Risk and Controls Consultant - Edinburgh, United Kingdom - abrdn

abrdn

Verified Company

Edinburgh, United Kingdom

2 weeks ago

Posted by:

Tom O´Connor

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Description

Job Description

Job Title: Risk and Controls Consultant

Contract Type:
FTC - 12 Month

Location:
Edinburgh

At abrdn, our purpose is to enable our clients to be better investors.

Clients worldwide trust us to find future-fit investment opportunities to deliver the outcomes they want.

Our technology and insight help empower them to make better decisions, while the powerful partnerships we build help to enhance the expertise that we offer.

And by enabling clients to invest responsibly, it helps us to build a better world.

About the team

Operating within the abrdn Investments Vector COO - Investment Vector Governance function, the 'Risk and Controls' team support all areas of the Investment Vector in the management and control of their risks and issues.

This is key to the development of the new Investment Vector Governance, Risk Management and Controls framework recently endorsed by the Investment Vector Executive, and sponsored by IV CEO.

The team produces regular reporting to internal and external customers with trend analysis of issues and errors and commentary on the control environment.

The team also perform controls reviews where internal operational issues or areas of risk are identified, or where there is a significant control breakdown at a supplier.

This may result in the delivery of due diligence visits to key Third Party Suppliers and attendance or contribution at key supplier meetings such as Control Committees or Joint Risk and Compliance Committees.

About the role

The purpose of this role is to support all areas of the Investment Vector in the management and control of their risks and issues, both internally to the organisation and across the third-party administrators.

This is a first line Risk and Control role within the Governance Risk and Controls area.

The team manages responding to internal risk events or TPA Operational Events.

These could manifest in pricing errors, breaches or other issues, so a key part of the role is supporting teams across the Investments vector to correct incidents, ensure appropriate compensation and remediation of clients and funds, support reporting and raising of events and focus on effective preventative actions and improvements to strengthen controls and process across the vector and help to prevent re-occurrence.

The role will interface internally with multiple areas across the Investment Vector, including Manufacturing, Commercialisation and Enablement teams within the vector and key contacts in Corporate Functions such as Risk and Compliance.

Externally the role will collaborate with critical Third Party Administrators for the Investment Vector (principally Citigroup, BNPP, BoNY and State Street) as well as other external providers such as Trustees, Depositaries and external auditors.

The role combines a blend of regular tasks, project work, new business enablement and participation in industry initiatives.

Key Outcomes- As a team, support the roll out and embedding of the new Investment Vector Governance Risk and Control strategy across the Investments Vector- As a team, fully understand the key accountabilities, processes and controls that are critical to delivery of customer or regulatory outcomes across the Vector and provide support and partnership to internal leadership teams and external customers in ensuring risks are effectively managed and controlled- Help to identify control and process weaknesses across the Investments Vector and work with the stakeholders to improve controls efficiently and effectively;- Keep up to date with material changes to operating models that support key client and regulatory outcomes- Understand and support strong governance for Legal Entities across the Investment Vector helping to ensure timely and accurate reporting and raising of issues and management of key risks- Globally, ensure that risk events or external operational events or pricing errors follow the appropriate notification, investigation and resolution process, with a focus on understanding the root cause of issues and implementing preventative actions where necessary;- Support or periodically lead operational improvement workshops and control reviews covering end-to-end processes and controls across the Investments Vector and third-party suppliers to identify control weaknesses and implement improvements, this may involve due diligence reviews of key third parties and production of concise and useful reporting;- Build and sustain productive working relationships with key internal and external customers to support embedded good governance, sound risk management practices and improvements to the Investment Vector control environment.- As a team, contribute to the effective running and management of key Governance Risk and Control Forums, such as Operational Risk and Controls Forum, Investment Vector Risk and Controls Forum or Joint Risk and Compliance Committees with key third party administrators.

- To assist in the planning and Trustee an