Operational Risk Analyst

Who are 118118 Money?

At 118 118 Money, we are dedicated to helping Britain achieve financial fitness. In 2023, we proudly relaunched the iconic 118 118 twins, reaffirming our commitment to improving the financial health of individuals across the nation. Our loans and credit cards are designed specifically for those often overlooked by mainstream lenders, empowering over 800,000 customers on their journey to better financial well-being.

Our vision is to champion financial fitness throughout Britain by offering accessible products, valuable resources, and unwavering support. We are on a mission to provide fair and transparent credit solutions that promote financial well-being for all.

With an impressive 4.8 Trustpilot rating, we take pride in being an approachable lender, ready to provide clear financial support. If you’re inspired by what you’ve read and want to make a real difference in people's lives, keep reading—your next opportunity to contribute to our mission could be just a few clicks away!

What you’ll do

As part of the 2nd Line of Defence function, you will be responsible for providing independent advice, analysis and assurance of the firm’s control environment.

Focusing primarily, but not exclusively, on operational risk, you will work across all functions (Technology, Marketing, Finance, Operations, etc) helping to assure that the business operates in control and can easily evidence this to internal and external audiences.

Key Responsibilities & Objectives:

• Focusing primarily on Operational Risk, analyse the current controls environment assessing; the design and effectiveness of the current controls and the ability of the business to effectively evidence these controls
• Support the business areas to pro-actively identify their control gaps and provide independent assurance of the Risk Treatment plans designed to mitigate or close these gaps
• Support business areas in completing robust risk assessments for new projects and initiatives to ensure the suitability of current controls and/or that new controls are implemented as part of the project
• Manage the delivery/review of RCSAs (Risk & Control self-assessment)
• Manage the risk assessment and risk acceptance process
• Complete root cause reviews and identifying failure points along with remedial actions
• Support the delivery of 3LoD Audits across the business
• Support the maintenance and reporting of risk appetite across 118 118 Money’s risk taxonomy.
• Ensure appropriate reporting of risks and controls at all relevant internal committee meetings
• Support / lead the delivery of the wider Risk Management Strategy – examples of this may include; developing risk management training materials, supporting a thematic review of customer outcomes across the business, selecting and implementing new risk management systems, etc.

What you will need:

• Proven experience within a 1st Line of Defence or 2nd Line of Defence function within a Financial Services firm or as a Business Analyst within a Financial Services firm
• A strong understanding of Risk Management, Controls and Governance. The role holder will be exposed to all of the firms risk types covering Operational, Strategic, Customer, Credit, Compliance and Information Security risks.
• Experience of control design and control operating effectiveness assessments.
• Experience of delivering RCSA’s
• Experience of completing incident root cause reviews
• Proven analytical abilities are essential with process mapping experience desirable
• Advanced knowledge of Microsoft Tools, e.g., Excel, PowerPoint, Power BI
• An appreciation of the relevant legislation and regulation that determines how the 118 118 Money business should operate, conduct itself and treat its customers
• Proven ability to work with and appropriately challenge stakeholders of all levels – both internal and external stakeholders
• Strong communication and persuasion skills with an ability to present and convey complex messages in an easy to understand manner to individuals that are not risk experts
• Should be proactive, able to work on your own initiative, juggle competing demands whilst effectively managing your own workload.

What's in it for you?

• A competitive salary.
• Flexible, hybrid working opportunities.
• Company bonus scheme - if the business does well, you should get rewarded for your hard work.
• 25 days' annual leave, (plus bank holidays) increasing to 27 after two years service and 30 after five.
• Company pension scheme – we provide an enhanced pension scheme with generous employer contributions to set you up for the future which includes life cover of 4x your base salary.
• Eye test – you can claim a freebie each year, or if your needs change.
• Employee Assistance Programme - we offer membership to a recognised scheme to support you and your wellbeing.
• A strong ethos of equality, diversity, and inclusion.
• Wide business exposure, in terms of business disciplines, projects and stakeholders.
• Direct contribution to business transformation and growth.
• Huge learning and career progression opportunities.
• Being valued as an individual from our team.
• Full training, support and mentoring to develop a successful career in financial services.

Like what you’ve heard? Great - apply now!

As a candidate, we know the interview process can be daunting and it’s important that you have a great experience with us. We will do all we can to make sure you are fully informed and excited by our story so we get to see the best from you. If you need any adjustments made to help you with the interview process, just let us know and we’ll do our best to accommodate them.

Following your application, we will want to learn more about you, your motivations, experiences, and values. In turn, you get to learn about our business, our culture, the role and what we can offer you.

If you think you’d be great for the role, but don’t necessarily tick all the boxes, we’d still love to hear from you, so apply today and take the first step towards an exciting future!

Equal Opportunity Employer

At 118 118 Money we are passionate about equality, diversity, and inclusion. We are committed to being representative of different cultures, background, lifestyles, and groups, where everyone has an equal chance to succeed. It is our policy to treat everyone fairly and to ensure no one is disadvantaged or receives less favourable treatment. We recognise that everyone has different needs and while we can’t accommodate every flexible working request we are more than happy to have a conversation about it.

How we handle your data

118 118 Money requires your personal data to process your application for a position within our Company. If your application is successful through to telephone screening/interview, and you are not selected for a role, we may store your personal data for 12 months to enable our HR team to contact you should future roles be advertised.

Where you apply, but are not selected for telephone screening/interview, we will delete your personal data once the position is filled.

118 118 Money does not use automated decisioning or profiling when selecting candidates.

For your rights under GDPR please see our Privacy Policy

Please be aware that should we pursue your application, all our Financial Services employees will be expected to complete background checks to assess suitability for employment, these include; a criminal record, identity, sanctions, adverse finance, fraud prevention and reference checks to comply with our regulatory requirements