Operational Risk Manager

When you join USS, the size and scale of our pension scheme means you will have numerous opportunities to learn and develop your career. Given our size you'll have real autonomy and influence as you collaborate closely with a wide-ranging team of experts.

Our office is a vibrant place to work, and we offer flexibility of office/homeworking due to our hybrid model.

About the role

In your role as Operational Risk Manager you will make a meaningful and valued contribution from the outset. This role is part of the 2nd line Enterprise and Operational Risk Management (EROM) team which has the mandate to coordinate and oversee all risk management and control activities across USS. This role reports directly into the Group Head of Enterprise & Operational Risk Management.

This role will be responsible for the design, implementation and ongoing maintenance of the enterprise risk management framework covering risk appetite, risk events, risk taxonomy, Risk & Control Self-Assessment (RCSA), control standards, emerging risks, top risks and scenario analysis. This role is crucial in ensuring that USS maintains a robust risk management framework that supports strategic decision-making and protects the organization's assets. This role requires good knowledge and practical experience of Risk Management Frameworks within a financial services firm.

What you will be doing

As a trusted part of the Group Risk and Funding you will:

• Ensure the enterprise risk framework is continuously updated to reflect the latest industry standards and regulatory requirements
• Lead the annual risk appetite refresh across USSL & USSIM
• Lead the emerging risk & top risk refresh
• Develop a 2nd line control assurance methodology in collaboration with Information Security and Compliance
• Continue the ongoing review and streamlining of the risk framework documentation
• Develop and maintain the framework training materials
• Oversee the roll out of the control framework implementation
• Present Policy & Framework changes to the Group Risk committee for approval
• Lead the bi-monthly Operational Risk Forum which includes risk champions & 2nd line functions
• Regularly assess the business adherence to the risk framework
• Serve as a trusted advisor and primary point of contact for framework-related inquiries

About you

We know that sometimes people can be put off applying for a job if they don't tick every box, if you're excited about working for us and have most of the skills or experience we're looking for, then please apply, regardless of whether you meet all the requirements outlined in this profile.

To be successful in the role you will have:

• Strong experience and knowledge of risk management framework best practices and methodologies
• The successful candidate is likely to have worked in a Risk function, business control function or audit function
• Good communication and stakeholder management skills are required
• Experience of Copilot or an equivalent generative AI tool is a plus

At USS, every individual contributes to building a secure financial future for our members and their families. We strive to create a work environment where everyone can thrive professionally while making a meaningful impact on the lives of others. We're also committed to helping you build your career by providing opportunities for development. We put a focus on recognising and supporting each individual's unique career path, driving this forward with the support of an engaged and proactive management team. Here at USS, we want you to thrive in and out of work with a friendly team, flexible culture and excellent range of benefits!

How we will reward you

• Generous annual leave package
• Access to a high quality pension scheme provided through Universities Superannuation Scheme
• Supportive people policies (including enhanced occupational sickness pay and family friendly pay)
• Financial contributions towards your personal development to help you maintain your physical and mental wellbeing
• Access to a range of health and wellbeing services i.e., private healthcare, discounted gym membership
• Learning and development opportunities to develop your skills, knowledge and talent
• Employee Volunteer Days to support the communities where you work and live
• Cycle to Work Scheme

Our culture and values

Our people are what makes us different. We work together to create a diverse and inclusive culture that embraces individuality, where people are welcomed and feel comfortable in the knowledge that they can be themselves. Our purpose firmly states the importance of members, putting them 'front and centre' of what we do. This is embedded through our values:

- Integrity
- Collaboration
- Excellence

About us

Universities Superannuation Scheme (USS) was established in 1974 as the principal pension scheme for universities and higher education institutions in the UK. We work with around 330 employers to help build a secure financial future for more than 528,000 members and their families. We are one of the largest pension schemes in the UK, with total assets of around £75.5bn (at 31 March 2023). To find out more, please visit

USSL is proud to be an equal opportunity employer. We strive to ensure our recruitment process is as flexible and inclusive as possible so we can attract diverse candidates and recruit the best talent. We want all candidates to perform at their best during the recruitment process, so if you need any reasonable adjustments or if there is anything we can do to help support you through your recruitment journey please let us know by contacting .