Director - Head of Risk

• Responsibilities Head of PGS Risk Management - Risk Management Director About Principal: understand who we are With more than 19,000 employees worldwide, Principal helps people and companies in Asia, Australia, Europe, Latin America, and North America build and protect their financial well-being
• We ve been doing this for 143 years
• A FORTUNE 500 company, we re known for our innovative ideas and real-life solutions that help customers make financial progress, no matter their income or portfolio size
• Principal Global Services (PGS) is the global business services (GBS) for Principal Financial Group with offices present in India and Philippines and 3000+ employees
• For more information, visit www
• principal
• com Follow us on Xcorp (previously Twitter), Facebook, LinkedIn, and YouTube
• Job Purpose As a second line risk leader, provide overall strategic leadership, partnership, and accountability to align,implement, support, and oversee the development and implementation of the risk management frameworks and practices within the Principal Global Services (PGS) organization, aligning with PFG s Enterprise Risk Management (ERM) framework, policies, standards, applicable regulations, and programs
• Lead a team of risk professionals and partner with the first line to ensure a robust risk culture is embedded throughout the organization
• This includes maturing the delineation of 1st and 2nd line responsibilities within the risk management life cycle and strengthening proactive management and governance of all key risks across the PGS locations in India and Manila Philippines
• This role will work in partnership with the SCBU (Service Center Business Units) CRO (Chief Risk Officer) and PGS leaders, to thoughtfully plan, strategically lead, implement, and oversee the maturity of risk management practices within Principal Global Services (PGS) strategic planning, decision making, and operational execution
• In addition, will partner with the SCBU and BU (Business Unit) CROs and PGS leaders, to support the alignment and maturity of functional and business specific risk management activities within operations and in line with each SCBU/BU objectives, priorities, and risk frameworks
• Essential responsibilities Strategy & Vision: Design and implement strategic vision and plans to advance risk management within PGS
• Deliver strategic risk advice to support enterprise and business strategies and objectives, leveraging advanced expertise in evaluating and understanding complex risks and the impact on strategic objectives
• Deliver risk management solutions that are long term, large scale and require vision, creativity, and innovation
• Develop and maintain close partnership, trust, and credibility with PGS business units (BU) and SCBU functional area leaders to develop the risk profile and establish standards to assess, monitor, report, and oversee the risk profile
• Consulting: Provide proactive, insightful analysis and interpretation of risks to the first line based on robust knowledge of the operations and a deep and broad external market view on current best practice
• Lead and provide objective oversight and challenge of first line day-to-day risk management activities, process changes, risk assessments, risk measurements, and reporting
• Advise and assist PGS with the evaluation of their uncertainties and existing processes using a high level of knowledge of risks to appropriately direct activities to address any control gaps
• Lead team and conduct prioritized, independent monitoring and assessment of risk and control identification and effectiveness
• May assist in the facilitation of 1st line risk assessments as part of the risk maturity and in alignment with BU and SCBU risk priorities
• Implement and monitor ERM standards for risk management in PGS
• Reporting & Communication: Provide metrics and reporting in highly complex situations requiring solid understanding of PGS, the business units (BUs), and SCBU functionals areas within the operations
• Evaluate cross-program and cross-business unit analytics to identify opportunities and best practices to influence stronger risk management
• Maintain open communication with the SCBU CRO, Enterprise Risk Management leadership team, BU CRO teams, and Sr
• PGS leadership, escalating issues as appropriate
• Work with first line process owners to develop and evolve day to day risk management metrics which quantify exposure to various types of risk
• Consolidate, evaluate, and analyze first line data to provide a holistic view of the PGS risk profile that drives risk mitigation actions and strategies Programs & Capabilities: Lead and manage a risk management team responsible for the development, maintenance, execution, and continual improvement of PGS and enterprise level risk management frameworks, programs, and services
• Drive a risk aware culture by promoting risk management accountabilities to identify, assess, control, measure, and report risks, at all levels of the organization
• Leverage strong influence with business senior management, compliance, internal audit, information security risk, and members of the Enterprise Risk Management team, to ensure timely completion of risk related deliverables, issue resolution, implementation of action plans, and to ensure appropriate risk response
• Governance & Oversight: Oversee how PGS adheres to the PFG Enterprise Risk Management Framework
• Contribute to the development of processes and controls to manage risks, monitor the effectiveness of the control environment, and address deficiencies
• Apply critical thinking and provide thought leadership and guidance through risk engagement with key stakeholders across the three lines
• Anticipate, assess, and communicate emerging risks that may impact the organization
• Organize, maintain, and facilitate the PGS risk council and other risk governance forums to identify, report, escalate, and address risk issues
• Qualifications Leadership at Principal As a leader at Principal, you re responsible for activating our strategy, meeting evolving customer needs, and creating an inclusive culture
• Our Leadership Expectations are our guide to the standards expected from all our leaders
• Our leaders need to be positive brand ambassadors of our core values and purpose
• They need to understand our code of conduct and know the responsibility to comply
• They stay respectful of diversity and differences and work towards building inclusive teams and partnerships

Qualifications

• Bachelors degree or equivalent plus 15+ years of direct work experience in risk management, compliance, legal audit and/or related work experience is required Previous leadership experience including people management is required Industry experience and knowledge of advanced concepts in risk analysis including prior experience with risk tools (risk assessments, key risk indicators, loss/event database or incident tracking, unexpected loss modeling) is strongly preferred Must have proven experience in a second line enterprise risk management capacity building, leading, strategically implementing, and executing risk management and control frameworks, including risk assessments, key risk indicators, control reviews, root cause analysis, issue management, and risk mitigation strategies and other risk programs Must have proven experience in supporting and developing the first line risk management capability, including first line control frameworks and/or RCSAs or its equivalents Proven skills to take initiatives from strategy to execution Deep understanding of financial service products, laws and regulations, back-office operations and risk systems, previous experience in financial services organizations is required Deep understanding and experience with technology, operational, financial, and strategic risks Must have proven and strong abilities and skills in the areas of written and verbal communication at an executive level, presentations, attention to detail, curiosity, strategic planning, critical thinking, analytical, problem solving, decision making, consulting, influencing, and relationship building skills Must have experience in leading risk governance routines (councils, committees, forums) Demonstrated ability to efficiently and effectively work independently and within a collaborative team environment, establish and maintain effective working relationships at all levels, take initiative, resolve conflict, and strategically plan and prioritize multiple strategies and tasks Demonstrated ability to establish and maintain effective working relationships at all levels of the organization and to influence and convey complex information both orally and in writing Additional Information Reporting relationship This job reports to: Direct reporting to the SCBU CRO, and dotted line to the Head of PGS Direct reports: currently 2 direct reports