Risk & Compliance Development Manager
- Recruiter
- Canada Life Limited
- Location
- Potters Bar, UK
- Salary
- Competitive salary
- Posted
- 16 Jul 2020
- Closes
- 30 Sep 2020
- Ref
- 1605052510
- Job role
- Compliance/risk
- Sector
- Accounting - Public practice
- Experience level
- Manager
Job title: Risk & Compliance Development Manager
Location: Potters Bar
Job type: Permanent
Who we are
Canada Life UK looks after the retirement, investment and protection needs of individuals, families and companies. We help to build better futures for our customers, our intermediaries and our employees by operating as a modern, agile and welcoming organisation.
Part of our parent company Great-West Lifeco, Canada Life UK has operated in the United Kingdom since 1903. We have hundreds of respected and supported employees committed to doing the right thing for our customers and colleagues.
Canada Life UK is transforming to create a more customer-focused business by providing our customers with expertise on financial and tax planning, offering home finance and annuities propositions, and providing collective fund solutions to third party customers.
What we're building
We now need a Risk & Compliance Development Manager to support the transformation and the future growth of the business within the Risk Function. The risk function will provide independent risk oversight and a governance framework for all risk related activities across Canada Life UK. In doing so, it will partner with the Business to understand their strategic objectives and offer practical and value-adding risk insights in order to optimize both short and long term decisions taken by the Business.
Job summary
Support the Chief Risk Officer by managing the UK Division's 2nd line Risk and Compliance Functions planning, and providing senior project and resource management support for the Risk and Compliance Functions' activities during the year. Work closely across the Risk and Compliance Teams to ensure effective implementation of Risk Management processes across business areas, including the effectiveness of the Business Unit Risk Officer (BURO) and Business Unit Compliance Officer (BUCO) resources in facilitating the relationship between Lines 1 and 2. Measure and monitor the effectiveness of the Function's work and wider risk and compliance management activities in the organisation and recommend actions to the Chief Risk Officer to address unsatisfactory outcomes.
What you'll do
1. Prepare and maintain the annual Risk Function and Compliance Function plans and calendar, ensuring that resources are allocated appropriately and associated deliverables remain on track, so that the teams' responsibilities in relation to oversight and reporting are met. Prepare Board papers that give sufficient insights for Board members to approve or request modifications to plans. Establish and maintain effective tools to enable the team to evidence 2nd line oversight and challenge to third parties including regulatory authorities and oversee the usage of those tools by the teams. Motivate and support the management and other members of the Risk and Compliance Teams and the wider organisation, as appropriate, to deliver the plan to a high standard and within the agreed timeframes using rigorous, but proportionate, project management disciplines. Execute the annual Risk Function Effectiveness reviews and lead the implementation of measures to assess the effect of culture on risk management effectiveness.
2. Co-ordinate engagement with Internal Audit ensuring joined-up planning and cross-reliance upon work performed (i.e. control assurance testing and oversight activities) across 2nd and 3rd Lines of Defence to create a Coordinated Activities Map. Ongoing engagement with Internal Audit to ensure work remains aligned throughout the year, agree changes to the Coordinated Activities Map as required and share knowledge and information. Prepare Board papers (in collaboration with Audit) for the Joint Committee that give sufficient insights for Board members to approve or request modifications to the Co-ordination report.
3. Identify requirements arising from GWL and CLG Risk Management and Compliance and work with the UK Risk and Compliance Management Teams to assess and implement as agreed. Work with GWL and CLG to represent UK interests and views, taking local business and regulatory requirements into account. Ensure activities of GWL and CLG impacting the UK Division's Risk and Compliance plans are incorporated and tracked. Liaise closely with GWL and CLG on their development plans, assurance activities and thematic reviews, to ensure the Risk and Compliance Teams are aware of the inputs they need to provide and to understand and facilitate communication of the wider demands on CLL's first line of defence teams.
4. Responsible for the development of schedules and material for the risk-related training of staff across CLL. Assist Risk Team management in carrying out the training. Maintain the Risk Intranet sites which include key information for staff. Provide regular communication on risk-related matters to the organisation to ensure a high level of risk awareness and continue raising the profile of the Risk Team.
5. Support both Risk and Compliance Functions in developing strong working relationships with 1st Line Risk and Compliance resources, in order to ensure a regular exchange of information on key issues and changes affecting the business. Responsible for supporting the Risk and Compliance Business Partners in the co-ordination and consistency of messages shared across all business units within which Business Unit Risk Officers (BUROs) and Business Unit Compliance Officers (BUCOs) are engaged.
