Investment Governance and Risk Officer

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 

• This is a key role for the Asset Management business which includes operating the 1st Line control environment to ensure adherence to applicable regulation, investment policy and client mandates.
• The role is responsible for conducting 1st Line monitoring activity, surveillance and oversight and reporting the results via MI to senior management. 
• The role ensures Asset Management is effectively managing risks, providing the Asset Management business with expert and value-adding risk advice in a business focused and pragmatic way, including facilitating effective and appropriate risk management processes and MI/reporting. 
• Encouraging an appropriate risk culture, delivering fair outcomes for our customers within risk appetite. Promoting 1st Line risk ownership and accountability. 
• Facilitating an effective and balanced relationship with the 2nd Line Risk and Compliance oversight function. 
• The role holder is expected to maintain an in-depth awareness of the regulatory context and risk framework surrounding the Asset Management business, strategy and its customers.

What You'll Do 

Risk Framework Processes

Maintain risk framework processes within Asset Management covering full risk appetite including regulatory compliance risk:

• Risk appetite
• Risk event logging and reporting, including for conduct, privacy and regulatory breach risk events
• Control inventory
• Risk register
• Top & emerging risks
• Risk & Control Self-Assessment
• Key Risk Indicator (KRI), Risk Marker and Risk Function Indicator (RFI) reporting
• Project support and advice

• A key output from the risk framework processes is identifying potential and drivers for poor customer outcomes or harms, and using this to develop risk approaches, mitigation and appropriate processes and controls to manage this risk.

• Fostering a culture of awareness, openness and accountability, providing training as required, ensure the Risk Event Reporting process is easily available. Maintenance, reporting and escalation of risk and regulatory compliance processes should be in line with the ERM framework.

1st Line Control, Oversight and Surveillance

• Under the Head of Investment Governance supervision manage the effective operation of the 1st Line Asset Management control environment, which includes relevant monitoring, surveillance activities and management of the oversight programme, to demonstrate adherence with applicable regulatory requirements.

Investment Policy and Mandate Adherence

• Responsible for the operation of controls and monitoring activity to demonstrate adherence to investment policy, client mandates and regulatory obligations for funds under the management of the Asset Management team.

• This includes ownership and management of an effective pre-trade compliance control environment within the Order Management System. This includes the on-going development and writing of technical pre-trade rules to ensure compliance with investment policy and mandates.

Governance and functional effectiveness

• Responsible for the production of regular reporting and MI to key stakeholders on 1st Line control monitoring and oversight activity. Key stakeholders include senior management, 2nd Line Risk and Compliance, clients, relevant CLUK Committee’s and the CLAM Board.

• Responsible for preparing reports on the Asset Management risk framework and presenting these at appropriate forums, including the Risk Oversight Committee and Customer Outcomes and Fund Governance Committee.

• Facilitate and support the embedding of and annual attestation to applicable policy requirements, including relating to conduct, consumer duty and regulatory compliance by reviewing and guiding responses, ensuring that policy gaps with respect to changes in the functions profile/operations/strategy/regulatory compliance is communicated and understood by the Policy Owner.

Advice and Risk Management

• Based on knowledge of the strategic goals and commercial context of Asset Management, champion the 3 Lines of Defence model for risk management across the Asset Management business. 

• To provide high quality, technical expertise and guidance to Asset Management on existing regulation and during the implementation of new regulation as well as guidance on strategic initiatives to ensure an effective 1st Line control environment. Ensure regulatory risks and issues are managed appropriately in accordance with risk appetite. Establish and maintain sufficiently effective controls and procedures, ensuring that regulatory obligations are met, weaknesses or control failures are addressed and poor customer outcomes are avoided.

• Provide 1st line risk and governance advice and support in the Asset Management business covering non-financial and regulatory compliance risk including risks to customer outcomes. This relates to both Business-as-Usual activities and change initiatives which impact Asset Management processes, controls and customer outcomes.

• Support the Asset Management business by delivering ongoing risk training and education to staff, enabling the business to integrate the risk culture into their day-to-day work processes. Continue to strengthen and embed risk awareness across Asset Management and seek to improve knowledge where gaps are identified.

Who You Are 

• Expert knowledge of Asset Management products and services 
• Knowledge and expertise of regulations impacting Asset Management firms
• Technical knowledge and experience of regulatory and risk management frameworks
• Strong interpersonal and influencing skills, communication skills and attention to detail
• Ability to deliver under tight time pressure
• Ability to develop and maintain effective working relationships with colleagues and other business lines, including teams in the three lines of defence model
• Self-motivated, well organised, pragmatic and able to perform tasks independently
• Ability to take a risk-based approach to organising workloads for self to meet demanding and often changing priorities, ensuring that key deadlines are met
• Experience of embedding and maintaining an enterprise risk management framework
• Experience in managing and providing risk oversight activities at a business level
• Ability to present advice in a clear, timely and focused way
• Ability to develop and maintain effective working relationships with colleagues, Business Unit leadership teams and other governance functions.

Qualifications

• Degree desirable
• Investment administration or management qualification
• Professional 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.