Head of Wealth Management Operational Risk
Schroders · London
Who we’re looking for
We are looking for an experienced operational risk professional to lead the Wealth Management Operational Risk team within Schroders’ Non-Financial Risk function.
You will have strong technical operational risk skills and relevant Wealth Management experience, together with the ability to communicate with and influence technical and non-technical senior management. You will also be experienced in managing and developing a high-performing team, while balancing strategic oversight with direct involvement in day-to-day activities.
The role reports to the Group Head of Operational Risk and sits within the second line of defence. You will lead a team of two Wealth Management Operational Risk Managers and provide oversight and challenge of operational risk management across Wealth Management, working closely with first-line business teams and the wider Group Operational Risk function.
The Non-Financial Risk function comprises several key teams, including Operational Risk, Operational Risk Advisory, Cyber & Technology Risk, and Operational Resilience.
About Us
Schroders is a global investment manager which provides active asset management, wealth management and investment solutions. We aim to provide excellent investment performance to clients through active management. We serve a diverse client base that includes pension schemes, insurance companies, sovereign wealth funds, endowments, foundations, high net worth individuals, family offices, as well as end clients through partnerships with distributors, financial advisers, and online platforms.
Established in 1804, we have around 5,500 people across 36 global locations. Schroders' success can be attributed to its diversified business model, spanning different asset classes, client types and geographies.
The base
We moved into our new HQ in the City of London in 2018. We’re close to our clients, in the heart of the UK’s financial centre and we have everything we need to work flexibly.
What you'll do
Leadership and stakeholder management
Line manage two Wealth Management Operational Risk Managers.
Support the Head of Wealth Management Risk in delivering key Wealth Management risk initiatives.
Embed a strong risk management culture throughout Wealth Management by actively cultivating and maintaining relationships with senior stakeholders and business teams.
Provide proactive advice and support to senior Wealth Management stakeholders on operational risk management matters.
Identify new and emerging operational risks, including risks relating to AI, and ensure that senior stakeholders are aware of these risks and have initiated appropriate mitigating actions.
Present key operational risk issues, trends and emerging risks to senior stakeholders and governance committees.
Work closely with the Wealth Management Head of Risk to support the delivery of their responsibilities.
Business-as-usual operational risk, reporting and governance
Both directly and through the management of the team, you will:
Oversee the Wealth Management risk and control assessment programme, including review and challenge across business risk and control assessments, new client assessments and change assessments.
Work with the Operational Risk Advisory team to support the delivery of Wealth Management ICAAPs and ICARAs, including the development of operational risk scenarios and the estimation of Group and entity-level operational risk capital requirements.
Oversee the Wealth Management risk event process, including the review and challenge of risk event investigations and mitigating actions.
Ensure the prompt, accurate and appropriate escalation of Wealth Management Significant Risk Events once they have been escalated to Wealth Management Operational Risk.
Oversee the root-cause analysis and investigation of significant risk events, ensuring robust conclusions are reached and wider lessons learned are identified.
Oversee the effective identification, escalation, management and reporting of self-identified issues by the business.
Provide management information to key committees, including the Group Risk Committee, the Wealth Management Audit and Risk Committee, and entity boards.
Provide operational risk leadership and input into relevant Wealth Management projects and initiatives through proactive engagement with steering committees, governance forums and working groups.
Support the Head of Wealth Management Risk in developing Wealth Management Risk Appetite Statements for applicable entities, in relation to operational key risks.
Ensure that material issues, risk events and operational risks outside of appetite are escalated promptly to the Head of Wealth Management Risk, the Wealth Management CEO and/or the Group Chief Risk Officer, as appropriate.
Oversee the delivery of applicable Wealth Management Internal Controls Reports, working closely with external audit and first-line business functions.
Provide training to first-line business functions to ensure that the requirements of the relevant policies are understood and implemented.
Ensure that oversight and challenge are delivered consistently and in coordination with the Group Operational Risk team.
Undertake specialist operational risk activities relating to significant Wealth Management change, regulatory initiatives and emerging risks.
The knowledge, experience and qualifications you need
Educated to degree level.
Significant experience in Wealth Management and operational risk management.
Strong knowledge of operational risk frameworks, policies and risk appetite.
Experience of emerging risk oversight, including risks relating to AI.
Good understanding of regulatory requirements relating to operational risk.
Experience of risk and control assessment methodologies, including review and challenge across business areas, new products, end-to-end processes, new clients and business change.
Experience overseeing risk event processes, investigations and escalations.
Experience producing operational risk management information, committee reporting and materials for senior governance forums.
Knowledge of scenario analysis and operational risk capital requirements for ICAAP and ICARA.
Strong project management and leadership skills.
Excellent interpersonal, influencing and stakeholder management skills.
Strong written communication skills, with the ability to write and review accurate, clear risk reports for different audiences.
Good organisational and time management skills.
Strong analytical, logical and problem-solving abilities.
The ability to manage sensitive issues appropriately.
The ability to manage and develop a high-performing team.
The knowledge, experience and qualifications that’ll help
Experience in assurance or audit.
Experience using operational risk systems.
Excellent working knowledge of Microsoft PowerPoint, Word, Excel and Power BI.
Experience working with external audit and first-line business functions on internal controls reporting.
Experience presenting to senior management and governance committees.
A collaborative and team-oriented approach, with the ability to work effectively across the organisation.
Clear judgement and strong attention to detail.
We Recognise Potential, Whoever You Are
Our purpose is to deliver excellent investment performance to clients through active management. We believe diverse perspectives and an inclusive culture help us make better decisions and achieve better outcomes for our clients. That's why inclusion is a strategic priority for us, and we are an equal opportunities employer. You are welcome here, regardless of your age, disability, gender identity, religious beliefs, sexual orientation, socio-economic background, or any other protected characteristic.
We will consider flexible working arrangements for all roles and provide reasonable accommodations to support applicants and employees, including those with neurodiversity, disability, or physical and mental health needs. For more information, please visit our FAQs.