Head of Operational Risk Oversight

Phoenix Group; City Of London; Hybrid; GBP 119,000 - 140,000; Full time

Job summary

A leading financial services provider is seeking a skilled leader to manage operational risk oversight. This role involves overseeing compliance, financial processes, and stakeholder engagement within a dynamic environment. Essential qualifications include substantial leadership experience and a deep understanding of financial reporting. The position offers flexibility for remote work and the opportunity to positively impact the organization's risk management culture.

Benefits

Private medical cover

38 days annual leave

Excellent pension

Income protection

Qualifications

• Significant leadership experience within operational risk, finance controls oversight, or assurance functions.
• Strong technical knowledge of ICFR/SOX controls and financial reporting processes.
• Ability to influence senior executives and Board members.

Responsibilities

• Lead a team of risk professionals providing independent oversight of operational risk exposures.
• Deliver clear, concise risk reporting and insight for executive leadership.
• Build trusted relationships with senior leaders and collaborate with specialists.

Skills

Leadership experience in operational risk

Technical knowledge of financial reporting processes

Stakeholder management skills

Understanding of regulatory frameworks

Education

ACA, ACCA, CIMA, CIA or equivalent

Job description

Job Type

Permanent

Location

This role could be based in either our London, Birmingham, Telford or Edinburgh offices with time spent working in the office and at home.

Flexible working

All of our roles are open to part-time, job-share and other types of flexibility. We will discuss what is important to you and balancing this with business requirements during the recruitment process. You can read more about Phoenix Flex here.

Closing Date

11.11.25

Salary and benefits

Up to £140,000 dependant upon experience, plus bonus potential, private medical cover, 38 days annual leave, excellent pension, 12x salary life assurance, career breaks, income protection, 3x volunteering days and much more.

Who are we

We want to be the best place that any of our 6,600 colleagues have ever worked.

We’re Phoenix Group, we’re a long‑term savings and retirement business. We offer a range of products across our market‑leading brands, Standard Life, SunLife, Phoenix Life and ReAssure. Around 1 in 5 people in the UK has a pension with us. We’re a FTSE 100 organisation that is tackling key issues such as transitioning our portfolio to net zero by 2050, and we’re not done yet.

The Role

Reporting to the Director of Non‑Financial Risk, you will lead a team of risk professionals providing independent second‑line oversight of operational risk exposures for the Pensions & Savings business and Finance division.

Your responsibilities will include:

• Oversight of financial reporting controls and related financial processes, ensuring a strong and compliant control environment.
• Broader operational risk oversight across Pensions & Savings, and Finance operations.
• Providing expert input and feedback on framework enhancements and new risk management tools.

You will work closely with specialist NFR teams (e.g. cyber, technology, third‑party) to provide an integrated view of risk and deliver proportionate oversight to the 1st Line of Defence.

Key Responsibilities

Operational Risk Oversight

• Oversee and challenge the application of Phoenix’s operational risk framework across Pensions & Savings and Finance.
• Provide independent challenge to 1st Line risk management, ensuring material risks are identified, mitigated, and reported.
• Deliver clear, concise risk reporting and insight for the Executive Committee, CFO, and Board Risk Committee.
• Champion adoption of improved risk management processes across your areas of responsibility.

Finance

• Provide independent oversight of the Finance division, including CFO‑led activities such as financial reporting, actuarial valuations, and treasury operations.
• Ensure the design and operation of internal controls over financial reporting meet regulatory and internal standards.
• Support Finance leadership in identifying, escalating, and remediating control weaknesses.
• Partner with Internal Audit, Finance, and external auditors on the annual attestation process and external reporting obligations.

Stakeholder Engagement

• Build trusted relationships with senior leaders, including the CFO and Pensions & Savings leadership team.
• Collaborate with specialist NFR teams to integrate insights across cyber, technology, third‑party, regulatory, and change risk areas.
• Represent Phoenix with regulators, external auditors, and other external stakeholders where appropriate.

Leadership & Team Development

• Lead, develop, and inspire a team of operational risk professionals.
• Build a collaborative, high‑performance culture focused on continuous improvement.
• Ensure the team has the right skills and succession planning for the future.

What We’re Looking For

Essential Experience

• Significant leadership experience within operational risk, finance controls oversight, or assurance functions in life insurance, pensions, or wider financial services.
• Strong technical knowledge of ICFR/SOX controls and financial reporting processes, including actuarial and treasury operations.
• Experience working effectively within a Three Lines of Defence model, providing independent oversight and challenge.
• Strong stakeholder management skills, with the ability to influence senior executives and Board members.
• Deep understanding of regulatory frameworks such as PRA, FCA, Solvency II, and UK Corporate Governance Code.
• Proven ability to lead, motivate, and develop a high‑performing team.

Desirable

• Professional qualifications such as ACA, ACCA, CIMA, CIA, or equivalent.
• Exposure to complex integration or change programmes in a regulated environment.

We want to hire the whole version of you.

We are committed to ensuring that everyone feels accepted and welcome applicants from all backgrounds. If your experience looks different from what we’ve advertised and you believe that you can bring value to the role, we’d love to hear from you.

If you require any adjustments to the recruitment process, please let us know so we can help you to be at your best.

Please note that we reserve the right to remove adverts earlier than the advertised closing date. We encourage you to apply at the earliest opportunity.

Find out more about #LifeAtPhoenix

• Guide for Candidates: thephoenixgroup.pagetiger.com/guideforcandidates
• Find or get answers from our colleagues: www.thephoenixgroup.com/careers/talk-to-us

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