A strong culture of risk and compliance

Barbican maintains a strong culture of risk and compliance, investing in the best resources possible to not only comply with regulatory requirements but to actually exceed them.

We promote the importance of getting things right - and the need to behave and operate in a way that enhances the reputation of our industry and ultimately protects the customer. We have a firm compliance regime and adopt best practice in all areas of risk management. Barbican’s Risk and Capital Committee, reporting directly to the Board, exercises strong and effective control over all material risks, drawing on reliable and comprehensive management information.

We also believe good risk management isn’t about blindly following sets of rules and regulations, but about finding a way of applying the rules in a sensible, practical way that benefits our business.

Our compliance culture emphasises ethical behaviour at every level of the business. Our formally stated whistle-blowing policy encourages staff to speak up freely, and without fear of any adverse personal consequences, on any concerns relating to malpractice or unethical behaviour.

Solvency II

Solvency II affects our business just as it does the whole industry. Barbican adheres to a policy of investing in the best resources possible to comply with and exceed Solvency II and ERM requirements.

In overall charge of this critical area of our business is Barbican’s Director of Risk and Governance, David Russell.

 

David Russell
Director of Risk and Governance

David has in-depth experience of risk, regulation and regulatory policy from all areas of the insurance industry. Prior to taking up his position at the Barbican, he was Head of Regulatory Affairs at RSA Group, where he coordinated the group’s activities on Solvency II, making an active contribution at European institutions and at industry working groups.

With regulatory experience going back to the mid 80s, David joined the FSA at its inception. He was responsible there for the supervision of Lloyd’s, developing and implementing much of the new FSA regime for the market. He developed and implement the prudential requirements for insurance intermediaries, before joining Lloyd’s in a senior compliance role where amongst other achievements he helped oversee the introduction of ICAS.

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Teresa de Nobrega
Risk and Compliance Manager
Tel: +44 (0)20 7082 1923
Mob: +44 (0)7872 506602
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Before joining the insurance industry, Teresa worked in the compliance and regulatory area for overseas companies, She entered the insurance industry in 2004 at Lloyd’s in the Worldwide Markets Department, now known as International Regulatory Affairs. She was part of the Latin American and Caribbean regions International Compliance team, who were responsible for keeping the market informed about all regulatory licensing requirements in those countries. Since then she moved into Lloyd’s syndicate compliance roles, the most recent being Assistant Compliance Officer at Liberty Syndicates. Teresa was appointed Compliance Manager at Barbican in November 2009.

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Phillippa Smith
Risk Manager
Tel: +44 (0)20 7082 1975
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By joining Barbican in July 2011, Phillippa moved across to the insurance sector proper after a couple of three year stints with regulatory bodies – first the Law Society and, most recently, the Financial Services Agency where she worked within the wholesale insurance team dealing with Lloyd’s syndicates.

Outside of work, Phillippa has quite a few sporting interests – including playing hockey.

 

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David Horan
Catastrophe and Accumulations Manager
Tel: +44 (0)20 7082 1940
Mob: +44 (0)7525 802968
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David Horan began his career at RC Barber's Syndicate in 1990 as an underwriter's assistant. Later, he joined Wasa International (now SIRIUS) as part of the Worldwide Property underwriting team. His next move was to DP Mann in 1998, working in the D&F property team and encountering catastrophe models for the first time. 

In 2002, he joined Ascot Syndicate as Assistant Catastrophe Manager and from here went on to head up Markel International's Catastrophe Management department. 

David Joined Barbican in May 2008. His role means he is responsible for maintaining and developing all aggregate and RDS protocols and procedures for the entire syndicate.

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Lisa Hadaway
Catastrophe Analyst
Tel: +44 (0)20 7082 1941
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Lisa Hadaway graduated from Brunel University with a 2.1 class degree in Environmental Hazards and Science in 2006.

She joined Barbican as a Catastrophe Analyst in 2008. Prior to this, Lisa was a Corporate Customer Care Executive at Avis.

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Nicola Webb
Catastrophe Analyst
Tel: 020 7082 1943
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Nicola came to Barbican in January 2011 direct from QBE where she was a Georisk Analyst assisting underwriters in modelling commercial property risks against their exposure to earthquake, windstorm and flood perils.

Her university degree has proved particularly useful in her career to date, having attained an MSc in Geophysical Hazards at University College London.

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Robert Metcalfe
Data Analyst
Tel: +44 (0)20 7082 1944
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After leaving university in 2009 with a masters degree in geography, Robert was quick to apply his knowledge in the environmental sector. While at the Environment Agency, he organised a period of work experience within the Geo-risk CAT modeling team at QBE.

Having gained this insight into the insurance market, Robert applied successfully to join Barbican’s Exposure Management department in February 2011.

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