Risk & Compliance Business Partner

6 days ago


Potters Bar, United Kingdom Canada Life Full time

**Location: London or Hertfordshire**

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**:
A direct report of the Head of Risk & Compliance for Insurance and Home Finance. - (HRCs) responsible for the oversight of compliance and non-financial risk across Canada Life UK (CLUK).This role provides key support to the relevant HRC - in ensuring that there is appropriate risk management across the business aligning strategy, risk appetite, and ensuring effective and efficient operations. The role holder will encourage, advocate and lead an appropriate risk culture across CLUK to meet the needs of the full range of stakeholders (including Board, executive, Lifeco group and regulators).

It is likely that the initial focus of the role will be as Business Partner for the Retirement business (i.e. Individual Annuities and Home Finance)

This role is primarily responsible for providing key support to the relevant HRC in the oversight of compliance and non-financial risks across our business lines and operational functions, including relevant change programmes, and supports the HRC in their capacity as the Risk and Compliance Business partner for those functions, covering the full CLUK risk universe, including regulatory compliance risk. Working across the Risk & Compliance function, the role supports the HRC in sharing insights with other risk and compliance business partners contributing to the oversight of non-financial risk across CLUK.

**Duties / Responsibilities**:
1) **Business Partnering**: Support the relevant HRC in engaging with 1st line of defence and providing oversight, with focus on particular business areas specified from time to time by the HRC. This covers oversight and challenge of the nature of risk exposures, capital requirements and governance, and their subsequent impact on CLUK and across the whole risk universe, including regulatory compliance risk.

2) **Leadership**:Support the relevant HRC in providing non-financial risk leadership to the risk & compliance team in line with our corporate values in the achievement of the business and individual objectives, including the provision of operational and technical risk guidance. This specifically includes assisting the HRC in supporting the objectives of a team of Risk and Compliance business partners.

3) **Risk Management Framework**: Champion the three lines of defence model for risk management across CLUK.

Support the relevant HRC in the implementation of the Great West Life ERM framework across the relevant divisions overseeing compliance with relevant regulations and that they meet the wider expectation of regulators, and follow good practice relative to peer companies. This will include implementation, embedding and maintenance of:

- Risk strategy, consistent with the business strategy and business objectives
- Risk universe
- Risk appetite framework
- Risk and Compliance policies
- Risk and Compliance oversight and assurance, including regulatory and reputational
- Risk identification, assessment, measurement, monitoring and reporting
- Risk and Compliance mandate requirements
- Advising and providing oversight on operational risk scenarios

4) **Compliance and Non-Financial Risk**: Support the relevant HRC in their work (with the Head of Compliance Effectiveness and Oversight) to:

- Develop a shared compliance and non-financial risk monitoring and oversight plan and support delivery.
- Understand regulatory priorities and ensure that the business teams are progressing the delivery of new regulatory requirements to meet regulators’ expectations.
- Support the understanding and management of compliance and risk skills and capabilities across the risk and compliance teams.
- Support the evaluation of compliance effectiveness and maturity.

Support the HRC in ensuring that non-financial risks and impacts on customer outcomes and potential for customer harm are understood and reflected in Business Line Risk Management and decision making. This includes gaining an understanding of business line specific requirements, and communicating these across CLUK to reflect those requirements.

5) **Reporting and Review**:

- Support the relevant HRC in the quality review process for CRO and CCO reporting across non-financial risks, includ



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