At M&G our vision is: to become the best loved and most successful savings and investment business and we're looking for people who are excited about joining us on our journey. We're digitally transforming and investing heavily in technology and innovation to develop new and improved customer propositions that really raise the bar for our customers. To help us achieve our vision we're looking for exceptional people who live our values and behaviours and who can inspire others; embrace change; deliver results and keep it simple.
We know that an inclusive environment makes us more accessible and ensures we attract, engage, promote and retain exceptional people. We welcome applications from all individuals regardless of age, gender/gender identity, sexual orientation, ethnicity/nationality, disability, or military service and welcome those who have taken career breaks. We will consider flexible working arrangements or home working arrangements for any of our roles.
What you can expect from us: We are committed to creating an environment where you can be exceptional at all you do. To help us deliver this, we promise to:
Challenge Your Limits by creating a stimulating working environment and providing opportunities for you to be involved in meaningful and challenging work
Support Your Aspirations with a commitment to learning and development that helps you achieve and build your experience with people who want you to succeed
Value Your Input whereby leaders and managers will involve you in key decisions, listen to your thoughts and recognise the important contribution you make
Balance Your Life through a work life partnership that focuses on making this an inclusive, diverse and friendly place to work and offers the flexibility and support that enables everyone to be at their best
How do we support our employees: All M&G plc employees will be supported in the workplace through our LifeWorks employee assistance programme which is run by Canada Life. If you need counselling, confidential financial or legal advice. T he service is available 24 hours a day, 365 days a year and offers access to qualified professionals who can provide specialist information, advice and support on many issues. It offers a broad range of services, including help with family issues, maintaining work/life balance and mental health support. The Role:
The Head of Controls and Assurance Governance, Quality Control and Remediation will sit as part of the GCO Leadership team and will be accountable for strengthening risk governance, quality, enhancements and training within the 1st line of defence (1LoD). Specifically, the Head of Governance, Quality Control, Remediation and Training will undertake the following activities working collaboratively with other members of the GCO leadership team:
● Establish, lead and maintain business and functional risk governance mechanisms ● Coordinate escalations ● Facilitate challenge of appropriateness of acceptances and exposure levels ● Provide review and challenge / thematic review over Investment ● Enhanced regulatory change / expectation programmes ● Lead / coordinate / advice on material remediation activities ● Lead Training
Key Work Level Accountabilities:
Manager or Expert:
For people managers, accountable for managing and motivating others to ensure quality of delivery to customers and stakeholders
For technical specialists, accountable for delivering expert advice or service, using specialist knowledge and subject matter expertise
Applies judgement to deliver outcomes, evaluating a range of potential solutions, considering the impact for customers, cost and risk
Manages conflicts that may impact delivery
Challenges upwards given knowledge of delivery and awareness of complex systems and the broader picture
Identifies and anticipates need for changes to continuously improve quality and efficiency of output
Manages resources and risks using expert judgment, know-how and experience
Key Responsibilities for this role:
Development and maintenance of Line 1 op risk management and governance structure
● Development of Governance and escalation processes enable effective risk management and provide appropriate oversight and insight of operational risk exposures.
Act as secretariat for Line 1 operational risk forums
● Development and implementation of governance forums ToR ● Development of MI requirements ● Lead in the coordination of regular reporting ● Analyse trends, anomalies and behaviours for risk and control management reporting
Coordination of escalations
● Coordination of escalation aligned with M&G escalation requirements and committee terms of reference and SMCR responsibilities ● Coordination and documentation of response post escalation ● Continued oversight of actions agreed as part of response
Providing oversight and effective challenge over operational risks to influence senior management decision-making.
● Robust and independent challenge of risk and control exposures, acceptances and responses ● Review and challenge policy application, completeness and appropriateness for addressing risk. ● Review and challenge appropriateness of investment / control enhancement as part of transformation activities
● Coordination of regulatory change / enhancement programme related to operational risk
Lead / coordinate / review material remediation activities
● Lead and / or provide risk management support, advice and guidance for risk remediation activity ● Provide Issue management and remediation oversight through monitoring of open issues, remediation prioritisation and progress and validating that 'closed' have been appropriately addressed. ● Confidence that issues are being appropriately addressed, in a timely manner and in order of significance and priority.
Conduct regular 'deep dive' and scenario risk reviews
Ensures proactive risk management within M&G, particularly in emerging risk areas
Lead Line 1 Training implementation
● Drive improvements in risk culture across business functions ● Share and promote operational risk management best practices, thought leadership and consistency in approaches across the business ● Provide operational risk management training and education to all levels of employees
Key Knowledge, Skills & Experience:
Proven experience as a senior member of Operational Risk Management Line 1 or 2 within a Financial Services firm.
An excellent understanding of modern governance, risk and control frameworks, including the 3 lines of defence.
Expert knowledge of Operational Risk requirements and regulatory expectations
Expert knowledge of Operational Risk remediation processes
Expert knowledge of processes, risks and controls in a asset management context
Strong knowledge of operational risk embedding, including training, behaviours and incentive processes
Strong background in dealing with - and challenging - senior stakeholders.
Strong networking and senior stakeholder and regulatory management skills and ability to negotiate and influence effectively.
Maintains a strong understanding of up-to-date understanding of industry best practices.
Experience with understanding and translating complex business requirements in a fast-paced, evolving environment.
Inspiring and collaborative leader; engages with teams to make change happen.
Continuous improvement mind-set; challenges the status quo and seeks self-improvement.
Work Level: Manager / Expert Recruiter Name: Joseph Scott Closing Date: 22/1/21
We live by four behaviours at M&G and we ask all our employees to:
Inspire Others - Support and encourage each other, creating an environment where everyone can contribute and succeed
Embrace Change - Be open to change, willing to be challenged and able to adapt quickly and imaginatively to new ideas
Deliver Results - Focus on outcomes, set high standards and deliver with energy and determination
Keep it Simple - Cut through complexity and bureaucracy, be clear and decisive and never overcomplicate things