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Risk Manager, Superannuation Job Details

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Employer:  The Westpac Group
Job Ref No:  SYD47975
Job Title:  Risk Manager, Superannuation
Sector:  Asset Management
Sub Sector:  Traditional Asset Manager
Risk Type:  Regulatory/Compliance
Expertise:  Regulatory/Compliance
Did you know that we've been around longer than any other bank in Australia?
When we started up as Australia's first company in 1817 our goals were to deliver exceptional service and drive economic progress. And while we've grown up as a company and our family has gotten bigger, our goals haven't changed.
Today we have a clear vision to be one of the world's great service companies, helping our customers, communities and people to prosper and grow.
We believe that the service we provide defines us and exceptional service unifies us no matter which brand, division or role we're in.

Your Role

The purpose of this role is:

The role is accountable for delivering a strategic and integrated approach to risk across key areas of BT where we are providing superannuation and investment products and services and operations.

The role will personally, and through the leadership of their team:

• Support the BTFG strategy by assisting the business with the implementation of a risk management framework that strikes the right balance between risk and return within risk appetite and is a key enabler for the successful achievement of business objectives.
• Support the Executive and Senior Manager in leading the "2nd Line of Defence" Risk Management functions in relation to the delivery of the strategic plan for the future state of the Superannuation, Platforms & Investments, and Chief Operating Office businesses and ensure commonality and a strategic focus on the end to end product value chain, leveraging across all three businesses to ensure a consistent and end to end approach within those businesses and across BTFG.
• Support the Executive and Senior Manager in engaging senior management consistent with the "three lines of defence" model, providing pro-active, reliable and relevant advice to address business needs, manage issues and promote the interests and strategic objectives of BTFG.
• Provide internal stakeholders with practical, commercially-focused risk advice, seeking solutions consistent with the objectives, risk appetite and tolerances and governance framework of BTFG and the broader Westpac Group; and
• Actively seek to improve operating practices and processes to enhance the effectiveness and efficiency of risk management and business discipline both within the Risk Function and across BTFG.
• Demonstrate leadership within the team, driving performance and working collaboratively within BT Risk (one team) and with business colleagues.

In this role your duties will include, but not necessarily be limited to, the following:

Strategy and Risk management

• Focus on the strategy for the Superannuation business and ensure a clear understanding of the value contribution to the strategy and is effective in driving risk thought leadership in successfully achieving strategic objectives.
• Support, guide and advise on the execution of the risk and compliance framework components in a manner which is consistent between the Superannuation, Platform's & Operations and Investments business units, with a specific focus on the Superannuation business.
• Support better practice regarding the risk and compliance framework, including the "three lines of defence" risk assurance model in the Superannuation business. This is achieved through collaboration with Core Risk and Core Compliance.
• Assist in developing and continually refining internal policies, procedures, guidelines and plans to ensure compliance with legal requirements and address issues emerging from reviews or other learnings deriving from experience in the current and emerging regulatory and market environment.
• Forge effective relationships with management in each business unit and functional area across BTFG and the Westpac Group (where appropriate) to facilitate the flow and exchange of information to provide timely and effective communications and enable early identification and management of potential issues.
• Escalate risks, control weaknesses or compliance breaches that remain unmitigated and outside reasonable tolerances.
• Assist with the reporting to management and the relevant Board Committees on the risk profile of the business and / or other significant risk and compliance matters (as relevant and appropriate).
• Support the development and refining of internal policies, processes, systems and procedures to:

- promote "top-down" integration of business and risk management cascading from strategy through business plans, priorities down to activities, processes and controls;
- adopt a full end-to-end approach so controls are understood in the context of business objectives and processes and facilitating the identification of upstream and downstream impacts;
- promote consistency and comparability across divisions wherever appropriate;
- promote business discipline and control;
- enhance robustness and reliability;
- increase efficiency;
- ensure accuracy and compliance with legal and regulatory requirements; and
- promote confidence in senior management.

• Be a key part of a team of high-calibre risk and compliance resources, with a strong understanding of the businesses they support, who provide targeted subject matter expertise, as well as leveraging expertise from other risk teams, and ensure allocation of adequate resources to support priority focus areas, BU and BTFG-wide initiatives and projects.
• Provide advice and guidance to senior management to comply with risk, regulatory, corporate and statutory requirements and to act in an ethical manner.
• Understand and interpret implications of regulatory change for the BU's the role supports.

Delight customers

• Ensure BT's customer principles are well understood by the team and that the risk strategy supports these principles, including meeting our obligations to protect our customers.
• Support a culture where risk/reward decision making considers both the business unit goals and best interests of BTFG and its customers.

People and leadership

• Be a key part of a high-performing risk team that is focused on strategic priorities and is valued by all customers, through clarity of purpose and goal setting, talent selection and development, performance measurement and remuneration review, coaching and training.
• Contribute constructively to BTFG and Westpac risk forums to achieve alignment and identify/share best practice opportunities.
• Contribute to the ongoing development of BT's risk culture primarily through understanding and supporting the right behaviours.
• Support the effective and consistent implementation and execution of the risk management framework.
• Participate, as a member of the BTFG Risk function, in the efficient operation of that function (and initiatives to increase efficiency in the function) in a manner which promotes business discipline, control and the strategy of Westpac, BTFG and the Risk function.
• Support leadership to create and sustain a vision and culture of continuous improvement that inspires achievement, teamwork and integrity.
• Display ethical behaviours and act with integrity to preserve reputation and credibility of the Westpac Group, BTFG and the Risk function.

Culture and behaviours

• Collaborate with Risk team peers to collectively promote a high-performance culture and behaviours within BT Risk, through actively demonstrating behaviours that reinforce collaboration and remove siloed approaches and mentality, encourage accountability and personal responsibility and continuous improvement.
• Collaborate with the CoE's to deliver efficiency in processes and benefits for the BU's.
• Demonstrate behaviours in accordance with WBC corporate values: One Team; Service; Achievement; Integrity; and Courage.


To be successful in this role you will have the following skills, experience, education and/or expertise:

• 6 years financial services industry, preferably with a broad understanding of the wealth management risk and compliance environment with specific emphasis on Superannuation
• Understanding of both business and risk strategy development
• Understanding of wealth product development, marketing and distribution operations, and the nature of their specific risks and compliance obligations
• Intermediate risk and compliance management experience
• Tertiary qualifications in a business related discipline
• Other professional qualifications, for example Chartered Accountancy, Project Management, Internal Audit (desirable)
• Understanding of relevant laws and regulations underpinning the wealth business, including RG146, RG104, RG105, RG165, Privacy laws and Conflicts of Interest

Working with Westpac

Working with us you'll discover new ways of working, and an exciting range of roles to showcase your skills. Think inspiring locations, flexible work spaces and unexpected careers.

Joining Westpac has many perks besides building a long and stable career. You'll be:

• Able to have access to some of the best banking, wealth and insurance benefits in the market
• Offered a highly competitive remuneration that is fair and consistent for all our people
• Entitled to a suite of online learning, training modules and career planning tools to grow with us
• Encouraged to participate in the community through paid volunteer leave and secondments available

Westpac Group is an equal opportunity employer. As part of our commitment to creating a diverse and inclusive workplace, this role is open to experienced candidates seeking a discussion around workplace flexibility. We invite candidates of all ages, people with a disability and Indigenous Australians to apply.
Employment Type:  Full Time
Region/Country:  Oceania, Australia
City:  Sydney CBD

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