Head of Prudential Risk

Job Introduction

Join Saga at an exciting time as we embark on a period of transformation and growth, investing in our technology and our people, leading the market with innovative insurance and financial products. As Head of Prudential Risk, reporting to the Insurance CRO, you will lead the design, implementation and oversight of the enterprise risk management framework in respect of all prudential and financial risks for Saga Insurance, and especially its insurance carrier, AICL.

As the leader of the team providing 2nd LOD for AICL, you’ll act as the key contact for the AICL management team on all matters to do with risk. You will also lead for both AICL and SSL (the in-house broker) on all financial risks, including insurance, credit, capital, market, model and liquidity risk.

You’ll be a strong communicator, with the ability to influence at all levels, including to the regulators in Gibraltar and the UK. You will also be a qualified financial professional with demonstrable knowledge and experience within a financial services business.

Role Responsibility

  • Providing input to the Head of Enterprise Risk on the design, implementation and oversight of the prudential and financial components of the enterprise risk management framework used throughout Saga Insurance.
  • As part of the above, ensuring that there is a fit for purpose, comprehensive, efficient and effective insurance, credit, capital, market, model and liquidity risk framework and procedures, that are adopted by the 1st LOD.
  • With the Head of Enterprise Risk, ensuring that there is a clearly articulated and approved framework for risk appetite, and appropriate prudential and financial risk appetite statements that support senior management decision making and formation of strategy.
  • Identifying, developing and deploying appropriate prudential and financial risk management tools, techniques and strategies to ensure prudential and financial risk management across Saga is value adding and contributes towards the overall strategy and performance of the business.
  • Actively promoting a risk culture that encourages appropriate risk taking, aligned to strategy and risk appetite, with effective and timely response to risk events according to the risk they present to the business.
  • Enabling all AICL employees to have a sound understanding of the Enterprise Risk Management framework as it is relevant to their individual roles through formal training, informal discussion, online tools, policies and guidance documents.
  • Working closely with the Compliance function to ensure Conduct Risk is sufficiently embedded within the enterprise risk management framework for AICL
  • Working closely with the Head of Enterprise Risk to ensure that the enterprise risk management framework is appropriately tailored for AICL.
  • Presenting to relevant committees (Boards, Board Committees, Executive Committees) on relevant topics in prudential and financial risk management.
  • Monitoring the finances of the Saga PLC group to provide second line input on questions of Group solvency and liquidity.

The Ideal Candidate


  • Qualified in a relevant professional area (FIA, ACCA, CIMA, CFA) or equivalent
  • Risk Management Qualification (CERA, IRM) preferable
  • Relevant industry risk experience at a senior level.
  • Proven track record of working effectively with senior management on the risk agenda.
  • Experience of working in a Solvency II regulated environment.


  • Strategic thinking.
  • Leadership Skills.
  • Business Acumen.
  • Communications skills.
  • Stakeholder Management skills.
  • Change Management.
  • Ability to constructively challenge the status quo.


  • Precision Pace - Always owning and making things happen.
  • Empathy – Always aware of others.
  • Curiosity – Always asking why.
  • Collaboration – Always one team, the Saga team!

Package Description

Our people are everything to us. The way they deliver exceptional experiences every day for our customers, for their colleagues. The way they own what they do. Their 'Why's it like that?' curiosity. How they always think of others and work together to get things done. For us, for you, make do will never do. Good enough? Not even close. Come and do the best work of your life alongside lovely colleagues. Come to Saga.

The standard benefits when you join Saga include:

  • Remote working encouraged, with travel to London and/or Folkestone as required 
  • 25 days annual leave plus bank holidays with 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
  • 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 and 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 as we are champions of age inclusivity.

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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