Our Careers

– Department/Branch: Risk

– Reports to: Chief Risk Officer 

– Hybrid working 

Purpose

The Enterprise Risk Manager is responsible for leading the development, embedding and oversight of the Society’s Enterprise Risk Management Framework (ERMF), ensuring risks are identified, assessed, managed, monitored and reported effectively across the organisation. The role provides independent 2nd line oversight and challenge across all principal risk categories, supporting the Society in delivering its strategy safely, sustainably and in line with its mutual purpose, risk appetite and regulatory obligations.

The postholder will play a key role in supporting a strong risk culture and ensuring that the Society maintains robust governance, controls and assurance arrangements PRA and FCA dual regulated environment.

Key Responsibilities:

• Lead, maintain and improve the Society’s ERMF, ensuring it remains proportionate, effective and aligned to the Society’s strategy, business model, risk appetite and regulatory expectations.
• Provide independent 2nd line oversight, advice and challenge to 1st line on the identification, assessment, management, monitoring and reporting of risks across the Society.
• Support the Chief Risk Officer and Executive team in maintaining a clear and current view of the Society’s overall risk profile, emerging risks and material control issues.
• Maintain the Society’s risk framework, ensuring risk appetite statements, key risk indicators and escalation triggers are meaningful, measurable and actively used in decision-making.
• Oversee the production of high-quality risk reporting for the Executive and Board Risk and Compliance Committee (BRCC), including clear analysis of trends, breaches, emerging risks, actions and accountabilities.
• Promote a positive, open and accountable risk culture, supporting colleagues to understand their role in managing risk and encouraging timely escalation of issues and incidents.

Risk Remit:

• Risk Framework: Maintain the components of the Society’s ERMF, including Risk-owned policies and documents, Principal Risks, the Risk Taxonomy and Risk and Control Self-Assessments (RCSAs). Specific focus to include:
• Operational risk: Oversee the operational risk framework, including RCSAs, ICAAP scenario analysis, control testing, deep dives, root cause analysis, and framework linkages to other areas including operational resilience and ESG.
• Partner with Compliance for risk events and compliance-focussed risks such as Financial Crime, Conduct and Consumer Duty.
• Work with CRO on oversight and enhancement of risk management activities for
  • Model risk management framework
  • Regulatory reporting risk
  • Transformation programme
  • Third-party, outsourcing and supplier risk
  • Technology, cyber and data risk
• Prudential risk: Work with CRO to ensure appropriate oversight of capital, liquidity and funding risks and appetite. Provide 2^nd line oversight over ICAAP, ILAAP and Recovery & Resolution Plans.
• Credit risk: Partner with Credit Risk Manager to provide 2nd line oversight of credit risk management across lending activities and credit risk appetite.
• Regulatory compliance risk: Support effective oversight of regulatory change and reporting risks by maintaining a strong understanding of the regulatory environment for a UK building society through the Horizon Scanning process
• Lead and coordinate horizon scanning activity across Risk and Compliance, ensuring forthcoming regulatory, legislative and supervisory developments are identified, assessed and communicated in a timely and practical way
• Strategic, change and emerging risk: Assist CRO to ensure that transformation activity and emerging risks are assessed and challenged through a forward-looking enterprise risk lens.
• Three lines model and risk culture – Support the maintenance of clear accountabilities across the three lines and ensure risk ownership is understood by senior leaders and business areas. Partner with Outcomes Testing Manager to embed risk culture and awareness in 1^st line through risk champions forum. Assist internal audit on their engagements as required

Leadership and stakeholder management

• Build trusted relationships with senior leaders, risk and control owners, and colleagues, providing practical guidance as well as independent challenge.
• Translate regulatory and technical risk requirements into clear, proportionate and business-relevant guidance.
• Champion continuous improvement in risk management capability, reporting, data quality, control effectiveness and risk culture.
• Act as a role model for the Society’s values, demonstrating integrity, sound judgement, accountability and a member-focused approach.

Skills, knowledge and experience

• Significant experience in enterprise risk, operational risk, prudential risk, credit risk or a related risk discipline within a regulated financial services environment.
• Strong understanding of UK retail banking or building society business models, including mortgages, savings, treasury, capital, liquidity and customer conduct considerations.
• Good knowledge of PRA and FCA regulatory expectations for dual-regulated firms, including governance, systems and controls, SM&CR, Consumer Duty and operational resilience.
• Experience of designing, implementing or enhancing risk management frameworks, risk reporting and governance arrangements.
• Practical experience of operational risk management, including RCSAs, incidents, control testing, scenario analysis and issue remediation.
• Some understanding of model risk management principles is preferred.
• Strong analytical skills, with the ability to interpret complex information and present clear, balanced and actionable insight to senior management and Board-level audiences.
• Excellent written and verbal communication skills, including the ability to write concise reports, policies, committee papers and risk opinions.
• Strong influencing and stakeholder management skills, with the confidence to provide constructive challenge and escalate concerns appropriately.
• Relevant professional qualification or evidence of continuing professional development in risk management, financial services, audit, compliance, accountancy or a related discipline would be desirable.

Personal attributes

• Commercially aware, pragmatic and proportionate, while maintaining appropriate independence and professional scepticism.
• Comfortable operating at both strategic and detailed levels, with the ability to prioritise effectively in a changing environment.
• Collaborative and approachable, with the ability to bring colleagues with them while holding firm on important risk matters.
• Curious, forward-looking and confident in identifying emerging risks and challenging assumptions.
• Committed to good customer outcomes, financial resilience, operational resilience and the long-term sustainability of the Society.

Values/Behaviours:

• Protect the culture and standards of the Society by living the values (as detailed in your PDR)
• Maintain a focus on the Society’s responsibility to deliver good outcomes for our members
• Act professionally with colleagues, members, regulators, consultants, suppliers, and other third parties
• Respect people’s differences and foster a supportive and inclusive working environment in line with our Equity, Diversity, and Inclusion aims.
• Adhere to the Society’s health and safety requirements, protecting yourself and others.
• Be a strong leader within the organisation, identifying and demonstrating strong leadership behaviours across the society.

Data:

• Protect the personal data of Society employees, customers, and brokers whether displayed online, or printed on paper, while working from society premises or from home

Conduct Rules:

You must always comply with the FCA’s Conduct Rules by ensuring you:

1. Act with integrity
2. Act with due skill, care and diligence
3. Be open and cooperative with all regulators
4. Pay due regard to customers interests and treat them fairly
5. Observe proper standards of market conduct
6. Act to deliver good outcomes for retail customers