Risk Manager

Salary - Up to £70,000 (DOE) + annual bonus & benefits

Work Level - 2

Location – Reigate, Permanent

Office Attendance – Our hybrid working model gives you the best of both worlds - flexibility to work from home and valuable face‑to‑face time with colleagues. This role typically requires 1-2 days per week onsite.

Closing Date - Applications close on 9th September at 5pm

We're looking for an experienced Risk Manager to join our Risk & Compliance team, playing a key role in overseeing both our underwriting and broker relationships while ensuring alignment with Tesco plc's strategic objectives. Working closely with the Senior Insurance and Financial Risk Manager reporting into the Head of Financial Risk and Risk Framework, you'll help shape and embed our risk management framework, support ORSA activities, and provide robust oversight of financial, capital, reserving and insurance risks.

This is a highly visible role, combining quantitative analysis, stakeholder influence and risk challenge to help drive sound decision-making across Finance, Pricing and Underwriting.

• Planning and organising own workload daily to support the delivery of Finance and Underwriting work objectives.
• Working collaboratively with Risk & Compliance colleagues and first line colleagues primarily in Finance & Underwriting.
• Assist in the development of the organisation's Insurance & Financial risk appetite, tolerances and limits to ensure they are aligned to the company’s Strategy in order to inform business decision making.
• Assist with ORSA process activities such as stress testing and ORSA reporting.
• Assist in providing second line of defence oversight of and challenge to the business to identify, measure, manage, monitor and report on key Insurance & Financial risks, including regular RCSA assessments and validation of 1st line control testing.
• Support in drafting risk reporting to internal forums and other governance bodies.
• Contributing to stakeholder engagement through our business partner relationships.
• Supporting risk opinions on business nominated reviews or deep dives.
• Utilising our risk management system for monitoring and reporting purposes.
• Recommending changes to policies, processes, standards and practices.
• Helping develop procedures for a business area and monitoring their implementation in line with our risk management framework and regulatory requirements.

• Excellent communicator with the ability to utilise multi-mode communications that convey a clear understanding of the unique needs of different audiences.
• Ability to interact with stakeholders at all levels.
• Demonstrable track record in risk management, preferably in general insurance.
• Great understanding of risk assessment and data analysis.
• Be competent at review and report writing.
• Broad understanding of the regulatory framework within which UK general insurers operate.

• Comfortable working independently or as part of the wider team, planning and organising your own work in line with the annual risk plan.
• Depth of knowledge of the insurance sector; able to demonstrate an understanding of how business operates and key business processes
• Breadth of knowledge of risk management frameworks and methodology with detailed knowledge and experience of Solvency UK; understands current trends and UK regulation
• Knowledge of both the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) regulatory framework and compliance/governance requirements
• Experience in developing procedures and monitoring their implementation.
• An understanding of Finance and Underwriting Risks

We welcome applications from everyone. If you’re excited about this role but your experience doesn’t align perfectly with every requirement, we’d still love to hear from you.

• A generous pension, with up to 7.5% employer contribution, depending on what you put in.
• Private Medical Insurance (WL2+) and virtual GP Service for you and your family.
• Performance related annual bonus.
• 7.2 weeks holiday, with the opportunity to buy more.
• Colleague Clubcard discount (10-15% + second card…