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Associate, Operational Risk Management

4 weeks ago


Toronto Ontario CA, Ontario Madison-Davis, LLC Full time

Office Status: Hybrid

Salary: $80,000 – $110,000


Responsibilities:

  • Facilitate the Risk and Control Self-Assessment (RCSA) process, ensuring comprehensive identification and assessment of risks and controls across business units.
  • Participate in the review and challenge of control design and effectiveness assessments.
  • Collaborate with stakeholders to identify and assess operational and non-financial risks across processes, systems, and activities.
  • Assist in conducting gap assessments and provide recommendations for addressing deficiencies in risk management practices.
  • Monitor and report on Key Risk Indicators (KRIs) to provide actionable insights into emerging risks.
  • Keep abreast of developing global financial and economic trends and emerging risks relating reputational risk and operational risk that may impact the Bank.
  • Assist in preparing of bi-weekly and monthly management and committee materials.
  • Participate in independent challenge and oversight for new product and initiative risk assessments, ensuring thorough evaluation of potential risks.
  • Ensure appropriate risk mitigation strategies are embedded before approval and implementation.
  • Support oversight of operational resilience frameworks, including business continuity, incident management, and recovery plans.
  • Review and challenge the adequacy of resilience testing and risk mitigation strategies.
  • Contribute to the development and enhancement of risk management policies, standards, and frameworks.
  • Ensure policies are effectively communicated and implemented across business lines.
  • Assist in the annual review and update of risk management related policies, frameworks, procedures and desktop manuals.
  • Familiarity with regulatory requirements and expectations related to risk management and operational resilience in financial institutions (e.g. OSFI B-10, B-13, E-21, E-4, Integrity & Security, etc.).