Chief Risk Officer - Aon Investments Limited
The Chief Risk Officer – AIL is part of the part of the UK Risk and Compliance ("UKR&C") function. UKR&C reports through to the Global Law and Compliance function. The Chief Risk Officer (CRO) is responsible for ensuring robust, independent oversight and challenge of first line management's risk-taking activities across the organisation. Also responsible for the development and embedding of effective risk management policies, procedures, and processes to identify, measure, handle and monitor all relevant risks; ensuring that risks are handled within agreed appetite limits set; and reporting on those risks as appropriate.
The incumbent will provide oversight and 2nd line challenge on risk related matters whilst maintaining close working relationships with the key partners to provide alignment with policies and approaches across the business.
Aon is in the business of better decisions
At Aon, we shape decisions for the better to protect and enrich the lives of people around the world.
As an organization, we are united through trust as one inclusive, diverse team, and we are passionate about helping our colleagues and clients succeed.
The FCA's Senior Managers & Certification Regime (SM&CR) applies to Aon from December 2019 and this role is subject to the relevant requirements of the Regime.
The primary aim of SM&CR is to drive individual accountability for all roles within the Financial Services Sector.
Aon must ensure those in senior roles, with the potential to cause significant harm to customers and the business of the firm, are deemed to be fit and accurate at all times and also to ensure everyone working in the sector adheres to a set of Conduct Rules and are held to account where they do not meet the right standards of behaviour.
What the day will look like
- Evaluate and report on the overall risk profile and material risk exposures to the Executive Team, Board, Board Risk Committee, providing independent oversight, advice, challenge, and leadership on all aspects of risk across the AIL business.
- Advise the RCC on appropriate risk appetite for AIL. Facilitate the ongoing evolution of a risk strategy and associated risk appetite, for both normal and stressed conditions. Changes will be submitted for consideration and approval by the Board.
- Proactively and objectively challenge planning and decision-making processes, ensuring that risk management, in line with the Board's risk appetite, is an appropriately integral part of decision-making processes throughout the business.
- Ongoing maintenance of the risk management framework to ensure it remains consistent with the AIL risk appetite and appropriate for its needs. Lead the implementation of and ongoing adherence with the Risk Framework, including periodic review of the risk management framework.
- Together with the CFO, be responsible for the production of the ICARA.
- Subject to the direction of the RCC, identify and proactively monitor and report on;
- appropriate Key Risk Indicators for the business;
- the risk tolerances for each of the KRIs;
- performance of the KRIs against these risk tolerances; and
- escalation of KRIs that are outside risk tolerance.
- Advise the RCC on the Top Tier and emerging risks for AIL, and report regularly on each of the Top Tier Risks.
- Assess and handle the risk of new products and services.
- Work closely with the management of AIL to ensure that;
- management and all colleagues within the business understand their role as first line of defence on risk issues;
- there is an appropriate risk culture within the business; and
- as the business changes and develops over time the risk aspects of these changes are handled appropriately in accordance with the risk framework.
- Act in accordance with Aon Values.
Skills and experience that will lead to success
- Thorough Understanding of:
- Investment Management
- Investment Consultancy
- The types of risk involved in the business activities of AIL and the methods and tools for mitigating risks.
- Creative and innovative with validated leadership and people management skills.
- Able to influence positively and collaboratively to gain consensus at all levels as well as challenge all aspects of risk issues affecting business.
- The ability to exercise sound judgement when reviewing qualitative issues such as legal arguments; and an ability technically to assess operational proposals or discussions on information technology.
- Demonstrable thought leadership with the ability to develop and implement a vision that integrates key goals and priorities.
Expertise and Qualifications
- Graduate or relevant professional qualification
- Risk professional with experience and good working knowledge of key risk classes including market, reputational, operational, financial crime, cyber, compliance and conduct risk plus systems to lead, monitor and report on these risks.
- Experience as a senior risk professional is preferable but training and development will be put in place to address any gaps.
- Knowledge and understanding of investment industry trends and standard methodology, with the ability to apply knowledge to direct priorities within the business.
- Possess the credibility and gravitas to work effectively as a member of the executive management team and influence effectively at senior partner level including board presentations.
- Excellent analytical skills, with the ability to identify problems and develop solutions. Ability to handle details while maintaining a strategic view.
- Ability to work effectively with ambiguity and change. Ability to make change, drive continuous improvement and results.
- Effective communicator with the ability to concisely articulate complex risk issues and solutions.
How we support our colleagues
In addition to our comprehensive benefits package, we encourage a diverse workforce. Plus, our agile, inclusive environment allows you to handle your wellbeing and work/life balance, ensuring you can be your best self at Aon. Furthermore, all colleagues enjoy two "Global Wellbeing Days" each year, encouraging you to take time to focus on yourself. We offer a variety of working style solutions, but we also recognise that flexibility goes beyond just the place of work... and we are all for it. We call this Smart Working!
Our continuous learning culture inspires and equips you to learn, share and grow, helping you achieve your fullest potential. As a result, at Aon, you are more connected, more relevant,