Non Financial Risk Manager - Private Markets
Standard Life plc
Salary undisclosed
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Description
Job Type: Permanent
Location: This role could be based in either our London, Birmingham, or Edinburgh offices with time spent working in the office and at home.
Flexible working: All roles are open to part-time, job-share and other types of flexibility. We will discuss what is important to you and balancing this with business requirements during the recruitment process. You can read more about flexible working here.
Closing Date: 22nd October
Salary and benefits: Up to £80,000 dependent upon experience, plus indicative bonus range of 16-32%, private medical cover, 38 days annual leave, excellent pension, 12x salary life assurance, career breaks, income protection, 3x volunteering days and much more.
Who are we?
We’re Standard Life, a retirement specialist focused entirely on retirement savings and income. We champion the belief that everyone’s journey to and through retirement can be better, and for more than 200 years, we’ve been helping our customers plan and prepare for their financial futures.
Life today is increasingly complicated, uncertain and unpredictable. People move through different careers, face unexpected moments and navigate important choices. We offer our colleagues flexibility, trust and benefits that work for whatever life brings. In return we expect curiosity, connection, accountability and high standards. We make room for what matters - so you can bring your best, every day.
The role
The Non-Financial Risk Manager will provide 2nd Line of Defence (2LoD) oversight of operational risks arising from the capital market areas, including Private Markets. The role will ensure risks are effectively identified, assessed, monitored, and managed, with a focus on supporting shareholder outcomes, maintaining regulatory compliance, and ensuring robust risk governance across the end-to-end product and servicing lifecycle.
The role is critical to promote informed decision making and controlled risk-taking that improves customer outcomes and delivers long term value for shareholders. Supporting the implementation and oversight of the Group’s Risk Management Framework and partner with the Senior business stakeholders including RSAM ExCo -1 members.
The role will work closely with the Head of Operational Risk, you will help embed a robust Risk Management Framework, providing independent oversight and challenge across key business activities to ensure risks are effectively identified, assessed, managed and reported.
- Provide independent second line oversight and challenge of operational risks and controls across policyholder and Private Markets activities.
- Review and challenge risk assessments, key risk indicators, control testing results and emerging risk themes.
- Assess the effectiveness of first line risk management frameworks, controls and mitigation activities.
- Support risk reviews of new products, business initiatives, operational changes and strategic projects.
- Partner with stakeholders across Origination, Portfolio Management, Asset Management, Operations to provide practical risk guidance.
- Support governance reporting, committee papers and senior management insights.
- Promote a strong risk culture and ensure material risks and issues are appropriately escalated and managed.
- Contribute to regulatory, governance and transformation initiatives across the business.
About You
Experience in Operational Risk, Non-Financial Risk, Internal Controls, Audit or a related discipline.
Experience providing risk oversight within Private Markets, Private Credit, Infrastructure, Commercial Real Estate, Alternatives or Investment Management environments.
Strong understanding of risks associated with illiquid assets, valuation processes, investment governance, delegated authority frameworks, third-party managers and operational execution across the investment lifecycle.
Knowledge of the regulatory and governance expectations applicable to asset management and retirement savings businesses.
Strong analytical and problem-solving skills, with the ability to identify emerging risks and recommend practical solutions.
Working knowledge of Private Markets, Private Credit, Infrastructure, Commercial Real Estate or Alternative Assets.
We want to hire the whole version of you.
We are committed to ensuring that everyone feels accepted and welcome applicants from all backgrounds. If your experience looks different from what we’ve advertised and you believe that you can bring value to the role, we’d love to hear from you.
If you require any adjustments to the recruitment process, please let us know so we can help you to be at your best.
We’re reviewing applications as they come in and may close this role before the closing date, so apply early to avoid missing out.
Find out more about working at Standard Life
Guide for Candidates: standardlifeplc.pagetiger.com/guideforcandidates
Find or get answers from our colleagues: www.standardlifeplc.com/careers/talk-to-us
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About this role
Standard Life is seeking a Non-Financial Risk Manager to provide independent second-line oversight of operational risks in its Private Markets business. You would work closely with the Head of Operational Risk to embed and monitor the Group's Risk Management Framework, reviewing how well first-line teams identify, assess, and control risks across the investment lifecycle. The role involves challenging risk assessments and control testing, supporting reviews of new products and strategic initiatives, and escalating material issues to senior stakeholders and governance committees.
This position suits someone with experience in operational risk, internal audit, or a related discipline, ideally gained in Private Markets, Private Credit, Infrastructure, or similar alternative asset environments. You should understand the specific risks of illiquid assets—valuation, investment governance, delegated authority, third-party manager oversight—and the regulatory landscape for asset management and retirement businesses. Strong analytical skills and the ability to translate risk findings into practical guidance for business partners are essential.
The role is permanent and part-time, based in London, Birmingham, or Edinburgh with flexible working arrangements. Compensation is up to £80,000 plus a bonus of 16–32%, along with private medical cover, 38 days annual leave, pension, life assurance, and other benefits. Standard Life values curiosity, accountability, and high standards, and actively welcomes candidates whose backgrounds differ from the advertised profile.
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