The Insurance Risk Challenges & Opportunities for 2018
In my last update we looked at the challengers facing the Insurance Risk Community in 2018. This month I wanted to give a brief update on what our clients are telling us and the roles we are being instructed on. It’s fair to say that summer has been busier than ever, and with the holidays now over, we expect September to continue that trend. In broad terms, the industry drivers still include:
- Brexit – risk mitigation in an uncertain climate
- Data – Both the role of the CDO and the CIO are now established at ExCo level, and now seen sitting in the business
- Regulation – Is you firm ready for the Insurance Distribution Directive come October?
- M&A – continuing apace, and no let up for strong operational and IT integration/divestment skills.
The following is a selection of the Interim roles our clients have asked us to support them in delivering in the last few months:
- CRO – Consumer Lending – Regulatory pressures necessitated a change in risk leadership, and a revised risk framework and appetite
- Head of Risk – Payments – Start up payments organisation looking for an entrepreneurial and commercially focused risk leader.
- Head of IT Infrastructure – Insurance – New business ownership has driven need to large scale transformation and integration
- Head of Infrastructure – Private Equity – Significant company growth, with IT having fallen behind, requiring a new focused fit for purpose strategy.
- Strategy Consultant – Insurance – Overhaul and new management team driving growth, they required a deep drive operational and commercial strategy review and a new roadmap.
- Operations Director – Challenger Banking – Regulatory oversight and new business drivers required a new TOM for back office operations
- Head of Specialist Lending – Challenger Bank – Resignation of the incumbent allowed the organisation to upskill the role and begin transforming the Product Portfolio
- Product and Propositions Director – Insurance – Brought in to revamp and renew a stale and non performing product portfolio.