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Risk and Compliance Manager

When it comes to securing a financially-stable future for your retirement, you rely on your pension. The pension is an important factor for many people when they plan for what lies beyond the conclusion of their working life, and we strive to give Civil Servants and Royal Mail employees the best experience possible.

We are looking to appoint a Risk and Compliance Manager to help us achieve the realisation of our vision for the Civil Service & Royal Mail Statutory Pension Schemes to be the best-administered UK public sector pension schemes throughout the 2020s. Achieving our vision will be a complex and protracted process and we need an experienced Risk and Compliance Manager who can anticipate issues and plan effectively, maintaining progress through a strong personal performance.

The overall objective of the Risk and Compliance Manager role is to develop and implement a risk management framework across the Civil Service & Royal Mail Pensions Directorate which ensures our risk profile is defined, understood and managed effectively across all areas of the business and within the agreed risk appetite. The post holder will build strong relationships with other Cabinet Office teams and other major Public Sector pension schemes in order to be seen as the Risk and Compliance expert for CSPS and RMSPS pensions. There is also the compliance monitoring needed with our 3rd party providers which includes direct liaison and management of services provided by Government Internal Audit Agency.

The impact of the role is far reaching and significant. Better management of compliance and risks on the quality of scheme data across 500,000 members will lead to improved accuracy in pension benefits and scheme valuation with reduced costs for both the scheme administrator and employers. The Risk and Compliance manager role will be critical to the design and development of suitable risk and compliance framework that will increase the standard by which we are managing the risks associated with delivering £6 billion of tax payer’s money each year.

This role provides a fantastic opportunity to work at the centre of Government on something high profile and meaningful. Whilst this role will be stretching, this is a great way for a skilled Risk and Compliance manager to build an enjoyable career within the Civil Service.

What are my responsibilities?

The Risk and Compliance Manager will be personally responsible for developing, embedding and managing a risk management culture across the Civil Service Pension Scheme (CSPS) and Royal Mail Statutory Pension Scheme (RMSPS). This includes:

1. Developing and implementing a risk management framework that:

• Builds on and implements, as appropriate, recommendations from the Government Internal Audit Agency (GIAA) on best practice in risk management.
• Demonstrably assists in delivering our aim for the CSPS and the RMSPS to be the best-administered UK public service pension schemes throughout the 2020s.
• Develops risk reporting in an innovative way so that it is user-friendly and focussed.
• Ensures both schemes have in place risk management activities that meet regulatory and industry standards and help achieve the Directorate’s business objectives.
• Provides risk management education to the team.
• Provides assurance to senior management and the Cabinet Office Audit and Risk Committee (COARC), the Civil Service Pensions Board and the RMSPS Governance Group about the standards of risk management throughout the schemes.
• Represents pensions teams at the CSPB / Governance Boards to bring risk/compliance knowledge and awareness to the attendees.
• Ensures that the framework aligns with wider Civil Service/Cabinet Office and being pro-active throughout, building links and sharing best practice both with other parts of the Cabinet Office and with other major UK Public Sector pension schemes.

2. Leading the Directorate’s relationship with GIAA to:

• Develop an annual internal audit plan that gains COARC agreement, is proportionate and is deliverable.
• Ensure the plan is delivered to time, with any issues resolved as and when they arise.
• Ensure that the Directorate completes audit actions to time and to standard.
• Ensure that the Directorate addresses and mitigates any common themes coming out of the Audit programme.
• Liaise and pro-actively support the Scheme administrator’s head of R&C, working together to achieve required aims and meet the Pensions Regulator (tPR)’s requirements.
• Ensure external risk is identified, captured and actioned.

3. Leading the Directorate’s activities with the Pensions Regulator (tPR – the industry regulator) by:

• Maintaining a transparent and constructive relationship.
• Ensuring that the Directorate meets its obligations under tPR’s Code of Practice.
• Operating an effective Breach Disclosure process.
• Attending and being involved in Cabinet Office Performance and Risk Committee deputising for the Director / Deputy Directors.
• Being involved in appropriate case study scenarios with tPR.
• Training the team on the tPR compliance requirements.

4. Leading on all other compliance issues, ensuring that the schemes:

• On an ongoing basis, review, analyse and enhance all risk management processes, to include effective risk capture, risk measurement, risk management and risk reporting.
• Meet their responsibilities under Social Security and other legislation.
• Design and implement effective risk governance processes to ensure that risk management framework is operating as intended, including comprehensive risk reporting, to provide robust assurance to the Civil Service Pensions Board.
• Have constructive relationships with their respective governing boards (CSPB and RMSPS Governance Group) on all matters to do with risk and compliance through providing briefing, papers etc. and attending board/group meetings as needed.
• Establish a framework to show compliance by pensions teams.
• Provide relevant training to employers on risk/compliance and their role and responsibilities.
• Compliance management of 3rd Party providers, ensuring liaison with Government Internal Audit (GIAA) on a regular basis.

Person Specification

What are we looking for?

• An expert in driving action through the principle of continuous improvement and development, through a complex technical and diverse organisation.
• An expert at effectively managing relationships with and influencing senior stakeholders, producing clear advice on complex risks and issues.
• An expert focused on delivery of outcomes, who can work under pressure, respond quickly and decisively to changing circumstances and to a tight timetable.
• Excellent interpersonal skills as well as written and verbal communication skills to all levels of management with a proven record of building and maintaining strong, collaborative and productive relationships across functional and organisational boundaries.
• The ability to rapidly acquire a good understanding of the general laws that apply to Civil Service and Royal Mail Statutory Pension Schemes.
• Proven ability to identify pragmatic solutions to risks and issues identified.

Candidates should also be able to demonstrate the following previous experience:

• Knowledge and experience of risk management on major and complex projects and experience of working in an agile environment.
• Analysing and resolving complex risk challenges in a commercial environment in a structured manner.
• Providing (including through coaching and development of the team) a responsive risk management service that will meet the needs of the business.
• Designing and implementing methodologies to achieve a change of Risk Culture across the Directorate.
• Identifying and defining risks and mitigations in the design and implementation of change and projects.
• Creating and implementing effective controls and frameworks to enable a culture of continuous improvements and developments, focused on achievements of value for money outcomes.
• Preparing and presenting reports to stakeholders.
• Some experience and technical knowledge of the criminal justice system and investigation work.
• A significant level of leadership and management experience to manage change initiatives through 3rd party suppliers to achieve significant performance improvements efficiently and on a cost-effective basis.
• Demonstrable previous experience in the efficient risks and compliance management.
• Producing customer requirements, and developing suitable solutions reinforcing a culture of excellent customer service and managing high demand for the team’s services.

Finally, you will have a genuine interest in working for Government, and excited about developing a career with the Cabinet Office.