At a Glance
- Tasks: Lead transformation in investment operations and manage operational risk across a multi-asset environment.
- Company: Join LGPS Central, a leading FCA regulated asset manager for local authority pension funds.
- Benefits: Enjoy competitive salary, generous holiday, hybrid working, and excellent learning opportunities.
- Other info: Be part of a diverse team committed to responsible investment and innovation.
- Why this job: Make a real impact in a dynamic role that shapes the future of investment operations.
- Qualifications: Proven leadership in asset management and operational transformation required.
The predicted salary is between 49500 - 60500 £ per year.
Join us at a pivotal moment, where investment operations expertise, data integrity, and process excellence come together to underpin effective LGPS pooling and deliver strong outcomes.
The Head of Operational Risk, Change & Supplier Oversight is a senior leadership role responsible for leading the transformation of Investment Operations within a complex, multi-asset asset management environment.
Operating within a "Change the Bank" mandate, the role is accountable for designing and embedding a scalable, resilient, and future-ready operating model.
It brings together leadership across operational risk and control, transformation delivery, supplier and asset servicing oversight, and Operational Due Diligence (ODD).
The role represents Investment Operations across key enterprise programmes, including the development of new FMA services, and plays a critical role in delivering Enhanced Status readiness.
It requires strong leadership in navigating ambiguity, shaping evolving operating models, and driving change at pace.
Working in close partnership with Investment, Technology, Data, Risk, and Client teams, the role ensures delivery of a high-performing, technology-enabled operational platform that supports complex asset classes and business growth.
This is a certified role under the Senior Manager's Certification Regime and is subject to regulatory fitness and propriety requirements.
What you'll be doing
- Operational Risk & Controls
- Design, maintain and own the first line operational risk and control elements of the Enterprise Risk framework, aligned to the three lines of defence, ensuring audit and regulatory requirements are met
- Working closely with the Head of Enterprise risk and operational teams, identify the appropriate operational risks for inclusion within the relevant parts of the Enterprise Risk Framework
- Work with the operational teams to identify and assign risk owners, design and structure appropriate controls, ensure risks are assessed appropriately and ongoing monitoring and management are fully embedded
- Design and oversee the production of operational KRIs, review and oversee operational incident management, and governance reporting
- Lead on the design and oversight of operational resilience measures and strategies
- Enterprise Change & Transformation Leadership
- Define and deliver the Investment Operations transformation strategy and plan. aligned to business priorities
- Lead target operating model design, process optimisation, and adoption within Operations of automation, AI, and data capabilities (working closely with the Head of Operational Service Delivery and Technology and Data teams)
- Manage the operational change portfolio to drive efficiency, control improvements, and service quality
- Manage operational change team resources to deliver and embed change successfully
- Operations Enterprise Programme Representation
- Represent Operations in firm-wide change programmes and support delivery of new service models
- Contribute to Enhanced Status readiness across operational maturity, risk, and service delivery
- Translate strategic requirements into practical operational solutions and manage interdependencies
- Supplier & Asset Servicing Oversight
- Owner and lead for the Global custody, asset servicing and other significant operational service provider relationships, applying the strategic partnership model and governance framework to achieve strong oversight, monitoring and value
- Design and run the appropriate governance structure for each major relationship and engage internal, Exec and non Exec stakeholders as appropriate in running the services
- As part of the governance, lead service performance monitoring, governance forums, and issue resolution, managing internal coordination across stakeholders of the services
- Provide the main functional point of contact for clients in relation to their Custodian and Asset Servicing suppliers to assist them in ensuring a robust and joined up end to end model
- Drive commercial value, scalability, and alignment of suppliers to the future operating model
- Operational Due Diligence (ODD) Framework & Manager Oversight
- Own and enhance the risk-based ODD framework across external managers and key providers
- Oversee onboarding, ongoing monitoring, and event-driven reviews using internal and external expertise
- Deliver clear reporting and ensure alignment with operational risk and supplier oversight
- Operating Model & Capability Development
- Design and evolve a future-fit Investment Operations operating model
- Work with the Head of Operational Service Delivery to build and develop a high-performing team with strong capabilities in risk, change, and supplier oversight
- Embed data-driven, automated, and AI-enabled ways of working and develop the team capabilities to be self sustaining in continuously evolving processes for greater efficiency and quality
- Operating Effectively in Ambiguity
- Provide clarity and leadership in a fast-changing and evolving environment
- Balance delivery pace with strong risk and control discipline
- Support senior stakeholders in navigating complex decisions and trade-offs
About us
LGPS Central (LGPSC) Ltd is the FCA regulated asset manager for fourteen local authority pension funds across the Midlands.
LGPSC is jointly owned on an equal shares basis by those Partner Fund, and it is responsible for managing £100bn+ of their assets.
It is one of six Local Government Pension Scheme (LGPS) asset pools in the UK.
LGPS Central's Partner Funds are
- Cheshire Pension Fund
- Derbyshire Pension Fund
- Leicestershire Pension Fund
- Nottinghamshire Pension Fund
- Shropshire Pension Fund
- Staffordshire Pension Fund
- West Midlands Pension Fund
- Worcestershire Pension Fund
- Gloucestershire Pension Fund
- Hampshire Pension Fund
- Suffolk County Council
- Wiltshire Pension Fund
- Norfolk Pension Fund
- Oxfordshire Pension Fund
The Company is committed to responsible investment and has made responsible investment a core part of the investment process in every asset class.
LGPS Central offers a friendly and diverse, hybrid working environment with a range of employee benefits.
The Company moved to new premises at i9, Wolverhampton Interchange in January 2022, close to local transport links.
Our objective is to be a leading investment management company working with and for our Partner Funds.
