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Risk & Control Officer (RCO) - [Regulatory Operations]
senior · Risk & Compliance
JOB OVERVIEW
The UK Operations Risk & Control Officer (RCO) – Reports directly to the UK head of regulatory operations. This pivotal role will work closely with functional stakeholders, Risk and Compliance to share the first line risk and control agenda, ensuring a robust control environment that supports sustainable business growth within regulatory and risk appetite expectations.
They are accountable for owning and operating first line of defence risk management activities within the function, in line with the UK Risk Management Framework and regulatory expectations. They will support Risk Owners by ensuring that functional risks are identified, assessed, managed, monitored and reported effectively.
The ideal candidate will have relevant first line controls experience and be able to effectively collaborate with key stakeholders to ensure functional resilience and stability in a complex business and regulatory environment.
The position follows a hybrid schedule working at Croydon or Birmingham / (3 days a week in the office )
Key Responsibilities/What you do
- Own and execute risk management within the function, including documenting processes, risks, controls and residual exposures.
- Design, implement and maintain effective 1LoD Operations controls within the business area in line with Group and UK frameworks, with a particular focus on operational, change and compliance risks.
- Perform testing of key control design and effectiveness in line with an approved risk-based plan, as well as supporting RCSA process and control effectiveness attestations.
- Track and oversee remediation, transformation and enhancement actions, including audit or compliance findings.
- Log, investigate and manage operational risks / incidents / near misses, including root‑cause analysis and coordinating the implementation of corrective actions.
- Monitor risk appetite metrics, KRIs and control indicators, identifying breaches, near misses and emerging risks in line with the UK Risk Taxonomy and approved risk appetite
- Produce and deliver clear, timely risk and control MI to functional management and governance forums to ensure actionable insights into control adequacy and emerging risks.
- Represent the function’s risk profile and key issues at relevant governance and working groups, escalating material concerns appropriately.
- Act as a trusted 1LoD risk partner to the business, promoting a strong risk and control culture, driving continuous improvement and engaging effectively with 2LoD and assurance functions.
- Support regulatory initiatives and project on adhoc basis
Key Requirements/What you bring
- At least 5 years’ experience in a similar role
- Relevant degree in Business, Finance, Risk, Accounting or a related discipline, or an equivalent combination of education and professional experience.
- Professional qualification or accreditation in Risk Management, Internal Control, Audit or Accounting (or working towards) is desirable.
- Demonstrable experience in first line risk, operational risk management, internal controls, RCSA delivery, incident management or assurance within a regulated financial services environment.
- Detailed understanding of end-to-end functional products and operational processes within the business area, including key risks and control points.
- Good working knowledge of risk management frameworks, control design and testing methodologies, and UK regulatory expectations relevant to 1LoD.
- Proven ability to operate effectively within a matrix organization, influencing senior stakeholders without direct authority.
- Strong organizational skills with the ability to manage competing priorities, deadlines and stakeholder expectations.
- Analytical capability with experience producing clear, accurate and insightful risk and control MI.
- Strong IT skills and very good user knowledge of Microsoft (inc. Excel, Word, PowerPoint).
- Early adopter of AI and automation tools.
Behavioural Competencies
- Clear ownership mindset with independent judgement and accountability for outcomes.
- Strong attention to detail, judgement and problem‑solving capability.
- Pragmatic and solutions‑focused, with a commercially aware approach to risk management.
- Well‑organised, resilient and able to manage multiple priorities under pressure.
- Confident in raising issues and escalating concerns appropriately.
HOW WE HIRE
We hire directly. Allianz Partners does not accept unsolicited CV’s or approaches from agencies. We only work with partners on our approved supplier list, under contract. Any unsolicited submission will not be considered.
As an equal opportunity employer, Allianz Partners recognizes that our strength lies in our people and we are committed to diversity and inclusivity. So if you would like to be part of a global company that offers international career opportunities, kick-start your career and dare to join us!
For more information, please visit: www.allianzcare.com
102302 || Professional | Non-Executive | Allianz Partners | Full-Time | Permanent
Allianz Group is one of the most trusted insurance and asset management companies in the world. Caring for our employees, their ambitions, dreams and challenges, is what makes us a unique employer. Together we can build an environment where everyone feels empowered and has the confidence to explore, to grow and to shape a better future for our customers and the world around us. We at Allianz believe in a strong inclusive culture that encourages people to speak their minds, get involved and question the status quo. We are proud to be an equal opportunity employer and encourage you to bring your whole self to work, no matter where you are from, what you look like, who you love, or what you believe in. We therefore welcome applications regardless of race, ethnicity or cultural background, age, gender, nationality, religion, social class, disability, sexual orientation, or any other characteristics protected under applicable local laws and regulations.