Royal London Group
Risk Analyst - Edinburgh/Wilmslow
Salary c. £33,000 - £40,800 + Excellent Benefits
Benefits - 9% bonus at target, 28 days holiday + stats, contributory pension
A 150 year old company founded on the principles of self-reliance and community, Royal London is the UK's largest mutual pensions, insurance and investment company. Group businesses provide around 9.1 million policies and employ 3,179 people across operations in London, Bath, Edinburgh, Wilmslow, Glasgow and Reading, with Group funds under management of £101 billion.
Owned by our members, rather than by shareholders, our financial performance is robust over both the short and long term. Our aim is to become the most trusted and recommended provider of insurance and investment products in the eyes of our customers.
We have an exciting opportunity for a Risk Analyst to join the Life & Pensions Team in Edinburgh/Wilmslow on a permanent basis.
The main purpose of this role is to support risk managers and senior risk business partners, ensuring the approach to risk management is progressed and embedded across all functions of the business. Providing support, advice and guidance on risk and control management within L&P Functions; producing necessary reports, operating processes and managing procedures effectively.
Representing L&P functions within Royal London Group as a subject matter expert in risk, producing high quality reports and outputs for functional teams and L&P senior management.
- Collating monthly/quarterly operational risk MI and reports for L&P Functions e.g. root cause analysis of risk events, maintaining and developing KRIs; reviewing KRI information, including in risk reporting.
- Ensuring all risk reporting is produced to a high standard in a timely manner (includes producing monthly MI on continuous testing and risk register actions progress).
- Monitoring and reporting progress against actions by control/action owners which have arisen as part of the Risk and Control Self-Assessment process.
- Monitoring & reporting L&P operational risks, liaising with Group Functions, and monitoring activity relating to issues.
- Maintaining risk registers and controls via the Archer and other systems.
- Identifying, analysing (including probability, impact and mitigating actions) and recording of new operational and financial risks.
- Providing advice to L&P functions regarding risk event reporting and incident escalation. Ensuring group requirements are met and activities are co-ordinated to ensure timely closure of events. Reporting progress on events via the regular risk reporting cycles.
- Providing risk and controls support to L&P functions, allowing owners to self-certify/attest against controls and report risks appropriately.
- Delivering change activity to improve governance and controls in L&P; providing input to and representing L&P functions in Group-wide risk management development initiatives, e.g. new risk acceptance process, Archer risk system maintenance.
- Participating in the delivery of change in L&P functions to ensure that appropriate controls are considered and in place, and that impact on operational and financial risk is considered.
- Reviewing planned audit activity / updating schedules and reporting deviations.
- Supporting Risk and Control Self-Assessment (RCSA) processes (including collation and reporting of L&P RCSA results, maintaining the overall process).
- Carrying out controls testing in line with plans and reporting results. Identifying actions to improve controls.
- Maintaining processes for controls and risk management within L&P functions, e.g. risk acceptance, risk events, escalations. Articulating and facilitating future requirements.
- Supporting and contributing to first-line challenge of operational and financial risk reporting and controls self-assessment.
- Supporting initiatives to embed risk within L&P functions.
- Responsible for maintaining and implementing appropriate Tier 1 policy processes and monitoring compliance within L&P functions; responsible for tracking and chasing the completion of mandatory CBTs (Computer Based Training) by L&P employees .
- Conducting investigations relevant to Governance and Risk, providing input to papers, assessment and reports and making suitable suggestions based on specialist knowledge, data and best practice.
- Supporting the preparation of operational risk scenarios for IMAP and surrounding processes supporting this.
- Representing L&P functions at appropriate outsourcing risk and governance forums
Skills, Qualifications & Experience:
The successful candidate will possess a proven analytical approach, excellent stakeholder engagement skills, strong attention to detail and be working in a similar role, ideally within life and pensions or alternatively the financial services sector.
- Understanding of process, risk and control management and assessment techniques, and how they can be applied to deliver outcomes for customers, regulators and the business.
- Understanding and application of the 3 lines of defence framework, risk management framework, control risk self-assessment process.
- Knowledge of L&P Functions Conduct risk obligations and application of these in day to day activities.
- Proven communication (written and verbal) and influencing skills
- Substantial problem solving skills
- Proven analytical skills; able to think laterally and conceptually
- Ability to prepare reports and present proposals plans/initiatives at Senior Management level
- Ability to deal with multiple issues, tasks and priorities concurrently
To apply, please use the 'Apply Online' link below.
For any further queries regarding the role, please contact or call him on .