Head Of Operational Risk, Change & Supplier Oversight

LGPS Central; Wolverhampton; Hybrid; GBP 110,000 - 150,000; Full time

Benefits offered by this job

Hybrid working

Job summary

LGPS Central is seeking a Head of Operational Risk, Change & Supplier Oversight to lead the transformation of Investment Operations within a multi-asset asset management environment. The role sits in a Change the Bank mandate, embedding a scalable operating model and strong risk and control disciplines while partnering with Technology, Data, Risk and Client teams.

Responsibilities include designing and embedding risk controls, overseeing enterprise risk framing, and driving end-to-end service

Qualifications

• Proven experience in asset management or institutional investing at senior leadership level.
• Experience leading large-scale operational transformation in complex organisations.
• Deep experience with multi-asset operations, operational risk frameworks, and third-party servicing.

Responsibilities

• Design and own first line operational risk and controls within the Enterprise Risk Framework.
• Identify risks and assign risk owners across the three lines of defence.
• Lead operational resilience measures and strategies.
• Oversee investment operations transformation aligned to business priorities.
• Manage the change portfolio and supplier oversight, including Operational Due Diligence.

Skills

Asset management

Senior leadership

Operational transformation

Multi-asset operations

Operational risk frameworks

Asset servicing

Education

Degree in relevant discipline

FCA approved person

Job description

Join us at a pivotal moment, where investment operations expertise, data integrity, and process excellence come together to underpin effective LGPS pooling and deliver strong outcomes.

The Head of Operational Risk, Change & Supplier Oversight is a senior leadership role responsible for leading the transformation of Investment Operations within a complex, multi-asset asset management environment.

Operating within a "Change the Bank" mandate, the role is accountable for designing and embedding a scalable, resilient, and future-ready operating model. It brings together leadership across operational risk and control, transformation delivery, supplier and asset servicing oversight, and Operational Due Diligence (ODD).

The role represents Investment Operations across key enterprise programmes, including the development of new FMA services, and plays a critical role in delivering Enhanced Status readiness. It requires strong leadership in navigating ambiguity, shaping evolving operating models, and driving change at pace.

Working in close partnership with Investment, Technology, Data, Risk, and Client teams, the role ensures delivery of a high-performing, technology-enabled operational platform that supports complex asset classes and business growth.

This is a certified role under the Senior Manager's Certification Regime and is subject to regulatory fitness and propriety requirements.

What you'll be doing:

• Design, maintain and own the first line operational risk and control elements of the Enterprise Risk framework, aligned to the three lines of defence, ensuring audit and regulatory requirements are met
• Working closely with the Head of Enterprise risk and operational teams, identify the appropriate operational risks for inclusion within the relevant parts of the Enterprise Risk Framework
• Work with the operational teams to identify and assign risk owners, design and structure appropriate controls, ensure risks are assessed appropriately and ongoing monitoring and management are fully embedded
• Design and oversee the production of operational KRIs, review and oversee operational incident management, and governance reporting
• Lead on the design and oversight of operational resilience measures and strategies
• Define and deliver the Investment Operations transformation strategy and plan. aligned to business priorities
• Lead target operating model design, process optimisation, and adoption within Operations of automation, AI, and data capabilities (working closely with the Head of Operational Service Delivery and Technology and Data teams)
• Manage the operational change portfolio to drive efficiency, control improvements, and service quality
• Manage operational change team resources to deliver and embed change successfully
• Represent Operations in firm-wide change programmes and support delivery of new service models
• Contribute to Enhanced Status readiness across operational maturity, risk, and service delivery
• Translate strategic requirements into practical operational solutions and manage interdependencies
• Owner and lead for the Global custody, asset servicing and other significant operational service provider relationships, applying the strategic partnership model and governance framework to achieve strong oversight, monitoring and value
• Design and run the appropriate governance structure for each major relationship and engage internal, Exec and non Exec stakeholders as appropriate in running the services
• As part of the governance, lead service performance monitoring, governance forums, and issue resolution, managing internal coordination across stakeholders of the services
• Provide the main functional point of contact for clients in relation to their Custodian and Asset Servicing suppliers to assist them in ensuring a robust and joined up end to end model
• Drive commercial value, scalability, and alignment of suppliers to the future operating model
• Own and enhance the risk-based ODD framework across external managers and key providers
• Oversee onboarding, ongoing monitoring, and event-driven reviews using internal and external expertise
• Deliver clear reporting and ensure alignment with operational risk and supplier oversight

Operating Model & Capability Development

• Design and evolve a future-fit Investment Operations operating model
• Work with the Head of Operational Service Delivery to build and develop a high-performing team with strong capabilities in risk, change, and supplier oversight
• Embed data-driven, automated, and AI-enabled ways of working and develop the team capabilities to be self sustaining in continuously evolving processes for greater efficiency and quality

Operating Effectively in Ambiguity

• Provide clarity and leadership in a fast-changing and evolving environment
• Balance delivery pace with strong risk and control discipline
• Support senior stakeholders in navigating complex decisions and trade-offs

About us

LGPS Central (LGPSC) Ltd is the FCA regulated asset manager for fourteen local authority pension funds across the Midlands. LGPSC is jointly owned on an equal shares basis by those Partner Fund, and it is responsible for managing £100bn+ of their assets. It is one of six Local Government Pension Scheme (LGPS) asset pools in the UK.

LGPS Central's Partner Funds are:

• Suffolk County Council

The Company is committed to responsible investment and has made responsible investment a core part of the investment process in every asset class.

LGPS Central offers a friendly and diverse, hybrid working environment with a range of employee benefits. The Company moved to new premises at i9, Wolverhampton Interchange in January 2022, close to local transport links.

Our objective is to be a leading investment management company working with and for our Partner Funds. With a focus on value for money and performance we want to aspire to be one of the best because this is how we will deliver the superior investment returns and low costs for our Partner Funds

Requirements

Experience

• Proven experience in asset management, institutional investment, or wealth environments, with a proven track record at senior leadership level
• Demonstrated success leading large-scale operational transformation in complex, evolving organisations
• Deep experience across multi-asset operations, operational risk frameworks, and third-party/asset servicing models

Technical & Functional Expertise

• Strong expertise in operational risk and control frameworks, supplier governance, and investment operations
• Proven experience designing and implementing target operating models and delivering data- and technology-enabled transformation
• Experience in Operational Due Diligence (ODD) across external managers, with a solid understanding of the regulatory landscape

Leadership & Behavioural Capabilities

• Strategic leader able to translate vision into execution in fast-paced, ambiguous environments
• Strong stakeholder management skills, with the ability to influence at senior levels and drive cross-functional alignment
• Resilient and adaptable, with clear communication, accountability, and a focus on delivery

Qualifications:

• Degree or equivalent in a relevant discipline
• Has or can meet all the requirements of being an FCA approved person

What do we offer?

We are proud to provide our people with a premium and exclusive benefits package and we are continually improving the rewards we offer. Here are a few of the valuable rewards that you will enjoy:

• An enhanced and generous Pension Scheme
• An extra paid Company Day in addition to paid holidays
• Welfare and Family friendly policies
• Enhanced pay for new parents
• Access to our Employee Assistance Programme 247 Health & Wellbeing Support
• Vitality Private Medical Insurance
• Hybrid Working
• Company Service Awards
• Cycle to Work Scheme
• Company Electric Vehicle Scheme
• Winner of the Cultural Awareness Initiative of the Year FT Advisors Diversity in Finance Awards 2023
• Winner of Diversity and Inclusion Award LAPF In Investments Award 2023
• Winner of LAPF Investment Innovation
• Winner of Pool of the Year 2025