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Chief Risk Officer (SMF4)
New UK General Insurance Carrier | London
Build and lead the risk function of a new UK carrier from launch. Own the ORSA and risk appetite, hold SMF4 accountability and provide independent challenge as the business enters the market and scales.
The opportunity
Valmont Talent has been retained to appoint the Chief Risk Officer of a new UK general insurance carrier being established within a substantial, fast-growing international specialty insurance and reinsurance group.
This is a general insurance appointment. The carrier will initially focus on UK Commercial Property and selected Agricultural products, with the intention of broadening into further property and casualty classes as the business develops.
The wider group
The new carrier will sit within an independent, family-controlled specialty insurance group that combines entrepreneurial pace with meaningful financial scale, established distribution and experienced underwriting, actuarial, regulatory and executive leadership.
- An established international broking and distribution network
- A growing portfolio of owned insurance and reinsurance carriers
- An established specialty MGA and underwriting platform
- Significant capital commitment and a clear strategy for international growth
The mandate
The incoming Chief Risk Officer will build the carrier's risk function from the ground up, support it through regulatory authorisation and hold the SMF4 accountability as the business enters the market and scales.
This is not a role inheriting a finished framework. It is an opportunity to determine how the risk function should operate, establish its authority across the organisation and embed effective risk management from launch.
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Key responsibilities
- Build the risk management framework, policies, governance and reporting infrastructure
- Own the ORSA, the carrier's overall risk profile and the risk appetite framework
- Hold SMF4 accountability and the associated Statement of Responsibilities
- Lead the second-line relationship with the PRA and FCA
- Provide independent challenge across underwriting, pricing, capital and reinsurance
- Oversee the SCR, solvency position, stress and scenario testing and emerging risks
- Embed the three lines of defence throughout the business
- Support regulatory submissions, authorisation readiness and Board engagement
- Contribute to capital planning, recovery planning and reinsurance strategy
- Establish operational, conduct, counterparty and outsourcing risk oversight
- Support the carrier through its first financial strength rating process
- Build and develop the risk team as the portfolio expands
- Enable disciplined growth without weakening commercial agility
The candidate
We are looking for a senior UK general insurance risk leader who is already approved (or approvable) as SMF4.
Skills and experience
- Current or previous experience as a CRO, Chief Risk Function holder or senior risk leader within a UK general insurer
- Deep knowledge of the PRA and FCA regulatory environment and strong command of Solvency UK
- End-to-end ownership of an ORSA and risk appetite framework
- Experience overseeing SCR, capital adequacy, solvency monitoring and stress testing
- Strong understanding of commercial property and casualty underwriting risks
- Credible, constructive challenge to underwriting, actuarial and executive teams
- Experience presenting to Boards, risk committees and regulators
- Strong governance, policy-writing, risk-reporting and analytical capabilities
- The judgement, integrity and personal standing required to hold a Senior Management Function
- Ability to translate complex risk matters into clear commercial decisions
- Confidence operating in an entrepreneurial, rapidly growing organisation
- A practical, hands-on approach suited to building a function from launch
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Additional experience valued
- Experience of insurer authorisation, mobilisation, a new carrier launch or the substantial redesign of a general insurance risk function would be particularly valuable.
- Familiarity with agricultural insurance, reinsurance strategy, financial strength ratings or international carrier structures would also be advantageous.
Why consider this opportunity?
Few CRO appointments offer this combination of clean-sheet design, personal regulatory accountability and substantial group support. The successful candidate will shape the carrier's risk culture, build the framework properly from the outset and remain closely involved as the business moves from authorisation into disciplined growth.
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