Head of Risk - Open Division

Phoenix Group
Edinburgh / Birmingham / London
Competitive Salary + Bonus + Benefits
22 Oct 2020
06 Nov 2020
Contract Type
Full Time

Competitive Salary + on target bonus 30% & Excellent Flexible Benefits Package

Flexible Location - Edinburgh / Birmingham / London



Helping our customers make the right financial choices as they plan for a better future means that we need to attract, retain and motivate the very best people in the market. We know great people have even greater choices when it comes to their career. At Phoenix Group we can offer you a career opportunity second to none with a successful, innovative and growing long-term savings and retirement business.  Our people are our most important asset.



This is a newly created role that reports into our Operations and Governance Director. We have built a series of autonomous but collaborative business units that are bursting with energy and ideas, and ready to help our customers journey to and through retirement.

As the Head of Risk-Open Division, you will lead Line 1 risk across all five of our Open business units, which are: Workplace, Annuities and Equity Release, Customer Savings and Investments, Europe and SunLife.

Our Group Risk's Mission is to promote informed decision making and controlled risk-taking that improves customer outcomes and delivers long term value for shareholders. 

You’ll support the implementation of the Group’s Risk Management Framework across the Open Division and report on key risks and the effectiveness of risk management and compliance. You’ll be responsible for promoting the effectiveness of the management of risk externally.



  • Drive the implementation of an effective Risk Management Framework
  • Identify, measure, monitor, manage and report on the risks to which the Open Division and its customers are exposed, taking into account individual and aggregate exposures and dependencies between the risks.
  • Working with respective Line 1 Risk Leads to ensure that the business is appropriately organised, responsibilities are clear and the team has the required resources and skillsets.
  • Support risk reporting to the Open Division Executive Committee and management committees.
  • Supporting the Life Co entities on the key risks to the Open Division, the effectiveness of the Risk Management Framework, risk exposures against appetite, and the appropriateness of actions taken to manage risk exposures and breaches of appetite.
  • Support the development of the 1st Line risk team in the Open Division.
  • Promote effective challenge and ensure that independent risk opinions are provided to the Open Division Executive Committee or appropriate decision-making body.
  • Raise the implications of all proposals that could materially change the risk exposure of the Open Division and Group either now or in the future, including M&A, annual operating plans, management actions, change projects, new customer propositions and changes to existing propositions.
  • Influence key stakeholders to drive positive risk outcomes and gain buy-in on risk management initiatives.
  • Promote and communicate good risk management practice internally and also to external stakeholders.
  • Promote strong risk culture across the Open Division in which the Risk Management Framework is valued and embedded in all activities.
  • Ensure the identification and management of risks to customers is central to decision making, challenge is welcomed, individuals take responsibility for the implications of their actions, decisions appropriately assess and balance risk and reward, and key judgements and assumptions are transparent.




  • Experience of working at a senior level in a Risk role (either 1st or 2nd Line) within a financial services organisation.
  • In-depth knowledge of the UK financial services and regulatory framework.
  • Ability to understand/interpret the regulatory requirements to new or ongoing business situations. This involves knowledge of the relevant legislation and regulations, and navigation of the same.
  • The ability to communicate compliance issues in a non-technical way to the senior teams and other employees.
  • Ability to motivate, direct and develop staff at different levels, to work individually as well as in a team environment.
  • Sound judgement and ability to know when to escalate and when to seek internal or external assistance.
  • Strong management, leadership, team-building skills
  • Effective communication and report writing skills.



Bring your ‘whole self’, skills and dedication to the Phoenix Group and we’ll recognise your effort, support your development and help to drive your ambition. We’ll ensure you’re rewarded for your contribution with a competitive package, that includes an attractive pension, annual bonus potential, private medical insurance, generous holiday entitlement and a range of other financial services and lifestyle flexible benefits.


To apply online simply visit our careers site via the 'Apply' button.

Closing date: Friday 6th November 2020.

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