Head of Risk

Job Type: Permanent

Location: This role can be based in either our London or Birmingham office, with some flexibility to work between the office and home. There may be some travel to other offices in Edinburgh and Telford. We recognise the benefits of flexible working and will discuss what is important to you and balancing this with business requirements during the recruitment process. You can read more about Phoenix Flex here.

Salary and Benefits: c. £90,000 (subject to experience), plus bonus, private medical cover, 38 days annual leave, excellent pension, 12x salary life assurance, career breaks, income protection, 3x volunteering days and much more.

Closing Date: 31st October

We have an incredible new career opportunity for a Head of Risk , Business Development Origination to join the Business Development Origination team, as part of the Retirement Solutions & Asset Management function.

Role Overview

The Head of Risk provides strategic oversight of risk management across Individual Annuities, Smoothed Managed Funds, Bulk Pricing Annuities, and Asset Management. The role ensures robust governance, regulatory compliance, and effective risk frameworks to safeguard financial performance and customer outcomes. By identifying emerging risks and aligning controls with business strategy, it supports sustainable growth and operational resilience across these key product areas.

Key Responsibilities

Risk Controls & Reporting

• Ensure appropriate risk controls are in place for annuity and bulk pricing, smoothing mechanisms, and asset allocation strategies.
• Facilitate risk reporting to the Board and management committees on the key risks, the effectiveness of the Risk Management Framework, risk exposures against appetite, and the appropriateness of actions taken to manage risk exposures.
• Lead regular risk assessments, ensuring identification of emerging risks and trends within the business division / function, and ensuring timely implementation of appropriate risk responses and controls.
• Review longevity assumptions, smoothing algorithms, and pricing models.
• Familiarity with risk analytics tools, governance platforms, and capital modelling.

Stakeholder Management

• Influence key stakeholders across the Group and externally level to drive positive risk outcomes and gain buy-in on risk management initiatives.
• Act as a trusted advisor to senior stakeholders and cross-functional teams. You will predominantly be working with; Business Development & Origination Director, BPA Senior Business Development Managers, Head of Smooth Managed Funds, Head of Annuities, Head of Channel and Product Marketing, Asset Management, Compliance and Risk.

Risk Culture

• Promote strong risk culture in which the Risk Management Framework is valued and embedded in all activities, the identification and management of risks to customers is central to decision making.
• Maintain risk appetite statements and key risk indicators (KRIs).

Regulatory & Industry Trends

• Ensure compliance with FCA, PRA, Consumer Duty, Solvency II, and IFRS 17.
• Monitor emerging regulatory trends and assess business impact.
• Awareness of cybersecurity, AI, and digital risk trends.

What are we looking for?

Experience, Knowledge and Skills (Essential)

• Risk leadership: Proven experience in risk leadership within financial services, covering specifically annuities, BPA and asset management, alongside a strong balance of technical and strategic experience within a risk landscape
• Risk frameworks and methodologies: Strong strategic risk management expertise and understanding of risk management frameworks, methodologies, and best practices, particularly in the context of financial services and annuities
• Risk management: Ability to lead risk-related initiatives, manage timelines, and ensure successful implementation of risk management practices across the division
• Exec-level presenting: Experience of presenting board papers to Exec level, with the ability to translate technical concepts with influential capability
• Technical: Broad depth and understanding across multiple financial disciplines such as: individual annuities, smoothed managed funds, bulk pricing annuities and asset management

Personal Attributes

• Critical and strategic thinking capability to assess complex risk scenarios, develop innovative solutions, and prioritise actions based on potential impact and urgency,
• Ability to fluently articulate understanding of insurance and investment products, pricing, and regulatory frameworks
• Ability to cultivate and maintain strong relationships within teams, promoting employee engagement and performance

Qualifications & Certifications:

Essential - Degree in Finance, Risk, Actuarial Science, or related field

Desirable -

• Professional certifications (e.g. IRM, CFA, FRM, CERA)
• UK - The Institute of Risk Management
• UK - The Actuarial Profession
• UK - Association Certified Fraud Examiners
• Experience with Solvency II, IFRS 17, and Consumer Duty implementation

We want to hire the whole version of you.

We are committed to ensuring that everyone feels accepted and welcome applicants from all backgrounds. If your experience looks different from what we've advertised and you believe that you can bring value to the role, we'd love to hear from you.

If you require any adjustments to the recruitment process, please let us know so we can help you to be at your best.

Find out more about #LifeAtPhoenix

• Guide for Candidates:
• Find or get answers from our colleagues:

#LI-SC1