6. Support the CRO in ensuring the success of the wider Risk and Compliance Functions, engaging with the full range of stakeholders, and ensuring communications between the Functions and wider stakeholders remains timely, efficient and targeted. Champion the three lines of defence model for risk management across CLL, to help support the implementation, embedding and maintenance of all aspects of an effective, pragmatic and appropriate enterprise risk management framework.
7. Senior project management responsibilities in relation to providing risk and compliance oversight and assurance of any special projects being carried out across the UK Division and outsourced service providers. Provide oversight and a central point of contact for Risk and/or Compliance input to other key strategic projects as agreed with the CRO (e.g. Oversight Optimisation).
Who you are
•Experienced project manager who is able to liaise with a range of stakeholders and who has previously worked with risk and/or compliance professionals.
•Working knowledge of risk governance practices and processes, as part of a wider enterprise risk management framework and associated regulations, including Solvency II.
•Working knowledge of embedding and maintaining an enterprise risk management framework.
•Working knowledge of second line of defence risk oversight activities.
•Experience in the life insurance industry.
•Strong communication skills, ability to motivate a team demonstrating a clear and articulate standard of written and verbal communication in a complex environment, tailored for all levels of management.
•Strong influencing skills, with experience of engaging with senior management in order to get desired outcome.
•Good interpersonal/networking skills, with the ability to maintain a variety of relationships with multiple stakeholders.
•Self-motivated, well-organised, pragmatic and able to perform tasks independently with a strong attention to detail.
•Proven track record at delivering under tight time pressure.
Qualifications
•Relevant project management qualification or similar industry / professional qualification
•Experience in risk management and/or compliance, and engaging with a wide range of stakeholders
What you'll like about working here
As a Canada Life UK colleague, you'll receive a competitive salary and comprehensive reward package including car allowance, income protection, private medical insurance and life assurance, along with a generous pension and bonus scheme. You'll also receive the support you need with your personal and professional development.
Our focus is to have an engaged, committed and motivated work force, operating in a high performing and collaborative culture. We want to create an organisation that offers opportunities for all our people to develop their skills and talent, and build rewarding careers with us.
Diversity and inclusion
Canada Life is committed to a diverse and inclusive workplace. Our role as an employer of choice is to provide the right environment for talented people to do their best work, by respecting, understanding and valuing individual differences.
Location: Potters Bar
Job type: Permanent
Who we are
Canada Life UK looks after the retirement, investment and protection needs of individuals, families and companies. We help to build better futures for our customers, our intermediaries and our employees by operating as a modern, agile and welcoming organisation.
Part of our parent company Great-West Lifeco, Canada Life UK has operated in the United Kingdom since 1903. We have hundreds of respected and supported employees committed to doing the right thing for our customers and colleagues.
Canada Life UK is transforming to create a more customer-focused business by providing our customers with expertise on financial and tax planning, offering home finance and annuities propositions, and providing collective fund solutions to third party customers.
What we're building
We now need a Risk & Compliance Development Manager to support the transformation and the future growth of the business within the Risk Function. The risk function will provide independent risk oversight and a governance framework for all risk related activities across Canada Life UK. In doing so, it will partner with the Business to understand their strategic objectives and offer practical and value-adding risk insights in order to optimize both short and long term decisions taken by the Business.
Job summary
Support the Chief Risk Officer by managing the UK Division's 2nd line Risk and Compliance Functions planning, and providing senior project and resource management support for the Risk and Compliance Functions' activities during the year. Work closely across the Risk and Compliance Teams to ensure effective implementation of Risk Management processes across business areas, including the effectiveness of the Business Unit Risk Officer (BURO) and Business Unit Compliance Officer (BUCO) resources in facilitating the relationship between Lines 1 and 2. Measure and monitor the effectiveness of the Function's work and wider risk and compliance management activities in the organisation and recommend actions to the Chief Risk Officer to address unsatisfactory outcomes.
What you'll do
1. Prepare and maintain the annual Risk Function and Compliance Function plans and calendar, ensuring that resources are allocated appropriately and associated deliverables remain on track, so that the teams' responsibilities in relation to oversight and reporting are met. Prepare Board papers that give sufficient insights for Board members to approve or request modifications to plans. Establish and maintain effective tools to enable the team to evidence 2nd line oversight and challenge to third parties including regulatory authorities and oversee the usage of those tools by the teams. Motivate and support the management and other members of the Risk and Compliance Teams and the wider organisation, as appropriate, to deliver the plan to a high standard and within the agreed timeframes using rigorous, but proportionate, project management disciplines. Execute the annual Risk Function Effectiveness reviews and lead the implementation of measures to assess the effect of culture on risk management effectiveness.
