Manager of Non-Financial Risk - Asset Management, Private Markets in London

The Manager of Non‐Financial Risk in Asset Management, Private Markets is responsible for supporting the Head of Non‐Financial Risk to execute the overall vision, strategy and direction of Non‐Financial Risk across the Private Markets business area within Asset Management. This role reports to the Head of Non‐Financial Risk who ultimately supports the CRO in meeting their non‐financial risk responsibilities as an SMF 4.

Responsibilities

• Overall engagement: This role engages and supports all the Private Markets business area globally as directed by the Head. This role supports the Head in engaging the M&G plc Central Non‐Financial Risk department to provide meaningful non‐financial risk specialist services to the Private Markets business area, such as (but not limited to) 2LOD Data Protection and Privacy, Assurance and Monitoring activities and Third Party specialist expertise. This role is an experienced business risk partner to the Private Markets business areas and is required to engage with mid to senior level stakeholders on priority risk management matters.
• Governance and reporting: Support the Head in establishing and maintaining a robust Non‐Financial Risk Governance model with a core focus on Private Markets. Support the Head in designing, implementing and embedding best‐in‐class risk reports on non‐financial risk matters on the Private Markets business area without duplication of risk reports already submitted by 1b / other teams. This includes automation of risk analysis where possible. Collaborate with Private Markets 1b to design and implement best‐in‐class risk reports as first line risk responsibilities. Support the Head in reviewing, challenging and provision of second line risk opinions (where required for material risk matters) for Private Markets. Embed within the Private Markets Governance model by attending all core meetings, working groups and committees as a trusted and valued business risk partner.
• Non‐Financial Risk Framework: Support the Head in the production, establishment and maintenance of all Risk Framework documentation on Non‐Financial Risk matters with particular focus on Private Markets. This includes (but not limited to): Risk Management Framework, Risk Appetite Statement, Risk Policies, Risk Taxonomy, Business Standards, Procedural Documentation (whilst business standards and procedural documentation is not necessarily owned in second line, the NFR team oversights the governance of these), RCSA methodology. Design, implement and embed key mandatory training to support the Private Markets business in performing its non‐financial risk responsibilities. Support the Head in the design, implementation and embedding of risk systems in Private Markets (in collaboration with Private Markets 1b teams).
• ICARA, MIFIDPRU 8 (prev. Pillar III), wind down, emerging and transformation risk: Support the ICARA process from a 2LOD Private Markets perspective regarding top risk identification / material harms assessments, scenario identification, development, generation and assessment of capital requirements. Whilst 1LOD will conduct the work, be a 2LOD business risk partner in providing insights, reviews and challenges to support these activities.
• Deep dives, thematic reviews: Embed the Deep Dive and Thematic Review approach taken by the Non‐Financial Risk team within Private Markets business area. Identify the key deep dives, thematic reviews and assurance reviews to be undertaken in the Private Markets business. Collaborate with internal audit and other assurance / governance teams to follow an Integrated Assurance Review approach – including the identification of pervasive themes in Private Markets. Review and challenge the results of all deep dives, thematic and assurance reviews undertaken in non‐financial risk for the Private Markets business.
• RCSA cycle (incl. business value chain implementation): Review, challenge and advise on the RCSA setup and design in the Private Markets business. Monitor, review and challenge the RCSA cycle undertaken by Private Markets first line as a trusted business partner. Provide advisory support where needed. Conduct monitoring around the Private Markets RCSA cycle to identify key areas of concern, improvements of challenges identified (proactively and reactively). Provide risk system support (technical advisory) to the Private Markets business.
• Incidents management: Support the Head in monitoring, reviewing and challenging the incidents management approach taken by the Private Markets business. Monitor, review and challenge the incidents in the business to identify (i) themes / concentrations of incidents, (ii) cultural / technical improvements, (iii) data quality improvements of cause, event and effect, (iv) quality improvements of remedial actions to prevent reoccurrence and treat customers fairly, (v) improvements in compensable events, (vi) gaps / improvements in engaging with all technical specialists during incident investigations, (vii) reportable events to regulators.
• Advisory: Provide specialist technical advisory support on non‐financial risk matters, for example (but not limited to): supplier / third party governance, operational risk, model risk, etc. Know when to reach out to specific technical specialists in the business to support non‐financial risk matters. E.g., supplier / third party risk, cyber risk, data privacy risk, etc.
• RFP / Client due diligence: Support the Head in providing the RFP / Client due diligence teams for Private Markets products with the appropriate non‐financial risk information. Attend meetings with clients / prospective clients to present the non‐financial risk approach.
• Team management: Support the Head in managing the day‐to‐day responsibilities of the team such as workloads, time management, prioritisation of activities.

Qualifications & Experience

• Essential: Robust / deep knowledge of the asset management business and associated risk regulatory and technical requirements.
• Essential: Strong / robust knowledge of Private Markets.
• General knowledge of team management.
• Essential: Professional degree / qualification in non‐financial risk management (or equivalent). Membership to key external professional bodies (e.g., IOR, IRM, IA, etc.).
• Experience Level: Manager/Expert.

Benefits

• Enjoy 38 days annual leave including bank holidays, with the opportunity to purchase up to 5 extra days and additional flexibility through our Time Off When You Need It policy.
• Our market leading Inspiring Families policy includes comprehensive support and paid parental leave covering maternity, adoption, surrogacy, and paternity leave.
• Health & Protection cover including Private Healthcare, Critical Illness cover and Life Assurance for you, with family options.

Diversity & Inclusion

We are looking to attract, promote and retain exceptional people. We also welcome those who take part in military service and those returning from career breaks. Regardless of gender, ethnicity, age, sexual orientation, nationality, disability or long term condition, we are committed to an inclusive culture.