The Fidelis Partnership is a leading privately-owned, Bermuda-based Managing General Underwriter, which, through its subsidiaries, is a global underwriter of property, bespoke and specialty insurance and reinsurance products. The Fidelis Partnership is one of the largest Managing General Underwriters globally and its operations also include outwards reinsurance, claims handling, exposure management and portfolio analytics. The Fidelis Partnership also sponsors and incubates specialist MGAs through its Pine Walk platform. The Fidelis Partnership is separately owned and managed from the ownership and management of Fidelis Insurance Group.
Across product lines and geographies, we focus on three diversified pillars: reinsurance, specialty and bespoke solutions. We are truly diversified. Our long-standing partnerships with capital providers and quota share partners make us nimble. Our breadth of expertise and capabilities deliver outstanding market returns.
The role
Fidelis is searching for a talented, experienced Lloyd’s Risk Manager to join its expanding Risk Management team. The Lloyd’s Risk Manger will have the opportunity to work closely with senior business leaders to drive enhancements and execute the company’s global risk framework. This role will specialise on the Lloyd’s of London insurance capacity as well as the Pine Walk MGAs which are owned and managed by The Fidelis Partnership. This person will also have regular and direct access to the Global Chief Risk Officer, Executive Committee and Management Committee Members, Senior Underwriters, Syndicate Board Members, MGA CEOs and other functional leaders.
The role will offer significant growth potential as part of a team that covers the entirety of the rapidly growing Group. The individual will be expected to act independently and to manage elements of the Risk Management Framework with little day-to-day oversight. The Lloyd’s Risk Manager will be expected to leverage the work performed by other members of the Risk Management Team including the Risk Director, IT Risk Director and Risk Analyst.
The Lloyd’s Risk Manager is a senior position and will be expected to use their skills to help influence our nimble and innovative business. This role will provide unique insight and access into the world-class underwriting process along with all other key functions for the business.
The Lloyd’s Risk Manager will have to be highly organised, detail orientated and an effective stakeholder manager. This person will need to be a strong communicator (written and verbal) with a high level of emotional intelligence. We are looking for someone with significant experience in both Specialty or General Insurance and Risk Management but are open to candidates with the requisite skills and comparable experience in other sectors. Direct experience in the Lloyd’s of London Market and, in particular, with Managing Agencies would be highly valuable experience for this role.
The Lloyd’s Risk Manager will be instrumental in enhancing and embedding the ongoing monitoring of the Lloyd’s of London syndicates that will be managed by The Fidelis Partnership. One of these (Syndicate 3123) commenced operations on 1 July 2024 and is currently on track to underwrite over £500m in 2025.
The Risk Management team covers a comprehensive view of enterprise risks including strategic, operational, service, regulatory and financial risks. The Risk Management function also works closely with the Exposure, Pricing and Capital functions to oversee insurance risk for the carriers serviced by The Fidelis Partnership.
