End Date
Thursday 27 February 2025
Salary Range
£0 - £0
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Job Description Summary
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Job Description
Job title: Operations Manager
Location: Luxembourg
Grade: Band E
About Scottish Widows Europe:
Scottish Widows Europe (“SWE”), a subsidiary of Scottish Widows L.P., was established in Luxembourg to ensure continuity of servicing for its existing EU business after the UK’s exit from the EU, and is authorized to conduct life insurance business in Europe.
The portfolio of SWE is largely represented by with-profit policies (but also includes unit-linked policies), originally sold through the Clerical Medical Brand. The portfolio has c.€2 billion assets, with approximately 50,000 policy holders. Since March 2019, the business has been run from Luxembourg, and via its German branch. SWE relies on outsourcers to provide policyholder service and administration.
SWE is part of Scottish Widows, a 100% subsidiary of Lloyds Banking Group (“LBG”) and a strong life and pension company in the UK. Its product range includes life assurance, pensions, investments and savings. The company has been providing financial services to the UK market since 1815. The company sells products through independent financial advisers, direct to customers and through LBG bank branches. Scottish Widows employs around 3,000 people.
LBG is a leading UK based financial services group providing a wide range of banking and financial services, passionate about personal and commercial customers. The main business activities are retail, commercial and corporate banking, general insurance, and life, pensions and investment provision. Services are offered through well-recognized brands including Lloyds Bank, Halifax, Bank of Scotland, and Scottish Widows, and a range of distribution channels.
About this opportunity:
We have an outstanding opportunity for you to join SWE, a diverse and inclusive team based in Luxembourg, and to work in an international and informal environment.
As an SWE Operations Manager, you’ll be part the Luxembourg SWE Operations Team, and reporting to the Head of Operations. You'll be responsible to review and improve existing processes, compliance and quality control, as well as problem solving to align daily activities with long term goals. You'll also be supporting the organisation in building and maintaining ICT reporting as well as running the specific IT applications.
What you’ll be doing:
- Act as Deputy and provide direct support to the Head of Operations in executing strategic initiatives and running daily tasks. Assisting running daily operational activities to ensure efficiency and quality standards are met. You're a liaison between the Head of Operations and other departments.
- Validate and raise issues related to AML compliance and operations. Utilising your Anti-Money Laundering (AML) experience to identify and mitigate risks.
- Coordinate with outsourced service providers and Business Process Outsourcing (BPO) teams to ensure flawless operations and client service. Supervise the performance of outsourced services (internal and external) and address any issues promptly with the Supplier management team. Supervise and report on ICT performance and key metrics including incident management. Address operational issues in an effective and professional manner.
- Utilise data and analytics to generate regular reports for MC/Board on Customer and Conduct behaviours.
- Review and update operational policies for SWE, ensuring that team is aligned with customer needs and expectations and identify and address potential issues.
- Support Second and third lines of defence including Audit controls. Support the organisation in management of IT systems, applications, networks and data fostering a collaborative culture.
What you’ll need:
- Strong background in Operations in the insurance sector in Luxembourg with excellent knowledge and understanding of AML and first line of defence risks.
- Excellent command of English, both written and spoken. German and/or Italian are a strong asset for understanding client documentation, while knowledge of French could help with integration in the team
- ICT knowhow (including experience with ICT reporting, implementation of applications, networks and data management) would be a strong asset
- Ability to understand and anticipate the broader impact of operational decisions on the company’s strategic objectives
- Phenomenal communicator, able to build connections and relationships in a highly diverse international environment. Open minded, able to demonstrate key behavioural capabilities including teamwork, ownership, agility, proactivity and innovation with a growth mindset.
- Demonstrate strong influencing skills with a track record of creating and maintaining effective relationships with colleagues from different departments, entities and cultures. Creative problem solver, keen to suggest new insights and implement pragmatic and workable solutions
We're dedicated to giving you opportunities and support to develop you both expertly and personally as well as to optimise and increase your potential.
We also offer a wide-ranging benefits package, which includes:
- A discretionary performance related bonus
- Cash allowance to reflect lunch vouchers and private medical contributions
- Pension scheme
- Annual and special leave according to the collective labour agreement of the insurance sector
At Lloyds Banking Group, we're driven by a clear purpose; to help Britain prosper. Across the Group, our colleagues are focused on making a difference to customers, businesses and communities. With us you'll have a key role to play in shaping the financial services of the future, whilst the scale and reach of our Group means you'll have many opportunities to learn, grow and develop.
We keep your data safe. So, we'll only ever ask you to provide confidential or sensitive information once you have formally been invited along to an interview or accepted a verbal offer to join us which is when we run our background checks. We'll always explain what we need and why, with any request coming from a trusted Lloyds Banking Group person.
We're focused on creating a values-led culture and are committed to building a workforce which reflects the diversity of the customers and communities we serve. Together we’re building a truly inclusive workplace where all of our colleagues have the opportunity to make a real difference.
