Manager, Line 1 Business Risk & Controls at Arch Insurance Group Inc.

Sydney, New South Wales, Australia -

Full Time

Start Date

Immediate

Expiry Date

08 Jan, 26

Salary

0.0

Posted On

10 Oct, 25

Experience

5 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Risk Management, Stakeholder Relationship, Communication, Interpersonal Skills, Organizational Skills, Negotiation Skills, Project Management, Planning, Decision Making, Operational Risk Management, Regulatory Compliance, Business Continuity, Governance, Root Cause Analysis, Control Testing, Service Provider Management

Industry

Insurance

Description

With a company culture rooted in collaboration, expertise and innovation, we aim to promote progress and inspire our clients, employees, investors and communities to achieve their greatest potential. Our work is the catalyst that helps others achieve their goals. In short, We Enable Possibility℠. JOB SUMMARY A Line 1 Business Risk and Controls Manager acts as a key point of contact within the business as the first line of defence ensuring the business operates within its defined risk appetite by developing, embedding, and maintaining robust business controls. The role is responsible for the effective identification, assessment, and management across business operations including any outsourced service providers. This position ensures business activities remain compliant with APRA’s prudential standards (CPS 230, CPS 234, CPS 220), ASIC obligations, and industry best practice, while fostering a strong risk culture and driving operational resilience across the organisation. Risk Identification and Assessment: Identify, assess, and manage operational risks in line with Arch’s Operational Risk Management Framework. Assess and monitor operational risks arising from service providers, ensuring that contracts and onboarding of service providers reflect APRA expectations under CPS 230. Ongoing development and maintenance of a comprehensive Governance, Risk, and Compliance register for operational risks, ensuring incidents, issues and control failures are tracked to closure. Risk Mitigation and Control: Partner with business leaders to develop and implement risk mitigation strategies and controls. Develop, implement, and maintain internal controls across operational functions. Oversee control effectiveness testing and ensure remediation of weaknesses. Undertake thematic reviews, root cause analysis, and ensure corrective actions are embedded. Regulatory and Compliance Alignment: Ensure business processes comply with APRA prudential standards, ASIC conduct obligations, privacy and consumer laws. Support regulatory reviews, audits, and board/committee reporting. Partner with compliance and legal teams to interpret regulatory changes and embed new obligations into operational processes. Material Service Providers and Outsourcing: Work closely with Material Service Provider internal business owners assisting with risk assessments, monitoring and compliance oversight. Ensure contracts, reporting, and performance management reflect CPS 230 requirements. Maintain the Service Provider Management Policy and Service Provider Register ensuring it is up to date and reflects APRA expectations. Business Continuity and Operational Resilience: Support the maintenance of the Business Impact Analysis including the review of critical operations under CPS 230. Develop, maintain, and test business continuity and disaster recovery plans Conduct scenario analysis and stress testing for critical operations in conjunction with BCP testing. Reporting and Governance: Prepare risk and control reports for senior management, risk committees, and the board as required. Coordinate ASIC reporting on complaints and ICA annual certification data collection. Escalate material risks, issues, and incidents promptly. Contribute to regulatory submissions and prudential reviews. Collaboration and Support: Promote a proactive risk culture, embedding accountability for risk within all business units. Collaborate with Arch’s Risk and Compliance function to ensure a coordinated approach to risk management and compliance assurance, including monitoring and reporting. Provide guidance and support to business units on risk management matters, including incident reporting and remediation. Prepare and present Operations specific risk training as required. Coordinate Operations internal and external audit requests Knowledge & Skills: Strong risk management background including meaningful knowledge of APRA prudential standards, with an ability to apply that understanding to the business. Demonstrated ability to deliver results in a fast-paced environment, under tight deadlines, or with competing objectives. Strong stakeholder relationship skills, with ability to build credibility amongst peers and customer-service/partnership oriented. Commercial mindset with a curiosity to understand Arch’s business and how this relates to risk management strategy and approach. Strong communication skills in written and verbal format. Strong interpersonal, organisational, and negotiation skills. Ability to function as member of a multi-disciplined, international team. Meaningful project management, planning, and decision-making experience. Education & Experience: Tertiary qualification required as well as a minimum 5 years’ experience, which must include risk management experience, with a preference for mortgage risk or insurance experience. Additional relevant qualifications, either through prior roles or externally, will also be taking into consideration. Practical experience implementing APRA prudential standards (CPS 230) or equivalent regulatory requirements. Working Conditions/Environment & Physical Demands: Sydney based. Standard office environment - The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodation will be made to enable qualified individuals with disabilities to perform the essential functions of the job. Attendance / Punctuality - Is consistently at work and on time. Willing to periodically work hours to accommodate other time zones. Ensure work responsibilities are allocated while absent. Hybrid work schedule. In-office days to be confirmed. Do you like solving complex business problems, working with talented colleagues and have an innovative mindset? Arch may be a great fit for you. If this job isn’t the right fit but you’re interested in working for Arch, create a job alert! Simply create an account and opt in to receive emails when we have job openings that meet your criteria. Join our talent community to share your preferences directly with Arch’s Talent Acquisition team. 15800 Arch LMI Pty Ltd Arch Capital Group Ltd. is a Bermuda-based specialty insurer that provides insurance, reinsurance and mortgage insurance on a worldwide basis. With a 20+-year track record of delivering results and a coveted position on the S&P 500 index, Arch is a great place to grow your career. Attention Job Seekers: Arch Capital Group Ltd. (Arch) and its affiliates take your interest in working here very seriously. Please be vigilant to fraudulent activity if you receive a communication or email asking you to submit any personal information. Do not send money or pass any details to someone suggesting they can provide employment with Arch. You should only enter your information into our official career portal. Please know the following about our interviewing and hiring practices. We never make job offers without a formal, in person, interview process. We never ask you to send money of any kind.

Responsibilities

The Line 1 Business Risk and Controls Manager ensures the business operates within its defined risk appetite by developing and maintaining robust business controls. This role involves identifying, assessing, and managing operational risks while ensuring compliance with regulatory standards.