Head of Risk & Compliance
22/08/2024
Purpose of the Role
To ensure that a strong and effective 2nd line compliance oversight framework is in place across SBG in order that it can meet high compliance standards.
Maintaining positive relationships with the regulator and ensuring that SBG’s regulatory obligations can be met.
To provide effective risk management and reporting within SBG, facilitating a positive risk culture whilst enabling the business to achieve its objectives.
Responsibilities
- Develop and maintain the second line compliance and financial crime framework – providing
guidance to the group as and when necessary, on all regulatory matters associated with projects, strategy, and day to day business activities.
- Ensure all regulatory returns for the group, including but not limited to RMAR reporting, is
conducted on time and correctly in line with regulatory requirements.
- Build and maintain strong relationships with the Regulator, ensuring the group complies
with obligations to keep the regulator informed of all relevant matters, and be the central point of contact for the regulator, as necessary.
- Develop a robust Compliance oversight and assurance strategy
- Keep abreast of regulatory changes, new compliance issues, and best practices, adjusting the
compliance programme accordingly.
- Ensure that all aspects of the firm’s operations are conducted in compliance with regulatory
requirements, legislation, industry standards, and internal policies.
- Ensure the department provides SME input and engagement with all relevant departments
across the group to ensure that they are fully trained and understand regulatory
requirements on topics such as Retail Conduct Risk, Customer Outcomes and SMCR
requirements.
- Implement an effective compliance training program, including appropriate introductory
training for new employees and ongoing training for all employees and managers. - Act as the Group’s Nominated Officer.
- Escalate information to Aviva Group Compliance as appropriate and be the main point of
contact for Aviva for day-to-day compliance matters.
Whilst the Chief Risk Officer will maintain ultimate responsibility over all aspects of risk within the
second line, the Head of Risk & Compliance has delegated responsibility for the oversight, development, maintenance and performance of the framework, strategy, process, reporting and governance, ensuring it continues to support future strategic growth.
Responsibilities include:
- Establish, maintain, and lead the delivery/ embedding of the overall risk strategy and Risk
Management Framework; - Assess and report on the capability and adherence of the framework and provide an overall
risk maturity assessment through the relevant governance committee; - Establish, maintain, and lead on the delivery/ embedding of risk management policies;
- Provide expert and professional advice and guidance to key stakeholders of all levels across
the business on all risk management matters, including risk and control best practice that supports the business in achieving its strategic objectives, whilst operating within risk appetite; - Lead the development and collation of risk reporting for Risk Committee, ExCo as and when
required, to enable effective risk governance; - Monitor, report and oversee the enhancement of the control environment, ensuring that
they are fit for purpose, operating effectively and support the delivery of business
objectives; - Establish, develop, and lead on the delivery of the Risk and Control Self-Assessment (RCSA)
and Risk Maturity Assessment; - Oversee First Line review of effectiveness and adherence to the Risk Management
Framework and risk management process; - Ensure business incidents are raised, recorded, and managed appropriately
- Own and deliver risk management training and awareness programmes as appropriate to
help develop and maintain a risk aware culture; and - Lead on embedding a risk aware culture throughout the business by actively cultivating and
maintaining stakeholder relationships, providing advice on risk management issues, and
demonstrating the benefits. - To undertake projects as and when required, to support the needs of the business or to
achieve departmental objectives.
Critical behaviours required:
Competency | Level |
| Communication | C |
| Technical | D |
| Managing & leading yourself & others | C |
| Developing yourself & others | C |
| Service excellence | C |
| Commercially focused | C |
| Embracing Change | C |
| Teamwork | C |
Personal profile
Qualifications required
Essential:
- Financial Services Qualifications
Desirable:
- Professional Post Graduate Diploma in Governance, Risk and Compliance
Experience required:
Essential
- Extensive and demonstrable experience in a Head of Risk & Compliance role.
Desirable
- Previously held SMF16 role.
Our Expectations:
Our Approach to Risk Management:
You will be responsible for the management of risks within your business area. This will include:
- Ensuring that SBG’s risk strategy and framework is adhered to.
- Appropriate and timely actions should be taken to bring risks within appetite.
- Relevant MI should be in place to support risk-based decisions.
- Provide support to risk co-ordinator(s) to enable them to fulfil their responsibilities.
Three Lines of Defence Risk Management Model:
- You will be required to deliver your role competently and comply with the relevant
standards and procedures, ensuring that SBG deliver a service where suitable advice is given
to the end consumer, which is adequately recorded and ultimately promotes good customer
outcomes. This can either be through direct influence or in a support services capacity
The Consumer Duty Principle:
- You will be required to ensure that the Consumer Duty principle is embedded into the team’s culture, departmental procedures and practices and that management controls and MI are in place to monitor performance against the Consumer Duty principle, where these are required by the business.
Information Security:
- You are required to promote information security in your department, encouraging best practice by ensuring your staff comply with the information security principles, policies and procedures. You will need to monitor workplace practice in line with these policies and procedures and deal firmly with any instances of non-compliance.
SBG’s 6 Star Service Delivery:
- You will need to achieve 6-star service delivery through embedding the 6-star service objectives into to the team culture. You will be required to encourage and exhibit the behaviours that fit within the SBG service charters, leading the team to ensure a clear vision of what 6-star service means for the team, ensuring that service is at the forefront of decision-making processes.
As an SBG People Manager you will be accountable to:
- Set clear personal objectives that are SMART and challenging, review objectives and provide
feedback regularly in one to ones and formally through the Performance Evaluation Process
(appraisal), within the set timescales. - Manage performance across the team to ensure the achievement of service delivery
outcomes. - Manage any sensitive issues in line with SBG Policies and procedures, including attendance
and performance issues. - Coach and develop your team to ensure they perform at a high level, strive for excellence
and maintain appropriate knowledge of the Group’s propositions in line with the SBG values
and competency framework. - Address any training and development needs, ensuring direct reports have a personal
development plan. - Motivate and reward the team to encourage behaviours within the department, which
supports the values of SBG. - Be committed to group corporate citizenship in line with SBG’s CSR policy. Promote and
advocate social interaction and encourage support within own department for nominated
charities and corporate activities within the community.