Specialist, Operational Risk Management

1 month ago

Montréal, Canada Business Development Bank of Canada Full time

We are banking at another level.

Choosing BDC as your employer means working in a healthy, inclusive, and skilled workplace that puts forward the best conditions to bring together unique teams where employees are empowered to act. It also means being at the centre of ambitious economic and financial projects to see further and to do things differently, to fuel the success of Canadian entrepreneurs.

Choosing BDC as your employer also means:
- Flexible and competitive benefits, including an Employee Savings and Investment Plan where BDC matches part of your voluntary contributions, a Defined Benefit Pension Plan, a $750 wellness and health care spending account, to name a few- In addition to paid vacation each year, five personal days, sick days as necessary, and our offices are closed from December 25 to January 1- A hybrid work model that truly balances work and personal life- Opportunities for learning, training and development, and much more...

POSITION OVERVIEW

We are looking for a Specialist, Operational Risk Management, to play a lead role in the implementation and ongoing monitoring of BDC’s enterprise-wide Operational Risk Management Framework (ORMF). They will be responsible for implementing and improving BDC’s ORM Programs in alignment with regulatory, industry, and risk management best practices. They will be positioned as a business and ORM expert responsible to provide expertise to first line of defense (1LOD) and will have the opportunity to work with individuals across the entire organization and contribute to many initiatives and projects.

CHALLENGES TO BE MET- Primary responsibility will include implementation of ORM programs for the first and second-line stakeholders on Business Continuity and Corporate Insurance and support other programs including Third Party Risk Management within the risk function as necessary.- Work closely with business lines and corporate functions by accompanying, guiding and providing leadership to support their ORM deliverables and achieve their first lines of defense accountability related to Business continuity, disaster recovery, crisis management and insurance practices and related reporting, processes, controls and activities.-
- Ensure that BDC is protected against risks related to its activities by developing and maintaining effective risk management mitigation strategies through insurance programs. Establish the business case, measures and tools to determine coverage expectations and deductible strategy.-
- Effectively and efficiently manage insurance claims, participating in contract negotiations with adjusters, insurers and lawyers and evaluate the cost effectiveness of various programs to obtain the most favorable terms of settlement for BDC.-
- Act as a team back-up for Third Party Risk Management program for critical activities-
- Design and enhance operational risk governance, methodologies, tools, implementation, and trainings in line with BDC’s nature of business and industry best practices.- Provide both in-depth business and risk management expertise across all business lines and corporate functions during ORM program interactions.- Effectively review and challenge 1LOD and 2OD risk assessments and program deliverables- Facilitate the establishment of an effective risk culture through the deployment of ORM programs, communication, training, and onboarding of 1LOD, 2LOD, senior management, and other stakeholders.- Monitor and oversee remediation activities and action plans; coordinate discussions with business unit management to determine or confirm action to be taken. Perform post-implementation reviews to verify that risks are managed appropriately.- Establish, manage, and improve ORM program reporting, including program KRIs, data collection and analysis, risk reporting, risk events, action plans, and committee presentations and management, and present findings at various levels of the organization.- Develop and maintain ORM stakeholder relationships with 1LOD and 2LOD leadership.- Support ongoing strategic planning for ORM framework, directives and maturity roadmaps.- Keep abreast of the latest risk management best practices and regulations.- Own the mission to increase the maturity of 1LOD to take charge of operational risk assessment.

WHAT WE ARE LOOKING FOR- Bachelor’s degree in commerce, finance, business administration or equivalent- 7+ years of relevant experience within the Canadian financial services sector, specifically in front line operations or process support; direct experience in Operational Risk Management/Business Continuity management preferred.- Extensive knowledge of Canadian Banking products, processes, and organizations.- Knowledge of banking regulations and best practices (OSFI, Basel).- Knowledge of Corporate insurance markets (an asset).- Ability to produce and communicate polished and crisp reports, analyses, and presentations.- Excellent judgement and creative problem-solving, including excellent negotia

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