Operational Resilience Incident and Third-Party Lead 12 month FTC - Chaucer Group - #2087724

Job Profile Summary

Responsible for Operational Resilience Incident Reporting across Chaucer Group. Lead the Operational Resilience Third Party due diligence and monitoring activities, including the creation of Exit Plans for all material third parties.

Job Description

1. Maintain Chaucer’s Operational Resilience Incident Management procedures, Incident Log and Near Miss Register.
2. Assess incidents through an Operational Resilience lense to understand the impact on the delivery of Chaucer’s important business services and whether the operational incident poses a risk to Chaucer’s objectives.
3. Co-ordinate incidents when they occur, liaise with stakeholders and follow governance steps for escalation.
4. Monitor Operational Resilience regulatory incident thresholds (FCA, PRA, CBI, DORA MAS) and be responsible for gathering the relevant information to report, if required. Maintain records for initial, intermediate and final phases of Operational Resilience Incident reporting.
5. For less severe incidents, follow Chaucer’s internal guidelines for reporting Local Incidents.
6. Determine the severity of Incidents and assess against operation loss thresholds, liaising with the 2LoD for operational loss reporting.
7. Perform root cause analysis, create Incident Reports and facilitate lessons learned sessions with relevant stakeholders.
8. Liaise with other members of the Operational Resilience Team and wider stakeholder network to ensure awareness of what to do in the event of an incident.
9. Responsible for the maintenance of the Operational Resilience Exit Plan Framework for material third parties.
10. Perform Exit Plan risk identification, determine mitigating actions and create the Exit Plan, liaise with key stakeholders at all times.
11. Review the Exit Plans annually and keep them up to date, reflecting changes to services or business requirements.
12. Liaise with Chaucer’s Third-Party Risk Manager, the Procurement and Operational Resilience Teams, in relation to the Exit Plan creation and maintenance.
13. Be the main Operational Resilience point of contact to Chaucer’s Third-Party Risk Manager, reviewing mutual procedures and assessing changes to regulation. Work closely together in the event of exiting a supplier to fully understand the downstream impact.
14. Liaise with the 2LoD and 3LoD, as required and ensure alignment regarding material third parties.

Regulatory Responsibilities

1. Support the CSL and CIC Board’s to maintain a corporate culture, policies and procedures that pay due regard to the interests of CSL / CIC customers and always treats them fairly.
2. Prepare and submit Operational Resilience Incident Reports and contribute to the annual Operational Resilience Self-Assessments (PRA/FCA, CBI and MAS) to Chaucer Boards and regulators.
3. Share the outcome of the Operational Resilience Exit Plans and Incident Reports with the Operational Resilience Group, Operations Committee, Risk Management Team, plus Board and Regulators (if required).

Skills and Competencies

1. Proven delivery of Operational Resilience Incident management.
2. Track record of enhancing material third part Exit methodologies and Exit Plans.
3. Knowledge of the insurance industry, or financial services is beneficial.
4. Knowledge of Operational Resilience regulation; for example, PRA / FCA, CBI, DORA and MAS.
5. Foster a collaborative approach to work with stakeholders across the business and champion resilience.
6. Demonstrate a risk-based approach, avoiding unnecessary complexity and focusing on what truly matters.
7. Embrace change and new technologies to enhance ways of working and reduce manual methods.
8. Can demonstrate a professional style that fully supports Chaucer’s values.
9. Ability to tailor reporting meeting the needs of different stakeholders, ensuring it tells the 'so what' story for Operational Resilience.
10. Commercial and solution-oriented approach to identifying resilience gaps and emerging risks.
11. Proactive approach to risk management, leveraging lessons learned from incidents to drive improvements.
12. Excellent influencing skills to embed a risk-aware culture and promote resiliency in the 1st line.

ABOUT US

Chaucer is a leading insurance group at Lloyd’s, the world’s specialist insurance market. We help protect industries around the world from the risks they face. Our customers include major airlines, energy companies, shipping groups, global manufacturers and property groups.

Our headquarters are in London, and we have international offices in Bermuda, Copenhagen, Dubai and Singapore to be closer to our clients across the world. To learn more about us please visit our website.