General insurer RSA, on Monday announced the appointment of Doug Stewart to the new role of chief risk officer for the UK and Western Europe.
From March 1, Stewart will be responsible for the governance of significant risks to the UK and Western European businesses, including strategic, insurance, reputational, operational and financial risk. He will report to William McDonnell, RSA Group chief risk officer.
At a time when global risks are becoming more interconnected and varied, the role of risk officer is becoming more important in businesses in general, not just insurance.
Steve Lewis, CEO of RSA UK and Western Europe, said: “Never before has the role of chief risk officer been so important. Doug’s oversight will play a key role in ensuring that we continue to deliver the best outcomes for our customers in a well-controlled, proportionate and sustainable way.”
Stewart joins RSA from Deloitte, where he spent seven years as risk director for its financial services practice. He brings significant risk management experience from the insurance, retail banking and regulatory sectors, and will ensure that RSA continues to enhance the operational effectiveness of its risk oversight and control assurance processes across Western Europe.
