1st Line Risk and Control Manager – Client Group and Product in London

The 1st Line Risk and Control Manager – Client Group and Product sits within the 1st Line of Defence and plays a key role in strengthening governance, risk oversight and control effectiveness across Client Group and Product. Reporting within the 1st Line Risk & Controls function, the role supports senior leaders through high‑quality governance, clear insight and proportionate challenge. It helps enable leaders to demonstrate that risks are owned, understood, controlled and managed within M&G’s risk appetite. The role operates with significant visibility, acting as a trusted first‑line risk and control partner to management and governance forums.

Key Responsibilities

• Support the effective implementation and operation of M&G’s Risk Governance Framework across Client Group and Product.
• Act as the primary day‑to‑day first‑line contact for key Client Group and Product governance and oversight forums, including relevant legal entity Management Committees and Boards.
• Prepare, review and quality‑assure first‑line risk reports, governance submissions and reporting packs, ensuring accuracy, clarity and proportionate challenge.
• Coordinate, track and progress governance actions, ensuring timely follow‑up, appropriate escalation and closure in line with committee expectations.
• Support the forward planning of governance and reporting agendas to ensure timely coverage of material risk and control topics.
• Produce clear, concise and decision‑focused risk and control MI for senior management and governance forums.
• Analyse themes, trends and emerging risks, translating information into meaningful insight and clear recommendations.
• Support governance forums with high‑quality analysis, insight and narrative, rather than purely descriptive reporting.

Risk Management & Controls

• Support the production, refresh and ongoing maintenance of key functional and legal entity RCSAs, ensuring consistency, quality and alignment with the Operational Risk Standard and Group expectations.
• Support risk owners in articulating material risks, key controls, risk ratings and justifications in a clear, balanced and well‑evidenced manner.
• Support risk events, conflicts of interests and issue management activity where required, including tracking and remediation support.
• Lead or support risk and control deep dives across products, processes and change initiatives, identifying control weaknesses, design gaps and opportunities for enhancement.
• Support the design, documentation, assessment and ongoing maintenance of key controls within relevant risk and control systems.
• Help drive delivery of Risk and Control Improvement Plans (RCIPs), ensuring actions are practical, proportionate and embedded into business‑as‑usual.
• Support remediation of control deficiencies, audit findings, regulatory issues and self‑identified issues, working closely with business owners to achieve timely and sustainable outcomes.
• Contribute to the maintenance and enhancement of supporting artefacts such as process maps, control libraries and underlying documentation to reflect the true operating environment.
• Coordinate and support effective Client Group and Product engagement with Second‑ and Third‑Line reviews, including Risk, Compliance and Internal Audit.
• Act as a key first‑line contact during reviews and audits, supporting evidence provision, issue tracking and timely action closure.

Capabilities & Behaviours

• Applies sound judgement to deliver proportionate, outcome‑focused risk and control solutions.
• Operates as a trusted advisor, providing constructive, confident and well‑reasoned challenge while maintaining strong stakeholder relationships.
• Takes accountability and ownership for delivering high‑quality outputs and driving actions through to completion.
• Comfortable working across multiple business areas, balancing competing priorities and deadlines.
• Able to manage challenge and conflict in a professional, calm and supportive manner.
• Strong analytical, organisational and problem‑solving skills, with attention to detail and accuracy.
• Demonstrates integrity, resilience and a positive, ‘can‑do’ mindset, leading by example.

Knowledge, Skills & Experience

• Experience working in a first‑line risk, control or governance role within a regulated financial services environment.
• Strong understanding of risk management frameworks, tools and methodologies, including RCSAs, control design, testing and assurance.
• Experience preparing and presenting risk and control materials for senior management and governance forums.
• Proven ability to produce clear, structured and high‑quality management information and analysis.
• Knowledge of asset management products, distribution models and operational or functional environments would be beneficial.

What we offer

• A valuable pension scheme of 18%, with 13% made up of Employer Contributions and 5% Employee Contributions.
• Share Save and our Share Incentive Plan, together with access to financial wellbeing and support services.
• 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.
• 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.
• A diverse workforce and an inclusive culture at M&G, underpinned by our policies and employee‑led networks.
• We welcome applications from candidates with long‑term health conditions, disabilities, or neuro‑divergent conditions.