Head of 2nd Line Risk and Compliance, Asset Management

Part Time Role 3-4 days a week. Flexible on preferred working pattern.

Canada Life Asset Management is the UK based part of our global asset management business, which manages almost C$250bn in public bonds and private debt, commercial mortgages, private funds and property. Our investment portfolios, principally general accounts, are designed to support customers across the group in meeting their long-term objectives.

Our team Canada Life Asset Management has, in the UK, over 100 colleagues and includes more than 50 experienced investment professionals, with almost 20 years' average industry experience and ten years' average tenure at Canada Life Asset Management (CLAM). We are seeking a Head of 2nd Line Risk & Compliance to join the Investments team within CLAM, based in the firm's London office.

Job Summary A direct report of the Managing Director - Asset Management responsible for the oversight of compliance and non-financial risk for CLAM. This role is primarily responsible for providing key support to the Managing Director - Asset Management in the oversight of compliance and non-financial risks within CLAM, including relevant change programmes, covering the risk universe, including regulatory compliance risk. This role provides key support to the Managing Director - Asset Management in ensuring 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 within CLAM to meet the needs of the full range of stakeholders (including Board, executive, Lifeco group and regulators). The role will include engagement and regular interaction with the Global Investments Compliance team. The role will also include the FCA SMF16 & 17 accountabilities for CLAM.

What You'll Do

• Lead the engagement with the 1st line of defence providing 2nd Line oversight of CLAM with regular engagement with the Global Investment Compliance team.
• This covers oversight and challenge of the nature of risk exposures, capital requirements and governance, and their subsequent impact on CLAM and across the whole risk universe, including regulatory compliance risk.
• Develop a shared compliance and non-financial risk monitoring and oversight plan and support delivery aligning with the Global Investments Compliance team.
• 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 within CLAM.
• Support the evaluation of compliance effectiveness and maturity.
• Champion the three lines of defence model for risk management.
• Implementation of the Great West Life ERM framework 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.
• Provide SMF16 & SMF17 accountabilities to CLAM, including regulatory engagement and interaction keeping the Global Investment Compliance team aware of any interactions and impacts to the business.
• Produce quality 2nd Line risk and compliance reporting to Executive, Global Investments Compliance and the CLAM Board.
• Provide non-financial risk leadership in line with our corporate values in the achievement of the business and individual objectives, including the provision of operational and technical risk guidance.

Who You Are

• Good interpersonal/networking skills, with the ability to maintain a variety of relationships with multiple stakeholders.
• Strong communication skills, demonstrating a clear and articulate standard of written and verbal communication in a complex environment, tailored for all levels of management.
• Extensive experience in the asset management industry, including management positions.
• Comprehensive 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 in overseeing the management of non-financial risk and the various approaches to monitor, model and report on non-financial risk.
• Experience of embedding and maintaining an enterprise risk management framework.
• Experience of 'second line of defence' risk oversight and challenge activities.
• Strong influencing skills, with experience of engaging with senior management in order to get desired outcome.
• Proven track record at delivering reporting requirements under tight time pressure with attention to detail.

Qualifications Relevant risk management 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.

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. 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 you.