COO FLR Op Risk Analyst

Canada Life Limited
Potters Bar, United Kingdom
26 Jan 2023
11 Feb 2023
Job Function
Risk Management
Industry Sector
Finance - General
Employment Type
Full Time
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.

Job Purpose
The COO function of Canada Life UK is a key part of the business, providing Customer Services, IT, Business Change and Procurement

The first line risk team, within the COO office, are responsible for managing the division's 1st line risk, oversight, and management of controls on a day-to-day basis to deliver support to the execution of the business strategy.

The role of the Operational Risk Analyst is to provide support to the team in the delivery of Management Information (MI) to ensure that operational risk is measured and presented accurately and clearly to all relevant working groups, executive committees, risk committees and boards within the Canada Life UK division.

The Operational Risk Analyst will also support the collation of data to support the monitoring of Conduct Risk across the Canada Life UK divisions. In addition, the analyst will also support the collation of MI in relation to incoming Consumer Duty requirements (July '23), requiring the collation and presentation of MI to allow the exec and Boards to monitor and challenge consumer outcomes across the Canada Life UK divisions.

The role will also support the development of operational risk reporting and dashboards across the COO division, ensuring consistency across CLUK, including risk appetite, key risk indicators and RCSA processes.

Key Accountabilities
1) Risk and Control Reporting

Supporting the COO Risk team and wider COO division in relation to ensuring that the operationalisation and reporting of risks, controls, risk indicators and emerging risks is completed in line with operating standards and policies of Canada Life UK. Support the consistent aggregation, reporting and presentation of top and emerging risks, so that reporting is consistent and accurate. Work with the second line risk team developing accurate and consistent reporting from the Canada Life GRC system (Metricstream) to support the above goals.

2) Conduct Risk

Responsible for the collation of data and production of Conduct Risk data and dashboards, ensuring that they accurately reflect the Conduct Risk profile across the Canada Life. Delivering on business requirements for data collation, presentation and analysis.

3) Consumer Duty

Take responsibility for collation of data and reports for Consumer Duty reporting across the Canada Life UK divisions. Delivering on business requirements for data analysis, reporting and presentation for use within Exec, Risk and Board reporting.

4) Management Information and Reporting
Responsible for accurate collation, analysis and presentation of information in relation to the reporting of top risks, emerging risks, risk appetite and key risk indicators across the COO division, for use in risk working groups, Risk committees and Board packs.

5) SIPP Risk and Control Reporting

Responsible for the collation of monthly MI in relation to both asset and cash reconciliation on Canada Life's pension product (The Retirement Account), together with other key risk indicators and key controls over the platform (GBST Composer).

Desired Knowledge / Experience / Skills
  • Expectation that the role holder will have working knowledge of operational risk, together with the finance industry.
  • Experience in Financial Services, preferably within a platform environment, would be an advantage.
  • Must have an eye for detail and the ability to work proactively
  • Strong organisational skills, with the ability to prioritise and work to tight deadlines
  • Be curious and tenacious in wanting to get to the bottom of issues and to understand their impact on the business
  • Strong data analysis skills, taking in large data sets and being able to identify trends and spot any data integrity issues, predominantly in Excel
  • Understanding of risk management and controls processes
  • Ability to form strong working relationships across the business and at different levels
  • Have the confidence to be able to constructively challenge
  • Be a team player
Ideally degree or equivalent experience in the industry

What you'll like about working here
As a Canada Life UK colleague, you'll receive a competitive salary and comprehensive reward package including 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.

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

"We appreciate that everyone has different work and life responsibilities. We're happy to discuss flexible working arrangements, including part time, for any of our roles should this be a requirement for you "
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