Risk Manager

Career Family, Level & Title: Audit, Compliance & Risk, Intermediate, Lead Professional/Manager Job Type: Fixed Term Contract 9-12 months Location: Dublin

Attracting the best

We have an incredible opportunity to join us here at Phoenix Group as a Risk Manager to join our European Risk team for a fixed term contract to aid in the effective integration and consolidation of key functions within our European business unit.

Who are we?

We want to be the best place that any of our colleagues have ever worked.

At Standard Life International, we believe everyone should have a future to look forward to, and that means looking after our customers, our shareholders, and our people. Standard Life succeeds because of our people – our skills, passions and experience. We will help you grow and progress by acknowledging your talent and rewarding you fairly. In return, you'll give us your energy, enthusiasm and the drive to deliver results.

We are a part of the Phoenix Group. Phoenix Group are the UK's largest long-term savings and retirement business with c.13 million customers and c.£300 billion of assets under administration. As a market leader and FTSE100 organisation, we understand that our scale and expertise means that we have a key role to play for our customers, colleagues and our communities to help as many people as possible secure a life of possibilities. We are tackling key environmental and social issues such as transitioning our portfolio to net zero by 2050 – but we're not done yet.

We've seen huge growth and change, and this means there is enormous opportunity for our 7,000 colleagues to grow alongside us.

Flexible working

You can expect to work in a hybrid manner with time spent working in the office and at home. We believe that work/life balance offers benefits for customers as well as ensuring that you can balance a successful career with your life outside of work. We will discuss flexibility, what is important to you and balancing this with business requirements during the recruitment process.

Benefits: 10% Non-Contributory Pension (matched up to a further 2%), Funded Industry Qualifications, Lunch Allowance, Flexitime, Hybrid Working

The role

Phoenix Operational Risk Oversight

 Maintain and operate the Line 1: Line 2 Risk business partner structure for designated functional areas for all aspects of the RMF and ICF. This will include:

o Providing support, advice, guidance, risk challenge and risk training as required to business areas on each of the different components of the RMF and ICF within the European Business including the Risk and Control Self-Assessment (RCSA) process, Business Risk Profile reporting and Operational Risk Solvency Capital Requirement (SCR) assessment process;

o Providing assistance, observation or recommendation to risk owners on how to best adopt, embed and comply with the requirements of the RMF and ICF including delivery of education sessions within risk owner functions as required;

o Support Line 1 management in the review / maintenance / refinement of Group and Local Policies to improve the quality and content of Policy Owner risks and controls articulation, including explicit consideration of climate change within that process;

o Maintain responsibility for the review / maintenance / refinement of Group and Local policies for which Risk or the CRO is the owner;

o Support Line 1 management in defining, executing and reporting on Line 1 assurance activity in line with the requirements of the ICF;

o Establish and embed new stakeholder relationships across the business as required, driven by acquisition activity and investment in new asset classes for example.

 Validate that the operational risk related RMF outputs from Line 1 functions meet baseline Line 2 requirements and use those to inform the basis of a wide range of Line 2 opinions and challenge that will feed into internal risk reporting to oversight committees and boards.

Operational Risk Oversight - OSPs

 Oversee, review and challenge the operational risk related outputs from outsource service providers (OSPs) via their respective Line 2 functions, ., Risk and Control Self-Assessment data; Incident Reporting; Incident Root Cause Analysis etc., ensuring that they meet the requirements of Phoenix. Use the information as a basis to inform a wide range of Line 2 opinions and challenge that will feed into internal risk reporting to oversight committees and boards.

 Develop and maintain effective relationships with Line 2 (and Line 1 where necessary) counterparts in OSPs, to help inform our identification, assessment and reporting of operational risk exposures.

Programme Assurance

 Lead Line 2 Risk / Assurance Reviews of programme and project activity, providing high quality written output which meets the requirements of the relevant methodology. Present report output to senior stakeholders including presentation at management oversight committees, Steering Groups etc. as required.

 Ensure effective tracking of actions from reports produced, ensuring updates are obtained from action owners and requests for closure are reviewed / approved as required.

 Contribute to risk projects by providing Line 2 input, support, challenge, guidance and opinion to project teams as required, including taking on ownership for the delivery of operational risk related components where necessary.

Operational Risk Assurance

 Lead Line 2 Operational Risk Assurance Reviews of business as usual processes, activities, risk universe categories etc. within Phoenix Life Assurance Europe, providing high quality written output which meets the requirements of the relevant methodology. Present report output to senior stakeholders including presentation at management oversight committees or boards as required.

 Ensure effective tracking of actions from reports produced, ensuring updates are obtained from action owners and requests for closure are reviewed / approved as required.

 Define and execute an annual programme of Line 1A assurance activity within Risk, focussing on the controls operated within and by the function, enabling the Chief Risk Officer to sign a half yearly Internal Control Framework attestation.

Generic

 Work with colleagues across the Risk team and wider Group Risk function to proactively identify areas where the business would benefit from a Line 2 risk or assurance review, and support or lead those reviews as required, providing high quality report outputs to the CRO or the relevant "Head of" role within the Risk team to approve.

 Attend governance committees as required, including production and presentation of MI and preparation of board reports on the management of risk, including any RMF exceptions, clearly highlighting the implications of such exceptions and if appropriate proposing management action to address them.

 Work closely with other teams in the wider Group Risk function, to support the operation of a co-ordinated and cohesive RMF. Provide objective feedback to senior managers and executives across Europe and Group Risk where this is not the case, leading the definition of required actions to address actual or potential weaknesses.

 Support the CRO to embed and monitor risk culture within Europe.

 Support the CRO to produce required reporting on risk related activities.

System of Governance

 Contribute as required to the Solvency II system of governance review, including assessment of the risk management framework

 Contribute to Solvency II deliverables as required including ORSA, SFCR, RSR etc.

 Manage the delivery of the Recovery Plan

 Support the CRO to review and challenge financial risk and Solvency II, and actuarial modelling methodologies.

 Support the CRO in proposing local ORSA scenarios.

What are we looking for?

 At least 5 years' experience and understanding of the operation of the financial services industry.

 Relevant professional qualification would be an advantage ., Accountancy, Risk Management, Actuarial etc.

 Detailed Knowledge of operational risk and regulatory requirements in relation to financial services, specifically life and pensions.

 Excellent communication skills, both written and oral and gravitas including experience of reporting and presenting at senior management / executive level.

 Drive and flexibility to undertake a wide range of activities simultaneously.

 Demonstrate sound risk awareness and judgement.

This role has been identified as CF-2 under the Central Bank of Ireland's Fitness & Probity regime. The successful candidate will be required to comply with the Central Bank of Ireland's Fitness and Probity Standards on an ongoing basis. Further details are available on request from the HR Team or directly from the Central Bank of Ireland. The individual who fulfils this role is required to hold certain qualifications as set out in the Central Bank of Ireland's Minimum Competency Code. In addition, they are required to undertake a programme of Continuing Professional Development (CPD) annually. Further details are available on request from the HR Team or directly from the Central Bank of Ireland.

We want to hire the whole version of you.

We are committed to ensuring that everyone feels accepted and safe at work and are proud to be an equal opportunity employer. Everyone is valued at Phoenix regardless of age, gender identity, neurodiversity, race, disability, sexual orientation, religion, ethnicity, socioeconomic background or anything else. Whether it's joining one of our internal employee networks, being an ally, taking positive action or simply being there to listen, everyone at Phoenix is valued and respected.

If you need any help or adjustments to the recruitment process due to health, disability or anything else, please let us know so we can help you to be the best version of yourself.

#LI-SM2

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