Risk & Control Officer; Rco; Regulatory Operations

JOB OVERVIEW

The UK Operations (1

LoD) Risk & Control Officer (RCO) – Reports directly to the UK Head of Regulatory Operations. They will execute the 1

LoD risk and control responsibilities for the function on behalf of the Head of Function or Risk Owner. This pivotal role will work closely with functional stakeholders, Risk and Compliance to drive the first line risk and control agenda, ensuring a robust control environment that supports sustainable business growth within regulatory and risk appetite expectations.

They are accountable for owning and operating first line of defence risk management activities within the function, in line with the UK Risk Management Framework and regulatory expectations. They will support Risk Owners by ensuring that functional risks are identified, assessed, managed, monitored and reported effectively.

Suitable candidates may have developed their experience within either a First Line Risk & Control function or a Second Line Risk function, provided they can demonstrate strong practical exposure to risk and control frameworks, control testing and effective partnership with business control owners within a mature risk management environment.

The position follows a hybrid schedule working at at Croydon or Birmingham (3 days a a week in the office).

Key Responsibilities/What you do

• Own and execute risk management within the function, including documenting processes, risks, controls and residual exposures.
• Design, implement and maintain effective 1
  
  LoD controls within the business area in line with Group and UK frameworks, with a particular focus on operational, change and compliance risks.
• Perform testing of key control design and effectiveness in line with an approved risk-based plan, as well as supporting RCSA process and control effectiveness attestations.
• Track and oversee remediation, transformation and enhancement actions, including audit or compliance findings.
• Provide risk and control input to business, operational and regulatory change initiatives, ensuring risks are identified, assessed and managed throughout implementation.
• Log, investigate and manage operational risks / incidents / near misses, including root‑cause analysis and coordinating the implementation of corrective actions.
• Monitor risk appetite metrics, KRIs and control indicators, identifying breaches, near misses and emerging risks in line with the UK Risk Taxonomy and approved risk appetite
• Support adherence to frameworks setting requirements for Business Owners such as third party risk management and AI Governance.
• Produce and deliver clear, timely risk and control MI to functional management and governance forums to ensure actionable insights into control adequacy and emerging risks.
• Represent the function’s risk profile and key issues at relevant governance and working groups, escalating material concerns appropriately.
• Act as a trusted 1
  
  LoD risk partner to the business, providing constructive challenge on risk and control matters, promoting a strong risk and control culture, driving continuous improvement and engaging effectively with 2
  
  LoD and assurance functions.

Key Requirements/What you bring

• Relevant degree in Business, Finance, Risk, Accounting or a related discipline, or an equivalent combination of education and professional experience.
• Professional qualification or accreditation in Risk Management, Internal Control, Audit or Accounting (or working towards) is desirable.
• Demonstrable experience in first line risk, operational risk management, internal controls, RCSA delivery, incident management or assurance within a regulated financial services environment.
• Detailed understanding of end‑to‑end functional products and…