Risk And Controls Assurance Analyst

Company Description

Legal & General (L&G) is a leading UK financial services group and major global investor. We have been safeguarding people's financial futures since 1836, and strive to build a better society, while improving the lives of our customers and creating value for shareholders. We are one of the world's largest asset managers and provide powerful asset origination capabilities. Together, these underpin our retirement and protection solutions: we are an international player in pension risk transfer, in UK and US life insurance, and in UK workplace pensions and retirement income.

L&G Retail supports the savings, protection and retirement needs of around 14 million people, through our portfolio of retail and workplace businesses. Our Retail division helps people enjoy a more colourful retirement, both directly and through their employers, including Lifetime Mortgages, Retirement Interest Only Mortgages and financial advice on our range of lending products. We are the UK's number one individual life insurer, and also provide Group Protection products for employers - all helping people to plan for the unexpected. We support home buying through our Mortgage Club - the UK's largest - and our award-winning Surveying Services team. And our fintech team finds and supports socially useful start-ups and scale-ups working in the workplace, home, insurance and wealth areas. Joining us means helping create brighter financial futures for all our customers.

Job Description

We are recruiting for a Risk and Controls Assurance Analyst to join us. In this role, you will monitor and report on the performance of Retirement Income processes and services for ongoing accuracy and compliance, whilst protecting the business from potential risks of fraud or poor practice. You will also oversee the control environment, performing regular testing of its ongoing effectiveness. Additionally, you will execute pre-audit control testing and assurance that trends from risk events and previous audit actions remain in place.

What you will be doing:

• Creating and managing auditing requirements for annuitant payments across IPS.
• Working with Head of Operations, Head of Customer Payroll, Risk, Operational Governance, and Operational Tax representatives to create, monitor, and report on health of payrolls from a transactional process, compliance, and risk perspective for leadership team and control framework sign-off.
• Ongoing review of all procedural documentation relating to processes and services across Retirement Income to ensure they remain up-to-date and accurate.
• Ensuring all risks and their associated key controls are operational within the OSX system.
• Performing ongoing Quality Assurance for items such as bank account (including Citi processes), address change, payment method, E2E new business set up including underwriting, off-system payments, and amendments to values to monitor data accuracy, SLA/timeliness, process compliance, fraud, and identifying training needs.
• Monitoring suspensions, gone aways, overpayment recoveries and write-offs for process compliance and timeliness of both action and follow-up activities, reporting on agreed SLA breaches and overpayment trends.
• Monitoring suspicious customer behaviour activity such as frequency of bank changes, pay date changes enabling tax fraud and/or money laundering.
• Monitoring suspicious staff behaviour activity such as requestor/authoriser patterns, out-of-hours access and changes, appropriate use of system markers, unusual activity (unknown overtime/non-standard work patterns), and same requester/authoriser on a repeated or frequent basis.
• Performing periodic reviews of individual staff system access levels to ensure appropriate systems permissions are in place, including: read or write access, authorisation limits, correct level of access, permissions in line with business area, repeat/duplicate logins, timeliness of requests (starters/changes/leavers).
• Ensuring principles of Conduct Risk are embedded into day-to-day operations to deliver good customer outcomes at all times.
• Ensuring all business processes and internal controls within LGRR are performed in a way that delivers good customer outcomes and demonstrates effective management of Conduct Risk.

Qualifications

Who we are looking for:

• Understanding of the intricacies of pension product payments, preferably within the LGRR framework.
• Familiarity with auditing processes to ensure compliance and accuracy in financial transactions.
• Proficiency in recording and analysing data to generate insightful reports.
• Ability to present Management Information (MI) in a visual, engaging, and meaningful way to stakeholders.
• Competence in using Excel at an intermediate level for data analysis and reporting.
• A strong focus on adhering to compliance standards and regulations.
• Conducting audits based on solid evidence and thorough analysis.
• A focus on achieving measurable outcomes and driving results.

Whatever your role, we reward performance and behaviour with a package that looks after all the things that are important to you. Here are some of the benefits we offer:

• The opportunity to participate in our annual, performance-related bonus plan and valuable share schemes.
• Generous pension contribution.
• Life assurance.
• Healthcare Plan (permanent employees only).
• At least 25 days holiday, plus public holidays, 26 days after 2 years' service. There's also the option to buy and sell holiday.
• Competitive family leave.
• Participate in our electric car scheme, which offers employees the option to hire a brand-new electric car through tax efficient salary sacrifice (permanent employees only).
• There are the many discounts we offer - both for our own products and at a range of high street stores and online.
• In 2023, some of our workspaces were redesigned. Our offices are great spaces to connect and collaborate and have your wellbeing at the heart.

Additional Information

At L&G, we believe it's possible to generate positive returns today while helping to build a better future for all. If you join us, you'll be part of a welcoming, inclusive culture, with opportunities to collaborate with people of diverse backgrounds, views, and experiences. Guided by leaders with integrity who care about your future and wellbeing. Empowered through initiatives which support people to develop their careers and excel.

We care passionately about outcomes rather than attendance and are therefore open to discussing all kinds of flexible working options including part-time, term-time and job shares. Although some roles have limited flexibility due to customer demand, we accommodate requests when we can.

It doesn't matter if you don't meet every single criterion in this advert. Instead, think about what you excel at and what else you can bring in terms of strengths, potential and connection to our purpose.