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Head of Prudential Risk

London, United Kingdom
Competitive Salary
Closing date
Feb 13, 2024

View more

Job Role
Risk Manager
Contract Type
Full Time
St. James's Place (SJP) works in partnership to plan, grow and protect our clients' financial futures. We deliver personalised, face-to-face financial advice to our clients, who trust us to manage their money to reach their goals. We provide this service via the Partnership, a network of qualified, expert advisors. We put financial wellbeing and responsible business choices at the heart of everything we do. We believe in the value of difference and know that diverse teams can help us problem and innovate for clients.

We look for people to join SJP to make an impact and to contribute to our culture which is based around long term relationships, doing the right thing, and being the best version of ourselves.

Cirencester Office

Workplace Type: Hybrid

Employment Type: Permanent

Seniority: Director

This person will support the Group Risk Management Director discharge their Risk management responsibilities in relation to the Group and Legal entities CROs through the leadership of the Prudential Risk team. They will be responsible for risk oversight of the SJP Group and key regulated subsidiaries from a Prudential perspective, ensuring that regulatory requirements are met and that appropriate management solvency and liquidity buffers are in place. This role requires an experienced qualified actuary with relevant industry experience and proven leadership skills.

What you'll be doing:

Through the leadership of the Prudential Risk team the role-holder will have responsibility to:
  • Lead the development of the Prudential Risk team.
  • Provide expert prudential risk knowledge and challenge in relation to high profile and strategic business matters.
  • Direct targeted risk assessments to understand specific, material and financially focused risks, such as liquidity and credit risk.
  • Direct and ensure the delivery of the Solvency/Capital assessment framework and reports.
  • Direct capital adequacy reviews for other Group entities, including SJPWM and SJPUTG.
  • Provide oversight of ORSAs and ICARAs for smaller subsidiaries in the business where responsibility for the reports is not within the Group Risk team.
  • Direct and oversee dividend reviews.
  • Oversee the development and maintenance of the Recovery & Resolution plans for the Group and legal entities.
  • Deliver effective Prudential Risk Reporting supporting relevant Executive forums and legal entity boards.
  • Oversee the quantitative reasonableness of Operational Risk Assessments and refine the process for operational risk aggregation and allocation between Group entities.
  • Provide expert risk input to external reporting (Solvency II & Financial Reporting).

Who we're looking for:
  • Member of the Institute & Faulty of Actuaries or a professional financial or risk management body.
  • Technical expert with very strong understanding of Solvency II and how different risk drivers change the solvency capital requirements for the SJP Group.
  • Good knowledge of IFPR and technical specialist in Risk Management and quantifying risk.
  • Previous experience within UK Financial Services - ideally Wealth Management.
  • Experience of leading managers and risk professionals.
  • Understanding of how the SJP business operates including its products, investment approach, operating model and legal entity structure, or ability to quickly get up to speed on how the business works.
  • In-depth analysis skills - able to define complex problems and develop innovative solutions.
  • Able to inform the PLC Board (through the Group Risk Committee) and relevant subsidiary boards of the risk and control environment relevant to them.
  • Excellent interpersonal skills - calm, professional and firm with senior Stakeholders.
  • Externally represent SJP as required with key regulators including PRA and FCA.
  • Establish effective collaborative relations with internal and external organisations.

What's in it for you?
  • Private Medical - up to family cover paid for by Company- via BUPA. No excess for claims.*
  • Meaningful protection benefits with real value, such as 10X life cover, PHI, and critical illness.*
  • Non-Contributory Pension - 10% (increasing with length of service up to 15%) with further pension matching.
  • Parental leave - 6 months full pay
  • 28 days holiday entitlement plus bank holidays (based on full-time equivalent) with the option to buy up to an additional 5 days holiday
  • Not applicable to Fixed-Term Contracts (standard uplift applies in lieu of the protection benefits)

Flexible Working

We know that everyone works best in different ways, at different times and in different environments. We have introduced a hybrid working policy to provide greater flexibility for part-time work, job-sharing, remote working, and flexibility on hours. Our people are encouraged to work in a flexible way that suits their lifestyle, so please ask the question and start a conversation!

Research tells us that applicants (especially those from underrepresented groups) can be put off from applying for a role if they do not meet all the criteria or have been on an extended career-break. If you think you would be a good match for this role and can demonstrate some transferable experience please apply, regardless of whether you tick every box.

What's next?

Our team will be in touch. As a business regulated by the FCA we would advise you to familiarise yourself with the conduct regulations and in particular consumer duty obligations prior to an interview with SJP.



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