Director, Operational Risk, Digital Banking

1 week ago

Toronto, Canada EQ Bank | Equitable Bank Full time

**Join a Challenger**

Being a traditional bank just isn’t our thing. We are big believers in innovating the banking experience because we believe Canadians deserve better options, and we challenge ourselves and our teams to creatively transform what’s possible in banking. Our team is made up of inquisitive and agile minds that find smarter ways of doing things. If you’re not afraid of taking on big challenges and redefining the future, you belong with us. You’ll get to work with people who will encourage you to reach new heights. We like to keep things fun, ask questions and learn together.

We are a big (and growing) family. Overall we serve more than 370,000 people across Canada through Equitable Bank, Canada's Challenger Bank, and have been around for more than 50 years. Equitable Bank's wholly-owned subsidiary, Concentra Bank, supports credit unions across Canada that serve more than 5 million members. Together we have over $100 billion in combined assets under management and administration, with a clear mandate to drive change in Canadian banking to enrich people's lives. Our EQ Bank platform (eqbank.ca) has been named the top Schedule I Bank in Canada on the Forbes World's Best Banks 2023, 2022, and 2021 lists.

**Purpose of Job**

The Director, Operational Risk, Digital Banking oversees the management of risk activities across the Personal Bank. As the 2nd LoD, this role is responsible to support the design, implementation, training and awareness of the Risk program and its related methodologies, systems, tools, and processes for ongoing evaluation of all risks impacting the Personal Bank.

This individual will be supporting the business day-to-day including managing risk activities to support the Personal Banking, Digital Banking Team priorities. This individual will help the Digital Banking team build their risk process ensuring that appropriate controls are in place and challenge the effectiveness of the Digital Bank’s risk management practices and monitor adherence to the Risk Appetite Framework.

The Digital Bank follows an agile approach where cross-functional teams including Product Management, Design and Engineering work together in a POD environment against initiatives and outcomes. The Product Manager is responsible for owning all risks pertaining to the Digital Bank and its related initiatives. The Director, Operational Risk, Personal Banking will work closely with the Product Manager to provide independent oversight and effective challenge ensuring all risks in their scope are mitigated with appropriate evidence of mitigation while ensuring that the culture of agility is maintained.

**Key Responsibilities/Main Activities**

**Activities in support of the Digital Bank**:

- Provide risk advice to business units to enhance the management of risk, including advising on risk mitigation strategies 2
- Design, optimize and document controls including influencing peers to collaborate in an integrated risk management approach. - Ensure controls are implemented by control owner and evidence is available.
- Challenge and provide coaching on how to improve existing processes to enable controls to be effective while enabling agility.
- Guide the Risk and Control Self-Assessment (RCSA) process for all significant business activities and lines of business, assessing and challenging the inherent and residual risk.
- Develop and implement Key Risk Indicator (KRI) frameworks, measures and reporting tools in collaboration with business. Evaluating results against risk appetite framework to identify potential actions or changes.
- Facilitate the New Initiative Risk Assessment (NIRA) process for new initiatives to properly assess and mitigate high inherent risks and ensure residual risks are acceptable and within the Bank’s risk tolerance levels.
- Manage the operational risk event reporting program and review operational risk events and conduct root cause analysis to assess processes and controls for correction or improvement opportunities.
- Through oversight assessments and activities, ensure that issues and opportunities are identified, remediated, and reported to senior management within established monitoring and escalation parameters.
- Establish and implement testing methodologies, programs, and scenario analysis in line with the maturity of the Bank's risk program
- Ensure the development, administration and maintenance of the Bank’s Governance, Risk Management and Compliance (GRC) tool (Resolver) continues to meet the requirements of an Operational Risk Management program
- Develop and deliver training supporting the Operational Risk Management programs for team and Bank employees
- Design and implement operational risk policies, guidelines and standards and a measurement methodology which is aligned with regulatory expectations and the Bank’s overall elected and targeted level of risk measurement maturity.
- Ensure the periodic and timely review of operational risk related polic

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