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Head of Prudential Risk

Job Introduction

** Remote/home working allowed **

This role can be available on a part-time basis

When you join Saga we welcome you with open arms and we fuel your career possibilities. We support. We encourage. We champion you to reach your full potential.

With market-leading, innovative insurance, and financial products the transformation of our business makes the Saga Group an extremely exciting place to be as we move toward the Saga 70th anniversary in 2021. 

…And right now, we are looking for an inspirational leader to join us as the Head of Prudential Risk at an exciting time in Saga’s history. As a Group, Saga is taking to the seas in our brand new, luxury cruise ships, leading the market with innovative insurance and financial products.

You will be responsible for the risk oversight of the management of prudential and liquidity risk, and compliance with financial services prudential requirements set by the FCA and GFSC.

As a subject matter expert, you will provide thought leadership and will support and challenge senior actuaries and finance leadership. Your business and commercial acumen coupled with your powerful communication and influence will be put to good use as the prudential regulatory lead at our business unit board audit and risk committees. 

And in return, you can look forward to all the responsibility and involvement of an integral role, providing you with a rewarding and fast-paced career with an excellent benefits package.

Role Responsibility


  • Contributing to development of the Group’s overall strategic plan and assessing the risks in and to the plan from a prudential perspective.


  • Ensure an appropriate risk appetite for prudential risk is designed and used in the Group for decision making and reporting.
  • Robust review of compliance with prudential risk appetite.
  • Provide 2nd line independent review of compliance with prudential regulation, including Solvency II and TC2.4
  • Advise the 1st line on horizon risks relevant to prudential risk.
  • Review the business risk registers and risk events, and assess the adequacy of the business response.


  • Prudential regulatory lead at business board audit & risk committees.
  • Provision and presentation of insightful reports on the status of prudential risk across the group.


  • Leading with purpose and role modeling Saga values to enable the right culture, grow talent and capability and sustainable colleague engagement.
  • Support and challenge of senior actuaries and Finance Leadership team.
  • Collaborative working with Risk team colleagues.

The Ideal Candidate

Capability, Knowledge and Experience:

  • Understanding of good risk management, specifically in a regulated firm and in relation to prudential risk in Insurance.
  • Demonstrated leadership experience, working with Boards, Regulators, Group Executives and Risk Committees.
  • An understanding of both operational and technical aspect of Broking, Pricing, Underwriting and Claims Management including a working knowledge of Solvency ii.

Education and qualifications:

  • Qualified actuary; Insurance SME

Package Description

The standard benefits when you join Saga include: 

  • Remote working available where possible

  • The choice to buy a further 5 days annual leave per year 

  • Free private medical insurance after 1 years' service 

  • Workplace Pension 

  • AXA Be Supported 

  • Discounts on Saga holidays and insurance products 

  • A range of reductions and offers from leading retailers, travel groups and entertainment companies 

About the Company

Having spent our first 30 years focused on travel, Saga launched Saga Magazine and developed home and motor insurance and financial services in the 1980s. Private medical and pet insurance followed in the 1990s, along with the launch of our own cruise ship operation. The strength of the Saga brand provides the Group with the ability to develop in-house or partner with suppliers to offer our customers and members highly differentiated, competitively priced products which meet their evolving needs. 

Saga exists to help our customers and members lead the life they want to lead. To succeed in this, we know that the most important thing to do is to listen to our customers and members. At the heart of our business model is our drive to know more about our customers’ wants and needs so we are best placed to serve them.

Applying this approach over the past 70 years has enabled us to become the UK's specialist provider of products and services to people aged over 50 in the UK. The Saga brand has become one of the most recognised and trusted brands amongst UK consumers in this demographic and is recognised for its high quality products and exceptional standards of service. These include cruises and holidays, insurance, personal finance, the Saga Magazine.

When you join Saga you will see that we are committed to treating all employees fairly and to offering equal opportunities in all aspects of employment and advancement. 

We value diversity not just because it is the right thing to do, but because diverse teams perform better. Creating a culture in which everyone feels welcome and offering equal opportunities in all aspects of employment and advancement is incredibly important to us. Fair consideration is given to applications from all applicants, including those with disabilities and those over who are over 50.


We are an official Disability Confident Committed employer and ensure that our recruitment process is inclusive and accessible and we will make reasonable adjustments as required.


We are a member of the 30% Club and partner with Women Ahead which offers us a fantastic opportunity to take part in a leading, global, cross-company, leadership mentoring scheme to champion female talent.


We are a signatory of the Armed Services Covenant and have received a Silver Award from the Employer Recognition Scheme. 




To all recruitment agencies: Saga does not accept agency CVs unless specifically engaged on the role by the HR Recruitment Team. Please do not forward CVs to our recruiters, employees or any other company location. Saga is not responsible for any fees related to unsolicited CVs.



Saga Group


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