Director, Intra-Group Outsourcing Governance

At M&G, our purpose is to give everyone real confidence to put their money to work. With a heritage dating back more than 175 years, we have a long history of innovation in savings and investments, combining asset management and insurance expertise to offer a wide range of solutions.

Our two distinct operating segments, Asset Management and Life, work together to provide access to balanced, long-term investment and savings solutions.

Through telling it like it is, owning it now and moving it forward together with care and integrity; we are creating an exceptional place to work for exceptional talent.

We will consider flexible working arrangements for any of our roles and offer workplace adjustments to ensure you have the support you need to succeed in your role.

Lead the integration of Financial Crime requirements into M&G’s central Third Party Risk Management (TPRM) framework and the development of an internal outsourcing risk management and governance framework.

Accountable for directing delivery of both workstreams through a dedicated transformation team, supported by relevant business owners and control function specialists. The Director will set direction, allocate responsibilities, oversee delivery quality and progress, resolve escalations and secure senior stakeholder decisions. Detailed analysis, design, documentation and implementation will be delivered by the team, with specialist content owned and validated by the relevant control functions.

The role will oversee the translation of regulatory, policy and control requirements into practical standards, assessment methodologies, processes and governance. Working across business divisions, legal entities and control functions, the Director will establish clear accountability and deliver consistent, proportionate oversight of external service providers and intragroup outsourcing arrangements.

Key responsibilities

Financial Crime integration

* Direct the team’s design and delivery of Financial Crime integration across the third-party lifecycle, from initial risk assessment and due diligence through contracting, ongoing monitoring, material change and exit.

* Partner with Financial Crime specialists to secure their definition and validation of requirements covering money laundering, terrorist financing, sanctions, bribery and corruption, fraud and tax evasion facilitation, where relevant to the service and relationship.

* Direct the development of inherent risk questions and assessment criteria that identify financial crime exposure arising from third-party services, activities, jurisdictions, customer interactions and subcontracting arrangements, with content validated by Financial Crime specialists.

* Oversee and secure specialist agreement on risk-based thresholds for specialist review, enhanced due diligence, approval and escalation, ensuring clear ownership of decisions and risk acceptance.

* Direct the team’s coordination of control requirements, supporting evidence and residual risk assessment criteria, distinguishing controls performed by M&G from those expected of service providers.

* Oversee the team’s integration of agreed requirements into central TPRM standards, workflows, tooling, contractual requirements and management information.

* Direct the development of ongoing monitoring and reassessment requirements, including triggers arising from incidents, adverse information, changes in ownership or changes to the services provided.

Internal outsourcing framework and governance

* Direct the team’s development and implementation of an end-to-end internal outsourcing risk management framework covering services delivered between M&G Group entities.

* Oversee the definition of scope, classification and materiality assessment of intragroup arrangements, including criteria for identifying outsourcing and critical or important services.

* Partner with Compliance and Legal to oversee the establishment of an inventory of applicable regulatory requirements and their translation into Group standards and entity-specific requirements.

* Direct the development of a proportionate assessment methodology that recognises common Group controls while addressing the obligations, exposures and accountability of individual receiving entities.

* Oversee the team’s coordination and documentation of requirements for due diligence, service agreements, service levels, performance oversight, control assurance, operational resilience, subcontracting, continuity and exit planning.

* Secure agreement on responsibilities for service providers, receiving entities, service owners and control functions, including decision rights, approval authorities and escalation routes.

* Direct the establishment of governance forums and reporting that provide effective review, challenge and oversight of intragroup service performance, risk exposures, control weaknesses and remediation.

* Oversee integration of the internal outsourcing framework with central TPRM processes and the wider risk and control framework, reducing duplication while preserving clear entity-level accountability.

Leadership and delivery

* Lead the transformation team, agreeing resource requirements, assigning delivery ownership and managing capacity, dependencies and performance against the respective transformation plans.

* Lead coordination and requirements definition across Financial Crime, Compliance, Data Privacy, Cybersecurity, Operational Resiliency, Legal and other relevant control functions.

* Secure executive sponsorship and agreement on scope, priorities, resources and delivery outcomes.

* Direct multidisciplinary working groups, resolve competing requirements and drive decisions across complex organisational structures.

* Oversee the development and maintenance of delivery plans, governance and reporting, with clear milestones, dependencies, risks and accountable owners.

* Oversee gap analysis, remediation and implementation, ensuring that framework requirements are supported by operational processes, training and sustainable ownership.

* Present recommendations, delivery progress and material risk issues to senior executives and relevant governance committees.

* Direct the development of the operating model and secure agreement on transition arrangements required to embed both workstreams into business-as-usual ownership.

Experience and capabilities

* Senior leadership experience in third-party risk management, outsourcing governance or risk transformation within a complex financial services organisation.

* Demonstrable experience directing teams to design and implement risk frameworks, assessment methodologies, control requirements and governance.

* Experience integrating specialist control function requirements into a central third-party risk framework.

* Expertise in translating Financial Crime specialist input into practical requirements, assessment methodologies, controls and governance within a central third-party risk management framework.

* Experience developing intragroup outsourcing frameworks and addressing the responsibilities of both service-providing and service-receiving entities.

* Ability to translate regulatory and policy requirements into practical processes, clear accountability and effective management information.

* Proven ability to influence senior stakeholders, lead cross-functional delivery and resolve competing business and control requirements.

* Strong judgement, clear communication and experience presenting complex risk matters to executive audiences.

Measures of success

* Financial Crime requirements are consistently embedded within central TPRM assessments, workflows and oversight.

* Higher-risk relationships are identified and subject to appropriate specialist review, controls and escalation.

* Internal outsourcing arrangements operate within an agreed framework with clear ownership, governance and entity-level accountability.

* Both frameworks are implemented and embed