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Conduct Risk Specialist, COO Office

3 months ago

Potters Bar, Hertfordshire, United Kingdom Canada Life Limited Full time

Duration: 6 months

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 Summary:

The COO function of Canada Life UK is a key part of the business, providing Customer Services, IT, Business Change and Procurement services across the Canada Life divisions.

Within the COO Office, the first line risk team are responsible for managing the division's 1st line risk and control oversight, with the aim of ensuring that the risk framework is executed consistently and efficiently across the in-scope divisions of Canada Life UK.

The role of the Conduct Risk Specialist is to lead on identification, measuring, monitoring and reporting of Conduct risks across the Canada Life businesses.

Working across functions, you will ensure that our measures of Conduct risks align with our risk frameworks and present an accurate picture of the Conduct Risks Canada Life faces.

You will also take responsibility for our amalgamation of Conduct risk measures into our broader risk appetite framework, to allow accurate and timely reporting to business lines, executive committees, boards and our broader LifeCo partners.

In addition, you will lead on the incorporation of Consumer Duty management information requirements in our Conduct Risk reporting framework, ensuring that ExCo and the relevant Boards receive a true representation of how our customers feel about the outcomes they are getting in their interactions with Canada Life.

In addition, you will be responsible for the production of annual Conduct Risk reporting to the relevant boards, as required under incoming Consume Duty regime.

You will also ensure that Conduct Risks and material deficiencies in customer outcomes, as reported in our conduct risk framework are reported, escalated, managed and remediated within the Conduct framework.

Job Responsibilities:

1) Conduct Risk Framework Implementation

Responsible for supporting and oversighting the embedding of the Conduct Risk framework across the Canada Life (CLUK) functions and product lines.

This will include the outcomes reporting requirements arising from Consumer Duty regulations for both ExCo and Board reporting across Canada Life.

You will also take responsibility for other reporting of Conduct Risk indicators requiring submission to the Canada Life Group globally.

You will also lead on the development and enhancement of Key Risk Indicators (KRIs) for Conduct Risks across all in-scope regulated entities, working with stakeholders across the business to ensure correct identification, calibration and tolerances for risk indicators.

In addition, you will be responsible for ensuring that the framework for the aggregation of Customer Outcome metrics within the Conduct Risk policy framework remains fit for purpose and align with regulatory requirements.

In addition, you will take the lead on ensuring that it adapts to changing business, strategic and regulatory requirements.


2) Conduct Risk Management Information and Reporting

Responsible for the on-going reporting of Conduct Risks across CLUK through both ExCo, the firm's Customer and Operational Risk Committee together with relevant boards.

This will include both articulating Conduct Risk within agreed appetite levels and ensuring that there are clear actions and owners where risks are outside of agreed tolerance.

In addition, you will oversight the framework and support the ongoing reporting of Customer Outcomes within the Conduct Risk framework, ensuring that defined outcomes are accurately measured, tolerances agreed, and metrics aggregated within the agreed taxonomy to show the overall status to Boards and ExCo's across CLUK.


3) Conduct Risk and Consumer Duty Governance

Taking the lead for the on-going governance requirements in relation to Conduct risk and Consumer Duty requirements across Canada Life UK.

This will include an annual Policy Attestation to ensure that the execution of governance aligns with our overall policy and regulatory requirements.

In addition, you will update and ensure that the underlying operating standard and other required governance documentation is kept up to date and are executed correctly across CLUK.


4) Annual Board Reporting on Customer Outcomes

You will take responsibility for framing the annual board reporting to the in-scope Canada Life Boards, ensuring compliance with the new over-riding FCA principle around the delivery of good customer outcomes.

This will involve a deep-dive on the execution of Consumer Duty requirements across the in-scope entities, focusing on areas where remediation plans are in place and ensuring that the wider business strategy and culture of the firm remains consistent with the requirements of the Consumer Duty, placing customers at the heart of decision making and strategy.


5) Conduct Risk Policy and Risk Framework

Responsible for ensuring that the CLUK Conduct Risk Policy, together with the associated risks and controls, remains updated and relevant for the underlying business and their risks across CLUK.

Lead on the annual review of the policy and accompanying Operating Standard, both of which ensure that the policy is executed correctly across CLUK.

Experience Required:

  • Good interpersonal/networking skills, with the ability to maintain a variety of relationships with multiple stakeholders
  • Strong communication skills, demonstrating a clear and articulate standard of written and verbal communication in a complex environment, tailored for all levels of management.
  • knowledge of conduct risk management and the relevant regulations, including the technical aspects relating to the quantification and analysis of a wide range of risks
  • Experience of embedding and maintaining enterprise risk management frameworks
  • Proven track record at delivering reporting requirements under time pressure with attention to detail.
  • Strong time management and organisational skills
Qualifications:

  • Specialised qualification in risk/compliance - have or working towards a financial services or regulatory qualification
  • Ideally degree or equivalent experience in the industry
Benefits of working at Canada Life

We believe in recognising and rewarding our people, so we offer a competitive salary and benefits package that's regularly reviewed.

As a Canada Life UK colleague, you'll receive a competitive salary and comprehensive reward package including a generous pension and bonus scheme, along with, income protection, private medical insurance and life assurance.

We have a fantastic number of other benefits and support services as well as regular personal and professional development.

How we work at Canada Life

Our culture is unique and incredibly important to us.

We care about doing the right thing for our people, customers and community and helping others to build better futures.

Our blueprint behaviours shape and influence how we work, and are central to the relationships we have with others.

Every day we are encouraged to be more curious, own the outcome, face into things together and find a way forward.

We want colleagues to have rewarding careers with us so we invest in the development of our people, technology and workplaces.

That's why we offer a range of training, flexible working and opportunities to grow and develop.

Diversity and inclusion

Building an inclusive workplace with a diverse workforce where everyone can feel they belong and achieve their potential regardless of gender, ethnicity or any other characteristic is a key commitment for us.

We are proud of the progress we're making in DEI, and we continue for it to be a significant focus.


"At Canada Life we believe in the power of great people from different backgrounds, experiences and perspectives coming together to build better futures. Emerging talent is crucial to our growth and creating an environment that continues to inspire us all." Nick Harding, Chief People Officer, Canada Life UK

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.