The job holder will have key responsibilities in both Enterprise Risk Management (“ERM”) and Group Insurance and is therefore preferred to be experienced in both areas, but relevant insurance experience is a pre-requisite.
In relation to ERM, the job holder will liaise with the central functions and Management Board to identify and assess enterprise risks within the group, agree plans to manage these risks appropriately, and monitor progress against these plans. The job holder will also be expected to provide considerable input into the development of ERM guidelines and ways of working across the group to ensure that Group’s approach to ERM activities is appropriate for an organisation of BAT’s scale and complexity.
In relation to Group Insurance, the job holder’s responsibilities will include the responsibility of managing some of the principal Group insurance programmes. This involves not only the placement of the programme, and the associated administration, but also providing a technical escalation point for issues raised internally or externally. These lines of business may vary from time to time, but will include some of our key P&C lines of insurance covering property, liability and financial lines.
Strategic scope: Tactical Implementation.
No. of Overseas Reporting Markets – 180 circa.
Direct reports – 0.
- Ensure that the Group adheres to the established approach to enterprise risk management (ERM), and significant risks are reviewed periodically by the Main and Management Boards.
- Assist the Group Head of Risk & Insurance in determining that the Group ERM methodology remains appropriate and that ERM processes are kept up-to-date and relevant, taking into account best practices and external benchmarking, and ensure alignment and integration with the strategy & planning cycle.
- Monitor and evaluate the organisation’s approach to managing risk.
- Facilitate the Group Risk Management Committee (preparation, organisation, communication) and prepare and support risk discussions at Board level.
- Act as the global “Centre of Excellence” for Risk Management, supporting the Functions and Regions. Provide ad-hoc advice on risk management issues to Management across the Group.
- Develop further the global risk management community and ways of working.
- Lead the group wide implementation of ERM software and its ongoing maintenance.
- Assist the Group Head of Risk & Insurance in the implementation of the Group’s insurable risk strategy and to provide input into the decision making around insurance procurement, utilising the understanding of the group’s risk profile and risk tolerance.
- Manage the delivery of key Global Insurance programmes. This includes all aspects of programme delivery from management of the relevant broker, joining and participating in discussions with lead insurers to reviewing and debating policy language and management of claims in relation to the line of business.
- Provide a technical insurance escalation for queries arising from internal or external parties for allocated classes of business.
- Keep up to date with insurance market conditions and best practices.
- Act a contact point for US operations.
Deputise for the Group Head of Risk & Insurance on ERM and Insurance matters as necessary.
British American Tobacco is in a period of significant change, which will continue over the next few years, involving major changes in business processes and operating procedures. The associated level of change will place great demands upon resources, cause changes in the risk profile, and provide a challenging risk & control environment.
The responsibility for Group Risk Management moved during 2015 from Group Internal Audit to Group Treasury, as part of a wider Group Risk & Insurance function to realise the expected synergies achieved by the alignment of Group Risk Management and Group Insurance, and therefore the job holder will be involved across both areas.
ii. Knowledge, Skills and Experience
- Relevant Risk Management or Insurance qualification is required.
- Relevant experience of Enterprise Risk Management and P&C insurance.
- Good understanding of US insurance practices and terminology would be beneficial.
- Good understanding of BAT’s business and operating models is desirable but experience of insurance and ERM in large multinational organisations is required.
- Good facilitation and interpersonal skills.
- Strong written communication skills, able to produce high quality documents.
- Ability to simplify complex situations, synthesise, communicate and present complex information.
Good working knowledge and experience of SAP GRC ERM module would be preferred.
iii. Working Relationship
- The role requires the holder to build effective working relationships across the group. In particular, a strong relationship will need to be built with the Risk owners and Risk Managers across the group, with the ability to contribute to the debate at all levels.
- External relationships will be developed with key insurance and risk management service providers and with fellow Risk Managers in other organizations.