Group CRO. A member of Everest's ERM Senior Leadership Team, reporting to the Group CRO. Leading the team of ERM that is responsible for the global ERM framework and governance as well as operational risk, emerging risk and third-party risk. Be the point person managing the Group CRO's responsibilities related to Group Legal Entities and Group Supervision, provide independent oversight of risk for Everest's Legal Entities in Bermuda, and act as ERM's senior relationship manager with the Bermuda Monetary Authority. Prepare and coordinate ERM's reporting to the Everest Group Executive Leadership Team as well as the Board of Directors, and act as process manager of the Enterprise Risk Committee and the Operational Risk Committee. Chief-of-Staff to the Group CRO for all strategic, administrative and leadership matters. Be the risk partner to the global Group Chief Operations Officer, covering the respective risk oversight responsibilities such as RCSAs, Operational Risk Heatmap and risk assessments of strategic initiatives. Coordinate the connection with other functions that carry 2nd line risk oversight responsibilities such as Legal & Compliance (for regulatory and sustainability risks), IT (for cyber risk) and Internal Audit (for control testing, including ICoFR/SOX).

Requirements

15 years of experience in insurance or reinsurance, of which a considerable part in Risk Management
Deep knowledge of international re/insurance regulatory demands, incl. Bermuda and BMA Group Supervision
Very good command of corporate governance best practices, especially related to Risk Management
Experience of attending Supervisory Colleges.
Technical understanding of standard solvency capital models and internal models
Strong grasp of operational risk framework best practices and experience in implementation
Proven effectiveness in leading a team across locations with complex internal stakeholder management
Ability to operate in close interaction with senior executive leadership and regulatory supervisors
Reliable execution skills with structured auditable processes while maintaining lean pragmatism
Strong collaborator in a matrix setup with coverage of a complex global organization
Excellent written and oral communication skills, as well as command of all pertinent software
Higher education in relevant fields and advanced degree FIA, FCAS, CFA or FRM
Being self-motivated and well organized, able to prioritize and manage a broad range of activities

Nice To Haves

Having acted as Principal Representative to the BMA a plus

Responsibilities

Define, establish and maintain optimized group-wide Enterprise Risk Management Governance, capturing all risk factors as well as clear accountabilities across the 1st, 2nd and 3rd line of defense.
Enhance the non-financial risk aspects of the Group Risk Appetite Framework and the Group ORSA/GSSA reporting.
Ensure effective management of the main executive-level risk committees, with direct ownership of the Group Operational Risk Committee and the reporting upwards from the Group Operational, Financial and Underwriting Risk Committees to the Group Enterprise Risk Committee.
Ensure complete coverage of all relevant topics in the quarterly reporting to the Group Board of Directors Risk Management Committee.
Establish and maintain the Group-wide framework for Operational Risk Management with a coherent approach top-down and bottom-up, covering Risk Culture, Risk Control Self Assessments, Operational Risk Incident Management and Operational Risk Heatmaps.
Manage the Operational Risk Committee.
Implement the global roll-out of 'DecisionFocus' as the overarching infrastructure back-bone for operational risk management across the Group and pursue continuous technological improvements to optimize efficiency.
Establish a reliable connection to other teams who execute 2nd line of defense risk oversight for specific non-financial risk factors such as Legal & Compliance for regulatory, sustainability and compliance risks, IT for Cyber risk and Internal Audit for control testing.
Advise Group and Legal Entity management teams and boards of directors on forward-looking risk trends and emerging risks.
Act as the main representative from Everest's Enterprise Risk Management in the day-to-day relationship with the Bermuda Monetary Authority (BMA).
Be the primary lead for ERM in the strategic project to establish full compliance with the Group Supervision requirements for Internationally Active Insurance Groups (IAIGs) defined in the IAIS' ComFrame.
Collaborate closely with the regulatory compliance team to help ensure Group-wide readiness and appropriate representation of Everest's practices at initial and ongoing regulatory interactions, such as Supervisory College meetings and onsite inspections.
Facilitate consistency across all Legal Entities.
Ensure appropriate integration of risk considerations and independent challenge into strategic planning and business initiative decision making.
Be responsible for developing, implementing, leading and maintaining the risk management frameworks for Everest's Legal Entities in Bermuda (a Class 4 & C entity, a second Class 4 entity, and a run-off Class 3A and C entity).
Ensure appropriateness and consistency of risk management strategies, governance and policies in line with Everest’s Group ERM Framework under Group Supervision by the BMA in Bermuda and support the Compliance Function to maintain and enhance regulatory compliance from a risk management perspective.
Continue development of a cohesive control framework and risk appetites in local entities.
Lead annual risk and solvency assessments (ORSA/CISSA) reporting and support regulatory inquiries and requests.
Lead the activities related to internal risk reporting with Legal Entity management and board as well as to Group ERM and Risk Committees.