Manager, Operational Risk Management

2 weeks ago


Edmonton, Canada CWB Financial Group Full time

At

CWB

, we strive to build value for the people who choose us every day: our people, our clients and our investors. We do this by holding true to the values that guide us. We put people first and build relationships with intention. We seek out and embrace new ideas, knowing that better is always possible. We believe that how we do things is as important as what we do. And we harness the power of inclusion. Our culture is who we are and how we show up - as individuals and as a team - to accomplish our strategy.

Manager, Operational Risk Management

Role Specifications

Everyday flexibility. Hybrid work environments with onsite requirements.

CWB is a bank built for business owners

Canadian Western Bank (CWB) is the only full-service bank in Canada with a strategic focus to meet the unique financial needs of businesses and their owners. Our teams take a relationship-based approach to deliver a uniquely proactive client experience through highly personalized service, specialized expertise, customized solutions, and faster response times. We provide full-service business and personal banking, nation-wide specialized financing in targeted industries, comprehensive wealth management offerings, and trust services.

Our highly engaged teams operate within a client-centric, collaborative, and change-ready culture, with a core focus to achieve our vision to become the best full-service bank for business owners in Canada as we continue to transform our capabilities.

The Opportunity

Operational Risk is the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events. CWB Financial Group (CWB) needs to maintain a Group Wide Operational Risk Management framework in line with industry best practices and regulatory requirements to identify, measure, monitor, manage and report operational risk on a consistent enterprise-wide basis. This role is accountable for effectively contributing to the design, development, and implementation of the Operational Risk Management framework and preparation of management information on operational risk for the Non-Financial Risk Committee, Executive Risk Committee and Board Risk Committee. Accountabilities include developing and implementing framework and tools applicable across the enterprise and working with various Business Lines and Corporate Functions to conduct Risk Control Assessment, Root Cause Analysis, New Initiative Risk Assessment, Loss data collection, Key Risk Indicators, Scenario Analysis etc.

Specific Accountabilities

Operational Risk Management framework- Effectively contribute towards developing and maintaining an Operational Risk Management framework for managing and overseeing Operational Risk within CWB.- Facilitate Operational Risk mitigation activities within CWB to ensure that CWB operates within its overall Operational Risk Appetite approved by the Risk Committee of the Board.- Monitor both internal and external environment for top and emerging risks that impact CWB and the financial services industry and develop appropriate reports for the consumption of Senior Management.- Responsible for the review and update of current documentation related to the Operational Risk Management program, including the Operational Risk Management Policy, Standard and related procedure documents.- Develop and conduct regular group wide training and communications on operational risk management and relevant operational risk events to facilitate learning and continuous process improvements across CWB.- Stay current with regulatory changes and industry best practices on internal controls and operational risk management.- Collaborate with business units across CWB to identify process level risks applicable to the function and work with leaders within the function to derive action plans to further mitigate risks where control improvements are identified.- Design and implement an Operational Risk reporting database to track Risk Control Assessments, Internal loss data, external loss data, Action Plans and results of scenario analysis workshops.- Prepare various reports on CWB’s operational risk profile, operational risk appetite and on any significant operational risk issues, including new and emerging risks.- Provide effective second line challenge to the risk assessments conducted by business and corporate functions across the enterprise.

Loss Data collection and Root Cause Analysis
- Responsible for Operational Loss Data collection, validation, evaluation, analysis, and reporting across the CWB’s operations.
- Accountable to ensure that the operational loss data is comprehensive, accurate and aligns with regulatory guidelines, set out in Basel III.
- Accountable for directly working with business leaders and facilitate root cause analysis of material operational risk events and development of mitigation action plans along with providing effective and objective challenges.

Implementation and maintenance of ORM tools- Develo



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