Manager of Non-Financial Risk, M&G
Asset Management, Private Markets
Salary not provided
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Senior and Expert level
Edinburgh
London
International savings and investments company
Posted today
International savings and investments company
1001+ employees
B2CB2BEnterpriseInvestingFinancial Services
Posted today
Salary not provided
+ Share Save and our Share Incentive Plan
Senior and Expert level
Edinburgh
London
1001+ employees
B2CB2BEnterpriseInvestingFinancial Services
Company mission
To help people manage and grow their savings and investments, responsibly.
Role
Who you are
- Essential: Professional degree / qualification in non-financial risk management (or equivalent)
- Membership to key external professional bodies (e.g., IOR, IRM, IA, etc.)
- Essential: Robust / deep knowledge of the asset management business and associated risk regulatory and technical requirements
- Essential: Strong / robust knowledge of Private Markets
- General knowledge of team management
What the job involves
- The Manager of Non-Financial Risk in Asset Management, Private Markets is responsible for supporting the Head of Non-Financial Risk to execute the overall vision, strategy and direction of Non-Financial Risk across the Private Markets business area within Asset Management. This role reports to the Head of Non-Financial Risk who ultimately supports the CRO in meeting their non-financial risk responsibilities as an SMF 4
- This role engages and supports all the Private Markets business area globally as directed by the Head of
- This role supports the Head of in engaging the M&G plc Central Non-Financial Risk department to provide meaningful non-financial risk specialist services to the Private Markets business area, such as (but not limited to) 2LOD Data Protection and Privacy, Assurance and Monitoring activities and Third Party specialist expertise
- This role is an experienced business risk partner to the Private Markets business are and is required to engage with mid to senior level stakeholders on priority risk management matters
- Support the Head of in establishing and maintaining a robust Non-Financial Risk Governance model with a core focus on Private Markets
- Support the Head of in designing, implementing and embedding best-in-class risk reports on non-financial risk matters on the Private Markets business area without duplication of risk reports already submitted by 1b / other teams. This includes automation of risk analysis where possible
- Collaborate with Private Markets 1b to design and implement best-in-class risk reports as first line risk responsibilities
- Support the Head of in reviewing, challenging and provision of second line risk opinions (where required for material risk matters) for Private Markets
- Embed within the Private Markets Governance model by attending all core meetings, working groups and committees as a trusted and valued business risk partner
- Support the Head of in the production, establishment and maintenance of all Risk Framework documentation on Non-Financial Risk matters with particular focus on Private Markets. This includes (but not limited to): Risk Management Framework, Risk Appetite Statement, Risk Policies, Risk Taxonomy, Business Standards, Procedural Documentation (whilst business standards and procedural documentation is not necessarily owned in second line, the NFR team oversees the governance of these), RCSA methodology
- Design, implement and embed key mandatory training to support the Private Markets business in conducting its non-financial risk responsibilities
- Support the Head of in the design, implementation and embedding of risk systems in Private Markets (in collaboration with Private Markets 1b teams)
- Support the ICARA process from a 2LOD Private Markets perspective regarding top risk identification / material harms assessments, scenario identification, development, generation and assessment of capital requirements. Whilst 1LOD will conduct the work, be a 2LOD business risk partner in providing insights, reviews and challenges to support these activities
- Embed the Deep Dive and Thematic Review approach taken by the Non-Financial Risk team within Private Markets business area
- Identify the key deep dives, thematic reviews and assurance reviews to be undertaken in the Private Markets business
- Collaborate with internal audit and other assurance / governance teams to follow an Integrated Assurance Review approach– including the identification of pervasive themes in Private Markets
- Review and challenge the results of all deep dives, thematic and assurance reviews undertaken in non-financial risk for the Private Markets business
- Review, challenge and advise on the RCSA setup and design in the Private Markets business
- Monitor, review and challenge the RCSA cycle undertaken by Private Markets first line as a trusted business partner. Provide advisory support where needed
- Conduct monitoring around the Private Markets RCSA cycle to identify key areas of concern, improvements of challenges identified (proactively and reactively)
- Provide risk system support (technical advisory) to the Private Markets business
- Support the Head of in monitoring, reviewing and challenging the incidents management approach taken by the Private Markets business
- Monitor, review and challenge the incidents in the business to identify (i) themes / concentrations of incidents, (ii) cultural / technical improvements, (iii) data quality improvements of cause, event and effect, (iv) quality improvements of remedial actions to prevent reoccurrence and treat customers fairly, (v) improvements in compensable events, (vi) gaps / improvements in engaging with all technical specialists during incident investigations, (vii) reportable events to regulators
- Provide specialist technical advisory support on non-financial risk matters, for example (but not limited to): supplier / third party governance, operational risk, model risk, etc
- Know when to reach out to specific technical specialists in the business to support non-financial risk matters. E.g., supplier / third party risk, cyber risk, data privacy risk, etc
- Support the Head of in providing the RFP / Client due diligence teams for Private Markets products with the appropriate non-financial risk information
- Attend meetings with clients / prospective clients to present the non-financial risk approach
- Support the Head of in managing the day-to-day responsibilities of the team such as workloads, time management, prioritisation of activities
- Support the Head of in growing and developing team careers
Application process
- End Date: May 31, 2026
Our take
Established through a merger with Prudential's UK and Europe operation in 2017, M&G has emerged as a leading savings and investment company. Combining five prominent brands under one umbrella - M&G Real Estate, M&G Investments, Pru, M&G Wealth, and Infracaptial - the company boasts a robust global financial services operation.
M&G's commitment to enhancing its platform's offerings is evident through substantial investments in service and support infrastructure. Innovations such as deep back-office integration, cloud-based customer relationship management tools, and e-signature software underscore the company's dedication to providing top-notch solutions.
Catering to a diverse clientele ranging from individuals to major enterprises, M&G continues to expand its international presence. It reported an impressive £1.8 billion in flows from open business in 2025, and continues to diversify and leverage advancements in AI and Big Data. This approach should help the company maintain its position as a key player in the ever-evolving landscape of savings and investment.
Steph
Company Specialist at Welcome to the Jungle
Insights
3% employee growth in 12 months
Company
Company benefits
- 8% non-contributory pension plus up to 5% matching
- Life Assurance & Death in Service
- Support, feedback and development programmes to help you reach your full potential
- Flexible culture and ways of working
- Focus on health & wellbeing
- 30 days holiday as standard (excluding bank holidays), with the ability to purchase an additional 5 days
- Time off when you need it includes carer's leave, faith leave, grandparent leave and career breaks
- New parents receive up to 26 weeks of full pay while on leave
- 4-week back-to-work transition for new parents: work 80% of your contractual hours, be paid for 100%
- New parents can take family leave in flexible blocks within the first year of birth/adaoption
Company HQ
City of London, London, UK
Leadership
Andrea Rossi
(Group CEO)Co-Founder & Director at REsustain. Former CEO of AXA, and was an FC Girondins de Bordeaux Board Member.
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