Director, Risk Management

7 months ago

Toronto, Canada Infrastructure Ontario Full time

Reporting to the Vice President Enterprise Risk Management, the Director, Risk Management will support the execution and development of the risk management function at IO. This is achieved through collaborating with the Executive team and the Board to help the organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of governance, risk management, and control processes. This includes managing the standards (framework, methodologies, policy/policies, guidelines and/or procedures) for ERM for IO, and to act as a risk advisor to the VP, ERM, who will work with executive and senior management, the Board, other business units on risk-related matters.

**What you will do**:

- Maintains the corporate risk register to ensure risk ratings are current and risk descriptions are relevant, either through a formal risk refresh exercise or through period discussions with senior and executive management.
- Maintains the ERM policy, including periodic review and administering of policy updates for approval by the Board; communication of the policy and changes to all relevant parties.
- Leads timely and accurate quarterly reporting of enterprise risk management/mitigation, along with associated awareness and socialization with key stakeholders and committees.
- Works with and supports the VP, ERM in identifying the key risks ‘deep dives’ to the Board on a quarterly basis.
- Identifies, investigates and escalates, as appropriate, new and emerging risks for consideration in the corporate risk register.
- Supporting the VP, ERM in ensuring risk management integration with IO’s strategic planning process, business planning, budgeting, and business cases, by working with business unit contacts and peers.
- Act as an advisor on risk issues relating to new initiatives, strategic decisions and major changes in strategy, at the business unit level.
- Ensures new quarterly risk reporting requirements with MOI is maintained; as well as helping to manage ministry expectations and influencing outcomes within the Director’s sphere of influence.
- Contributes meaningfully in providing a risk perspective at Management oversight committees or ad hoc support to business units (as applicable).
- This role will be responsible for elevating and helping to implement risk tools and techniques that are new to IO: implementation of new risk processes (e.g. emerging risk identification, environmental scanning/risk sensing); developing consolidated risk information and reporting; risk appetite statements and risk decision frameworks; and providing advisory/strategic support.

**Who we are looking for**:

- University degree with a professional designation (CIA, CA, CMA, CGA, CRMA and CRM), or advanced degree (MBA). Certificate in Risk Management (CRM) or Certification in Risk Management Assurance (CRMA) is an asset.
- Sound knowledge of accounting, auditing and risk management principles (ISO 31000 or COSO 2013); audit practices and procedures and relevant auditing standards.
- Knowledge of the public sector risk environment and risk software tools.
- A minimum of 8 years of direct enterprise or business risk management experience, leading teams and managing objectives.
- Experience in the development, implementation and maintenance of the enterprise risk management framework and comprehensive risk reporting, tailored to the audience, that accurately communicates the organization’s current and changing risk profile.
- Experience liaising and/or presenting to executive management and/or Board level committees.

**What's in it for you**:

- Commitment to creating a diverse, equitable and inclusive culture that promotes a sense of belonging and represents and reflects the needs of the communities we serve.
- A flexible, hybrid work approach that allows colleagues to find balance between their professional and personal lives and making the most of the benefits of working remotely and purpose-driven in-person collaboration opportunities.
- A defined contribution pension plan, where IO contributes the equivalent of 5% of a full-time employee’s annual salary, with an option for IO to match an additional 5% contribution made by the employee. IO also offers a Group Retirement Savings Plan and Group Tax Free Savings Account, designed to help IO colleagues plan and save for their future.
- A comprehensive package that covers health, dental, vision, out-of-country care, paramedical services, and more.
- A pregnancy and parental leave program that offers expecting, eligible employees a top-up to 95% of their annual base salary for 31 weeks, and our parental leave program offers eligible employees a top-up to 95% of their annual base salary for 15 weeks.
- Access to our $1000 Healthcare Spending Account to top up expenses not covered in the benefits program and a Lifestyle Account that expands the eligibility of health and wellness options and can include coverage for gym membership

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