2. Co-ordinate engagement with Internal Audit ensuring joined-up planning and cross-reliance upon work performed (i.e. control assurance testing and oversight activities) across 2nd and 3rd Lines of Defence to create a Coordinated Activities Map. Ongoing engagement with Internal Audit to ensure work remains aligned throughout the year, agree changes to the Coordinated Activities Map as required and share knowledge and information. Prepare Board papers (in collaboration with Audit) for the Joint Committee that give sufficient insights for Board members to approve or request modifications to the Co-ordination report.
3. Identify requirements arising from GWL and CLG Risk Management and Compliance and work with the UK Risk and Compliance Management Teams to assess and implement as agreed. Work with GWL and CLG to represent UK interests and views, taking local business and regulatory requirements into account. Ensure activities of GWL and CLG impacting the UK Division's Risk and Compliance plans are incorporated and tracked. Liaise closely with GWL and CLG on their development plans, assurance activities and thematic reviews, to ensure the Risk and Compliance Teams are aware of the inputs they need to provide and to understand and facilitate communication of the wider demands on CLL's first line of defence teams.
4. Responsible for the development of schedules and material for the risk-related training of staff across CLL. Assist Risk Team management in carrying out the training. Maintain the Risk Intranet sites which include key information for staff. Provide regular communication on risk-related matters to the organisation to ensure a high level of risk awareness and continue raising the profile of the Risk Team.
5. Support both Risk and Compliance Functions in developing strong working relationships with 1st Line Risk and Compliance resources, in order to ensure a regular exchange of information on key issues and changes affecting the business. Responsible for supporting the Risk and Compliance Business Partners in the co-ordination and consistency of messages shared across all business units within which Business Unit Risk Officers (BUROs) and Business Unit Compliance Officers (BUCOs) are engaged.
6. Support the CRO in ensuring the success of the wider Risk and Compliance Functions, engaging with the full range of stakeholders, and ensuring communications between the Functions and wider stakeholders remains timely, efficient and targeted. Champion the three lines of defence model for risk management across CLL, to help support the implementation, embedding and maintenance of all aspects of an effective, pragmatic and appropriate enterprise risk management framework.
7. Senior project management responsibilities in relation to providing risk and compliance oversight and assurance of any special projects being carried out across the UK Division and outsourced service providers. Provide oversight and a central point of contact for Risk and/or Compliance input to other key strategic projects as agreed with the CRO (e.g. Oversight Optimisation).
Who you are
•Experienced project manager who is able to liaise with a range of stakeholders and who has previously worked with risk and/or compliance professionals.
•Working knowledge of risk governance practices and processes, as part of a wider enterprise risk management framework and associated regulations, including Solvency II.
•Working knowledge of embedding and maintaining an enterprise risk management framework.
•Working knowledge of second line of defence risk oversight activities.
•Experience in the life insurance industry.
•Strong communication skills, ability to motivate a team demonstrating a clear and articulate standard of written and verbal communication in a complex environment, tailored for all levels of management.
•Strong influencing skills, with experience of engaging with senior management in order to get desired outcome.
•Good interpersonal/networking skills, with the ability to maintain a variety of relationships with multiple stakeholders.
•Self-motivated, well-organised, pragmatic and able to perform tasks independently with a strong attention to detail.
•Proven track record at delivering under tight time pressure.
Qualifications
•Relevant project management qualification or similar industry / professional qualification
•Experience in risk management and/or compliance, and engaging with a wide range of stakeholders
What you'll like about working here
As a Canada Life UK colleague, you'll receive a competitive salary and comprehensive reward package including car allowance, income protection, private medical insurance and life assurance, along with a generous pension and bonus scheme. You'll also receive the support you need with your personal and professional development.
Our focus is to have an engaged, committed and motivated work force, operating in a high performing and collaborative culture. We want to create an organisation that offers opportunities for all our people to develop their skills and talent, and build rewarding careers with us.
Diversity and inclusion
Canada Life is committed to a diverse and inclusive workplace. Our role as an employer of choice is to provide the right environment for talented people to do their best work, by respecting, understanding and valuing individual differences.