Operational Risk Analyst

2 months ago

Potters Bar, Hertfordshire, United Kingdom Canada Life Group Ltd Full time
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 1st Line Operational Risk Analyst is responsible for supporting the operational risk management framework within the customer services area.
  • The role involves identifying, articulating and assessing operational risks, as well as monitoring and reporting on risk indicators, incidents and issues.
  • The role also requires collaboration with other 1st and 2nd line risk functions, internal audit and external regulators to ensure compliance with policies, standards and regulations.
  • Embeds a culture of professionalism and ensures that legislative and Company requirements/standards are met.
  • Displays blue-print and model behaviours to inspire and develop internal cultural change.
What You'll Do

  • Articulate and communicate operational risks to senior management, risk committees and other stakeholders, using risk reports, dashboards, heat maps and other formats. Identify and document operational risks and controls within customer services across all business lines, using risk and control self-assessments, process maps, risk registers and other tools.
  • Assess the effectiveness of operational risk controls and mitigation actions, using key risk indicators, risk appetite statements, control testing and other methods. Monitor and report on operational risk events, incidents and issues, using root cause analysis, action plans and escalation procedures.
  • Collaborate with other risk functions, such as 2nd line operational risk, enterprise risk, compliance and IT, to ensure alignment and consistency of risk management practices.
  • Support internal and external audits and regulatory reviews, by providing evidence, documentation and responses to queries and findings.
  • Use data led insights to provide challenge and guidance to risk owners and CS Operational Heads to identify and track remedial actions and enhancement opportunities for risks outside of tolerance
  • Contribute to the continuous improvement of the operational risk management framework, by providing feedback, suggestions and best practices.
Who You Are

  • Knowledge of operational risk concepts, tools and methodologies, such as risk and control self-assessments, key risk indicators, incident management, root cause analysis, risk appetite, etc.
  • Ability to identify, articulate and assess operational risks and controls, using analytical and critical thinking skills.
  • Ability to communicate effectively and confidently with senior management, risk committees and other stakeholders, using verbal and written skills.
  • Ability to work independently and collaboratively in a team environment, using interpersonal and organizational skills.
  • Proficiency in Microsoft Office applications, such as Excel, Word, PowerPoint and Outlook.
  • Thorough understanding of regulatory requirements and industry standards
Qualifications

  • CII Introduction to Risk Management (or other recognised industry qualification - desirable
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.

ADZN1_UKTJ

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