Senior Executive, Operational Risk Management

Job Summary

We are seeking an experienced Operational Risk Manager to join our risk management team. In this role, you will be responsible for identifying, assessing, and mitigating operational risks across our general insurance operations, including commercial lines underwriting, claims management, distribution channels, and policy administration. You will work closely with business units to embed a strong risk culture and ensure our operational processes are resilient, compliant, and effective.

Key Responsibilities

• You will leverage operational risk framework and risk assessment methodologies to help us identify potential vulnerabilities in our processes, systems, and controls. This includes conducting regular risk assessments, analyzing loss data and near-miss events, and maintaining our operational risk register. Given the nature of general insurance, you'll pay particular attention to risks arising from high-volume transactional processes, broker and distribution channel relationships, and the fast-paced nature of our underwriting and claims environments.
• A significant part of your role will involve collaborating with stakeholders across commercial lines, insurance, claims, finance, IT, and compliance to understand their operations and help them manage operational risks effectively. You'll need to understand the unique risk profiles of different product lines, from motor and property insurance to commercial liability and specialty risks, and how operational failures in these areas could impact our customers and business.
• You'll focus on key operational risk areas specific to general insurance, including premium calculation errors, policy administration mistakes, claims handling failures, fraud risks, third-party and outsourcing risks (such as those related to brokers, claims handlers, and service providers), regulatory compliance breaches, and technology and data security risks. You'll facilitate risk workshops, provide guidance on control design, and support business units in implementing risk mitigation strategies.
• You will be responsible for monitoring key risk indicators relevant to general insurance operations, such as policy cancellation rates, claims processing times, complaint volumes, regulatory breach incidents, and system availability metrics. You'll develop reporting frameworks that provide meaningful insights to senior management and the board, including preparing regular risk reports, trend analysis, and presenting findings to various governance committees.
• Working closely with internal audit and compliance teams, you'll help ensure our operational risk management practices align with regulatory requirements specific to general insurance, including conduct risk requirements, treating customers fairly principles, and prudential regulations. You'll also contribute to the development and enhancement of policies, procedures, and governance frameworks related to operational risk.
• When incidents occur, whether they involve underwriting errors, claims disputes, data breaches, or regulatory issues, you'll lead or support root cause analysis efforts, ensuring we learn from events and implement appropriate corrective actions. You'll maintain our incident management database and track the effectiveness of remediation efforts, paying particular attention to patterns that might indicate systemic issues in our general insurance operations.
• Demonstrated understanding of Model Risk Management principles, including model lifecycle governance, validation, and regulatory expectations.

Required Qualifications and Experience

• You should have at least five years of experience in operational risk management within the general insurance sector or broader financial services.
• A strong understanding of general insurance operations is essential, including knowledge of underwriting processes across different product lines, claims management workflows, distribution models (direct, broker, aggregator), policy administration systems, and the regulatory landscape for general insurers.
• You'll need demonstrated experience implementing operational risk frameworks, conducting risk assessments, and working with risk management tools and methodologies. Experience with scenario analysis and stress testing in an insurance context would be valuable. Familiarity with regulatory requirements affecting general insurance companies and equivalent frameworks is highly desirable.
• Understanding of the specific challenges in general insurance operations is important, including managing risks across diverse product portfolios, handling claims processing volumes, managing catastrophe event responses, and overseeing complex supply chains involving brokers, agents, loss adjusters, and other third parties.
• Strong analytical skills are crucial, as is the ability to interpret complex data and communicate risk insights clearly to both technical and non-technical audiences. You should be comfortable challenging the status quo and influencing stakeholders at all levels of the organization, from underwriting teams to senior executives.

Skills and Competencies

• We're looking for someone with excellent communication and interpersonal skills who can build relationships across the organization and facilitate productive discussions about risk. You should understand the commercial realities of general insurance and be able to balance risk management with business enablement, helping the organization take informed risks in pursuit of its strategic objectives.
• You should be detail-oriented yet able to see the big picture, understanding how operational risks interconnect with other risk types such as underwriting risk, ICT and Cyber risk, and other operational risk. Knowledge of how operational failures can impact capital requirements, customer outcomes, and regulatory standing is important.
• Proficiency with risk management software, data analysis tools, and Microsoft Excel is expected. Experience with GRC platforms, insurance-specific systems, or claims management platforms would be advantageous. Experience with risk modeling or quantitative risk assessment techniques would be beneficial.
• A relevant professional qualification or similar certification would be beneficial, though not essential if you have strong practical experience in general insurance risk management.

Compliance (this is compulsory section)

Ensure compliance with the requirements of local regulations and all other relevant statutory regulations and guidelines, as well as relevant Company, Regional and Generali policies and procedures.

Information Security (IS):

Responsible for defining requirements as regards to information availability, confidentiality, and integrity. Managers must ensure that all staff members (including temporary staff) and providers comply with the relevant security standards

• Perform risk analysis to determine risk and potential business impacts
• Liaise and co-ordinate with Information System Security Manager on all Information System Security activities within department
• Ensure compliance on Information System Security standards and Information System Security guidelines are adhere to within department

Data Privacy

Ensure compliance with Data Privacy laws and regulations, policies, standards, process and procedures implemented by the Company at all times.

Diversity, Equity, Inclusion

Generali is an equal opportunity employer. All applicants will be considered for employment without attention to race, color, religion, sex, gender identity, national origin, veteran or disability status.

At Generali, we believe that it is our differences that make the difference. At the heart of everything we do, we value the fact that we are all human beings, unique in our own ways, bringing different cultures, lifestyles, mindsets, and preferences.

Our commitment is to leverage this Diversity to create long-term value, to be innovative, sustainable, to make the difference for our people, our clients, our partners as well as our communities. We strive to promote a culture where DEI is embedded in how we work and do business every day. All of us around the world are taking actions every day to create an inclusive and accessible workplace, where every person feels empowered to take ownership, to challenge biases and lead the transformation with a human touch.