At M&G, the Risk & Controls Analyst role is within the Risk, Assurance and Remediation team of the Life Division. This position supports the Risk Manager in providing assurance and risk oversight for material outsourcers. The role involves applying M&G's Operational Risk Framework, maintaining risk profiles and documentation, assessing and monitoring control environment metrics, participating in assurance reviews and control testing programs, providing feedback to ensure recommendations are implemented, proactive risk management including root cause analysis, monitoring issue remediation, driving a culture of risk and control awareness, and supporting senior analysts and managers in first line risk activities. It also includes conducting quality assurance oversight, identifying risks and trends, maintaining proactive communication with senior management, working collaboratively across teams and suppliers, and keeping up to date with industry trends and regulations.
Key Responsibilities:
- Support the application of the Operational Risk Framework within the Life business area.
- Maintain risk profiles, risk registers, controls descriptions, risk assessments, and related documentation.
- Assess and monitor control environment metrics.
- Participate in assurance reviews and risk-based control testing to provide comprehensive end-to-end assurance.
- Provide feedback on quality assurance oversight and ensure incorporation of recommendations into business as usual.
- Conduct proactive risk management including root cause analysis and design action plans.
- Monitor remediation of issues ensuring systems like MetricStream are updated per operational risk standards.
- Promote a culture of risk and control awareness through communication, guidance, and training.
- Support senior analysts and team managers in first line risk activities and oversight.
- Conduct quality assurance and process adherence reviews for customer processes.
- Identify problem areas, trends, and associated risks.
- Maintain proactive communication with senior management on progress and issues.
- Work collaboratively across teams and suppliers maintaining flexibility.
- Stay informed on industry trends, regulatory, and business issues impacting self-certification.
Key Knowledge, Skills & Experience:
- Experience in risk management, assurance, and supplier oversight in regulated financial services (essential).
- Experience applying quality assurance and quality control methodologies within financial services operations.
- Experience with controls assurance and testing.
- Experience implementing risk, assurance, and oversight methodologies.
- Proactive problem-solving skills with root cause analysis and continuous improvement focus.
- Strong analytical skills and attention to detail.
- Strong communication and influencing skills.
- Working knowledge of life and pensions products, markets, and competitors.
- Preferred knowledge of M&G products, systems, services, and distribution methods.
- Preferred knowledge of BaNCS system.
Workplace location: Hybrid; working from home and Stirling office (2-3 days in office).
