Pensions Risk and Compliance Manager

London, England, United Kingdom

5/21/2025

Job title – Pensions Risk and Compliance Manager

Salary –Circa £60K + TfL benefits

Contract Type – TfL Permanent

Location – Palestra, with hybrid working

(Hybrid working within this role enables a balance of 50 per cent of time split between the office and home over a 4-week period. Hybrid working arrangements can evolve subject to business requirements.)

About The Role

We’re looking for a Pensions Risk and Compliance Manager to join our team at Transport for London (TfL). In this key role, you’ll help ensure our pension operations are compliant, well-governed, and resilient. You’ll work across administration, systems, and finance, providing assurance that we’re managing risk effectively and delivering high-quality service to our members.

This is a great opportunity to make a meaningful impact in a purpose-driven organisation that values collaboration, inclusion, and continuous improvement.

Job Purpose

The Pensions Risk and Compliance Manager will be responsible for ensuring Regulatory and Legislative compliance across mainly pensions administration and system activities and change, but also pension scheme finance. The role holder will enable, evidence, and provide assurance, on a regular basis, that the Pension Fund Office Team is operating in an appropriate and controlled manner and that risk is being rigorously managed and quality issues are addressed.

Key Accountabilities

• Designs and implements a thorough and robust compliance framework structure, frequently undertaking independent audit and compliance checks on the activities across Pension operations. This includes compliance in change and project work in the service delivery team.
• Creates appropriate tools and frameworks to embed compliance, internal controls, and assurance reporting. Identifying and mitigating risks as well as escalating matters to the Head of Pensions.
• Works closely with the service delivery and systems teams ensuring technical excellence and a practical approach as well as liaising and leading discussions with the Pensions Regulator in relation to regulatory technical matters and the supervisory activities of the business.
• Identifies process, control improvement & training needs, recognising key improvements to help continually drive quality
• Manages and maintains the Trustee risk register, Effective System of Governance (ESOG) and assurance documents, attending Trustee meetings accordingly. Reviews existing procedures to ensure they meet the current guidelines and are robustly documented and maintained.
• Responsible for creating a data management policy, roll out of appropriate processes and controls for processing data and monitoring adherence in line with Trustee Policies.
• Ensures the Fund fulfills its obligations and is compliant with the General Data Protection Regulation (GDPR) and the Pensions Regulator.
• Represents and is responsible for managing the Pensions Operation’s cyber risk on behalf of the Pensions Team, working with Tech & Data and Cyber security team.
  
  

Skills

Skills, Knowledge & Experience

• Clear and effective communicator, both verbal and written
• Strong interpersonal and collaborative skills
• Excellent organisational and prioritisation abilities
• Confident influencing and negotiating with a range of stakeholders
• Quick to grasp new concepts and understand their impact on assurance and operations
• Able to work independently and as part of a team
• Highly analytical with strong research and problem-solving capabilities
• Meticulous attention to detail and accuracy
• Good level of IT literacy
• Broad technical knowledge and experience in operational compliance for Defined Benefit (DB) pension schemes
• Ability to work effectively across quality standards sub-functions, including procedures, privacy, and pensions technical areas
  
  

Knowledge

• Deep understanding of the regulatory environment for occupational DB pensions and the wider operational and control landscape
• Strong working knowledge of GDPR legislation and data governance
• Familiarity with Root Cause Analysis (RCA) and preventative action methodologies
• Understanding of assurance frameworks and quality management principles
  
  

Experience

• Proven experience managing risks and issues in a pensions or financial services context
• Experience designing and implementing internal controls and identifying operational risks
• Background in working within assurance frameworks for pension scheme operations
• Experience applying continuous improvement through quality management principles
• Commercial and practical approach to problem-solving
• Professional qualification from the Pensions Management Institute (PMI) or a relevant body
  
  

Equality, diversity and inclusion

We are committed to equality, diversity and inclusion. We want to represent the city we serve, which will help us become a more innovative and efficient organisation. Our goal is to make our recruitment as inclusive as possible. We are a disability confident employer who guarantee an interview to any disabled candidate who meets all of the essential criteria. We also use anonymising software that removes identifying information from CVs and cover letters to make the process fair.

Application Process

• Please apply using your CV and a one-page covering letter. PDF format preferred and do not include any photographs or images
• Think carefully about the skills, knowledge and experience in the advert and cover this in your CV and cover letter
• PDF format preferred and do not include any photographs or images
  
  

The closing date for applications is Sunday 8th June 2025@ 23:59

Benefits

In return for your commitment and expertise, you will enjoy excellent benefits and scope to grow. Rewards vary according to the business area but mostly include:

• Final salary pension scheme
• Free travel for you on the TfL network
• Reimbursement of 75% of the cost of a standard class Ticket for National Rail travel from home or 75% reimbursement on a 28-day flexi ticket
• 30 days annual leave plus public and bank holidays
• TfL is committed to work-life balance, operating a hybrid working approach where business and role requirements allow.
• Private healthcare discounted scheme (optional)
• Tax-efficient cycle-to-work programme
• Retail, health, leisure and travel offers
• Discounted Eurostar travel