Department:Risk Reporting to:Head of Risk Location:London Salary: Circa £65,000
The Client Our client is one of the leading distributors of financial advice in the UK. Established over 15 years ago, they now operate across all markets, from pension and investment advice to mortgage planning, protection and insurance. In 2017 they were one of the most successful and fastest growing financial services businesses with net revenue was in excess of £70m.
Today they have over 3000 advisers that have selected them to develop and grow their businesses due to their size, financial strength, and people with the knowledge and expertise to help them achieve more for their clients/customers.
Main purpose of role The purpose of the role is to work with the divisional Head of Risk and broader Group Risk function in the development and maintenance of the Operational Risk Framework across the organisation
Key Responsibilities and Scope of role
Risk Control Self Assessments (RCSA) · To deliver regular insight, support and challenge to the 1st Line Businesses RCSAs and to see that process is embedded across the organisation · Review the Risks and Actions from each RCSA cycle for robustness · Support and oversee the completion of the 2LOD RCSA · Conduct control reviews on key controls identified during the RCSA to ensure that they are suitable and effective in maintaining identified risks within appetite · Design and deliver ongoing training in relation to RCSA · Prepare RCSA reports for relevant committees or forums providing insight and value from the process · Drive the implementation of a controls testing programme across 1st line to include the delivery of training, consultation and challenge
Risk Events · Design and deliver audience specific training on risk events and internal controls · Monitor adoption and embedding of the Operational Risk standards across the business. · Provide support to the 1st Line in the active management and ownership of risk events overseeing satisfactory closure providing robust challenge · Conduct root cause analysis for material events/systemic events in line with company standards · Prepare regular Risk Events Reports to be shared with the wider risk team and relevant governance forums Letter of Representation (LoR) · Oversee the successful delivery of the semi-annual attestation in line with the wider Group requirements · Provide reports to appropriate forums such as the Operational Risk Oversight Group and Executive Risk & Customer Forum · Ensure that the LoR standards documented process is maintained and up to date
Governance · Prepare reporting for various governance committees and forums · Attend governance meetings as necessary or as a delegate deputy for the Head of Risk Risk Assessment · Perform Risk assessments on transformational change and new processes to identify risks and challenges · Work with the 1LOD to find solutions, whilst holding the 2LOD role of providing support and challenge
Risk Acceptance · Oversee Risk acceptance process with Risk Analyst
General · Provide general support to the Head of Risk & Chief Risk Officer as required to achieve the overall team objectives · Work alongside the rest of the 2nd line Risk team to ensure that all types of risks faced are effectively identified, monitored and managed within appetite · Further develop and maintain the relationship with the broader Group Risk community and other Business Units to ensure that best practice is shared and Group expectations are met · Contribute to the planning and delivery of an annual programme of thematic risk reviews · Establish strong working relationships with key stakeholders across both 1st & 2nd Line to support in the successful delivery of key objectives · Positively contribute to the promotion and monitoring of continuous improvements in Risk Culture across the1st Line · Provide Operational Risk advice and consultancy to Senior Leadership and Executives · Lead on the implementation of the Operational Risk System.
Qualifications required · Qualified to degree level or relevant professional qualification desirable · 3 Years’ experience in a financial services company or role preferred
Experience required · Significant experience gained within wealth management, insurance or retail banking sector from a distribution perspective · Experience and knowledge of the regulatory environment within the UK wealth management sector · Thorough knowledge of financial advice processes · Preferable that experienced with regulatory engagement · Excellent working knowledge of Word, Excel, Outlook · Possessing strong attention to detail with an ability to understand and link risk indicators · A strong verbal and written communicator |