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 Assurance 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 Responsible for ensuring that the Risk Framework and supporting processes are effectively, and consistently, deployed, engaged and understood across the UK Division, and within significant initiatives instigated by the Business Units. Responsible for providing assurance that the processes, tools and reporting, deployed by the Risk Team, maintain alignment to regulatory requirements, corporate strategy ambitions and global standards, instigating or participating in actions or programmes of work to remediate identified gaps and/or revised requirements. Support the Head of Risk & Governance in their role as Risk Business Partner, Shared Services & Corporate, providing effective and value-add risk support and advice for change initiatives (significant & BAU), risk reporting and governance arrangements, ensuring that appropriate training is deployed as needed.
What you'll do
Working with the senior stakeholders and the Risk Team, ensure that consistent and appropriate risk governance arrangements (e.g. Policy Frameworks) are in place for CLUK entities, complying with regulatory requirements, aligning to Group standards and providing a clear view of policy compliance and reporting across the region. For Operational Risk & Risk Governance alignment matters, working alongside the Risk & Governance Manager, this role is the Risk Team's senior gatekeeper with the Region and Group (LifeCo) not only ensuring that we deliver against requirements, but also that we manage any potential conflicts between these requirements and local regulation.
Working with Risk Business Partners across the region, and the Risk & Governance Manager, ensure that efficient and value-add risk reporting and aggregation processes and tools are in place, allowing key stakeholders to quickly engage with key risks, issues and changes to risk profiles
Work with and support the Risk Business Partners and the Risk & Governance Manager, in the design, development and deployment of regular processes that are required across entities e.g. Operational Risk Scenarios and associated capital estimates, design and approach for ICAAPs and associated work streams, annual current and emerging risk workshops with the Executive & Board and Risk Reviews / Deep Dives.
Responsible for the Risk & Governance Team's oversight and engagement with regulatory change activity ensuring that appropriate actions and programmes are in place to deploy changes required to the Risk Team's practices, processes and/or governance, liaising with Compliance, Business Units and Internal Audit as appropriate
Working with Compliance, facilitate a robust process to ensure that regulatory change activity impacting the Risk Team is monitored, tracked and ownership assigned
Responsible for ensuring that significant change activity is allocated LifeCo Change Management processes as appropriate (e.g. Initiative Risk & Control Assessment – iRCA), aligned with the Risk Opinion Standard. Provide updates and training to both the Risk Team and Risk Business Partners on LifeCo Change Management requirements, and engage with them in oversight activity as required
Working with the Risk Business Partners and Risk & Governance Team, develop, deploy and evolve Operational and Reputational Risk Appetite measures linked to key risk exposures, aligned to business strategy and which provide value-add metrics to assist with monitoring and driving strategy. As part of this, work with Compliance to align similar work being progressed for Conduct Risk
Support the Risk Business Partner, Shared Services & Corporate in oversight, risk challenge and stakeholder engagement activity as required, representing risk on governance & project forums empowered to input and make decisions
Engage with senior management and project teams to ensure that the risk mind-set, and three-lines-of-defence, is actively championed across Shared and Corporate services. Both in BAU and change activities, reinforcing our risk culture objectives
Negotiate with both internal and external stakeholders, engaging as required, to ensure that the Risk Framework remains aligned to regulatory expectations, and at least equal in quality and application to our main peers
Management reports, ensuring alignment to team plans and goals, performance tracking and providing support, guidance and training to develop their skills.
Who you are
Extensive experience in the life insurance industry.
Comprehensive knowledge of risk governance practices and processes, as part of a wider enterprise risk management framework and associated regulations, including Solvency II.
Experience in overseeing the management of operational risks and the various approaches to monitor, model and report on operational risks.
Ability to work through complex problems from multiple sources and involving competing stakeholders, to arrive at a consensus / agreed position.
Experience of managing and motivating a team
Experience of embedding and maintaining an enterprise risk management framework.
Experience of "second line of defence" risk oversight activities.
Strong communication skills, 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 negotiating 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.
Proven track record at delivering reporting requirements under tight time pressure.
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.