Job Title: Senior Manager, Assurance and Controls Testing, Operational Risk
Reports to: Head of Risk, Resilience, and Compliance.
Location : Mumbai,
Scope of Role
Job Dimensions: Financial Non-Financial
Overall Job Purpose :
- Operational Risk maintains the overall Operational Risk Framework, leads, coordinates and manages a range of risk management processes including overall risk reporting.
- The Senior Manager, Assurance and Controls Testing report to the Head of Risk, Resilience and Compliance, 10FA India and to the Assurance and Controls Testing Lead, Operational Risk, M&G plc UK. The role sits in the company India Risk and Resilience function and leads on the delivery of the Operational Risk Assurance & Controls Testing Plan (including AAF, Financial Controls, RCSA reliability testing and Operational Risk Assurance Deep Dives), and in so doing, supports the implementation of the Operational Risk Framework and Policies. The role works in close partnership with other stakeholders across the business (external auditors, compliance monitoring, internal audit and other risk assurance providers) to ensure a coordinated approach to monitoring effectiveness of control design and implementation.
Accountabilities/Responsibilities :
The key responsibilities of this role are to support the delivery of the Operational Risk team's objectives to support the embedding of the operational risk framework across the company and provide consolidated risk analysis and risk management information for Senior Management as required. This involves:
- Ensuring compliance to the people policies, Group Code of Conduct and embedding desired behaviors, including completion of any mandatory training requirements.
- Being personally accountable for identifying, assessing, managing and reporting risks within your area of responsibility, including supporting formal risk management activities e.g. Risk & Control Self Assessments and timely closure of Assurance action
- Supporting the Assurance & Controls Testing Lead on the creation, maintenance, and enhancement of the company's Operational Risk Assurance & Controls Testing Plan and the controls scoping activity (covering AAF, Financial Controls, RCSA reliability testing and operational risk assurance deep dives).
- Supporting the Assurance & Controls Testing Lead on the delivery of the Plan and presenting findings to senior governance level committees and forums including audit committees at both a plc and regulated entity level
- Providing leadership and oversight to the 10FA India Operational Risk Assurance & Controls Testing Team, motivating a team of Operational risk analysts, ensuring quality delivery and development of team capabilities
- Leading on the delivery of the operational risk assurance, RCSA reliability reviews and control testing reviews/deep dives across all business areas and outsourced service providers as may be required
- Leading and reviewing reports of assurance and control testing review findings and recommendations
- Managing stakeholders effectively, and work collaboratively with other assurance functions (Internal Audit, Compliance Monitoring and other risk assurance teams), as well as the first line embedded risk and control teams, to support the maintenance of a robust integrated control framework.
- Working with the wider Operational Risk team to drive improvements and enhancements based on experience and assessments performed.
- Working flexibly and building collaboratively constructive and supportive working relationships with teams across M&G plc and suppliers
- Keep abreast of industry trends, regulatory and business issues impacting self-certification.
- Use of regulatory knowledge, business understanding and expert judgement, to quickly identify underlying issues and escalate issues, where appropriate.
Key Interfaces :
Internal External :
- Risk and Resilience
- All UK Business Areas and Senior Management Teams
- PIA and Poland
- Internal Audit - External Suppliers and Business Partners
- External Auditors
- Regulators
Competence / Knowledge / Skills required
Qualification & Certifications :
- MBA/Chartered Accountant with at least 12 years (or more) of experience in the financial services industry, with prior experience in Operational Risk/Risk Management/Internal Audit
- Relevant professional qualification desirable (IRM, CISI, ACII, IIA, ACCA/CA/CIMA, CISA, CISM, etc.)
Experience / Knowledge / Skills :
- Minimum of 12 years- experience in a Risk/Audit function/Big4 within a financial institution with a focus on operational risk
- Detailed knowledge of risk or internal audit assurance tools, techniques and industry best practice (essential)
- Detailed knowledge of financial services products, systems, processes and distribution methods (essential)
- Detailed knowledge of UK financial services sector, including regulatory, governance and risk management rules and regulations
- Detailed knowledge of Control Frameworks such as COSO and COBIT (essential)
- Excellent written and verbal communication skills including board-level communications (essential)
- Ability to challenge constructively, and to be pragmatic where appropriate (essential)
- Ability to work collaboratively across the immediate team and broader Risk & Resilience function whilst also being to work independently under own initiative (essential)
- Significant experience in a risk management, assurance or audit environment (essential)
- Significant experience of developing and delivering assurance/deep-dive/monitoring/audit assignments (essential
- Signiant experience of influencing and negotiating at Board and Executive level, and building strong relationships across diverse business areas (essential)
- Strong knowledge of financial services regulatory and legislative frameworks desirable and either life, pensions and investment products (desirable)
- Excellent written and verbal communication and negotiation skills (essential)
- Curious and continually looking to seek out improvements and not just accepting the status quo
- Ability to work collaboratively across the immediate team and broader Risk & Resilience function whilst also being to work independently under own initiative (essential)
- Strong drive and delivery, committed to achieving results and delivering on time (essential)
- Strong analytical thinking and a critical evaluator of information/issues
- Excellent stakeholder management skills, with the ability to successfully navigate a complex organization as well as build strong relationships and work collaboratively with teams across the business
- Ability to operate remotely, in a diverse and multi-cultural environment. International work or consultancy exposure would be a definite plus
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