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Conduct Risk Manager

Juniper Green, UK
Closing date
26 Sep 2020

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Job Details

The role:

AUK Regulatory Risk promotes a strong risk culture, focusing on achieving fair outcomes for customers, balancing the needs of AUK with the need to mitigate regulatory risk. As part of the wider Risk Function, the team forms the second line of defence, primarily responsible for regulatory and conduct risk and for developing and implementing AUK's Regulatory Risk Management and Financial Crime frameworks. This includes setting and maintaining the Integrity Risk Universe and appetites; providing assurance on compliance with relevant regulatory rules and requirements; overseeing compliance with AUK risk policies; and providing technical input and support in the delivery of AUK's strategic and business developments.

Summary of Role:

Assists the Regulatory Risk Senior Management team to identify, manage and control regulatory risks across the Aegon Group in the UK. The role holder will contribute toward delivery of the Regulatory Risk plans. The role will focus on a speciality in Regulatory Risk within the Monitoring and Assurance or Change and Policy teams. The roles will cover integrity risk and will provide expert advice, oversight and challenge whilst collaborating with Senior Management during the implementation of regulatory and strategic projects, consultancy, monitoring reviews and identification of regulatory change. The role's scope will cover all AUK business areas including life and pensions, the platform, distributor firm and Stonebridge.

External Relationships:

  • Liaises where relevant with peer companies to promote best practice.
  • Liaise with external parties (including regulators) to keep up to date with business practices.
  • Regular contact with regulators relating to external regulatory change, approved persons and Regulatory Reporting where required.

Internal Relationships:

  • Develops and maintains relationships with AEGON executive and senior management across the business.
  • All areas of the Risk function.
  • Internal Audit.

Key Tasks:

Provides technical consultancy and advice on regulatory queries

Contribute to the AUK Regulatory Risk governance reports to ensure visibility of regulatory issues and escalate concerns clearly.

Contributes to the overall department plans and supports the development of key processes to ensure Regulatory Risk function maintains an effective control environment.

Key Tasks (Monitoring):

Leads monitoring and assurance activity that proactively reviews and challenges the adequacy and effectiveness of the relevant control environment to ensure the right regulatory and customer outcomes are agreed and delivered.

Provides assurance and monitoring reports that summarise the effectiveness of control environments, highlights regulatory risks and recommends actions for improvement, highlighting key areas of concern to facilitate prompt escalation where necessary. Positively influence senior management to complete agreed actions within timescales so weaknesses are addressed.

Oversee, in conjunction with risk colleagues, the resolution and management of risk events by the first line to reduce exposure to regulatory risk(s).

Provide oversight of key outsourcers through attendance at key governance meetings and reviewing relevant risk MI with the aim of providing assurance and advising on potential risk(s) to the business.

Key Tasks (Change):

Supports the business in the development of new strategies, business proposition and ensures regulatory change and strategic programmes are implemented compliantly, whilst assisting AUK management to deliver innovative solutions to maximise business opportunities

Interprets, analyses and communicates clearly the impact of regulatory change ensuring the appropriate management actions are in place and are progressed on a timely basis. Highlighting opportunities to influence the regulator's strategy to AUK's advantage and helps develops internal compliance policy where required.

Manages the overall regulatory reporting and approved persons frameworks overseeing timeliness of regulatory submissions and applications to ensure Aegon Group in the UK complies with the regulations.


  • Strong leadership skills and can work on own initiative with very little supervision.
  • Ability to plan and prioritise own work and other resources when required to deliver regulatory risk plan.
  • Excellent problem solving and research skills with ability to identify risks, analyse problems and assess complex regulations.
  • Ability to deal with and respond to variable challenge and to constructively challenge executive and senior leadership team when appropriate to ensure that the right regulatory and customer outcomes are met.
  • Ability to investigate and evaluate information and effectively present in a clear, understandable manner.
  • Excellent communication (written and verbal) and influencing skills.
  • Ability to convert complex regulations into easily understood language for a wide audience
  • Ability to positively collaborate with Senior Management.
  • Build and maintain strong relationships both within and out with the Risk function.
  • The role holder will act as a coach, mentor and role model to staff across the Risk function.


  • In-depth knowledge of the regulatory environment (including the European context) and is likely to be seen as a technical expert in their field.
  • In-depth understanding of AUK's propositions (including products, services, platform and distribution) and how the regulations apply to them.
  • In-depth understanding of the governance arrangements within AEGON.
  • Good understanding of operational risk methodology, for example, risk identification, assessment and mitigation methodology, regulatory risk appetite and risk tolerances.
  • Strong technical knowledge and experience of monitoring and assurance including sampling and problem solving techniques and/or experience of delivering external regulatory changes and supporting strategic change in a project environment.


  • At least 2 years' experience operating at a senior level within a financial services Regulatory Risk function.


  • Degree qualified or equivalent relevant professional qualifications would be desirable.

How will we reward you?

This is a full time role with a competitive salary dependent on experience. In return, we can offer you a range of financial services benefits including:

  • Non-contributory Pension between 8% and 12% dependent on age.
  • Flexible benefits including private health care, income protection and life assurance with additional voluntary benefits available.
  • Subsidised on-site restaurant including Subway and Costa.
  • Free on-site multi-story car park.
  • On-site gym facilities.

Please submit your application by the closing date 02 October 2020.
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