With a focus on value for money and performance we want to aspire to be one of the best because this is how we will deliver the superior investment returns and low costs for our Partner Funds
Requirements
Experience
- Proven experience in asset management, institutional investment, or wealth environments, with a proven track record at senior leadership level
- Demonstrated success leading large-scale operational transformation in complex, evolving organisations
- Deep experience across multi-asset operations, operational risk frameworks, and third-party/asset servicing models
- Technical & Functional Expertise
- Strong expertise in operational risk and control frameworks, supplier governance, and investment operations
- Proven experience designing and implementing target operating models and delivering data- and technology-enabled transformation
- Experience in Operational Due Diligence (ODD) across external managers, with a solid understanding of the regulatory landscape
- Leadership & Behavioural Capabilities
- Strategic leader able to translate vision into execution in fast-paced, ambiguous environments
- Strong stakeholder management skills, with the ability to influence at senior levels and drive cross-functional alignment
- Resilient and adaptable, with clear communication, accountability, and a focus on delivery
Qualifications
- Degree or equivalent in a relevant discipline
- Professional qualifications desirable (e. g. CFA, IMC, FRM, PRINCE2, Lean, Risk qualifications)
- Has or can meet all the requirements of being an FCA approved person
What do we offer?
We are proud to provide our people with a premium and exclusive benefits package and we are continually improving the rewards we offer.
Here are a few of the valuable rewards that you will enjoy
- Competitive salary
- An enhanced and generous Pension Scheme
- 30 days' paid holiday plus bank holidays
- 2 days paid volunteering days
- An extra paid Company Day in addition to paid holidays
- Excellent Learning & Development Opportunities
- Welfare and Family friendly policies
- Enhanced pay for new parents
- Access to our Employee Assistance Programme 247 Health & Wellbeing Support
- Vitality Private Medical Insurance
- Hybrid Working
- Company Service Awards
- Cycle to Work Scheme
- Company Electric Vehicle Scheme
- Winner of the Cultural Awareness Initiative of the Year FT Advisors Diversity in Finance Awards 2023
- Winner of Diversity and Inclusion Award LAPF In Investments Award 2023
- Winner of LAPF Investment Innovation
- Winner of Pool of the Year 2025
- #J-18808-Ljbffr
Head of Operational Risk, Change & Supplier Oversight employer: LGPS Central
At LGPS Central, we pride ourselves on being an exceptional employer that values governance, integrity, and strategic insight. Our collaborative work culture fosters innovation and professional growth, providing our Non-Executive Directors with the unique opportunity to influence the future of public pensions in the UK while working alongside a team of dedicated professionals committed to responsible investment practices.
StudySmarter Expert Advice🤫
We think this is how you could land Head of Operational Risk, Change & Supplier Oversight
✨Tap into Campus Networks
If you're still in uni, don’t forget to engage with your campus's career services and attend finance-related events. Banks often do presentations and recruitment drives on campus, so put yourself out there and make use of these opportunities to show off your passion for the field.
✨Get Certified
Consider pursuing relevant certifications like the CFA or ACCA while you’re job hunting. They not only beef up your CV but also connect you with professional bodies which can lead to networking opportunities and even job openings in banking and financial services.
✨Connect on Professional Platforms
Join finance-focused groups on platforms like LinkedIn and engage in discussions. This can really help you stand out from the crowd, allowing potential employers to see your knowledge and interest in industry trends. Plus, you might stumble upon job postings shared exclusively within the group.
✨Apply Directly and Be Proactive
Don’t shy away from reaching out directly to firms like LGPS Central. Use their websites and apply through them, but also consider following up with a polite email to express your enthusiasm. Being proactive can make a huge difference in getting noticed in the competitive financial services sector.
We think you need these skills to ace Head of Operational Risk, Change & Supplier Oversight
Some tips for your application 🫡
Show Off Your Numbers!:In the banking and financial services world, quantifiable achievements are key. Make sure your CV highlights your grades in relevant subjects, any financial certifications you hold, and specific projects where you've delivered measurable results. Employers love to see how your skills translate into real-world success.
Tailor Your Cover Letter to the Role:When applying for a full-time position, your cover letter should make a direct connection between your experience and the job description. Don't just state your enthusiasm for finance—dive into how your background in banking or financial analysis sets you apart. Let your passion shine through while being specific about what you can bring to LGPS Central.
Include Relevant Financial Software Experience:If you've worked with financial modelling tools or software like Excel, SAP, or specific analytical tools during your studies or internships, bring that up! Highlighting your proficiency can really make your application pop and show you're ready to hit the ground running in a full-time role.
Research and Reflect:Before hitting that 'apply' button on LGPS Central's website, do a little digging. Look up their recent projects, values, and culture. Reflecting their ethos in your application can make a huge difference and show you’re genuinely interested in being part of the team!
How to prepare for a job interview at LGPS Central
✨Brush Up on Financial Analysis Skills
Make sure you're well-versed in financial concepts and analytical techniques relevant to banking and financial services. Get comfortable with tools like Excel for modelling or financial forecasting, as technical questions in this area are common during interviews with LGPS Central.
✨Prepare for Case Studies
Expect to tackle case studies that demonstrate your problem-solving skills in real-world banking scenarios. Familiarise yourself with the types of problems you might face—think risk assessments or investment evaluations—and be ready to articulate your thought process clearly.
✨Show Your Passion for Finance
Since this is a full-time position, employers at LGPS Central will be keen to see your genuine interest in finance. Be prepared to discuss recent industry trends or news articles that excite you, showcasing your enthusiasm and engagement with the field.
✨Network with Industry Professionals
Before your interview, reach out to current or former LGPS Central employees on platforms like LinkedIn. They'll offer unique insights into the company's culture and the interview process, which can give us a delightful edge in showcasing a good fit for the team.
