Senior Manager – Oversight Evolution

at  Lloyds of London

Lloyd’s is the world’s leading insurance and reinsurance marketplace. We share the collective intelligence and risk sharing expertise of the market’s brightest minds, working together for a braver world.
Our role is to inspire courage, so tomorrow’s progress isn’t limited by today’s risks.
Our shared values: we are brave; we are stronger together; we do the right thing; guide what we do and how we act. If you share our values and our passion to build a future that’s more sustainable, resilient and inclusive, you’ll find a home at Lloyd’s – build a braver future with us.
Newly created role where you will be responsible for ensuring the continuous improvement and evolution of the Principles Based Oversight (PBO) framework. Working within the Oversight Framework Team, you will be focused on the long-term resilience and relevance of the oversight framework, and responsible for its evolution, continual improvement, and embedding within Lloyd’s. You will also be responsible for identifying opportunities for innovation and improvement, and ensuring that the framework remains effective and relevant in response to changes in the external environment.
A pro-active and solutions driven individual, this is an opportunity to drive positive change for Lloyds and the market and as part of this your key accountabilities will include:

Oversight Framework Effectiveness Review:

• Lead the annual formal review of the oversight framework’s effectiveness.
• Engage with SME oversight teams and utilise insights from key oversight decisions throughout the year to inform the review.
• Prepare a comprehensive annual report for the Market Oversight Group (MOG), including opinions on the achievement of oversight objectives, assessment of skills and capabilities, and proposed actions for future enhancements.

Implementation of Review Recommendations:

• Drive the implementation of enhancements arising from the Oversight Framework Effectiveness Review.
• Monitor progress and ensure timely completion of improvement initiatives and report on these to MOG.

Framework Change Management:

• Own and manage the process for implementing changes to the oversight framework.
• Proactively maintain and prioritise a pipeline of proposed changes, ensuring alignment with oversight objectives.
• Engage regularly with Subject Matter Expert (SME) oversight teams to gather input and feedback on potential changes.

Alignment of changes with Oversight Objectives:

• Ensure that all changes to the oversight framework align with and support the achievement of Lloyd’s Oversight Objectives.
• Conduct impact assessments to determine the implications of proposed changes on existing oversight processes.

Collaboration and Implementation of changes to oversight:

• Work collaboratively with SME oversight teams to implement approved changes effectively and efficiently.
• Facilitate workshops and training sessions to support the adoption of new oversight practices.

Documentation and Alignment:

• Maintain oversight framework documentation, including the primary framework document, Lloyd’s Oversight Operating Model (the LOOM), and Principle-specific Oversight Approach documents.
• Ensure all documents are updated to reflect current practices and any recent changes.

Innovation and Best Practices:

• Identify and integrate industry best practices and innovations into the oversight framework.
• Lead initiatives to explore new methodologies that can enhance Lloyd’s oversight effectiveness.

Stakeholder Engagement and Communication:

• Serve as a primary point of contact for stakeholders regarding framework evolution and changes.
• Develop and maintain a communication plan to keep all relevant parties informed about changes, progress, and outcomes related to the oversight framework.

Strategic Planning:

• Contribute to the strategic planning process for the Oversight Framework Team, aligning team goals with Lloyd’s overall strategy.
• Develop long-term plans for the evolution of the oversight framework, ensuring alignment with future needs as the Lloyd’s market grows and the risk profile evolves.

Regulatory Engagement:

• Actively engage with regulators to discuss and align on the oversight framework, ensuring it meets all regulatory requirements and expectations.
• Communicate, as necessary, any major changes or enhancements to the framework to relevant regulators, addressing any questions or concerns they may have.
• Stay informed about relevant regulatory developments and trends, ensuring the oversight framework remains compliant and responsive to evolving regulatory standards.

Risk and Controls Assessment:

• Contribute to the Lloyd’s Risk and Controls Self-Assessment (RCSA).
• Evaluate the current status of the oversight framework, assess the adequacy of controls, and identify areas for enhancement.

Essential to the role is a good knowledge of:

• Risk management and corporate governance
• Commercial drivers of profit and loss for insurance/reinsurance businesses
• Factors that materially affect risk and may ultimately cause the failure of an insurance/reinsurance businesses
• Regulatory expectations in regard to governance and risk management
• Factors that drive strong governance, developing and executing a successful strategy and pitfalls to avoid,
• Business process and systems change tools and best practice principles
• Lloyd’s market practices, operations and financial structure

With demonstrable skills in the following:

Leadership and Management:

• Strong leadership skills with a proven ability to manage and inspire a team.
• Excellent project management skills, with the ability to manage multiple priorities and deadlines.

Communication and Collaboration:

• Outstanding communication skills, both written and verbal, with the ability to engage effectively with stakeholders at all levels.
• Proven ability to build and maintain strong working relationships across different teams and departments.

Analytical and Strategic Thinking:

• Strong analytical skills with the ability to assess complex information and make informed decisions.
• Strategic thinker who can maintain a strategic perspective on overall effectiveness of oversight framework.

Change Management:

• Experience in managing and implementing change within a large, complex organisation.
• Ability to drive continuous improvement and foster a culture of innovation.

• Risk management and corporate governance
• Commercial drivers of profit and loss for insurance/reinsurance businesses
• Factors that materially affect risk and may ultimately cause the failure of an insurance/reinsurance businesses
• Regulatory expectations in regard to governance and risk management
• Factors that drive strong governance, developing and executing a successful strategy and pitfalls to avoid,
• Business process and systems change tools and best practice principles
• Lloyd’s market practices, operations and financial structur