Senior Appointments: Head of Market Finance | Lloyd’s | London

Lloyds london small logoHead of Market Finance  | Competitive salary and benefits package | London  | Permanent

All leadership roles within Lloyd’s have an integral part to play in the achievement of the Strategy and Vision 2025 and will contribute overtly to:

Lloyd’s is becoming a brand that is globally admired and recognised and respected for its reputation as the world’s specialist centre for (re)insurance. Lloyd’s will be known around the world for its integrity and will be a place where talented, diverse and socially responsible employees feel proud to work. This leadership role will practice and promote the principles of inclusive leadership and respect the value of diversity.

The function relating to this role has been designated by Lloyd’s as a key function under regulatory requirements prescribed by the PRA and FCA as part of the Senior Insurance Managers regime. As a consequence, the holder of this role is a key function performer and is required to meet prescribed FCA and PRA conduct standards which will be separately provided to the holder for information.

About Us

Lloyd’s is the world’s leading insurance market providing specialist insurance services in over 200 countries and territories globally. Lloyd’s is a society of members, both corporate and individual, who underwrite in syndicates on whose behalf professional underwriters accept risk. The Corporation of Lloyd’s oversees and provides services to support the market and promotes Lloyd’s around the world.

The Lloyd’s name is known and trusted and we have built our reputation on strength, stability and expertise. Backed by excellent financial ratings, the Lloyd’s market has consistently explored and tackled the world’s most unusual and complex risks – from space travel to cyber terrorism. At our heart are our talented people working collaborative to take our reputation further still.

This is an exciting time; the regulatory environment is in constant flux, with significant initiative being developed globally and at individual country level. Concurrently Lloyd’s is working towards realising its Vision 2025 strategy, to internationalise the market and position it to take advantage of the opportunities presented by the world’s developing economies.

The Role

To lead the activities of the Market Finance department, responsible for reporting to the Director of Finance on Lloyd’s solvency and capital adequacy, the results of the 100 syndicates trading at Lloyd’s and accounting and reserving in key overseas territories.

The role holder is expected to contribute to an open and transparent culture of risk management and demonstrate a strong awareness of the risks that should be managed within the responsibilities of the role. The role holder is also expected to deliver responsibilities in line with all relevant risk appetites, policies, reporting and when applicable, membership on or input to Lloyd’s risk committees.

What Will You Do

  • Provide support to strategic initiatives, particularly in respect of capital, market oversight and global market access
  • Ensure Lloyd’s meets its financial reporting obligations in the UK with regards to the Lloyd’s Market’s results, including:
  • Annual and Interim Report publishing audited results of all syndicates, the capital deposited by all members and the Central Fund
  • Pro Forma Financial Statements and Market Performance Review commenting on the results, and the Aggregate Accounts (total of all syndicates’ results)
  • Pillar 3 returns annually and quarterly under Solvency II
  • Summarise and present the market’s results and key drivers to Board, regulators, analysts and rating agencies
  • Monitor member level solvency on a continuous basis and manage timing and amounts of additional capital and release of excess capital
  • Review capital efficiency and sufficiency across the chain of security, including capital uplift and level of Central Fund Contributions. Report to key stakeholders including the PRA and the rating agencies.
  • Contribute to market oversight as member of the Capital & Planning Group reviewing and approving all syndicate business plans and capital requirements
  • Provide centralised regulatory reporting and ensure relevant regulatory and legislative filings are made to key overseas regulators, including:
  • US Reinsurance (CRTF) and Surplus Lines (SLTF), TRIA and annual NAIC returns
  • Canadian Trust Fund
    HK, Australia, South Africa etc.
  • Provide support to International Regulatory Affairs and Global Markets on funding strategy for target licences & the defence of existing licences
  • Responsible for the development and advancement of accounting policy at Lloyd’s.
  • To attract and retain the best diverse talent through a high performance culture, best practice and inspirational leadership

 

TO APPLY FOR THIS ROLE, CLICK HERE

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