Technical Specialist; cyber related), Operational Risk and Resilience

Insurance Supervision has responsibility for the supervision of over 500 UK Insurance companies and branches of international insurers. Our mission is to be the world's leading supervisor of the insurance sector, to fulfil our primary objective of UK insurers safety and soundness and policyholder protection. The availability and provision of insurance protection is crucial to the functioning of the economy by enabling individuals, households, and businesses to know they can be secure in good times and bad.

Our Directorate comprises seven divisions that work together in pursuit of our primary objectives; and to support competitive and dynamic markets in the sectors we regulate. We work with firms to improve their risk management, maintain adequate resilience, and seek to identify and respond to new and emerging risks.

We are outward looking and regularly engage with the industry; but we are committed to leveraging the benefits of our own diverse skills and experience to support the delivery of our mission and to be an enjoyable and fulfilling place to work. We pride ourselves on being a diverse Directorate, where colleagues feel valued and respected, allowing them to thrive in their roles.

The directorate comprises four supervisory divisions:
Retail and Commercial General Insurance, Life Groups, London Market and Retail Life. The Retail and Commercial General Insurance (RCGI) Division is home to the Operational Risk and Resilience Team (ORRT) who are looking to fill a technical specialist role with particular focus on cyber risk and resilience.

The ORRT technical specialist role is advertised at a time where Cyber Risk is rising not only on PRA/Bank priorities but also that of firm's own risk committees and boards, wider industries and UK Government. As such, the successful candidate will need to be a forward thinker, well-versed in broader Operational Risk and Resilience topics, with strong stakeholder management and engagement skills, and the ability to influence at senior and working levels.

You will provide technical and thought leadership whilst taking a practical approach to conducting thematic reviews, deep dives and risk assessments. These reviews would inform the supervisory strategy for the largest insurers in the UK. The role holder is expected to collaborate effectively with other supervisory teams, data and actuarial functions within the insurance directorate and with the wider PRA including the Supervisory Risk Specialist Directorate (SRS) and the Prudential Policy Directorate.

Whilst leading on Cyber for the ORRT, you will have line management responsibilities and ability to develop people's technical skills in this area.

You will be expected to engage and influence effectively senior management internally and at regulated firms; represent the Insurance Directorate with other regulatory authorities (e.g. FCA) and to deliver clear messages in industry events.

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• A good understanding of the PRA's objectives particularly with respect to insurance firms;
• Ability to manage and motivate an inclusive team. Management skills, gained from direct line management or via project work that demonstrates ability to support and develop staff and deliver good outcomes through the work of others.
• Excellent analytical and technical skills, the ability to analyse and interpret operational and risk and resilience information independently, exercise judgement and draw and present clearly reasoned conclusions.
• Breadth of understanding of the key issues facing firms with respect to cyber and ability to provide thought leadership when scoping and undertaking assurance review projects (including firm and sector/thematic reviews).
• Strong personal impact and credibility, the ability to communicate effectively, persuade and influence the senior management of a firm, and overseas regulators, to advance the PRA objectives;
• The ability to act independently and effectively lead a programme of work, delivering through others and providing thought leadership.
• Excellent stakeholder management skills, with experience of building and maintaining relationships…