Workflows Business Control Officer

The Business Control Officer (BCO) will lead the implementation of a robust risk and control framework within the business, consistent with LSEG policies and standards. This role will report to the Head of the Business and will co-ordinate activity across the business and centralised first line of Defence.

Responsibilities

• Support the Head of the business to establish a strong risk culture within the Division, including risk awareness and training offering.
• Ensure business processes are robust, clearly owned, and operating procedures are well documented.
• Ensure controls are appropriately designed, operating effectively and periodically reviewed/tested.
• Document controls to ensure a complete and accurate control inventory, including the review and challenge of relevant risk-based control testing in line with Group Framework / Guidance.
• Establish first line risk processes within the Division for risk identification and assessment and to support risk-based decisions, including risk and control assessments, new product and market approvals, third party risk management, financial crime compliance, etc.
• Ensure all identified risk remediation activities identified for ‘Outside Risk Tolerance’ risks are escalated and tracked within relevant governance forums.
• Ensure limit frameworks and KRIs are in place for controlling risk exposures with thresholds set in accordance with Group Risk Appetite and procedures established for managing breaches.
• Establish local governance to support risk-based decisions by the Divisional ERC, including procedures for issue escalation and reporting of incidents and breaches.
• Lead the First Line of Defence (1LOD) risk assessment and maintenance of the Risk and Control Assessment (RCA) working with central first line of defence, including ensuring effective remediation actions are identified to address control vulnerabilities.
• Responsible for escalation and reporting of any ‘Outside Risk Tolerance’ risks which are risk accepted by the business and on-going re-assessment.
• Lead 1LOD and present incident reviews on material incidents, including documentation of root cause and remediations to mitigate risk going forwards.
• Provide 1LOD expert assessment of risks associated with new strategy, new products, major projects, or overall risk profile to business stakeholders.
• Ensure self-identified Audit issues are flagged to senior management and coordinate with internal audit teams to support planned audits and review findings to plan remediation.

Partner with Centralised 1st line of defence to:

• Review Line 2 requirements and provide input into key framework design decisions at senior level to ensure the approach works for the division.
• Ensure Group Risk Policies and Standards are adhered to within the Division, including coordinating attestations and policy change oversight and waiver management.
• Maintain a Risk Register within the Division regularly reviewed and updated by the business.
• Coordinate the risk reporting and metrics produced by the Division to support divisional leadership and Group and Divisional risk committees to perform their risk duties.

Candidate Profile / Key Skills

• Overall work experience of at least 10+ years in Risk Management, Framework or related areas in Financial Services.
• Deep understanding of risk and risk management.
• Previous experience of Risk Management requirements and controls to ensure compliance with external laws, internal policies, standards, regulations, and industry expectations.
• Previous stakeholder management and leadership experience.

Additional Skills

• Experience working with cross functional teams such as tech and non-tech environment.
• Self-starter with a desire to deep dive and leverage data.
• Strong analytical and ability to influence without authority across teams.
• Strong leadership skills with a positive track record of developing talent.

Career Stage Manager

Benefits

• Healthcare support.
• Retirement planning.
• Paid volunteering days.
• Wellbeing initiatives.

Equal Opportunity Statement

We are proud to be an equal opportunities employer. This means that we do not discriminate on the basis of anyone’s race, religion, colour, national origin, gender, sexual orientation, gender identity, gender expression, age, marital status, veteran status, pregnancy or disability, or any other basis protected under applicable law. Conforming with applicable law, we can reasonably accommodate applicants' and employees' religious practices and beliefs, as well as mental health or physical disability needs.