Operational Risk Manager

**About The**R**ole**

The role purpose of the Operational Risk Manager, Third Party Recoveries and Settlements, is to identify, assess and mitigate operational risks inherent in the processes and activities related to Recoveries and Settlements. The primary purpose of this role is to ensure that operational risks are effectively managed to ensure business processes and legal and regulatory obligations are adhered to.

The Operational Risk Manager will work closely with the Recoveries and Settlements leadership team and various stakeholders, to develop control measures, implement risk management strategies and continuously monitor operations to proactively address any emerging risks.

**Position Accountabilities**
- **Risk Identification**:Identify potential operational risks associated with Recoveries & Settlements operations including supplier performance that could impact the insurance company’s operations, reputation, or regulatory compliance. Risk will reside with processes, procedures and systems.
- **Risk Assessment, Mitigation, and Management**:Evaluate the likelihood and impact of identified risks on the department's objectives and organisation. Develop and implement effective risk mitigation strategies and controls in conjunction with the Recoveries and Settlements leadership team to reduce the probability and impact of operational risks. Manage responses to Group Risk as required.
- **Compliance Oversight**:Monitor adherence to regulatory requirements, industry standards and internal policies to ensure compliance at all levels including suppliers. Coordinate remediation activities to ensure clear plans are defined, timely completion and stakeholder update.
- **Monitoring, Reporting and Analysis**:Continuously monitoring risk trends and compliance with risk management policies and operational procedures. Prepare regular reports for management of both compliance and risk actions including any remediation actions taken to senior management for review and decision making. Analyse exception reports to identify trends or patterns indicative of underlying risks. Collaborate with relevant stakeholders to implement corrective actions and prevent future occurrences.
- **Incident Management**:Managing and investigating operational risk incidents, identifying root causes, and implementing corrective actions to prevent recurrence.
- **Regulatory Compliance**:Supporting the business to ensuring compliance with relevant laws, regulations, and internal policies related to operational risk management in the Recoveries and Settlement department.
- **Supplier Performance Evaluation**:Evaluate supplier performance against key performance indicators (KPIs) and service level agreements (SLAs) to ensure quality, efficiency, and effectiveness.
- **Supplier Relationship and Contract Management**:develop and maintain relationships with insurance suppliers to ensure compliance with contractual obligations and performance expectations. Facilitate the negotiation, review and renewal of supplier contracts to ensure alignment with compliance requirements and business objectives.
- **Training and Awareness**: Drive improved execution and operational risk management and control measures across Recoveries & Settlements. Oversee the training content and guidance to support technical uplift. In addition, be accountable for the coaching and mentoring of your own team.

**What experience you’ll bring;**
- Relevant qualifications in Business, Commerce, or a similar discipline, preferably within Financial Services
- Proven experience in risk management, remediation, or compliance roles, preferably in a regulated industry.
- Strong understanding of regulatory requirements and frameworks related to risk management and remediation
- Excellent analytical, problem solving and decision making skills
- Exceptional communication (both verbal and written) and interpersonal skills, with the ability to liaise effectively with various stakeholders
- Demonstrated ability to effectively engage, influence and develop others
- High level project management experience i.e. an ability to deliver results to agreed timeframes.

**Our**P**erks**
- **Location** - This role is based in North Lakes.
- **Extra leave**:

- Enjoy additional leave days on us You’ll receive a paid ‘ME’ day and one paid volunteer leave day annually. Team members can also purchase up to two additional weeks of leave per year.
- **Paid parental leave**:

- We support our new parents with paid parental leave and other benefits.
- **Workplace giving**:

- If you’re passionate about a cause, then we are too - we offer workplace giving and we’ll dollar match your donations to registered charities.
- **Development opportunities**:

- We’re championing your development with internal programs and access to a wide range of online courses.
- **Employee discounts**:

- You’ll receive discounts on Budget Direct insurance products.
- **Reward and recognition**:

- We reward high performance wit