Risk Manager (Insurance)

Location: Reigate, United Kingdom; hybrid working with 1–2 days per week onsite at The Omnibus Building.

Salary: Up to £70,000 per year, depending on experience, plus annual bonus and benefits.

Company

Tesco Insurance and Money Services provides personal insurance and travel money services to more than 2 million customers.

What you will do

• Support the development of insurance and financial risk appetites, tolerances, and limits aligned with business strategy.
• Assist with ORSA activities, including stress testing and reporting.
• Provide second-line oversight and challenge across insurance and financial risks, including RCSA assessments and validation of first-line control testing.
• Draft risk reports for internal forums and governance bodies.
• Build stakeholder relationships across Risk & Compliance, Finance, and Underwriting.
• Maintain risk monitoring systems and recommend improvements to policies, procedures, standards, and controls.

Requirements

• Demonstrable experience in risk management, preferably within general insurance.
• Strong understanding of risk assessment and data analysis.
• Experience reviewing and writing reports.
• Understanding of the regulatory framework for UK general insurers.
• Ability to communicate clearly with stakeholders at all levels.
• Ability to work with Finance and Underwriting stakeholders and support business decision-making.

Nice to have

• Knowledge of insurance-sector business processes and risk management frameworks.
• Detailed knowledge and experience of Solvency UK.
• Knowledge of the PRA and FCA regulatory frameworks and governance requirements.
• Experience developing procedures and monitoring their implementation.
• Understanding of Finance and Underwriting risks.

Culture & Benefits

• Hybrid working with flexibility to balance office collaboration and remote work.
• Pension contribution of up to 7.5%, depending on employee contributions.
• Private medical insurance and virtual GP service for eligible employees and their families.
• Performance-related annual bonus and 7.2 weeks of holiday, with the option to buy more.
• Enhanced parental leave, colleague discounts, savings options, and ongoing learning opportunities.
• Part-time and flexible working opportunities may be explored.

Hiring process

• Applications close on 22 September 2026 at 5pm.
• Interviews are expected to take place shortly after the closing date.
• Reasonable adjustments are available throughout the recruitment process.