Operational Risk Manager

Who are we?

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​

118 118 Money operates a three Lines of Defence Risk Management model and as a Risk Manager you will be responsible for designing and executing a range of activities that provide monitoring, oversight, escalation and assurance of the risk and control profile across the business.

You will utilise your expertise and experience to support the business as we continue to mature and embed the risk and controls environment through development, challenge and oversight. You will be a trusted Champion of Risk within the second line of defence and drive the business forwards to further embed the Enterprise Risk Management Framework (‘ERMF’)

The role will provide opportunities to shape and deliver critical elements of the firm’s wider Enterprise Risk Management framework, engaging directly with the Executive Team and to play a leading role in the maturation of the 2nd Line function.

Key responsibilities and objectives:

• Carry out second line of defence assurance reviews of the risk and controls profile, completing deep dives where necessary.
• Drive and support the business to embed the EMRF/ORMP, providing business support and training where required.
• Provide robust technical and operational challenge and deliver impactful and proportionate recommendations that accelerate the maturation of a control environment.
• Facilitate and complete a suite of reporting by producing quality reports to aid the monitoring, management and escalation of risks.
• Facilitate the roll out of a robust Risk and Controls Self-Assessment process, guiding and supporting the business through design, implementation and embedding.
• Ensure that the risk function have an auditable control framework, ensuring quality and evidence.
• Develop, support and coach 1st Line teams as they pro-actively enhance their risk and control environments and fully implement the key elements of the firm’s Enterprise Risk Management framework and subsequent Risk policies and Standards.
• Support the flawless execution of change programs within the business by flagging risks and overseeing mitigation; ensuring appropriate controls are implemented and risks are identified, reported and mitigated.
• Provide oversight, challenge and monitoring of risk incidents (non-tech) through to closure.
• Support the delivery of Internal and External Audits within the business, ensuring the efficacy of the reviews and the timely, quality completion of all agreed management actions.
• Represent the 2nd Line at any required meetings, ensuring that all relevant risks are discussed and, where necessary, escalated appropriately and mitigated.
• Support the Director of Enterprise Risk with any additional targeted reviews or analysis.

What you'll need:

Skills and experience:

• Proven experience of working in a Financial Services environment within a risk or oversight function.
• Proven experience designing, embedding and monitoring risk and controls self-assessment (RCSA).
• Proven experience of developing and embedding a business-wide controls testing plan.
• A broad working knowledge of Risk and Control disciplines; risk frameworks, incident management, risk management.
• Knowledge of regulatory and compliance standards impacting Operational Risk (Systems & Controls - FCA Handbook, Consumer Credit, Consumer Duty).
• Proven ability to work with, and effectively challenge, stakeholders across the business.
• Strong analytical and problem-solving skills, with the ability to identify and assess operational risks and develop effective risk management strategies.
• Excellent communication skills, both verbal and written.
• Strong technical skills such as SQL, Excel would be desirable.
• A passion for making a difference.

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.

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.

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!

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.