A second line of defence role, responsible for oversight of the first line including independent identification, analysis, monitoring, reporting and escalation of all risk types arising from Quilter Financial Planning business activities in collaboration with members of the broader Quilter Risk function.
About us
Quilter Financial Planning is part of Quilter, a leading provider of advice, investments and wealth management, with a portfolio over £118.7 billion of investments on behalf of over 900,000 customers worldwide (as at October 2019). Established in 2006, we've grown to become the UK's largest distributor of financial advice. In fact, over 3,000 advisers have chosen us as the place to develop and grow their businesses. Why, because we have the size, financial strength and people with the knowledge and expertise to help advisers achieve more. You won't just find diverse, talented and friendly teams here either. You'll also discover an inclusive culture and every opportunity for personal and professional development.
About the role
- To lead, manage and oversee the Quilter Financial Planning Risk team, with responsibility for developing clear and appropriate processes, systems and controls within the team
Business Strategy
- Assist the Quilter Financial Planning CRO in the review of the advice business strategy and business plan initiatives, providing advice on the risks associated with the strategy and initiatives
- Lead on the risk assessment (excluding regulatory/conduct) of all acquisition targets across Quilter Financial Planning, including the National and Network channels, such assessment to include financial/capital and operational due diligence
- Provide oversight and challenge to integration plans as a result of acquiring new advice businesses
- Support the Quilter Technology and Change Risk team in the oversight and challenge on all major technology change programmes impacting Quilter Financial Planning
- Provide oversight of the effective risk identification and management across the Quilter Financial Planning change portfolio
- Support the development, implementation and reporting on delivery of the Quilter Financial Planning risk plan in association with the Quilter Risk COO
Risk Strategy and Reporting
- Support the development and implementation of the Quilter Financial Planning risk plan (in association with the Quilter Risk COO)
- Co-ordinate with Quilter Risk function teams to deliver consistent pan Quilter risk oversight
- Support and oversee the embedding of effective risk management across Quilter Financial Planning in line with the Quilter Enterprise Risk Management Framework, including the provision of advice and training as required
- Provide regular risk reporting to the Quilter Financial Planning CRO against the agreed Risk Plan with opinion on the CEO’s assessment of the principal risks facing Quilter Financial planning together with the management of the risks identified in the Quilter Financial Planning business plan
- Review and monitor the first line Consolidated Risk Report providing an assessment of the effectiveness or appropriateness of management actions identified to bring risks within appetite
- Ensure that material risks are promptly reported to the CRO and CEO
- Maintain appropriate systems and controls to provide robust and accurate management information and reporting
Risk Appetite and Risk Identification
- Provide advice and challenge to the 1st line in translating the risk appetite into metrics and tolerances which are then monitored and reported by the 1st line.
- Oversee the 1st line’s maintenance of the risk register that identifies all material risks impacting the Quilter Financial Planning business
- Provide oversight to 1st line stress testing and scenario analysis to identify current and potential risks
- Monitoring the completeness and effectiveness of the Operational Risk Dashboard and Conduct Risk Dashboard (other than in respect to Advice and Adviser metrics) providing oversight and challenge on the actions identified to address known issues or emerging risks
- Monitor risk acceptances performed by the first line to ensure consistency with Quilter risk appetites, providing challenge and escalating concerns as required
- Support the CRO in assessing the overall risk and conduct culture operating within Quilter Financial Planning
Risk Reviews
- Undertake risk and control reviews of 1st line activities specific to Quilter Financial Planning, primarily in response to material operational (non IT) risk events or where a series of risk events arise in respect to a particular process or function
- Support second line led pan Quilter investigations or reviews arising from a material Quilter wide operational risk issue or IT risk event or as otherwise agreed
- Undertake regular second line review and challenge of Risk and Control Self Assessments (‘RCSA’) completed by the business and report findings to the Quilter Financial Planning Operational Risk Oversight Group, ERCF and Board GARC
- Provide 2LOD oversight and challenge on the annual Quilter policy attestation process, including risk reviews on the assessment of compliance to such policies on behalf of Quilter Financial Planning business owners
Governance
- Attend Quilter Financial Planning’s Operational Risk Oversight Group, Executive Risk and Customer Forum and the Board’s Governance and Risk Committee.
Leadership and Management
- Develop a strong sense of team and actively look for opportunities for cross collaboration across the Quilter Financial Planning risk team and the broader Quilter Risk Function
- Lead, manage, motivate and develop the Risk team as well as role modelling the right behaviours and setting the right tone
- Promote an effective culture and standards across your team and as a member of the broader Quilter Financial Planning CRO team, including in relation to regulatory oversight and good customer outcomes
- Promote professional and continuous development of the Risk team including providing appropriate support, training and development opportunities
- Ensure that the Risk team understands and applies the Quilter Enterprise Risk Management Framework and risk appetites consistently
- Work with the Quilter Financial Planning CRO to develop effective metrics and escalation protocols to demonstrate the appropriate discharge of delegated responsibilities in relation to Quilter Financial Planning
- Contribute to and share responsibility for the development of the Quilter Financial Planning risk and compliance strategy and the effectiveness of the CRO Risk function
- Contributes to forecasting and manages budgets for areas of responsibility through careful control of costs, monitoring and reporting on variances
Culture
- Individual will need to be comfortable working in a collaborative way with wider teams, whilst being prepared to challenge and raise issues as they arise.
- Individual will need to be able to remain independent whilst ensuring they are close enough to business risks and issues to provide value-add oversight and challenge
- Individual will need to exhibit a strong understanding of the 1st line
About you
- Financial or risk management qualification (FIA, FCA, FIRM or similar)
- Degree level education or equivalent industry experience
- Significant experience gained within wealth management, insurance or retail banking sector
- Experience and knowledge of the regulatory environment within the UK retail financial advice sector
- Thorough knowledge of enterprise risk management frameworks
- Thorough knowledge of operational and financial risk management
Benefits
No matter what job you do you should feel valued and appreciated. That's why we offer a competitive total reward package, which enables our employees to share in the success they help to create.
Core Benefits (Fixed Term Contract)
Holiday: 26 days
Quilter Incentive Scheme: All employees are eligible to participate in our incentive scheme, based on the company's performance and their contribution to it
Pension Scheme: 10% non-contributory company pension scheme that can be boosted through personal contributions
Benefit Allowance: A cash benefit allowance is payable in lieu of some of our core benefits
Core Benefits (Perm)
Holiday: 26 days
Quilter Incentive Scheme: All employees are eligible to participate in our incentive scheme, based on the company's performance and their contribution to it
Pension Scheme: 10% non-contributory company pension scheme that can be boosted through personal contributions
Private Medical Insurance: Single cover as standard, cover can be increased at your own cost
Life Assurance: 4x your salary, cover can be increased at your own cost
Income Protection: 75% of salary payable after 26 weeks of absence
In addition to our core benefits we offer a range of flexible benefits that you can choose from and pay for conveniently via a salary deduction.
Our promise
At Quilter, we're committed to creating an inclusive culture that embraces diversity. We promote equal opportunities and make sure no applicant receives less favourable treatment on the grounds of gender, marital status, nationality, ethnicity, age, sexual orientation, responsibilities for dependants, physical or mental disability. We select candidates for interview based purely on their skills, qualifications, experience and potential.
