Aviva’s risk director joins ORIC board
Aviva’s group operational risk director Michael Sicsic has been appointed as chairman of the Operational Risk Consortium (ORIC), an industry group which collects risk data for the insurance industry. In his two-year role, he will be responsible for driving ORIC’s international growth.
Sicsic has served on the board of ORIC since 2012 and has 18 years’ experience working in financial services globally.
“ORIC has a lot of potential in order to be recognised internationally as the authoritative source of operational risk intelligence and operational risk management practices for the insurance and re-insurance industry. Our focus will be to deliver excellent service to our current and future members and develop further our ’thought leadership’ capabilities. I’m excited about my new role and the future for the industry,” said Sicsic.
Alison Macdonald, operational risk director (insurance), Lloyds Banking Group, has also been appointed to the ORIC Board, while Caroline Coombe, head of ORIC, has been appointed to CEO.
“Michael’s invaluable global experience, his credibility in operational risk, as well as his strong contacts within the global marketplace will assist ORIC in delivering against its vision for 2014 and beyond. This is an exciting phase in ORIC’s development and I am looking forward to working with Michael to further enhance the operational risk intelligence we provide our members,” said Coombe.
Sicsic replaces Alex Hindson, chief risk officer of Amlin AG.
