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Risk Manager - this is a 50/50 split of Work from home and in office .
Our client based in Bristol at Emersons Green near the junction of the M4 and M32 ( so commutable from Bristol ,Bath ,Chippenham, Swindon etc ) are experts in the Financial Compliance industry; focussing mainly on the Motor Trade and Travel . They have one of the UK's largest regulatory networks with many retail sites ( Network Members ) across the UK benefiting from a range of Finance and Insurance services.
By providing Appointed Representative status, they shoulder the burden of compliance ( of being Directly Authorised by the Financial Conduct Authority (FCA) ) so their customers can concentrate on running their day to day businesses .
Purpose of the role:
Our client operate a three lines of defence model of risk management. The Risk function acts as the second line of defence, ensuring that the first line controls are effective. The Risk function is also responsible for completing 2nd line reviews on other business departments that focus on the risk of customer detriment, managing the incidents and breaches process, horizon scanning, controlling the network risk assessment, overseeing the network member onboarding process and handling regulated complaints.
Key Deliverables:
Responsible for;
Managerial Support:
•Supporting the CRO by actively managing the knowledge and competence of the Risk Department by
providing training and support to all team members through side-by-side training and the provision of
supporting documentation for internal procedures.
•Ensuring the department’s CPD logs remain up to date.
•Deputising for the CRO on agreed tasks.
•Assisting the CRO in completion of Departmental reports
Risk Register:
•Ensure the Risk register is maintained and appropriate actions set in agreement with relevant stakeholders
•Assist the CRO in compiling Risk Reports for Risk Committee and/or Board as required
Incidents:
•Managing Incident oversight, both those identified through reviews completed by the Risk department and
those reported by other departments, ensuring remedial action is completed to mitigate the risk of the
incident occurring again in the future.
•Undertaking work to assess the risks posed by non-compliant Network members, assisting in the production
of a formal risk rated remedial action plan to cover any compliance failures.
Complaint Handling:
•Ensuring the Department respond to regulated complaints, fairly and promptly, in accordance with the FCA rules
Second Line Reviews:
•Ensuring the Department undertake a second line risk-based monitoring function which focuses on assurance over the first line activities of call monitoring, website reviews, financial promotion reviews, product reviews, consumer credit rates and terms reviews, Pay Plan reviews, returns checks and network member audits.
Onboarding of new Network Members:
•Signing off an initial review of the onboarding risk assessment document, ensuring this document has been completed comprehensively and any areas of risk have an appropriate action set against them.
Appetite.
•Keying applications for Appointed Representatives and Approved Persons to the FCA in line with ITC’s policies.
Thematic Reviews:
•Supporting the Risk Department in delivering thematic reviews on departmental areas and processes, as required.
Horizon Scanning:
•Completing Horizon Scanning reviews of regulatory publications as published and maintaining a log of these
publications for any agreed actions with the CRO.
•Composing summary documents of any relevant publications, as directed by the CRO.
Network Risk Assessment:
Internal•Supporting the Risk department by regularly reviewing the Network Risk Assessment and investigating any areas of concern, completing suitable justifications.
Standard Operating Procedures:
•Supporting the Risk department maintaining selected departmental Standard Operating Procedures to ensure the processes followed reflect the documented procedures.
Control Environment:
•Where required, working with the first line to address any weaknesses in the control environment.
Other:
•Understand and compliantly work within regulation such as the Data Protection Act 2018, Public Interest
Disclosure Act 1998.
•Ensure personal training and competency requirements are in line and up to date with company policy.
•Adhere to all company policies and procedures, including Health & Safety, Equal Opportunities, Data
Protection, Code of Conduct and Information Security.
All activities to be handled in accordance with the relevant Standard Operating Procedure.
Critical Competencies:
•5 years’ experience of working within a Risk or Compliance role.
•Adhere to the ethos of Consumer Duty in all work activity.
•Completion of the company’s Compliance Training program.
•Good investigative and analytical skills including the ability to analyse processes and procedures against requirements and desired outcomes.
•Ability to be able to critically review, and make judgements on, the compliance of written and oral
communications against defined criteria.
•Good organisational skills and ability to proactively manage workload.
•Good written, oral communication and presentation skills.
Desirable Skills and Experience:
•Experience of a retail insurance environment.
•Experience of working with/for finance providers.
•Experience of working within a risk related role.
•Understanding of the Motor and Travel industry sectors.
•Understanding of how to use the FCA Handbook, and knowledge of the FCA requirements DISP, PRIN, SYSC,
ICOBS, SUP and CONC.
•Excellent computer skills.
•Being able to work as part of a team.
•Some regulatory related qualifications such as CII, ICA, IFS
Other significant Role Requirements:
•Comply at all times with companies principles, commitments and codes of practice.
•Must achieve and maintain the Critical Competencies listed above.
•Ensure awareness of, and adopt any changes in, regulatory practice.
•Maintain a log of personal continuing professional development (CPD) and ensure a minimum of 35 hours a year is completed.
