Risk Analyst - ERM
AIG's Enterprise Risk Management sets AIG's global corporate strategy for risk management and supports the front line risk takers in proactively managing risks in support of AIG's goal to be our clients most valued insurer. Our mission is to identify, quantify, and manage risks proactively developing a framework to maintain successful business operations and deliver sustainable, longterm profitability. ERM is made up of both corporate and business unit risk professionals working collaboratively as "one team" to improve decision-making through better analytics that create transparency, and focus on the mitigation of the top risks that could damage AIG's intrinsic value. ERM partners with risk professionals embedded in the businesses as well as other operations throughout AIG's key geographic modules to apply the risk policies (e.g. Operational Risk, Reinsurance) and ensure information flows seamlessly to the corporate level.
As a Risk Analyst reporting to the ERM AIG UK Risk Framework Manager, you will be responsible for the day-to-day delivery of processes supporting the ORSA, Risk Governance, Risk Register and risk reporting for AIG UK.
Accountabilities for the role
- Support the effective operation of the AIG UK risk-governance processes
- Provide assistance in the production of meeting packs
- Attending committees and taking minutes
- Support the execution of the ORSA process and documentation, drawing together contributions from different SMEs into a coherent document for approval by the Board
- Support the annual risk review of the business plan and timely delivery of the report for approval by the Board
- Help to coordinate reports from SMEs (including the Heads of Risk for Insurance, Credit, Market, Operational and Technology) for the relevant committees
- Ensure the risk-appetite framework is up-to-date and reflects current practices
- Support the maintenance and updates of the Risk Register
- Support AIG International Risk Management on various projects and initiatives as required e.g. rollout of the Risk Register platform
Support ERM's Stress-Testing Programme and Emerging Risks Exercise
- Support the delivery of Target Capital Stress Testing
- Support the delivery of Reverse Stress Testing
- Support the delivery of Business Plan Stress Testing
- Deliver ad-hoc stress tests as required for internal and external purposes e.g. Global AIG stresses, PRA GIST Stresses, EIOPA stress testing exercises
- Deliver support and guidance on current and emerging risk issues and contribute to the presentation of risk issues across the business
Other Key Deliverables
- Support the Operational Risk scenario calibration process including preparation of and attendance at scenario workshops
- Support the wider deliverables of the ERM team e.g. assisting with the Internal Model Validation processes; assisting with Internal Model Major-Model-Change process
Experience & Qualifications Required
- Honours degree or equivalent in a relevant subject
- Strong experience of preparing high-quality analyses
- Strong experience of drafting papers, with an ability to describe complex ideas in a simple way, including clear recommendations and conclusions
- A Financial Services/Regulated background
Knowledge and practical experience of:
- Developing and implementing ORSA processes
- Designing and deploying risk-management tools including MI, KRIs, Risk Reviews
- Committee administration and minute taking
- Operational Risk Management Processes
- Audit and compliance processes
- Financial statement disclosures
- Awareness of the uses and limitations of statistical approaches
- Awareness of capital modelling
All the above are advantageous as is a broader understanding of the non-life insurance sector, risk concepts and Solvency II requirements.
American International Group, Inc. (AIG) is a leading global insurance organization. Founded in 1919, today AIG member companies provide a wide range of property casualty insurance, life insurance, retirement products, and other financial services to customers in more than 80 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security. AIG common stock is listed on the New York Stock Exchange and the Tokyo Stock Exchange.
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