Operational Risk Associate

WTW is growing its Outsourcing business and plays a critical role in helping some of the UK's largest organisations deliver high-quality pension administration services to clients, trustees and members. As we continue to expand, we're looking for an Operational Risk Lead to help ensure our services remain resilient, well-controlled and focused on delivering positive customer outcomes. In this role, you'll work at the heart of the business, partnering with operational teams, senior stakeholders and Enterprise Risk Management colleagues to identify risks, strengthen controls and support effective decision-making.

You'll investigate operational incidents, analyse trends, challenge assumptions and use data-driven insights to help drive continuous improvement across our outsourced pension administration services. This is an excellent opportunity for a curious and inquisitive risk professional who enjoys solving problems, influencing stakeholders and making a tangible impact. You'll have broad exposure across the Outsourcing business, helping to protect client, trustee and member outcomes while contributing to the growth and success of a strategically important area of WTW.

The role sits within the Outsourcing Risk & Assurance team and reports to the Risk Manager. We offer a flexible hybrid working environment and welcome applications from individuals seeking a variety of flexible working arrangements.

The Role - Identify/Anticipate:
Conduct horizon scanning and monitor regulatory developments, industry trends and external events to identify emerging risks that may impact Outsourcing GB, pension administration services and client outcomes.

- Operational Resilience:
Support risk assessments for new and changing products, services and initiatives, ensuring operational risks, dependencies and resilience considerations are identified and addressed early.

- RACA:
Support the Risk and Control Assessment process, helping to ensure risks and controls are appropriately identified, assessed, documented and managed.

- Business Risk Assessment:
Review control self-assessments, challenge assumptions where appropriate and support the ongoing enhancement of the control environment.

- Root Cause Investigation:
Investigate operational risk incidents, perform root cause analysis and work with stakeholders to identify lessons learned and implement preventative actions.

- Risk Events Tracking:
Analyse incident and risk event data to identify trends, emerging risks and recurring themes, supporting escalation and informed decision-making.

- Support Core Risk Team

Activities:

Maintain risk registers, dashboards, root cause reports and management information, providing clear insight into risk exposures, control effectiveness and remediation progress.

- Reporting:
Produce high-quality risk reporting, governance materials and assurance outputs that support effective oversight and decision-making by management, clients and trustees.

- Monitoring:
Maintain accurate risk, control and action records within the GRC system, ensuring visibility, accountability and alignment with the risk framework.

- Actionable Remediation:
Work collaboratively with Operations, IT, Compliance, Legal and other stakeholders to develop and implement practical solutions that address control weaknesses and reduce risk.

- Change Implementation and Control Effectiveness:
Monitor the delivery and effectiveness of remediation activities, process improvements and control enhancements across the business.

- Learn:
Support wider Risk team initiatives and continuous improvement activities, bringing curiosity, attention to detail and a proactive approach to problem solving.

What you'll bring

Essential

• Experience in operational risk, controls, audit, compliance or governance within a regulated environment.
• Strong understanding of risk assessments, control reviews, incident management and root cause analysis.
• Ability to analyse risk data and produce clear reports, dashboards and management information.
• Understanding of the Three Lines of Defence model and risk management principles.
• Strong communication and stakeholder management skills.
• Experience maintaining risk, control and action records within a GRC or similar governance system.
• Advanced Microsoft Office skills, particularly Excel, Word and PowerPoint.
• Highly organised, proactive and able to manage competing priorities.
• High integrity and commitment to continuous professional development.

Desirable

• Relevant risk, audit, compliance or governance qualification.
• Experience with in pensions, financial services, outsourced services or another regulated industry.
• Experience supporting business change, control improvement or remediation activities.
• Understanding of client and trustee governance requirements.
• Experience preparing reporting and governance materials for senior stakeholders.

Competencies

• Working in Teams
• Driving Excellence
• Adapting to Change
• Focusing on Clients

What we offer:

Enjoy a benefits package designed to help you thrive, both professionally…