Manager, Operational Risk

7 days ago

Toronto, Canada RFA Canada Full time

RFA’s residential mortgage lending business is operated by RFA Mortgage Corporation and RFA Bank of Canada, a federally regulated Schedule I Bank. RFA Mortgage Corporation specializes in Prime lending (Insured, Insurable, Uninsurable), while RFA Bank of Canada is a balance sheet based Alternative mortgage lender (Alt-A and B lending). Combined, RFA offers mortgage brokers a one-stop shop with our full suite of competitive Prime and Alternative mortgages.
- RFA’s strategic vision is to be a long-term leader in the residential lending segment by offering a value proposition beyond just rate and compensation. Through building a competitive broker experience and solutions-oriented product suite, RFA’s goal is to be recognized and recommended by our mortgage broker partners, mortgagors, and other strategic partners, for our financing solutions and broker/client experience.

**The Opportunity**

Core Responsibilities
- Assists with the execution of the Bank’s Risk and Control Self-assessment (RCSA) process with Business and Functional Units, including providing independent and robust challenge
- Helps to drive the Bank’s change initiative risk assessment process (CIRA), including facilitating and providing robust challenge on the assessment and mitigation actions
- Participates in the analysis of root causes of operational risk events including the quantification of near misses
- Tracks action items and target dates to address any identified gaps arising from RCSAs, internal audit and external audit findings, risks arising from business or other changes, root causes of operational risk events, and emerging risks
- Together with the Director, manages the Bank’s risk management systems/tools including workflow and system design, implementation, testing, and change management
- Assists in the development and maintenance of the frameworks for Business Continuity Management, New Business Assessment and Approval, Stress Testing, Model Risk Management and end user computing controls and conducts as needed, related lifecycle activities (e.g. risk assessments, business impact analysis, etc.).
- Helps the Director provide risk reporting on a detail or aggregated/Bank-level basis to CRO, senior management, or the Board and its committees on the operational risk profile, including compliance with risk limits, reporting on key risk indicators and operational risk events, and emerging trends
- Demonstrates high level of technical and professional knowledge.
- Maintains awareness of current developments and emerging issues potentially affecting the Bank’s operational risk profile, shares knowledge of current trends and provides thought leadership
- Fosters a culture of collaboration, integrity, compliance, and internal control throughout the Bank
- Effectively discharges other duties and responsibilities as may be assigned from time to time by the Director
- Human Resources
- Makes a significant and effective contribution to the planning and execution of the Operational Risk Team ERM mandate through robust and consistent delivery and enhancement recommendations
- Provides thought leadership (impact and influence) to other colleagues within the Bank’s ERM department.
- Acts as a trusted partner and risk advisor to Business and Functional Units
- Regulatory & Compliance
- Completes all regulatory and compliance and risk management training
- Complies with requirements as set by the Internal Audit, Compliance function and external regulatory bodies in all instances
- Acts in accordance with the company’s Board-approved risk appetite and tolerance for risk in all instances.

**What you can bring to RFA**:

- Overall knowledge and understanding of ERM policies and practices, including risk appetite framework, stress testing for ICAAP, and regulatory requirements related to the Bank’s activities
- Professional exposure to dealing with governmental and regulatory authorities is desired
- Bachelors’ Degree in related discipline
- Professional experience includes exposure to a GRC system (ideally in an administration role)
- Current or progression towards risk certification such as FRM, PRM, or CRM is desirable

**Benefits of Working at RFA**:

- Health & Dental Care
- Vision Care
- RRSP Match
- Vacation & Personal Days
- Home and Office work conditions
- Detailed analytical skills and the ability to independently generate risk-based reporting for monitoring oversight (including quantitative skills and an ability to understand and validate models)
- Proficient with Microsoft Office (Word, Excel, PowerPoint) including macros and data visualizations
- Exposure to / understanding of data governance concepts / initiatives
- Experience with databases and business intelligence / data mining tools
- Programming (e.g. Visual Basic, Javascript)
- Familiar with flowchart development
- Strong interpersonal and communication skills, both written and verbal
- Willing to learn new skills and expand knowledge base by demonstratin

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