Key accountabilities
The Lloyd’s Risk Manager will take primary responsibility for the following:
Managing the quarterly risk review (QRR) and top risk review process with key function leaders and control owners contributing to TFP’s Lloyd’s operating model in TFP and with key Pine Walk MGA leaders
Drafting and contributing to regular risk reports to Boards, Board Committees and Management Committees across the Group, including the syndicate risk report and the Pine Walk MGA risk report
Monitor and mature the risk appetites for the active Lloyd’s of London Syndicates being manage by TFP
Coordinating impacts of business and operational activity impacting the syndicate risk registers as well as related stakeholders including Compliance, Internal Audit and SOX (carriers)
Taking the lead on syndicate-related Risk Incident responses
Developing a working understanding of new risks or controls
Facilitate the use of a new GRC system to streamline the use of the Group risk register (implemented in Q2 2024)
Manage the day-to-day activities of Risk Team members (currently, one Risk Analyst)
The Lloyd’s Risk Manager will support the Risk team in the following activities:
Demonstrating adherence to market expectations around ESG and Climate Change Risk
Support the CRO to Chair the Insurance Risk and Exposure Committee (IREC), including the development of strong oversight controls over the Exposure Management, Capital and Pricing functions
Working with functional leaders and business partners to identify, categorise and develop an effective strategy to manage Emerging Risks
Support the maintenance of the syndicate Risk Governance Framework (e.g., policies, procedures and frameworks), including annual reviews
Develop and delivery risk training where required
Maintain strong working relationship with risk functions in partner organisations
Supporting the business to keep wind-down (resolution) plans current and relevant
Key stakeholders include:
The Fidelis Partnership Boards and Management Committees
Key groups: Syndicate Executive Team (SET), Syndicate Steering Committee, IREC, Exposure Management, TFP Finance and TFP Underwriting
Key individuals: Active Underwriters,
The Fidelis Partnership functional leaders in London, Dublin, Bermuda, Brussels and Abu Dhabi
Asta Managing Agency as the managing agency for Syndicate 3123
Key service providers, including off-shore support in Noida, India
Heads of functions across The Fidelis Partnership
Skills & experience
University degree, preferably in Mathematics, Science or Economics
Strong preference for candidates with advanced degree or relevant industry qualifications
Strong academic background and mathematical acumen
Experience with managing risks around outsourcing of key business services
10+ years’ experience in the Insurance Risk sector (Risk Management, External Audit, Internal Audit)
Additional experience in the wider Insurance industry is a plus
Excellent Microsoft Office skills, in particular Microsoft Excel, PowerPoint and PowerBI
Experience working with Financial Regulators across multiple jurisdictions (e.g., PRA/FCA, CBI, BMA, FSRM)
Must be a strong critical thinker who can interrogate the data to ensure it makes sense and provide challenge when required
Must be able to balance working on detailed projects and maintaining the ability to step back to understand enterprise risks
Must be able to respond positively during busy periods through multi-tasking and effective prioritization against needs of business
Other
The Fidelis Partnership Ethos
At The Fidelis Partnership, we aim to be different while making a difference.
We set the standard for quality in our industry. Guided by our expertise, our clients can take unique and material risks with confidence.
Our approach is tailored and designed to deliver excellence for our clients. We are trailblazers, creating unique solutions in the (re)insurance space.
We are experts. Our brokers and clients value the depth of our knowledge and experience. We leverage state-of-the-art underwriting technology to be a market leader.
We believe sound ethics make for good business. We deliver value for our customers, investors and communities while actively avoid trading with industries that cause harm to people, the environment and animals.
We pride ourselves in creating a workplace that prizes execution, meritocracy, Diversity & Inclusion. Our people herald from countless backgrounds and are united by ambition and the unabashed desire to deliver excellence every day. We provide a competitive environment that helps people cultivate themselves professionally and personally and balance a rigorous workplace with a mindset that prioritises environmental and charitable activities in our communities worldwide.
Our ethos dictates our decisions and actions. It unites us as a team of experts and colleagues and provides us with a compass for ensuring we deliver our best to every stakeholder we serve.
Diversity, Equity & Inclusion
Diversity & Inclusion in the workplace
Insofar as possible, we aim to ensure the composition of our workforce reflects the make-up of the local community
We have specific programmes in all our offices to support diversity within the hiring process, e.g. internship and scholarship award programmes
This is a particular focus in Bermuda, where we engage actively with local organisations to source diverse talent and provide coaching/mentoring for underrepresented groups
We aim to maintain a focus on equal opportunities across all stages of hiring process
We measure and minimise the pay gap where possible.
Bring Your Whole Self to Work
Our vision is for a workplace culture where differences are valued and where diversity of background, experience and thought are welcomed. We want to create an environment where all employees, regardless of who they are, are given equal opportunities for career progression and enjoy fair reward from their and The Fidelis Partnership's successes. This will be driven by a workforce that embraces Diversity & Inclusion at every level, in every department across The Fidelis Partnership.
To ensure that all candidates have a fair opportunity to show their abilities during the recruitment process, adjustments may be required. If your physical or mental health or disability may necessitate an adjustment, please contact fidelis@avenciaconsulting.com to discuss. All information relating to your health or disability will be treated in accordance with our data protection policy.
