Risk Manager
Tesco Insurance and Money Services
13 hours ago
Full-time
On-site
Surrey, 02
JobsCloseBy Editorial Insights
Tesco Insurance and Money Services is seeking an experienced Risk Manager to join the Risk & Compliance team in Reigate, Surrey, overseeing underwriting and broker relationships while aligning with Tesco plc’s strategy. You’ll help shape the risk framework, support ORSA activities, and provide second line oversight of financial, capital, reserving and insurance risks, reporting to the Head of Financial Risk and Risk Framework. What matters most is a proven general insurance risk track record, sharp data analysis and risk reporting, and solid PRA/FCA regulatory knowledge including Solvency UK. The role offers hybrid working, up to £70k DOE plus bonus and benefits, closing 9 Sept. To apply, tailor your CV to show ORSA, RCSA, risk appetite work, and governance engagement, plus concrete examples of influencing decisions and collaboration with Finance and Underwriting; indicate willingness to work 1-2 days onsite weekly.
General information
Job Title
Risk Manager
Ref #
9629
Location
Reigate -The Omnibus Building, Lesbourne Road, Reigate, Surrey, RH2 7LD
Department
IMS - Risk
Business Area
Risk & Compliance
Working time
Full-Time
Date Published
26-08-2026
Serving our customers, communities, and planet a little better every day.
Salary - Up to £70,000 (DOE) + annual bonus & benefits
Work Level - 2
Location – Reigate, Permanent
Office Attendance – Our hybrid working model gives you the best of both worlds - flexibility to work from home and valuable face-to-face time with colleagues. This role typically requires 1-2 days per week onsite.
Closing Date - Applications close on 9th September at 5pm
Why this role?
We're looking for an experienced Risk Manager to join our Risk & Compliance team, playing a key role in overseeing both our underwriting and broker relationships while ensuring alignment with Tesco plc's strategic objectives. Working closely with the Senior Insurance and Financial Risk Manager reporting into the Head of Financial Risk and Risk Framework, you'll help shape and embed our risk management framework, support ORSA activities, and provide robust oversight of financial, capital, reserving and insurance risks. This is a highly visible role, combining quantitative analysis, stakeholder influence and risk challenge to help drive sound decision-making across Finance, Pricing and Underwriting.
What you’ll be doing
• Planning and organising own workload daily to support the delivery of Finance and Underwriting work objectives.
• Working collaboratively with Risk & Compliance colleagues and first line colleagues primarily in Finance & Underwriting.
• Assist in the development of the organisation's Insurance & Financial risk appetite, tolerances and limits to ensure they are aligned to the company’s Strategy in order to inform business decision making.
• Assist with ORSA process activities such as stress testing and ORSA reporting.
• Assist in providing second line of defence oversight of and challenge to the business to identify, measure, manage, monitor and report on key Insurance & Financial risks, including regular RCSA assessments and validation of 1st line control testing.
• Support in drafting risk reporting to internal forums and other governance bodies.
• Contributing to stakeholder engagement through our business partner relationships.
• Supporting risk opinions on business nominated reviews or deep dives.
• Utilising our risk management system for monitoring and reporting purposes.
• Recommending changes to policies, processes, standards and practices.
• Helping develop procedures for a business area and monitoring their implementation in line with our risk management framework and regulatory requirements.
What we’re looking for (minimum criteria)
• Excellent communicator with the ability to utilise multi-mode communications that convey a clear understanding of the unique needs of different audiences.
• Ability to interact with stakeholders at all levels.
• Demonstrable track record in risk management, preferably in general insurance.
• Great understanding of risk assessment and data analysis.
• Be competent at review and report writing.
• Broad understanding of the regulatory framework within which UK general insurers operate.
And if you have any of these, even better
• Comfortable working independently or as part of the wider team, planning and organising your own work in line with the annual risk plan.
• Depth of knowledge of the insurance sector; able to demonstrate an understanding of how business operates and key business processes
• Breadth of knowledge of risk management frameworks and methodology with detailed knowledge and experience of Solvency UK; understands current trends and UK regulation
• Knowledge of both the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) regulatory framework and compliance/governance requirements
• Experience in developing procedures and monitoring their implementation.
• An understanding of Finance and Underwriting Risks
We welcome applications from everyone. If you’re excited about this role but your experience doesn’t align perfectly with every requirement, we’d still love to hear from you.
What’s in it for you
• A generous pension, with up to 7.5% employer contribution, depending on what you put in.
• Private Medical Insurance (WL2+) and virtual GP Service for you and your family.
• Performance related annual bonus.
• 7.2 weeks holiday, with the opportunity to buy more.
• Colleague Clubcard discount (10-15% + second card to share with someone else).
• Enhanced parental leave.
• Opportunities to Save and Buy as you earn.
• A place to get on - take advantage of our ongoing learning opportunities to help you achieve the job and career you want.
Interviews
As a Disability Confident Employer (Level 2), we’re committed to creating an accessible and supportive environment for all. We offer reasonable adjustments throughout the recruitment process, including interviews, to ensure every candidate has a fair opportunity to succeed.
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 part time and flexible working opportunities, at every level of the organisation.
Interviews are expected to be held shortly after closing date.
Why Tesco Insurance and Money Services?
Seeing your impact all around you: there's no better feeling.
Everything we do is about making things better. Not just for others, but for you too. It's why you'll get bags of choice and plenty of development. It's why you'll always be heard and find balance that works for you. It's why you'll feel totally at home in a place where everyone's welcome.
Lucky for us, we get to feel it all the time. Because whatever our role, we're helping our colleagues and serving our customers, communities and planet a little better every day.
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.
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.
Everything we do is about making things better. Not just for others, but for you too. It's why you'll get bags of choice and plenty of development. It's why you'll always be heard and find balance that works for you. It's why you'll feel totally at home in a place where everyone's welcome.
So, if you want a career where you can do good and feel good, you've found it.
Let's make everyday a little better.
Let's make everyday a little better.
Our story
Making Insurance and Money Services more rewarding and offering great value and choice - because we know little wins can make a big difference.
Delivering great customer service means having great people behind the scenes – people who understand our customers and are driven by doing the right thing for them. We offer colleagues a place where they can feel totally at home in a place where everyone's welcome, where they can be part of a great team focused on making a real difference for our customers.
We began life in 1997 and now help more than 2 million customers protect what matters to them.
We want to deliver a helpful service in everything we do and to make life easier for our customers. Our policies are really easy to manage online for our customers, but we know that being able to speak to our customer service staff when you need to is really important. This is why our customer service centres are open seven days a week.
We want to deliver a helpful service in everything we do and to make life easier for our customers. Our policies are really easy to manage online for our customers, but we know that being able to speak to our customer service staff when you need to is really important. This is why our customer service centres are open seven days a week.
Delivering great customer service means having great people behind the scenes – people who understand our customers and are driven by doing the right thing for them. We offer colleagues a place where they can feel totally at home in a place where everyone's welcome, where they can be part of a great team focused on making a real difference for our customers.
How to apply
We value our people and diverse teams and believe the variety of backgrounds and experiences make us stronger to achieve our goals.
Our colleagues are working hybrid, taking time to meet with colleagues in our offices for moments that matter, such as team catch ups, planning meetings and more. If you’re interested in finding out more about what a career at Tesco Insurance and Money Services looks like, click apply to find out more!