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Regulatory Risk Manager

As a Regulatory Risk Manager, you will be responsible for ensuring, on a day-to-day basis, that regulatory risks are effectively identified, assessed and managed in the Commercial and Marketing division, in line with Argos Financial Services’ risk appetite.

Under the direction of the Senior Manager, you will provide an ongoing technical ‘consultancy’ service to the division, providing high-quality expert advice and support on regulatory requirements and risks relevant to the activities of the division, you will support the division in managing its regulatory risks by carrying out 1st line review, assessment and assurance of regulatory conduct and compliance controls. This may include review of processes and procedures, case reviews, sample checking and analysis of MI where necessary to assess the quality and effectiveness of those controls on an ongoing basis.

You will be joining Financial Services where our aim is to make life better every day for Argos customers. We help customers afford and protect what matters most, offering products and services including Credit, Warranties & Insurance. The Financial Services department is the profit creator and that’s why it’s the most exciting place to be: right at the heart of the action. Here, you can be part of something bigger and help to create a new approach that puts the customer at the heart of everything we do.

As a Regulatory Risk Manager, you will:

Provide timely and high-quality specialist advice and guidance to Commercial and Marketing division on all aspects of compliance, applying current and forthcoming regulatory requirements that relate to its business activities (including the provision of product support services to Sainsbury’s Argos) across the FCA Handbook (primarily CONC and ICOBS), the Data Protection Act and PECR and relevant industry codes of practice, including the Codes of Advertising Practice and the FML.
Apply knowledge and experience appropriately to identify and assess potential risk exposures and propose credible mitigating actions for the business to consider.
Provide credible and proportionate expert support to key business development projects to ensure that conduct and customer risks are identified and mitigated in line with risk appetite, developing risk mitigation strategies for the business to consider.
Work with the business to undertake specific ‘deep dive’ risk reviews on key areas of conduct, customer and regulatory risk in the C&M division, and across 3rd party suppliers.
Develop and maintain effective processes and procedures to manage any regulatory breaches that may be identified in the division from time to time, and ensure that these are escalated appropriately, in line with AFS’ risk framework and policies. Oversee and challenge the actions undertaken by the business to resolve them.
Execute, on a day to day basis, an ongoing programme of proactive and risk-based risk assessment, review, testing and MI analysis to assess the effectiveness of all regulatory risk controls operating in the division and confirm alignment to AFS’ regulatory risk policies.
Provide informed reporting to the Head of the department and to senior management on the extent to which the division’s exposure to regulatory risk is being maintained within the risk appetite.
Review and challenge business action plans to remediate identified areas of control weakness, or implement necessary regulatory change, and monitor the timeliness of progress in delivering these.
Provide SME support to projects as they arise in the division’s business development programme, working within project structures to deliver expert conduct and regulatory risk input and support colleagues in devising proportionate and pragmatic solutions to conduct and control challenges.
Be required to work with peers and colleagues to embed a culture of excellence in regulatory risk and control management within the division.

As a Regulatory Risk Manager, you will have:

Experience of holding a manager or senior associate role within a conduct risk/compliance function in a retail financial services business.
A strong understanding of the FCA’s regulatory approach and principles of good conduct risk management, in the context of a consumer credit or general insurance business, with strong applied knowledge and understanding of CONC, SYSC, ICOBS and DISP.
The ability to identify weaknesses in key controls and material customer outcome risks and issues, and to propose proportionate and pragmatic solutions that are sensitive to the wider commercial environment in which the FS business operates.
Competent stakeholder management, questioning and influencing skills.
The capability to make strong, constructive judgements that balance commercial, customer and regulatory considerations in a proportionate way.
The ability to assess and articulate regulatory risks and issues in customer outcome-focused terms.
A resilient and objective approach to working with colleagues and peers to ensure that the division responds appropriately and proportionately to regulatory risks and issues identified along with the ability to challenge colleagues in a collaborative and constructive manner.
The ability to balance responsiveness to commercial needs with the desirability of operating within risk appetite.

In addition to the above, it would also be advantageous if you have experience of a retail FS business with product provider (or broker provider) accountabilities, experience of participation in 1st line risk or compliance function transformation activity and/or experience of an outsourced operating model (or of distribution of white-labelled products provided by 3rd parties).

As well as the opportunity to join a great team you will also receive a competitive salary, 24 days’ holiday, and a range of other great benefits. We will support you in developing your skills to build the career you want.

There’s never been a more exciting time to join Argos. We are capitalising on our success and going through a great transformation. It’s a period of expansion and rejuvenation; we’re shaking things up and creating more opportunities than ever before.

As this role involves working in a regulated environment any offer made will be subject to satisfactory background checks including criminal record check, credit check and employment references.

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