Operational Risk Specialist – EPL1121

Job Description

As Operational Risk Specialist you will have specific responsibility for supporting Line 1 to implement and embed the risk management framework across the business. This will be in line with principles and rules for managing Operational Risks across the Group and must be within the Board’s stated Risk Appetite. You will also work closely with Line 1 during the Risk & Control Self-Assessments. Working with stakeholders at all levels of seniority you will be providing insights, advice and constructive challenge.

Role Responsilbities

– Support the Head of Risk to ensure the Board and Risk committee feel sufficiently informed about risk; and that business practices are developed in line with best practice.

– Constructively challenging the degree of compliance with the Risk Appetite Statements and make recommendations as appropriate to strengthen the arrangements.

– Review of Risk Appetite Statements and reporting to the Board on the suitability of any proposed tolerances, having regard to the Group’s capital resources and Business Plans.

– Review of significant strategic initiatives and report to the Board on the risk and capital assessment carried out in support of such proposals.

– Ensuring the Group operates within an appropriate and agreed risk management framework.

– Support with writing accurate, clear and concise reports for Management and the Board; providing top-of-mind, insightful consolidated risk position across the group, proactive and forward looking that supports risk-based decision making.

– Work closely with Line 1 to develop and embed appropriate monitoring measurements in response to risk exposures and risk appetite, such as key risk indicators. Regularly obtain and review the results of the monitoring measurements
from Line 1.

– Work closely with Line 1 during product development, client take-ons, transformation projects and other key corporate change activities for appropriate risk identification.

– Support Line 1 with undertaking the tasks associated with Risk and Control Self-Assessment (RCSA) process.

– Escalate material operational risks clearly and ensure that appropriate root-cause analysis is completed and the control environment is strengthened.

– Review and challenge recommendations received from the business to manage risks back within appetite; and to risk accept.

– Undertake risk and control “deep dive” reviews across the business, identifying areas of control improvement and agreeing appropriate actions with local management.

– Manage the annual review process for Risk Policies with the relevant stakeholders.

Skills & Experience Required

– An in depth understanding of the risk and financial drivers of the life insurance industry and/or investment platform sector, with relevant professional qualifications or extensive experience in a key role.

– Risk management as well as risk frameworks and reporting.

– Sound understanding of different categories of risk from a technical and operational perspective.

– Broad commercial experience with experience in the financial services sector, particularly the life insurance industry and/or investment platform sector.

– Experience of operating in a multi‐jurisdictional environment.

– Experience of working in a business going through continuous upgrading, change and growth.

– Understanding of market knowledge and regulations/legislation within industry, ideally from the financial services sector.

– Skills in effective communication, professional scepticism, due care, report writing, data analysis and training of other staff

Salary & Benefits

£45,000+ dependent upon qualifications & experience.

This client also offers the following benefits package:
– 36 days annual leave, inclusive of Public Holidays
– Generous discretionary bonus scheme
– Voluntary “double matching” pension scheme
– Income Protection
– Life Assurance
– Private Medical Insurance (after qualification period)
– Free car parking
– On site gym