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Conduct Risk Specialist, Coo Office

3 months ago


Potters Bar, Hertfordshire, United Kingdom Irish Life Full time

Location:

Potters Bar, GB
Company:CLFIS Limited**Description:


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 inscope 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.


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 respons