Assistant Manager, Controls Framework & RCSA (1LOD Risk Management)

FTSE Russell | Assistant Manager | Location: London / Hybrid

Role Purpose

FTSE Russell is seeking an experienced, analytical and controls-focused Senior Associate, Controls Framework & RCSA to support the design, implementation, operation and continuous improvement of the first-line Controls Framework and Risk & Control Self-Assessment programme across the global business!

This role sits within the FTSE Russell Regulatory, Risk & Controls function and acts as a key subject matter specialist for control management, control quality, control lifecycle discipline and RCSA execution. The role will support the ongoing uplift of FTSE Russell’s controls environment by helping to ensure that controls are clearly defined, consistently documented, appropriately owned, linked to relevant risks and processes, and capable of supporting effective risk management, assurance, issue management and regulatory scrutiny.

Working closely with Product, Operations, Engineering, Corporate Functions, Risk & Control colleagues, control owners, process owners and governance stakeholders, the Senior Associate will support controls rationalisation, process-risk-control mapping, RCSA workshops, quality assurance reviews, control framework documentation and management information. The role will provide practical guidance and constructive challenge to stakeholders to improve control design, control documentation, assessment quality and evidence standards.

The role requires someone who can operate with a good degree of independence, interpret complex risk and control information, facilitate cross-functional discussions, identify themes and control gaps, and translate findings into clear recommendations and improvement actions. It is well suited to someone with experience in operational risk, controls, audit, governance, compliance or assurance who is looking to deepen their expertise in first-line controls and RCSA within a regulated financial services and market infrastructure business.

Key Responsibilities

Controls Framework Execution

• Support the implementation, operation and ongoing enhancement of the FTSE Russell Controls Framework.

• Assist with the development and maintenance of control standards, methodologies, guidance, templates and supporting procedures.

• Promote consistent control documentation and ownership across FTSE Russell, ensuring controls are described in a clear, measurable and testable way.

• Support governance activities relating to control design, control lifecycle management, control ownership and control evidence standards.

• Help ensure controls are aligned to LSEG requirements, FTSE Russell procedures and applicable regulatory expectations.

• Provide practical support and guidance to control owners and business stakeholders on control documentation, control objectives, frequency, evidence and ownership.

• Maintain framework documentation and supporting materials, ensuring they remain current, accessible and aligned to operating model requirements.

• Support the embedding of framework requirements across business areas through workshops, guidance sessions and stakeholder follow-up.

Controls Rationalisation and Uplift

• Support controls inventory reviews and classification exercises to improve the quality, completeness and sustainability of the controls population.

• Conduct detailed analysis of control records to identify duplicates, overlaps, obsolete controls, non-control activities, unclear ownership and inconsistent documentation.

• Assist with control rationalisation and redesign activities, helping to determine which controls should be retained, enhanced, consolidated or retired.

• Review controls against established standards and challenge deficiencies in control objective, design, execution, evidence requirements or ownership.

• Support the implementation of improvements to control design, frequency, accountability, evidence standards and lifecycle governance.

• Track control uplift actions, dependencies, due dates and remediation progress, escalating delivery risks or unresolved issues where appropriate.

• Support comparison of controls across functions, products or processes to identify opportunities for standardisation and better alignment.

• Help ensure the control inventory remains accurate, complete, risk-aligned and capable of supporting assurance, RCSA and management reporting.

Process, Risk and Control Mapping

• Support mapping of controls to business processes, process risks, operational risks and relevant control objectives.

• Assist with the development and maintenance of process, risk and control inventories, ensuring clear linkage between risk drivers, controls and outcomes.

• Help ensure controls are aligned to the agreed FTSE Russell risk and process architecture and are positioned at the right point in the process.

• Support integration of control data into RCSA, incident review, issue management, audit response and root cause analysis activities.

• Identify opportunities to improve risk and control coverage, including areas of duplication, control weakness, under-control or unclear ownership.

• Work with business and functional stakeholders to clarify process steps, risk points, control activities and evidence requirements.

• Support the development of a more coherent control lifecycle by linking controls to risks, processes, issues, incidents, assurance outcomes and remediation activity.

RCSA Coordination and Quality Review

• Coordinate periodic RCSA activities across business functions, supporting planning, preparation, execution, review and follow-up.

• Facilitate risk and control assessment workshops, helping stakeholders identify key risks, assess control effectiveness and agree appropriate actions.

• Review RCSA submissions for quality, completeness, consistency and evidence-based rationale.

• Constructively challenge risk ratings, control effectiveness assessments, action plans and supporting commentary where information is unclear, inconsistent or unsupported.

• Monitor completion of RCSA actions and remediation plans, tracking ownership, due dates, dependencies and delivery status.

• Support the translation of RCSA outcomes into issue creation, control uplift, process improvement or targeted remediation where required.

• Help ensure RCSA outputs are aligned to underlying incidents, issues, control performance, audit findings and operational risk themes.

• Support continuous improvement of the RCSA methodology, cadence, templates, guidance and data quality standards.

Reporting, Analytics and Management Information

• Produce and support controls and RCSA management information for governance forums, working groups, senior management updates and committee reporting.

• Analyse trends relating to control effectiveness, assessment outcomes, incidents, issues, audit findings, remediation activity and control inventory quality.

• Support preparation of governance committee and executive reporting, ensuring outputs are accurate, clear, evidence-based and action-oriented.

• Monitor key performance indicators relating to control framework maturity, control documentation quality, assessment completion, overdue actions and remediation delivery.

