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Head of Risk Assurance

Please Note: The application deadline for this job has now passed.

Job Introduction

Role: Head of Risk Assurance – Credit & Financial Risk

Role location: Milton Keynes OR London

Salary: Competitive + excellent benefits


Who are we?


Life is sometimes messy, unpredictable, and surprising — that’s where we come in. 118 118 Money is a fast-growing tech enabled disruptor in the financial services market. Our mission is to help our customers handle whatever lands in their path, so they can get back out there and get on.


We hit the ground running in 2013 with our revolutionary unsecured personal loans and credit cards, giving UK residents access to credit at fair and affordable rates that we believe they deserve.


We have offices in Cardiff, Milton Keynes, with our HQ in London, the UK. Our customers teams are based in Manila, the Philippines.


Our people


Our people are the heart of our business, this is a theme we all share as we look to build our people capability for the future. We recognise, reward, and celebrate great performance and behaviour. We provide a positive environment for our people to collaborate and thrive. We recruit great talent who share our values and ambition.


Risk Management is what we’re all about!


Risk Management is at the core of everything we do at 118 118 Money; it's how we ensure we deliver on our commitments to our customers, colleagues and stakeholders and will be a key enabler as we execute our exciting growth plans.


When done correctly, Risk Management underpins and accelerates business growth and therefore we're looking for skilled risk managers to help mature our 2nd line risk management culture and capabilities. Our risk managers need to be experts in their field who can use their knowledge and experience to ensure a robust but proportional risk management approach across our growing business.


The opportunity – we promise it’s a great one…


118 118 Money operate a 3 Lines of Defense Risk Management model and as a Head of 2nd Line Risk Assurance, you’ll be responsible for designing and executing a range of activities that provide independent assurance of the data, models, analysis and management information used and generated within the Credit Risk and Finance functions.


Leading a small team of analysts, you’ll also use your expertise and experience to support the 1st Line as they mature the control environment and also support Internal and External Audit teams in the execution of 3rd Line reviews.


The role will also provide opportunities to shape and deliver critical elements of the firm’s wider Enterprise Risk Management framework, engaging directly with the Executive Team and to play a leading role in the maturation of the 2nd Line function.


This role can be based in Milton Keynes or London.

Role Responsibility

What will you be doing?


  • Design and execute activities to provide independent assurance of all key Credit & Financial analytical inputs and outputs including; data, models, strategies, MI
  • Provide robust technical and operational challenge and deliver impactful and proportionate recommendations that accelerate the maturation of the control environment
  • Lead and develop Risk Analysts
  • Develop, support and coach 1st Line teams as they pro-actively enhance their control environment and fully implement the key elements of the firm’s Enterprise Risk Management framework
  • Help ensure the flawless execution of Credit & Financial change programs by undertaking a thorough risk assessment and ensuring appropriate controls are implemented
  • Support the delivery of Internal and External Audits within the Credit Risk and Financial functions ensuring the efficacy of the reviews and the timely completion of all agreed management actions
  • Represent the 2nd Line at Credit Risk Committee and other key meetings ensuring that all relevant risks are discussed and, where necessary, escalated appropriately

The Ideal Candidate

What you’ll need:


  • Proven experience of working in analytical and/or model development roles within a Credit Risk and/or Finance function
  • Educated to degree level of equivalent in a relevant analytical discipline
  • A broad working knowledge of Risk and Control disciplines; previous experience working within a 1st or 2nd Line function would be advantageous but not essential
  • Good Knowledge of regulatory and compliance standards impacting the Credit Risk and/or Finance functions within a Financial Services business – e.g. accounting standards including IFRS9, Credit Scoring standards, CONC rules re. credit management, etc
  • Proven ability to work with, and effectively challenge, stakeholders across the organisation, including those with subject matter expertise in Credit & Finance
  • Excellent communication skills, both verbal and written
  • A demonstrable ability and willingness to take on and resolve challenges outside of their immediate area of expertise or responsibility
  • Team Leader experience is desirable
  • Strong technical skills such as SQL, Excel would be desirable
  • A passion for making a difference

About the Company

What’s in it for you?


  • A competitive salary
  • Company bonus scheme - if the business does well, you should get rewarded for your hard work
  • 25 days' annual leave (plus bank holidays) – your balance stars from day 1 so don’t delay and start planning your time off!
  • Company pension scheme – we provide an enhanced pension scheme with generous employer contributions to set you up for the future which includes life cover of 4x your base salary
  • Cycle to work scheme – you’ll have the opportunity to purchase a new bike and pay us back each month
  • Eye test – you can claim a freebie each year, or if your needs change
  • Private Medical Insurance – for qualifying roles, you will be eligible to join the scheme (subject to the insurer’s criteria)
  • Employee Assistance Programme - we offer membership to a recognised scheme to support you and your wellbeing
  • A strong ethos of equality, diversity, and inclusion
  • Wide business exposure, in terms of business disciplines, projects and stakeholders
  • Direct contribution to business transformation and growth
  • Being valued as an individual from our team
  • Full training, support and mentoring to develop a successful career in financial services


Like what you’ve heard? Great - apply now!


As a candidate, we know the interview process can be daunting and so it’s important that you have a great experience with us. We will do all we can to make sure you are fully informed, are excited by our story so we get to see the best from you. Following your application, we will want to learn more about you, your motivations, experiences, and values. In turn, you get to learn about our business, our culture, the role and what we can offer you.


Equal Opportunity Employer


At 118 118 Money we are passionate about equality, diversity, and inclusion. We are committed to being representative of different cultures, background, lifestyles, and groups, where everyone has an equal chance to succeed. It is our policy to treat everyone fairly and to ensure no one is disadvantaged or receives less favourable treatment.


How we handle your data


118 118 Money requires your personal data to process your application for a position within our Company.


If your application is successful through to telephone screening/interview, and you are not selected for a role, we may store your personal data for 12 months to enable our HR team to contact you should future roles be advertised. Where you apply, but are not selected for telephone screening/interview, we will delete your personal data once the position is filled.


118 118 Money does not use automated decisioning or profiling when selecting candidates. For your rights under GDPR please see our Privacy Policy


Please be aware that should we pursue your application, all our Financial Services employees will be expected to complete background checks to assess suitability for employment, these include; a criminal record, identity, sanctions, adverse finance, fraud prevention and reference checks to comply with our regulatory requirements.

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