Operational Risk Analyst – Retail Risk recruitment

MG Investments is Prudential plc's UK based fund management business and is one of Europe's leading active asset managers with over £194 billion* of funds under management across fixed income, equity, property and multi-asset strategies.

Retail is a distribution arm of MG with over 320 staff and compromises of Product Development, Global Sales, Operations, Change Management, Financial Crime, Marketing and Corporate Communications amongst many other areas.

-*as at 30 September 2011

Opportunity

The MG Retail Operational Risk team works with the Retail Business in identifying of operational risk and therefore helping to reduce risk exposure.

This is achieved by developing and maintaining processes to comply with a robust framework to identify the significant risks faced by Retail and the wider MG business, establishing formal systems and controls to manage the risks, maintaining a process for monitoring the operation of these systems and controls, tracking the completion of any actions identified to address control weaknesses and regularly re-evaluating the risks and controls in the context of MG's risk tolerance and to comply with relevant operational risk legislation.

As part of the Retail Risk team, the Operational Risk Analyst will work closely with the existing team, supporting the Senior Risk Analyst, the business units within Retail and other departments within MG to:
- ensure consistent interpretation and implementation of the MG Operational Risk Framework;
- promote and develop risk management tools such as process mapping and control documentation;
- increase risk awareness across Retail;
- work with the business to identify and mitigate the risks within their processes; and
- report the issues to senior management promptly and in a succinct manner
- Implement and maintain KRIs and Risk Appetite monitoring across Retail.

Key responsibilities

- Build constructive and supportive working relationships with management and staff across the business

- To work with the team in identifying risks, processes and controls that occur within Retail and also within processes that impact Retail

- Have responsibility for set units within Retail in terms of process mapping, control documentation, challenge and review of risk reporting with relationship ownership

- Implement and maintain a new KRI process for Retail Risk for reporting to the Retail Risk Committee, legal entity boards and Central Risk

- Work with Retail and Central Risk to develop a Risk Appetite monitoring process for reporting to the Retail Risk Committee, legal entity boards and Central Risk

- To carry out Operational incident reviews, both internal and external in accordance with the Risk Framework, maintain the incident log and identify trends where possible.

- To follow up on agreed actions and recommendations from Operational Incidents

- Contribute to the team information log with industry, business and Retail events, articles and opinions that could be used to help manage and challenge risk reporting and Senior Management

- Support the development, communication and embedding of the MG Group Risk Framework, policy and guidance to ensure this meets the needs of Retail and Central Risk

- Liaise with other areas within MG to assist in developing a co-ordinated approach to both the application of the operational risk discipline and resolution of operational risk issues

- Participate in the maintenance of the Risk System, OpenPages to support the MG Risk Framework and reporting requirements

- To act as deputy for the Senior Analyst at key meetings

What we are looking for

Essential
- Pragmatic in both analytical thinking and problem solving
- Strong innovative approach to achieving results
- Strong drive for curiosity and learning
- Proactive and good at working with others
- Strong written and verbal communications skills
- Strong planning and organising skills
- Strong influencing skills and the ability to build effective relationships
- Someone who has an active and genuine interest in their work
- Strong skill in identification of trends in complex, disparate data and see the big picture

Desirable
- We are willing to look at individuals who may not have worked within asset management but are ideally from an Operational Risk or Compliance background.
- Proven experience within Operational Risk environment
- Relevant professional qualification (e.g. ACA, CIMA, ACCA, IIA)
- Experience of working in the Financial Services industry
- Appreciation of management, client, shareholder and regulator perspectives on risk
- Appreciation of corporate governance and the changing regulatory environment
- Understanding of end to end business processes and experience of process mapping

MG is an equal opportunities employer and welcomes applications from a diverse background.