Manager of Operational Risk Capital

• The IP&I Chief Controls Office (CCO) is not just a function, it’s a strategic engine driving control transformation and excellence across Insurance, Pensions & Investments
• At the heart of the IP&I CCO is a mission to reset risk and elevate control standards. From tackling legacy challenges to leading control environment transformation and control automation, the team is making tangible improvements that unlock our potential to protect customers now, and in their futures
• As a manager with responsibility for our Operational Risk Capital processes, you will play a key role in managing the end-to-end process for IP&I. You will be responsible for coordinating capital inputs, supporting robust governance and oversight, and ensuring the process is delivered accurately and in line with the Solvency II requirements
• This role demands strong leadership, cross-functional coordination, analytical capability, and the ability to influence senior stakeholders
• Managing the operational risk capital process for IP&I, ensuring timelines, governance and deliverables are met
• Ensuring the capital process is delivered in line with requirements, internal policy and relevant governance standards
• Coordinating risk, control and loss data inputs in partnership with Risk Owners, Control Owners and Finance to support capital analysis and reporting
• Providing analysis, challenge and insight on capital drivers, trends and movements to support effective senior management decision-making
• Preparing and coordinating papers, reporting and governance materials to support review and approval of capital outcomes
• Acting as a key point of contact for stakeholders across IP&I, Group functions and second line Risk on operational risk capital matters

Benefits

• A generous holiday allowance: You’ll be eligible for a minimum of 22 days holiday (excluding bank holidays), rising to 30 days based on length of service and grade.
• A flexible way of working: Whether you want flexibility over your location or when you log on, together we can create an approach that works for you and for the business.
• Family leave: Up to 63 weeks of maternity or adoption leave. Statutory maternity or adoption pay is available for 39 weeks, and 20 weeks will be enhanced to the equivalent of full pay. Partners can have six weeks of fully paid paternity leave.
• Flex cash: This is 4% of your basic salary and can be used to spend on the benefits of your choice, or you can choose to take it as a cash top up in your monthly salary.
• Health insurance: Our company funded Private Medical Benefit provides all colleagues with access to good quality medical care, including accommodation, nursing care and specialist advice.
• Colleague Offers: Get discounts on everything from electrical items to cinema tickets and weekly food shopping. You can share this benefit with up to ten family members or friends.
• Financial products: Take advantage of our great financial products, some at a discounted rate, including current accounts, home and car insurance and loans.
• Share plans: Participate in Sharematch and receive matching shares of up to £45 a month from the company, and you can choose to participate in Sharesave, our combined savings and share option plan.
• Pension: We offer a generous pension plan, with all joiners being automatically enrolled in our ‘Your Tomorrow’ scheme. You can decide how much you save and get a say in where your contributions are invested.

Qualifications

• Excellent stakeholder management and communication skills
• Experience in risk management and controls at managerial level
• Strong understanding of ERMF and operational risk frameworks
• An understanding of capital risk framework and model approaches, including Solvency II requirements