• Identify emerging themes, systemic control weaknesses or recurring risk drivers and recommend improvement actions.

• Help develop more insight-led reporting that explains what the data means, why it matters and where management attention is required.

• Ensure reporting outputs are reconciled, timely and suitable for review by senior stakeholders, second line, Internal Audit or regulators.

• Support ongoing improvement of reporting definitions, data sources, dashboards and management information processes.

Stakeholder Engagement and Advisory Support

• Build effective working relationships across Product, Operations, Engineering, Corporate Functions, Risk, Compliance, Internal Audit and other relevant stakeholders.

• Provide guidance and support to control owners, process owners and risk coordinators on controls framework requirements and RCSA expectations.

• Facilitate workshops, working groups and challenge sessions to support control uplift, process-risk-control mapping and assessment activities.

• Communicate complex risk and control concepts clearly to both specialist and non-specialist audiences.

• Support internal and external reviews, audits, assurance activity and regulatory enquiries by helping to provide clear, accurate and well-organised control information.

• Escalate material control gaps, poor-quality documentation, delayed remediation or unclear ownership in a timely and structured way.

• Act as a reliable point of coordination and subject matter support for controls and RCSA activity within the first line.

Continuous Improvement and Risk Culture

• Identify opportunities to improve the effectiveness, efficiency and consistency of the Controls Framework and RCSA programme.

• Support enhancements within MetricStream and related systems, including improvements to workflow, data quality, reporting and user experience.

• Promote adoption of controls best practice, governance standards and evidence-based assessment across FTSE Russell.

• Contribute to the ongoing maturity of the Controls Framework by helping move from inventory maintenance to a more risk-aligned, insight-driven and assurance-ready control environment.

• Support improvements in control taxonomy, classification, evidence standards, attestation processes and lifecycle management.

• Help embed a strong controls culture through constructive challenge, transparency, clear ownership and disciplined follow-through.

• Promote better linkage between controls, RCSA, incidents, issues, audit findings, root cause analysis and risk appetite monitoring.

Knowledge, Skills & Experience

Essential

• Experience in operational risk, controls, audit, governance, compliance, assurance or a comparable regulated environment.

• Good understanding of risk and control frameworks, including control design, ownership, evidence, testing, effectiveness assessment and lifecycle management.

• Experience conducting control reviews, control assessments, risk assessments, assurance activity or quality assurance reviews.

• Strong analytical and problem-solving skills, with the ability to interpret complex information and identify key themes, gaps and improvement opportunities.

• Ability to assess control documentation and challenge whether controls are clearly defined, measurable, owned and aligned to risks.

• Experience supporting or facilitating workshops, working groups or stakeholder review sessions.

• Strong stakeholder management and communication skills, including the ability to influence constructively and explain control concepts clearly.

• Experience producing management information, dashboards, governance reporting or committee materials.

• Strong organisational skills, with the ability to manage multiple activities, deadlines and stakeholder follow-ups.

• Excellent attention to detail and a strong focus on data quality, evidence standards and documentation discipline.

• Ability to work independently, escalate appropriately and maintain delivery discipline in a complex environment.

Desirable

• Experience with RCSA methodologies, including risk identification, control assessment, residual risk assessment and remediation planning.

• Experience using MetricStream or equivalent GRC platforms.

• Understanding of process mapping, risk taxonomy, control design and controls rationalisation.

• Experience within regulated financial services, market infrastructure, benchmark administration, index, data or analytics environments.

• Familiarity with issue management, incident management, audit findings, root cause analysis and remediation tracking.

• Experience supporting regulatory reviews, Internal Audit activity, second-line challenge or control remediation programmes.

• Professional qualification, or progress toward a qualification, in risk management, audit, governance, compliance or a related discipline.

Why Join FTSE Russell?

• FTSE Russell operates in a highly regulated, client-critical environment where strong controls, reliable risk assessment and evidence-based governance are essential.

• In this role, you will play a key part in strengthening the first-line Controls Framework and RCSA programme, helping the business improve control quality, risk visibility, assessment discipline and governance outcomes. You will work closely with experienced risk and control professionals and business stakeholders across Product, Operations, Engineering and Corporate Functions.

• This is an opportunity to deepen your expertise in controls, RCSA, operational risk and governance while contributing to a more consistent, transparent and regulator-credible control environment across FTSE Russell.

Career Stage:

London Stock Exchange Group (LSEG) Information:

Join us and be part of a team that values innovation, quality, and continuous improvement. If you're ready to take your career to the next level and make a significant impact, we'd love to hear from you.

LSEG is a leading global financial markets infrastructure and data provider. Our purpose is driving financial stability, empowering economies and enabling customers to create sustainable growth.

Our purpose is the foundation on which our culture is built. Our values of Integrity, Partnership, Excellence and Change underpin our purpose and set the standard for everything we do, every day. They go to the heart of who we are and guide our decision making and everyday actions.

Working with us means that you will be part of a dynamic organisation of 25,000 people across 65 countries. However, we will value your individuality and enable you to bring your true self to work so you can help enrich our diverse workforce.

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You will be part of a collaborative and creative culture where we encourage new ideas. We are committed to sustainability across our global business and we are proud to partner with our customers to help them meet their sustainability objectives. Our charity, the LSEG Foundation provides charitable grants to community groups that help people access economic opportunities and build a secure future with financial independence. Colleagues can get involved through fundraising and volunteering.

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