Chief Risk Officer, Lmi

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JOB SUMMARY The Chief Risk Officer ("CRO") is a broad and important role and is a key member of the Executive Committee and is responsible for assisting the Board and Senior Management in maintaining the Risk Management Framework of the Company.
The role is positioned as the second line of defence.
As such, it has a strategic focus, and must understand the enterprise risk, monitoring changes in the risk profile and ensure risk is aligned within the company's risk appetite and tolerances.The CRO role has senior executive responsibility for the day-to-day management of a number of Accountable Functions of Arch, including the following functional responsibilities: The CRO role is expected to provide relevant and insightful risk advice, oversight, reporting and counsel to the company regarding guidelines, regulatory obligations, frameworks policies, procedures and methodologies to develop a strongly performing insurance book of business.
This includes ensuring the control systems are both appropriate and effective.
The CRO reports directly to the CEO and Country Head of Arch LMI.
The CRO role has direct access to the Board and Board Committees, the Global Internal Audit and Legal functions and is regularly expected to engage in mandatory regulatory sessions with the Board and its Committees.
These include: The details of the CRO's Job Description are consistent with Arch's Accountability statement required under the Financial Responsibilities under s10(1) and 10(6) of the FAR Act Responsibilities under s10(2) and 10(3) of the FAR Act as prescribed under the Minister rules GENERAL MANAGEMENT RESPONSIBILITIES The Accountable Person has the following general management responsibilities in respect of the Accountable Function of Arch, to the extent they are relevant the activities of the Accountable Function: Determining the delegated responsibilities of direct reports and supervising the discharge of those responsibilities.Supervising the delivery of project-related responsibilities allocated to the Accountable Function by other project sponsors.Escalating and advising on material issues which are within the scope of the Accountable Person's role to the Board, Board Committees, CEO and Executive Committee members (as appropriate).
Functional Responsibilities The Accountable Person has the following functional responsibilities in respect of the Accountable Function of Arch: - Delivery of the responsibilities of the Risk function in its capacity as the second line of defence under the RMF, including by:Assessing and advising on risk culture to assist the Board to form a view of the risk culture of Arch, and the extent to which that culture supports Arch's ability to operate consistently within its risk appetite, identify any desirable changes to the risk culture, and monitor whether Arch takes steps to address those changes.Developing, implementing, and monitoring Arch's compliance framework to support Arch to comply with regulatory and legal requirements including developing and presenting, for Board sign off:- Supervising the responsibilities of the Internal Whistleblower Protection Officer who reports to the Accountable Person.The CRO role must seek to discharge their responsibilities consistently with Arch's global management structure, operating model and governance, risk management and control frameworks (including associated policies and procedures), as adopted by Arch and subject to complying with Australian legal and regulatory obligations.The responsibilities related to the key functions allocated to the CRO role are as described in this job description and the accompanying Accountability Statement and not as described in Attachment B to the Financial Accountability Regime Act (Information for Register) Regulator Rules 2024.Knowledge & Skills:Knowledge and expertise in mortgage credit risk, LMI and structured financial transactions.Technical and quantitative knowledge of APRA regulatory capital rules and APRA regulation of banks and general insurers.Technical and quantitative knowledge of bank capital including Basel Committee capital rules (Basel II and Basel III).
Depth of knowledge and insight into the key drivers of residential mortgage credit losses including borrower, product, property, geographic and lender specific attributes along with macro-economic and socio-demographic factors.Strong project management skills and demonstrated ability to deliver results under tight deadlines and competing objectivesAbility and willingness to work outside normal business hours including weekends and holidays when necessary.Strong communication skills in written and verbal formats; ability to address a broad range of audiences including Senior Management, the Board and its Committees, the Appointed Actuary, the Reviewing Actuary, the Arch Capital Group Senior Executives and key stakeholders including APRA, ASIC, Rating Agencies, and Reinsurance Market.Ability to lead a team of risk and compliance staff in the second line of defense.Strong interpersonal skills and willingness / ability to function as a member of a multi-disciplined, international team.Education & Experience:Required knowledge and skills would typically be acquired through an MBA or bachelor's degree in finance, economics or related field and approximately 10-15 years of related experience in risk management and analysis.Advanced knowledge of data platforms, tools and methodologies.
- Attendance / Punctuality - Is consistently at work and on time.
Willing to periodically work hours to accommodate other time zones.
Ensures work responsibilities are covered when absent.Incumbent may be asked to perform other duties as required