Member Risk and Oversight Manager
August 2023
Purpose of the Role
To identify and mitigate conduct risks/systems and controls weaknesses within appointed representatives.
To enable customer confidence in their fair treatment by the firms and advisers within the Sesame network.
Oversee the member risk team, producing MI to enable SBG to monitor the quality of this service.
To collate, analyse and assess the risk information relating to activities within the Sesame Network and in particular to assess the propensity of ARs and RIs to consistently achieve good consumer outcomes.
Where risks are identified to lead the analysis of the risks, report on seriousness and scale of risks and work with the business to develop and implement appropriate risk management strategies to ensure Sesame appropriately manages risks arising within the Sesame Network.
This role offers you the opportunity to:
- To identify risk indicative information and key risk indicators regarding the activities within the Network and to ensure that the information used to assess risk remains up-to-date and relevant taking account of changes in the regulatory landscape and business propositions within Sesame.
- To ensure the implementation of self-assessment activity is embedded into business-as-usual activity.
- To ensure the ongoing financial fitness and propriety of network members in line with FCA and network requirements.
- To analyse and interpret risk information/KRIs so as to form an assessment on the extent to which the Sesame network are meeting regulatory requirements having particular regard for analysing the achievement of good consumer outcomes.
- To deliver evidential information on the risk management and investigation activity as and when the regulator or other parties request.
- To collate and prepare the governance risk reports.
Job Description Page 2 of 5 Author and owner: HR/Manager
Classification: Internal - Escalate areas of concern as a result of analysis and assessment at Network level so that risk strategies can be invoked to remove or reduce areas of risk according to Sesame’s risk strategy and appetite.
- Ensure effective root cause analysis and trending analysis takes place to identify emerging and / or real risks and to take appropriate action to reduce / prevent reoccurrence.
- Maintain effective and pro-active relationships with key stakeholders
- Undertake projects (including thematic reviews) as and when required, to support the needs of the business or to achieve departmental objectives.
- To manage and develop key supplier relationships (including outsourced arrangements) in accordance and compliance
Critical behaviours required
Competency | Level |
| Interacting & Engaging | B |
| Technical Competence | B |
| Organising & Executing | B |
| Managing & Developing Self & Others | B |
| Service Delivery Excellence | B |
| Entrepreneurial & Commercial Thinking | B |
| Embracing Change | B |
| Leadership | B |
| Collaborative Working | B |
Personal profile
Qualifications required
Desirable
• Diploma in Financial Planning
• Certificate in Mortgage Advice (CeMap/ CF6), or equivalent
• Supervision in Regulated Environments (JO7), or equivalent
Experience required
Essential
• Experience within a financial services compliance and/or operational risk environment
• Experience of managing and leading change
• Previous people management experience
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.
- You will require an awareness of operational and regulatory risk, which may impact on SBG. You will be responsible for reporting to their line manager any risk which may impact on the business.
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 highlight to your line manager procedures and processes that may impact on SBG’s ability to deliver good outcomes for retail customers and/or may lead to foreseeable harm. Where possible and relevant to your department, put forward suggestions that could positively impact the outcomes achieved by retail customers.
- 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.
- You will need to be aware of all information security principles, policies and procedures and ensure these are followed on a day-to-day basis. You will be required to remain vigilant at all times and report any security concerns, suspicions and/or breaches in a timely manner.
SBG’s 6 Star Service Delivery
- You will need to demonstrate an understanding of what 6-star service delivery means in your role. This will be evidenced through your day-to-day behaviours and performance measured against your team’s 6-star service objectives.
- 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.