Job title: Risk Manager – Wealth
Location: Isle of Man– with travel to other sites as necessary (this is located in the East part of the Island)
Job type: Permanent
Job reference: 957714
Opening date: 6th July 2020
Closing date: 1st August 2020
Who we are
Canada Life International 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 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 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.
What we’re building
Canada Life is transforming its Wealth businesses, creating a new division to focus on delivery of customer-focused, multi-product, financial planning solutions – developed on a bespoke digital platform. With the establishment of this new business division, a new Risk Management team is being created within the Risk Function, to provide risk oversight to this new area.
This is a 2nd Line role, and will support the Head of Risk – Wealth to provide independent risk oversight and governance of all risk-related activities across the Wealth business and to partner the business to provide practical and value-adding risk insights.
The scope of the Wealth Risk Management team includes oversight of, and partnering to, both onshore and offshore elements of the Wealth business. This will be delivered with an appropriate split of locations and responsibilities. The UK based activities sit directly under the Head of Risk, with this role leading the offshore duties for Risk for the Wealth business.
Support the Head of Risk – Wealth, working in a Risk Management team of 5, to manage the Risk Function within the Wealth business (including all appropriate underlying legal entity responsibilities in the UK, IoM and Dublin) on a day-to-day basis to deliver strategic risk objectives and support the business in the execution of its strategy, and with sufficient seniority to deputise as the Wealth business partner as workloads demand.
With the Head of Risk – Wealth, apply the Group Enterprise Risk Management Framework to facilitate effective and appropriate risk management across the business, encourage an appropriate risk culture and meet the needs of the full range of stakeholders (including regulators).
What you’ll do
◾Risk Management Framework: Support the Head of Risk – Wealth in championing the three lines of defence model for risk management across Wealth business area, to support the implementation, embedding and maintenance of all aspects of an effective, pragmatic and appropriate enterprise risk management (ERM) framework, aligned to the Group ERM framework, including:◦Risk strategy, consistent with the business strategy and business objectives
◦Risk appetite framework
◦Risk oversight and assurance
◦Risk identification, assessment, measurement, measurement and reporting
◦Risk function charter
◾Support the Head of Risk – Wealth in managing the Risk Function, their engagement with the full range of stakeholders including Risk representation and reporting to Boards and Committees
◾Responsibility for the Regulatory relationship management on the IoM working collaboratively with the Offshore Head of Compliance
◾Support the Head of Risk – Wealth in ensuring that the implementation of the ERM framework is compliant with relevant regulations and meets the wider expectation of regulators, relative to peer companies.
◾2nd Line Oversight, Advisory: Alongside the Head of Risk – Wealth, support the development of appropriate methodologies and processes for measuring and monitoring risk profile and financial stability eg. leading processes for ORSA & ICAAP Providing Risk challenge and oversight as required.
2nd Line Oversight, Advisory: Support the Head of Risk – Wealth in contributing to risk input to material business decision-making, including due diligence on potential business M&A transactions and transformation projects,focussing particularly on oversight and challenge of the nature of risk exposures, capital requirements and governance and their subsequent impact on the Group.
Who you are
◾Experience in the Wealth management and life insurance industry.
◾Knowledge of enterprise risk management and the relevant regulations, including the technical aspects relating to the quantification and analysis of a wide range of risks
◾Experience of embedding and maintaining an enterprise risk management framework
◾Experience of second line of defence risk oversight activities
◾Experience of managing ORSA and ICAAP processes and report production
◾Strong communication skills, demonstrating a clear and articulate standard of written and verbal communication in a complex environment, tailored for all levels of management, including Board level
◾Strong influencing skills, with experience of engaging with Boards and senior management in order to get desired outcome
◾Good interpersonal/networking skills, with the ability to maintain a variety of relationships with multiple stakeholders
◾Proven track record at delivering reporting requirements under tight time pressure with attention to detail
◾Self-motivated, well-organised, pragmatic and able to perform tasks independently.
◾Relevant Risk Management, Finance or Investment (i.e. IMC) management qualification.
What you’ll like about working here
As a Canada Life International colleague, you’ll receive a competitive salary and comprehensive reward package including car allowance, income protection, private medical insurance and life assurance, along with a generous pension and bonus scheme. You’ll also receive the support you need with your personal and professional development.
Our focus is to have an engaged, committed and motivated work force, operating in a high performing and collaborative culture. We want to create an organisation that offers opportunities for all our people to develop their skills and talent, and build rewarding careers with us.
Diversity and inclusion
Canada Life is committed to a diverse and inclusive workplace. Our role as an employer of choice is to provide the right environment for talented people to do their best work, by respecting, understanding and valuing individual differences.