This role sits within the Group Insurable Risk (GIR) function, part of the of the Head Office business within BAE Systems. The role will provide you with the opportunity to work across a large, international and diverse portfolio.
As a Group Insurable Risk Manager, you will be responsible for supporting the delivery of the Company’s Group Insurable Risk strategy through understanding the Group’s insurable risk profile to optimise the purchasing of appropriate insurance policies and associated risk management programmes. You will typically be responsible for identifying and understanding the risk profile of the assets, liabilities and people exposures for a large portion of the group through proactive structured engagements, providing adhoc insurance advice to business units, manage relationships with stakeholders and advising on risk in contracts to bring about preferred contracting positions for the Company.
Your main responsibilities as a Group Insurable Risk Manager will involve:
Interacting with a number of business units and stakeholders to enable a good understanding of the business environment, products and services to inform the development and delivery of the Company’s global insurable risk strategy.
Supporting Insurable Risk Contacts based in business units to help them with a range of insurance related questions or problems and develop GIR’s understanding of the group’s ever changing insurable risk profile, including identification of material circumstances ensuring that these insights are formerly captured by the business units in their biannual ‘risk story’ submission to insurers.
In conjunction with Head of Insurable Risk Identification and relevant business unit Finance Directors determine and agree annual key business objectives aligning to the business units and GIRs strategy. Support the Insurable Risk Contacts in achieving the agreed annual key businesses’ objectives.
Supporting and managing areas covered by the Service Level Agreement between the business units and GIR.
Working closely with the business units or corporate functions to support appropriate commercial arrangements that need to be in place to compliment preferred risk positions and ensure the risk financing programme managed by GIR responds in the event of a loss through:
Supporting appropriate contractual risk management assessment with the business units including provision of appropriate training programmes.
Support the business units by helping to negotiate preferred risk and insurance provisions in contracts e.g. indemnities, waivers and caps on liability with customers and or suppliers and agreeable insurance clauses.
Providing support to all members of Group Insurable Risk and the wider BAE Systems Insurable Risk contacts and participate in specific insurable risk projects and other work streams that enhance Group Insurable Risk’s capability or performance on an as required basis.
Your skills and qualifications:
Sound understanding of insurance technical issues: policy wordings, insurable risk management techniques and contractual risk management.
Knowledge of contractual risk management including insurance, liability and indemnity positions that can be accepted under contract and those aspects which are onerous or unacceptable.
Good understanding of the insurance market and ability to understand BAE Systems’ key strategic relationships.
Ability to acquire sound understanding of insurable risk management operations of GIR to enable you to speak about risk financing, premium allocation, claims, asset valuation and loss prevention to Finance Directors and other key stakeholders as identified
Ideally you will have associated qualifications such FCII, ACII, IRM or equivalent university degree in insurance or risk management however this is not essential.
Ideally you will have worked within a large FTSE100 or equivalent business or for an insurance company, broker or consultancy which would be advantageous.
What we're looking for in you:
You will be a confident communicator with excellent stakeholder management skills, working at all levels. You will enjoy working collaboratively as part of a team. You will have a strong insurable risk background and be used to working in a challenging environment.
Location: Farnborough with the flexibility to travel and work from home if required.
Benefits: Our employees receive an excellent benefits package which includes a competitive pension scheme, enhanced annual leave allowance and a Company contributed Share Incentive Plan. We also offer a range of additional benefits such as flexible working, an employee assistance programme, Cycle2work and many local and national employee discounts. Some employees may also be eligible for an annual incentive.
BAE Systems is one of the world’s leading global defence, security and aerospace companies. We work at the cutting edge of technology, creating more than 100 new inventions every year for customers in over 100 countries.
If you’d like to make a real difference where it counts, BAE Systems is the place for you.
From keeping soldiers, sailors and pilots safe to helping countries prosper, from developing the next generation of supersonic aircraft to investing in the next generation of super-smart talent – at BAE Systems, we work together to give our customers an essential edge in protecting the things that really matter. Lives, livelihoods, ways of life.
As part of the Head Office team, you’ll be at the heart of this endeavour – working closely with our air, maritime, land and cyber and intelligence businesses to support our customers around the world.
Join us and you’ll be encouraged and rewarded to excel in this important work. Apply your talent where it counts.
We recognise that an inclusive and diverse workplace – where all employees feel respected, valued and able to achieve their full potential – is vitally important. Not only does it inspire creativity and collaboration, it’s good for business. We celebrate our differences and believe our diverse skills, abilities and perspectives strengthen our culture and our overall performance.
We welcome applications from all suitably qualified people.
Please be aware that many roles working for BAE Systems will be subject to both security and export control restrictions. These restrictions mean that factors including your nationality, any previous nationalities you have held, and/or your place of birth may limit those roles that you can perform for the organisation.
Due to the volume of applications we receive, we sometimes close our vacancies early. It is therefore advisable to apply as early as possible if you would like to be considered for a role with BAE Systems.