Senior Risk Manager

il y a 2 semaines


Luxembourg, Luxembourg Lloyds Banking Group Temps plein
End Date

Friday 03 March 2023

Salary Range

£0 - £0

Agile Working Options

Job Description Summary

Job Description:


Lloyds Banking Group (LBG) is a leading UK based financial services group providing a wide range of banking and financial services, passionate about personal and commercial customers.

The main business activities are retail, commercial and corporate banking, general insurance, and life, pensions and investment provision.


Services are offered through well-recognized brands including Lloyds Bank, Halifax, Bank of Scotland, and Scottish Widows, and a range of distribution channels.

Scottish Widows is a 100% subsidiary of LBG and a strong life and pension company in the UK. Its product range includes life assurance, pensions, investments and savings. The company has been providing financial services to the UK market since 1815.

The company sells products through independent financial advisers, direct to customers and through LBG bank branches. Scottish Widows employs around 3,000 people.


To ensure continuity of servicing of its existing EU business after the UK's exit from the EU, Scottish Widows established Scottish Widows Europe, as a fully-owned subsidiary in Luxembourg, authorized to conduct run-off insurance business in Europe ("SWE").


The portfolio of SWE is largely represented by with profit policies originally sold through the Clerical Medical Brand but also include unit-linked policies.

This results in a book of ca € 2 billion assets, with approximately 75,000 customers.


Since March 2019, the business is handled from Luxembourg, through branches in Germany and Italy and with outsourcers in Germany, Italy & Luxembourg providing customer and policyholder administration.


About the Role (IC&OR Officer):


We have an outstanding opportunity for you to join a diverse and inclusive team in Luxembourg and to work in an international and informal environment.


We welcome diverse views and experience and you'll be expected - with the support of specialists from UK teams - to ensure SWE complies on a continuous basis with all legal, regulatory and mandatory requirements, as well as regulatory expectations.


Your Accountabilities:


The role includes all aspects of the management of Regulatory/Prudential, Conduct and Operational risks for the run-off of the business of SWE, including periodic reviews of recurrent activities and oversight of non-recurrent projects.

You'll

  • Be the overall owner of the risk management function for both conduct (including AML-CTF) and nonfinancial (including operational) risks,
  • Contribute to the development of a risk culture that
- demonstrates our values and awareness of the importance of aligning with our risk appetite framework, policies and statements,
- meets and exceeds our goals for treating customers and all other stakeholders fairly,
- facilitates the delivery of customer, shareholder and colleague objectives,

  • Report into SWE COO (_with a dotted line into SWE CRO to ensure your independence in performing your risk management function and, where necessary, to contribute to the drafting of prudential reports_) and assist them in:
  • Managing and supporting project activities, including risk identification, assessment and management (avoidance / mitigation / transfer / cover) in order to ensure they are delivered on time, within budget and scope and to quality expectations,
  • Implementing and improving SWE's Risk Management Framework ("RMF"),
  • Monitoring overall adherence of SWE to this RMF, corresponding risk management policies / statements and associated requirements,
  • Providing timely and accurate core and dynamic risk reviews / enquiries,
  • Overseeing, monitoring and challenging risk control selfassessments (including Continuous Product Monitoring of Customer Fair Value in the context of the Product Risk Evaluation Process), usetest surveys, etc, both within and outside the Company / Group,
  • Giving SWE and LBG colleagues of the Insurance, Pensions and Investments Business Unit ("IP&I") feedback on risk management performance within SWE operations and outsource providers by sample checking selfassessments, risk events/losses and promoting the timely and accurate reporting of risk data,
  • Analysing the data received on both dynamic and emerging risks that you help identify,
  • Undertaking and leading the preparation and delivery of monthly and quarterly reports to SWE MC and SWE Board to provide them with early warnings on issues and risks identified,
  • Interpreting upcoming regulations and internal Group requirements in order to support the development of appropriate strategies to manage, monitor and control risk,
  • Contribute to monitor and maintain compliance on a continuous basis with (among others)
  • Other operational risk management policies across SWE and subcontractors, ensuring continuous compliance with associated regulations and internal requirements,
  • Where necessary, liaise with and notify the Company's

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