Head of Group Risk & Internal Control

Job Description

Role : Head of Group Risk & Internal Control

Duration : Full Time – 40 hours per week (09:00 to 18:00)

Department : Risk, Regulation and Governance & Controls

Reports to : Executive Managing Director, Risk, Regulation and Governance & Controls

Location: London – Onsite (4 days per week in the office; WFH on Tuesdays, Wednesdays, or Thursdays)

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ROLE PURPOSE

MNK Group is seeking a senior, technically strong Head of Group Risk & Internal Control to lead the design, implementation, and embedding of a robust Group-wide Internal Control Framework (ICF) across its international (re)insurance business.

This is a critical second-line leadership role with full accountability for ensuring that risks are identified, assessed, controlled, monitored, and reported in a consistent, effective, and proportionate manner. The role holder will act as the Group’s subject matter expert on operational risk and internal controls, with a strong focus on practical implementation, first-line ownership, and capability uplift.

The role combines strategic oversight with hands-on technical delivery, requiring deep experience in internal control frameworks, control design, roll-out programmes, training delivery, and regulatory engagement.

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KEY ACCOUNTABILITIES

Enterprise Risk Management Framework (ERMF)

• Own and continuously enhance the Group Enterprise Risk Management Framework, ensuring alignment with business strategy, regulatory expectations, and best practice.

• Lead the end-to-end Risk and Control Self-Assessment (RCSA) process, ensuring strong linkage between risks, controls, incidents, KRIs, and risk appetite.

• Provide effective second-line challenge to the first line, ensuring risks are appropriately identified, assessed, and mitigated.

• Oversee risk incident management, including root cause analysis, thematic reviews, and embedding lessons learned into control enhancements.

• Design and maintain the Group emerging risk framework, including horizon scanning, external research, and senior management reporting.

• Lead stress testing and scenario analysis to support strategic decision-making and risk appetite monitoring.

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Internal Control Framework (ICF)

• Design, implement, and maintain a comprehensive Group Internal Control Framework aligned to regulatory expectations and industry standards (e.g. COSO or equivalent).

• Define and maintain control standards, control taxonomies, documentation requirements, and minimum control expectations.

• Lead the roll-out and embedding of the ICF across all business units, functions, and jurisdictions.

• Ensure controls are clearly articulated, risk-aligned, appropriately designed, and operationally effective.

• Establish and oversee control design and operating effectiveness testing methodologies.

• Drive remediation of control deficiencies, ensuring timely closure and sustainable improvements.

• Act as the Group technical authority on internal controls, advising senior stakeholders on control design and operational risk matters.

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Governance, Risk & Compliance (GRC) Systems

• Own the configuration and ongoing enhancement of the Group GRC system.

• Ensure full integration of ERMF and ICF components within the GRC tool, including RCSAs, control testing, incidents, KRIs, and action tracking.

• Drive first-line and second-line adoption of the GRC system through training, guidance, and ongoing support.

• Ensure data quality, consistency, and integrity across all risk and control reporting.

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Training, Awareness & Culture

• Design and deliver structured training programmes on internal controls, RCSA methodology, and operational risk management.

• Develop detailed guidance materials, playbooks, control design standards, and training content.

• Lead workshops and deep-dive sessions to support ICF roll-out, regulatory change, and control uplift initiatives.

• Embed a strong risk and control culture by building capability and accountability across the Group.

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Governance, MI & Reporting

• Prepare high-quality MI and reporting for Boards, Committees, and Senior Management.

• Maintain the Group risk and control governance calendar and ensure effective tracking of actions.

• Support Board and Committee education on risk and internal control matters.

• Contribute to wider governance initiatives, including Operational Resilience and Business Continuity Planning.

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Regulatory & External Engagement

• Monitor regulatory developments across relevant jurisdictions (PRA, FCA, and overseas regulators).

• Assess and communicate regulatory impacts to senior stakeholders.

• Support regulatory interactions, reviews, and audits relating to risk management and internal controls.

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People & Leadership

• Act as a senior leader within the Risk, Regulation and Governance function.

• Mentor and develop junior risk team members.

• Build strong, trusted relationships with first-line and executive stakeholders.

• Promote collaboration and continuous improvement across the Group.

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QUALIFICATIONS, SKILLS & EXPERIENCE

Essential:

• 10+ years’ experience in risk management and internal controls within regulated financial services or (re)insurance.

• Demonstrable hands-on experience designing, implementing, and embedding Internal Control Frameworks.

• Strong technical knowledge of operational risk and control best practice.

• Experience leading large-scale ICF roll-outs and training programmes.

• Excellent stakeholder management and influencing skills.

Desirable:

• Professional qualifications such as ACII, IRM, or equivalent.

• Experience engaging with regulators on risk and control matters.

• Hands-on experience with GRC systems.

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PERSONAL ATTRIBUTES

• Highly organised, proactive, and delivery focused.

• Technically credible and confident acting as a subject matter expert.

• Strong attention to detail with strategic perspective.

• Commercially aware and pragmatic.

• Resilient and adaptable in a fast-paced environment.