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Associate, Operational Risk Management
4 weeks ago
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.).