Tesco Bank

Salary – Competitive + Annual Bonus & Benefits

Work Level – 3

Permanent role

Location – Reigate (other offices in Edinburgh or Newcastle)

Office Attendance - Our roles are hybrid; however you need to travel to our office 2 days per week for this role.

Closing Date for applications – 1^st September 2025

SM&CR Certified role – successful applicant will be screened according to our pre-employment screening policy guidance.

We deal in the personal – from pet insurance for your best friend, and home insurance for peace of mind, to motor insurance for your dream car or travel money for that trip you’ve worked hard for. And that means we always work with heart. Whether we’re helping our customers or looking after our people, you’ll find there’s a warmth and friendliness to everything we do.

Opportunity

We’re recruiting a Head of Insurance and Financial Risk to join our Risk Function at Tesco Insurance & Money Services, reporting into the Chief Risk Officer.

In this key leadership role, you’ll act as the organisational authority and established expert in Insurance and Financial Risk matters; leading oversight of actuarial reserves and capital projections; pricing and underwriting models; and financial plan forecasts.

You’ll be part of a supportive and forward-thinking team, where your voice is heard and your work makes a real difference; and will have the opportunity to build a strong network across Tesco Insurance & Money Services and the wider insurance industry.

The Role

•       Co-ordinate the ORSA process including annual report update and Stress & Scenario testing.

•       Providing oversight and challenge to the Insurance & Money Services business to ensure that Insurance and Financial risks are being appropriately managed and reported and remain within risk appetite, policy, and regulatory compliance constraints.

•       Preparation and presentation of papers to key stakeholders at relevant governance meetings.

•       Use expertise and market knowledge to Identify new external developments and/or emerging issues and evaluate their potential impact on, or usefulness to, the organisation.

•       Using risk analytical skill set to drive improvements and enhancements to the data analytics within the risk function.

•       Line management responsibility for a small team of Insurance Risk professionals with access to Risk SMEs to call on from across the wider team when needed.

We need you to have

•         Proven experience of working in a risk management function in a highly regulated financial services environment.

•         Strong knowledge of the personal lines insurance market.

•         Experience of working in multi-disciplinary teams and leading projects to achieve specific end results within limited timeframes.

•         Wide and deep experience providing expert competence, with demonstrable experience of building strong relationships and the ability to pragmatically challenge stakeholders, including senior leaders.

•         A collaborative mindset, with a passion for developing people and driving continuous improvement.

•         Strong written and verbal communication skills.

•         A focus on prioritisation and being accountable for delivering what matters.

Qualifications

·       A degree or equivalent qualification or experience in a related discipline, e.g., insurance, actuarial, finance.

What’s in it for you?

•         Performance related annual bonus.

•         Prepare for your retirement with our colleague pension scheme.

•         Virtual GP Service for you and your family 365 days a year.

•         Indulge in a generous holiday allowance with a minimum of 7.2 weeks, with the opportunity to buy more.

•         Embrace the benefits of our Colleague Clubcard, enjoy a 10% discount that increase to 15% every payday. As an added perk, we’ll give you a second card to share with someone else.

•         Company Car Allowance and Green Car Leasing Scheme.

•         Private Healthcare, Health screening and Life Assurance.

•         Benefit from our family-oriented initiatives, encompassing enhanced maternity leave pay, a shared parental leave policy, and a generous 8-week paid paternity leave.

•         Take part in our Buy as you Earn and Save as you Earn share schemes.

Everyone’s welcome

We want all our colleagues to always feel welcome and be themselves. We’re committed to building a more inclusive workplace and celebrating everything that makes colleagues unique, and value the richness and diversity this brings to our business. A more diverse business helps us deliver on our purpose to serve our customers, communities, and planet a little better every day.

Additional Information

We also know the importance of balancing work with life’s other commitments. Please talk to us at interview about the flexibility you need, as we’re committed to exploring flexible working opportunities, at every level of the organisation.

Interviews commencing September 2025.