Description:
RISK MANAGER – CORPORATE PENSIONS SOLUTIONS
An exciting opportunity has arisen for a Risk Manager to join our highly regarded Risk, Assurance and Remediation team within M&G Life.
This role will be aligned to Corporate Pensions Solutions, supporting the senior leadership teams. You will work closely with the Head of Risk (Life) and the wider risk function, acting as a trusted partner to the business to support the execution of the Pension Risk Transfer (PRT) strategy, supporting pension schemes as they look to reduce long‑term risk and improve certainty of outcomes.
This position is ideally suited to someone with strong, recent Bulk Purchase Annuities (BPA) experience who has a deep understanding of the product and associated processes (Buy in/Buy Out) and is keen to apply that expertise in a broader risk and control context. While experience in non‑financial risk is valued, the strength of your PRT/BPA knowledge is the primary requirement.
The Role
As a Risk Manager, you will embed effective operational risk management practices within the BPA business, ensuring they align with M&G policies, frameworks and standards. You will act as a key risk advisor to the Corporate Pension Solution leadership team, supporting informed, risk‑based decision making while maintaining pace and commercial focus.
Key Responsibilities
- Partner with the Corporate Pension Solutions MD and leadership team, using your PRT/BPA experience to provide practical, credible challenge and support on risk and control matters.
- Support the rollout and ongoing operation of risk management practices in line with M&G’s Operational Risk Framework, building capability within the business.
- Lead the coordination of change risk assessments for projects and transactions, ensuring risks are clearly understood and appropriately managed.
- Support business leaders to identify and assess key risks across the BPA value chain, agree risk treatments and implement effective controls.
- Monitor and interpret the risk and control environment using key indicators such as issues, notifiable events and KRIs, translating these into meaningful insights for senior leaders.
- Lead/support risk governance forums for the Corporate Pension Solutions business, ensuring clear, forward‑looking risk profiles are presented and discussed.
- Proactively identify and assess emerging risks impacting the business through change assessments, process reviews and issue root‑cause analysis.
- Manage or contribute to thematic reviews covering risk, controls or policy adherence.
- Oversee the RCSA process, supporting senior leaders to deliver high‑quality, timely submissions that reflect the true risk profile of the team.
- Work collaboratively across the three lines of defence, including Compliance, Audit and Group Risk, to maintain a strong and proportionate control environment.
- Drive continuous improvement initiatives within the team and risk function.
- Potential to lead, coach and develop a small team (1–2 risk analysts), ensuring a high‑quality risk SME service is provided to stakeholders.
Essential
Key Knowledge, Skills & Experience
- Recent and substantial experience within a Bulk Purchase Annuity (BPA) environment, with a strong understanding of BPA products, transactions, processes and commercial drivers.
- Significant experience (typically 10+ years) within regulated financial services, gained in a business, first or second line role.
- Credibility and confidence working with senior leaders, with the ability to translate complex BPA activity into clear risk insights.
- Strong stakeholder management, communication and influencing skills.
- Analytical mindset, strong attention to detail and a proactive, solutions‑focused approach.
Desirable (Not Essential)
- Experience of operational or non‑financial risk frameworks, methodologies or RCSA processes (training and support can be provided).
- Broader knowledge of life insurance and pensions markets.
- Experience working within complex, matrixed organisations.
- Familiarity with M&G systems, services or distribution approaches.