Chief Risk Officer in Crewe

Reclaim Fund Ltd (RFL) operates the UK’s Dormant Assets Scheme, a voluntary initiative that enables financial institutions to channel dormant assets for public good. Since our launch in 2011, more than 50 businesses have chosen to participate – unlocking over £1 billion for transformational social and environmental initiatives across the UK. As an arm’s-length body of HM Treasury and regulated by the Financial Conduct Authority (FCA), RFL works across the public and private sectors. Since 2022, RFL has been working in close partnership with government and industry stakeholders to expand the Dormant Assets Scheme to include a wider range of dormant assets. As a result, RFL has embarked on a period of significant expansion and innovation.

Your Opportunity

To support our growth, we are seeking a Chief Risk Officer to provide Risk Management oversight across the whole of RFL’s activities. As our Chief Risk Officer you will lead RFL’s Risk and Compliance department, providing oversight, challenge, advice and opinion to management and Board across all categories of risk. This includes direct responsibility for RFL’s Risk and Compliance Managers, chairing RFL’s Executive Risk Committee (ERC), supporting the organisation of the RFL Board, Audit & Risk Committee (AARC) and Investment Committee (IC). Reporting to the Chief Executive, you will operate as part of the Executive Committee, working collaboratively to ensure RFL delivers against its strategy, creating a good working relationship with the RFL Board, including navigating the right balance between challenge and collaboration. This role is a unique opportunity to join a small, high-performing team at a pivotal moment in our journey, you will need to balance compliance and strategy, ensuring RFL remains proactive and protected, whilst enabling our growth targets.

Your Responsibilities as our Chief Risk Officer

• Lead RFL’s Risk department, providing oversight, challenge, advice and opinion to management and Board across all categories of risk and considering Risk Appetite.
• As Second Line of Defence (2LOD), maintain an appropriate level of objectivity whilst also being a core part of the small RFL team.
• Ensure that RFL’s Risk department has sufficient skills and capability to cover all categories of risk.
• Provide risk input and challenge to the business planning and strategy processes.
• Chair the Executive Risk Committee (ERC), ensuring it runs effectively and provides oversight in line with its Terms of Reference.
• Deliver reports to the ERC, AARC and Board which give a clear overview of the Risk Profile, provide opinions on key matters and recommend actions to be taken.
• Ensure the firm’s risk management and internal control systems comply with the principles of the UK Corporate Governance Code.
• Consider appropriateness of risk management resource, sourcing external expertise as needed, subject to agreement from the CEO and Audit & Risk Committee.
• Own RFL’s Risk Management Framework (RMF), ensuring that it is fit for purpose and is embedded and working effectively across RFL.
• Ensure that RFL has an appropriate risk and control culture which is enabled by the RMF and fits with RFL’s overall values and culture.
• Own RFL’s Risk System and ensure it is embedded across the organisation, maintained and kept up to date.
• Provide assurance that RFL’s policies are understood, embedded properly and complied with by the First Line of Defence (1LOD).
• Provide oversight of breaches of Risk Appetite and Risk Policies, ensuring that appropriate mitigating actions are in place and escalation is appropriate and timely.
• Provide advice and assurance to management and Board on the design and effectiveness of the RMF, including Risk Appetite, Risk Strategy and Risk Policies, and of the operation of key controls.
• Lead the Risk department’s oversight of financial risk, providing challenge and advice to the business on financial matters, including accounting and investments.
• Provision of oversight on the development and use of RFL’s capital model, including engagement with third party advisors as required.
• Provide strategic advice to Board and management on financial aspects of the business as required.

Operational Risk

• Lead the Risk Function’s oversight of Operational risk, providing challenge and advice to the First Line on all operational risk aspects of the business.
• Provide advice and challenge to RFL’s change programmes, ensuring that Risk provides opinions at critical stages of the programme, including go/no go decisions.
• Provide oversight of Information Technology and Security risks, including whether RFL’s Cyber Security Strategy is appropriate to manage cyber risks within appetite.
• Provide oversight of RFL’s Operational Resilience, including Business Continuity and Disaster Recovery.

Regulatory and Legislative Compliance

• Lead RFL’s regulatory risk and compliance activities, including horizon scanning, regulatory affairs and engagement with the regulator.
• Provide strategic advice and opinion to the Executive Team and Board on RFL’s engagement with regulators, taking into account relevant regulations.
• Provide advice on interpretation and the application of regulations to RFL.
• Own the relationship with the FCA, ensuring this remains open and constructive.
• Provide oversight of RFL’s financial crime risk management, including anti-money laundering, counter-terrorist financing, fraud prevention, bribery and corruption and sanctions compliance.

Leadership and Delivery

• Oversee and continuously improve all aspects of risk functions across RFL, ensuring we remain efficient, compliant and high performing.
• Lead and inspire high performing Risk and Compliance functions, fostering a culture of excellence, transparency and continuous improvement.
• Act as a Certified Person under SMCR, subject to an annual fit and proper assessment.

What We’re Looking For

Essential Experience and Capabilities

• Educated to degree level and/or holds a relevant professional qualification.
• Proven track record in the leadership of risk functions, including management of risk across all categories of Risk.
• Significant experience of operating at a senior management level and of working with and influencing senior stakeholders, including at Board level.
• Relevant experience in the Financial Services industry (e.g. an insurance company), preferably with larger businesses.
• A thorough knowledge of the Financial Services regulatory environment, including experience of liaison with the FCA.
• Experience in providing oversight of financial risks, including investments and risk-based capital.
• Extensive experience of operational risk, including technology.
• Good knowledge of change methodology and experience of providing oversight of technological and people change programmes.
• Aptitude for working with government departments, including understanding of the requirements of Arm’s Length Bodies and of managing political risk.
• Extensive knowledge of risk management approaches and regulatory requirements.
• Exceptional communicator (both verbally and in writing), with an ability to quickly build and maintain strong relationships.
• Highly organised, with excellent judgement, discretion, and attention to detail.
• Trusted, discreet and professional with a high degree of integrity.
• Strong critical thinking, analytical, and forward-planning skills.
• Skilled at simplifying complexity, driving clarity and action.
• Adaptable, proactive and results-oriented with a focus on delivery excellence.
• Commitment to continuous improvement and learning.

Key Relationships

Internal

• Chief Executive Officer (Direct Manager)
• Chief Development Officer
• Chief Operating Officer
• Compliance Manager (Direct Report)
• Executive Assistant to the Executive Team (Direct Report)
• Non-Executive Directors
• Wider RFL functions

External

• Key RFL Suppliers, notably GRC system provider & outsourced Internal Auditors.

Eligibility and Additional Information

• Candidates must be eligible to work in the UK
• RFL offers hybrid and flexible working arrangements
• The role will involve regular UK travel, mostly to London and Crewe

RFL puts a great deal of emphasis on maintaining a positive, caring and professional work environment in which all colleagues and external partners are valued and respected. Personal behaviours play an essential role in contributing to this positive environment and are considered an important factor in measuring individuals’ performance.

How to Apply

If you are ready to play a defining role in the next chapter of RFL’s journey we’d love to hear from you! Please apply directly via Indeed by submitting your CV and Cover Letter. Please note: this vacancy may close early if we receive a large number of applications.