Head of Risk Governance, Operational Risk & Internal Control

What you’ll be doing

What will your essential responsibilities include?

Key Characteristics of the Job:

• Operational risk is composed of a huge diversity of risks from human errors, system disruption, cyberattack to compliance sanctions etc., …if not adequately managed, it will directly affect our customers experience and our relationship with regulators.
• The Operational Risk capital charge for Solvency II requirements is integrated in AXA XL Capital requirements STEC process and represents a contribution of ca 600M USD with ca 200 risks identified across the Division.
• The Internal control programme is contributing to the transformation of AXA XL operations with the support of senior management within an increasingly highly regulated environment.
• Each year, risk and control teams within AXA XL are dealing with the reporting and management of ca 250 operational incidents and control failures representing ca 250K USD yearly loss impact.

Environment and Challenges:

• Define the adequate Risk and Control Frameworks and Governance, lead their implementation at corporate and entity level preserving the right balance between business ambition, client’s interest and sustainable development.
• Design and Implement governance to ensure critical decisions are adequately prioritized and timely escalated to Leadership Team and Board level and risks contained within AXA XL Risk Appetite.
• Transform and drive Standards Governance to ensure it supports Group governance in a critical transformation phase and an important shift in our organization and strategy.
• Design and lead Internal Control Framework with several objectives to:
  • monitor our processes efficiency,
  • support transformation, simplification and automatization.
  • improve our quality of services to our clients and influence Group NPS,
  • protect our long-term profitability and reputation.
• Drive and inspire a cultural shift on risk and control related topics to ensure appropriate ownership and adequate inclusion in management decision at all levels of organization. Partner with senior management to advise and assist them in their decision with complementary vision and perspective.
• Define, implement and manage Operational risk, information risk, internal control framework. Ensure frameworks are proportionate to our activities and risk and aligned with clients, market and regulators expectations. Lead their implementation at division and entity level.
• Lead and oversee the identification and assessment of the organization’s material or aggregate operational or information risks. Provide adequate reporting and MI to all levels of the organisation. Oversee modelling of those risks for inclusion in Solvency Capital requirements.
• Ensure adequate Internal Financial Control to assist AXA XL CFO in financial statement disclosure.
• Organise and run the AXA XL Operational Risk and Compliance Committee and ensure critical decisions are prioritized and escalated to the appropriate Board level. Working with the legal entity CROs, define and promote similar governance requirements at legal entity level and contribute to their implementation.
• Ensure implementation and respect of AXA Standards and Policies. Ensure governance is effective and adapted during implementation phase and consistent with AXA Group Strategy
• Organize, prioritize and deliver advice and “second opinion” reports with in-depth analyses and guidance related to specific controls environments (e.g. new businesses, large IT projects, transformation projects, etc.) and recommendations to enhance maturity.
• Design reporting, dashboard, key risk or control Indicators…to ensure risks are well understood and managed and to engender an appropriate risk culture.
• Manage Operational Risk, Information Risk Management and Internal Control teams to foster decision, collaboration and information sharing. Notably, promote the use of the associated information and tools to support continuous improvement of risk mitigation and sustainable management of our operations.
• Lead the team and ensure skills and resources are adapted to our challenges. Promote risk and control teams to attract and retain talents.
• Provide support, assistance, training to other departments and legal entities in support to Operational & Information Risk, Internal Control and Standards activities and culture.
• AXA XL Operational Risk profile is well managed, and decisions are taken to deliver expected outcomes to our clients and to protect at best AXA XL in face of major adverse events.
• Risk Governance is communicated, known, agile and efficient to be the right vector of information and decision within AXA XL.
• Risk advice is supporting our key projects and transformation phases to ensure implementation of processes with the level of outcomes that our customers or regulators expect.
• Group Standards and Policies and Internal Control Framework are implemented with right ownership at Division and Legal Entity levels from boards downwards.
• Teams are managed to ensure skills and resources are adapted and talents are attracted and retained.

You will report to the AXA XL Chief Risk Officer.

What you’ll bring

We’re looking for someone who has these abilities and skills:

Skills:

• Excellent knowledge of Risk Management framework, processes and governance
• Excellent Knowledge of Operational & Information Risk and Internal Control
• Experience in the design and development of governance frameworks.
• Knowledge of Solvency II and Financial Services Regulations
• Outstanding project management skills
• Robust experience in defining and selecting resources and skills to build organization
• Demonstrated leadership in decentralized and international organization

Experience:

• Extensive experience in managing teams and relationships within a global company
• Good communication, negotiation and presentation skills
• Ability to convince and influence to impact strategic decision
• Demonstrated leadership ability in a team-oriented and collaborative environment
• Ability to work well under pressure while completing timely, executive-level deliverables
• Ability to elicit cooperation from a wide variety of sources, including management, clients, other departments, and regulators
• Fluent in English
• Extensive work experience, preferably in Financial Services industry, including deep management and international experience

What we offer

• Five Business Resource Groups focused on gender, LGBTQ+, ethnicity and origins, disability and inclusion with 20 Chapters around the globe.
• Robust support for Flexible Working Arrangements
• Enhanced family-friendly leave benefits
• Named to the Diversity Best Practices Index
• Signatory to the UK Women in Finance Charter

• Valuing nature: How we impact nature affects how nature impacts us. Resilient ecosystems - the foundation of a sustainable planet and society – are essential to our future. We’re committed to protecting and restoring nature – from mangrove forests to the bees in our backyard – by increasing biodiversity awareness and inspiring clients and colleagues to put nature at the heart of their plans.
• Addressing climate change: The effects of a changing climate are far-reaching and significant. Unpredictable weather, increasing temperatures, and rising sea levels cause both social inequalities and environmental disruption. We're building a net zero strategy, developing insurance products and services, and mobilizing to advance thought leadership and investment in societal-led solutions.
• Integrating ESG: All companies have a role to play in building a more resilient future. Incorporating ESG considerations into our internal processes and practices builds resilience from the roots of our business. We’re training our colleagues, engaging our external partners, and evolving our sustainability governance and reporting.
• AXA Hearts in Action: We have established volunteering and charitable giving programs to help colleagues support causes that matter most to them, known as AXA XL’s “Hearts in Action” programs. These include our Matching Gifts program, Volunteering Leave, and our annual volunteering day – the Global Day of Giving.

Who we are