Head of Pension & Retirement Risk Oversight
| Posting date: | 12 January 2026 |
|---|---|
| Salary: | £117,000 to £137,000 per year |
| Hours: | Full time |
| Closing date: | 25 January 2026 |
| Location: | Edinburgh, Edinburgh, EH3 9BS |
| Remote working: | Hybrid - work remotely up to 3 days per week |
| Company: | Lloyds Banking Group |
| Job type: | Permanent |
| Job reference: | 149865_1768172759 |
Summary
JOB TITLE: Head of Pension & Retirement Risk Oversight
SALARY: £117,000 - £137,000
LOCATION(S): Edinburgh, Bristol, Cardiff, Leeds, Newport
HOURS: Full-time
WORKING PATTERN: Our work style is hybrid, which involves spending at least two days per week, or 40% of our time, at one of our office sites
About this opportunity
At an exciting time of growth within the Insurance, Pensions & Investments (IP&I) business in LBG coupled with a fast-evolving risk environment, we have a newly created role of Head of Pension & Retirement Risk Oversight.
This role will provide a key partnership for the Managing Director of Pensions & Retirement, reporting directly into the Chief Risk Officer for Insurance. The Head of Pension & Retirement Risk Oversight is responsible for providing comprehensive 2nd line of defence support, discharged through a virtual teams model to the Pension & Retirement business within IP&I.
The role holder applies a strong understanding of the management of all risk types within the Pensions & Retirements business and will be responsible for relevant second line of defence oversight, support and guidance of this part of our business.
The Insurance, Pensions and Investment Business helps personal and business customers with their long-term protection, retirement and investment needs. We support over 10 million customers with assets under administration of more than £200 billion and hold a top three market share position across our chosen strategy areas of Home, Workplace and Individual Annuities businesses. We operate through several brands which include Scottish Widows (life, pensions and investments), Halifax, Bank of Scotland and Lloyds Bank (Home, Pet and Motor insurance) and Cavendish Online.
Day to day, you will:
In your capacity as the Head of Pension & Retirement Risk Oversight, you will have responsibility for the oversight of the overall monitoring and management of risk of this part of our business.
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Lead and support oversight of the entire Pensions & Retirements product lifecycle, from product development to pricing and distribution, through to financial analysis and customer outcomes.
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Contribute to papers produced by the business for executive committee or board reporting, and provide 2LOD risk opinions, collaborating closely with colleagues in the broader Risk function.
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Support business growth and help them deliver and operate their customer propositions safely and within the risk framework and risk appetite.
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Contribute to broader strategy planning and business decision-making ensuring both quantitative (financial) and qualitative (non-financial) risks are sufficiently considered, assessed and reported to senior management.
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Provide forward looking risk opinions and thought leadership on material projects, initiatives and product development as required.
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Work closely with the Chief Risk Officer Insurance, the IP&I Risk leadership team, IP&I Executive, Insurance Board, and other senior colleagues in delivery of this role.
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Act as the single point of contact for proposition / business leads to provide subject matter and technical support through own and virtual teams knowledge.
Why Lloyds Banking Group
Like the modern Britain we serve, we're evolving. Investing billions in our people, data and tech to transform the way we meet the ever-changing needs of our 26 million customers. We're growing with purpose. Join us on our journey and you will too
What you'll need:
We'll be looking for these skills and experiences. But we know careers, like life, don't always go in a straight line. So, if you don't have some of these but think you've got what it takes, get in touch.
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Create and motivate high performing virtual teams with a clear purpose that apply a diverse set of skills and perspectives to achieve common objectives.
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Ability to demonstrate an understanding of the Group and IP&I's products and services offering, the market in which our business operates, its competitive landscape and With Profits propositions.
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Knowledge of investment strategy for individual annuities and an appreciation of the challenges faced would be advantageous.
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Strong knowledge of all aspects of risk management (strategic, insurance, market, liquidity, operational and regulatory/ legal), with experience gained within a large financial services organisation, including management of regulatory and relevant risk management frameworks.
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Knowledge of industry standards, legislation, practice and regulation relating to risk management applicable to insurance.
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A focus on finding solutions with strong leadership and courage to test new ways of working.
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Excellent communicator, both written and verbal, able to build positive relationships at all levels and adapt messaging for a range of different audiences.
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Excellent leadership, interpersonal, analytical, and problem-solving skills.
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Strategic leadership and thinking - with the ability to think laterally, look ahead to future possibilities, be innovative and find creative solutions.
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Recognise and deliver the changing skills required for the Risk function of the future and adequately upskill and build a virtual team of Risk professionals. Promoting AI and innovation to deliver success.
About working for us
Our focus is to ensure we're inclusive every day, building an organisation that reflects modern society and celebrates diversity in all its forms. We want our people to feel that they belong and can be their best, regardless of background, identity or culture. We were one of the first major organisations to set goals on diversity in senior roles, create a menopause health package, and a dedicated Working with Cancer initiative. And it's why we especially welcome applications from under-represented groups. We're disability confident. So if you'd like reasonable adjustments to be made to our recruitment processes, just let us know
We also offer a wide-ranging benefits package, which includes:
* A generous pension contribution of up to 15%
* An annual performance-related bonus
* Share schemes including free shares
* Benefits you can adapt to your lifestyle, such as discounted shopping
* 30 days' holiday, with bank holidays on top
* A range of wellbeing initiatives and generous parental leave policies
Want to do amazing work, that's interesting and makes a difference to millions of people? Join our journey.
Proud member of the Disability Confident employer scheme