Prudential - Deputy Manager - Risk Assurance

Job Title and Approved Person Status where applicable e.g. Indicate controlled function (e.g. CF1 Director, CF 16 Significant Influence manager etc)

Deputy Manager - Risk Assurance

Individual contributor role

Will involve travel to UK

Reports to (Job not person) - Manager Risk Assurance

Scope of Role - Risk Assurance, Mumbai

Key departments / areas of responsibility

Risk Assurance Team

Job Dimensions

Financial

- Deliver Assurance Reviews in BU across Prudential UK, including PPMS.

Overall Job Purpose

To carry out Assurance engagements for Prudential UK, including PPMS in lead/support capacity (for complex reviews) under the supervision and guidance of Senior Lead/ Lead Reviewer) within Regulatory Risk Assurance Team

Key Accountabilities and Responsibilities

This section must include for all staff

Normal job accountabilities;

- General statement on the standards and responsibilities for all staff in respect to the Statements of Principle and Code of Practice as set out in the FCA/PRA regulations. Generic statement is detailed below.

Generic responsibilities

To work under the direct supervision and guidance of the Manager Risk Assurance / Senior Lead reviewer to generally achieve the following for Risk Assurance team:

Assurance

- Plan Assurance assignments. This will involve collating information on the area being assured including key systems, organisational structure, financial and budgetary information, any legal or regulatory requirements etc. The planned phase will involve dialogue and interviews with the management responsible for the area being assured. The Assurance Manager should also be kept informed on the evolution of the planning work.

- Being able to properly assimilate the information provided by the senior reviewer/lead reviewer from the Planning phase of the Assurance. The Deputy Manager should be able to understand the business background of the area being assured; and their role in the Assurance assignment. It maybe necessary from time to time, for the Deputy Manager to assist the Manager in conducting the planning phase of the Assurance.

- Document the key processes and associated controls being examined in the Assurance – the Deputy Manager would be involved in the more complex activities being reviewed. This will involve the use of flowcharts where necessary. The Deputy Manager should be able to complete a control and risk assessment matrix following their documentation of the systems and processes being reviewed.

- Create a Test Programme to check that the controls identified in the risk assessment exercise are working properly.

- Address any review points raised during Assurance Review.

- To populate Auto Audit with planning, fieldwork and reporting material

- Use of Issue Track to track and close recommendations

- Develop good working relationships with Business Managers and Staff at functional levels (within Pru UK including PPMS) to ensure efficient and timely completion of assurance reviews.

- When performing assurance reviews identify and report opportunities for improvement in the functioning of business processes resulting in efficiencies.

- Comply with the policies, procedures and guidelines set by the Risk Department.

- To assist in ensuring that any lessons learnt from assurance reviews are shared across Pru UK

- Carry out other /assurance monitoring work across whole of Risk Team as and when required.

- To demonstrate a positive risk, compliance and control culture through the identification, assessment, monitoring and management of risks and issues within the business area, alongside ensuring timely and appropriate resolution of control weaknesses, actions and failures that arise.

This job will involve significant travel outside India.

Key Interfaces

- All PRU BU’s and PPMS Directors and Senior Management – clearance of reviews and Assurance planning, plus improvement of the Risk Assurance Team service.

- PPMS Business Areas – Assurance planning, sharing best practice

Competence / Knowledge / Skills required

- Practical and theoretical knowledge of business risk and control frameworks and how these map to evolving regulatory requirements.

- Track record of delivering process/control improvements within significant programmes of work with nominal supervision.

- Gather, summarise, and examine data or information and Identify implications of findings.

- Ability to work with minimal supervision.

- Demonstrate ethical behaviour.

- Build and maintain a habit of continuous learning.

- Learn and practice effective time management.

- Team player and eye for detail.

- Ability to liaise and negotiate effectively with business and third parties. A proficient communicator and negotiator.

- A good general understanding of the regulated marketplace and financial services industry.

- Operates within the context of own function but willing to help other areas when required.

- Good knowledge of Insurance products, systems and distribution methods. (will be an advantage)

- Extensive knowledge of industry best practice.