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  • Chief Risk Officer/ Head of Risk Management

    • AU-1.2.10A

      Chief risk officer/ Head of risk management is responsible for the management of all risk exposures arising from the activities of the insurance firm.

      Amended: October 2020
      Added: April 2014

    • AU-1.2.11

      Whether a person is a head of function will depend on the facts in each case and is not determined by the presence or absence of the word in their job title. Examples of head of function might include, depending on the scale, nature and complexity of the business, a deputy Chief Executive; heads of departments such as Underwriting, Claims, Risk Management, Compliance or Internal Audit; the Chief Financial Officer; or a Signing Actuary (where that person is a Director or employee of the insurance firm concerned).

      Amended: July 2007