Programme Manager - Solvency ll (Insurance)

Centrica is a top 30 FTSE 100 company. We have the vision to become a leading integrated supplier of energy and related services for our chosen markets and to maximise value to our shareholders. Our major brands include British Gas, Dyno-Rod, Direct Energy (in North America) and Centrica Energy.

British Gas supplies energy to residential and business customers as well as delivering the UK?s premier heating and electrical care, installations and drainage services to home customers. British Gas Insurance Limited (BGIL) is the recently FSA approved business, within Centrica, that British Gas will utilize to expand our insured consumer products portfolio. BGIL is recruiting a Programme Manager to focus on the Solvency II role out as a key member of the senior insurance team.

Programme Manager - Solvency II (Insurance) - The Overview:

• Salary up to circa £100,000. Package up to circa £150,000
• Location - Staines, Middlesex (TW18 3BY)
• Platform to create a top 10 UK insurer within a 2-3 year timeframe.
• Leadership growth opportunity within a top 30 FTSE 100 company

In parallel with this British Gas insurance roll-out, the insurance industry is introducing Solvency II which represents the largest ever change to insurance regulation in the European Union. This unique role will have access to all areas of our insurance business, providing the candidate with a great opportunity to be part of a fast growing new entrant into the exciting and changing world of insurance.

Programme Manager - Solvency II (Insurance) - The Vacancy:

Reporting into the Finance Director for British Gas Insurance (a member of the Executive Team); the Solvency II Programme Manager will be responsible for the following.

Project Mobilisation:

• Review and agree the Solvency II project in terms of reference, timelines, deliverables and capacities of main persons involved. Review high level planning assumptions and validate Solvency II implementation strategy.
• Review the mapping of the gap analysis to British Gas Insurance Limited organisation, including (i) systems, (ii) data, (iii) processes, (iv) reporting, and (v) capabilities.
• Review related ongoing projects and activities, the components of such ongoing project to be rolled into the Solvency II Programme. Review the scope, budget and plans of these projects to ensure alignment with the Solvency II Programme objectives, deliverables and timescales;
• Ensure delivery to key regulatory milestones and guidelines and and manage key risks, issues, assumptions and dependencies of the project level.

Business Analysis:

• Review high level design for the Target Operating Model (TOM), defining responsibilities across the Solvency II project. The TOM needs to provide a basis for understanding the impact to: policies control standards, organisation design, process design and IT architecture.
• Develop the detailed design, assessment and risk allocation processes for solvency capital and economic capital; to work closely with Finance, Risk and underwriting functions to develop processes regarding pricing, risk transfer and investment strategy.
• Implement SII programme tracking and reporting monitoring progress from current state, to be state and SII requirements, clearly evidencing gaps closures with documentations and controls to FSA/SII standards.
• Contribute to the development of the company?s internal capital modelling capabilities to meet Solvency II standards going forward
• Undertake dry-run within the ERM Solvency II programme which includes developing detailed implementation and resourcing plans to support entering into the first phase Internal Models Approval process (IMAP) from April to October 2010.

Programme Manager - Solvency II (Insurance) - The Person:

The successful Programme Manager - Solvency II must possess all the following experience.

This must be clearly stated throughout their CV:

• Proven leadership and delivery of Solvency II for a complex UK regulated insurance company (or division). The size and volume of the underwriting function should mirror that of any FTSE 250 or FTSE 100 insurance company.
• Proven ability to provide guidance and strategic direction as part of a senior leadership team (of FTSE 100 company size) to deliver on the robust growth of the business with regards to Solvency II.
• Leadership and program management experience within a large consumer led company with proven successes of delivering business plans, financial targets and regulation within the insurance sector.
• Proven ability to interact and manage strong relationships with the FSA; have a track record of business partnering the FSA to develop a new growth business and the business strategy.
• A people leader who has successfully coached, mentored and developed teams to deliver on objectives. Also, proven leadership skills engaging a broad audience, influencing and negotiating on strategy and direction of the business (internal and external).
• Proven experience of interacting with the Board to shape the structure of the business to grow the breadth and depth of insured product portfolio.
• A subject matter expert in Solvency II with proven experience of leading Solvency II projects.

British Gas Insurance is entering a phase of substantial growth and the Programme Manager - Solvency II will be integral to the regulatory success of this business. As the business grows we can provide the successful candidate with an excellent career platform for executive level or general management opportunities.

All applications must be made on-line, click here to apply. Please upload your cover letter and CV as one document. For specific queries or if you have difficulties uploading your CV, please contact James Dowling on 07789 576 266.

This role is being handled by the Centrica recruitment team and NO agency contact is required.