Vice President, Deputy Chief Risk Officer

8 months 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**
The VP, Deputy Chief Risk Officer (DCRO) is responsible for supporting the Chief Risk Officer (CRO) with oversight of enterprise risk management, governance and control at the Bank as well as setting related strategy and policy to manage risk in alignment with the Bank’s risk appetite and Business strategy. The DCRO is also responsible along with the CRO, for to developing and overseeing the operation of an enterprise-wide risk management framework to enable the Bank to make informed business decisions and enact appropriate operational policies and practices. The DCRO contributes to the protection of the reputation of the Bank by ensuring the integrity of its risk function.

Core Responsibilities
- Foster a culture of collaboration, integrity, compliance, and internal control throughout the Bank.
- Demonstrate and adhere to the values of the Bank in all activities, including the Bank’s Code of Conduct and Ethical Behaviour and the Bank’s corporate vision, mission, and values.
- Support the development of the Bank’s long-term strategic direction including the enterprise risk appetite.
- Establish, document, and communicate standards, policies, processes, procedures and internal controls to manage risk, including the definition of risk limits and approvals consistent with the Bank’s risk appetite.
- Monitor and report on the Bank’s risk profile, initiating appropriate actions to ensure adherence to the approved risk appetite.
- Develop risk tolerance limits for Senior Management, as defined by the Board, and ensure adherence to risk escalation guideline.
- Independently review any significant new business activity, to ensure consistency and strategic fits with the Bank’s risk appetite framework and operational capabilities.
- Monitor internal and external risk events to assess whether the Bank’s internal controls are effective and foster a culture of effective challenge to ensure risk identification.
- Perform risk analysis of programs, services and activities of the Bank.
- Ensure that the internal capital adequacy assessment is the result of a robust risk identification, measurement, assessment and capital planning process, including appropriate stress testing and scenario analysis.
- Management of the Bank’s stress testing framework and oversight of specific business unit stress tests and results formally advise on risk related issues pertaining to corporate strategic decisions.
- Work directly with all Executives to provide input on the corporate strategy and the related financial plans and budgets.
- Monitor the credit quality of the Bank’s lending portfolio and investment assets for potential changes to the Bank’s credit risk profile.
- Monitor compliance with the Bank’s liquidity and funding, investment, and market risk related policies.
- Manage the Bank’s enterprise risk, operational risk and fraud risk frameworks.
- Assess the impact of mergers and acquisitions on risk management and the Bank.
- Assess the quality of risk management activities and make appropriate improvements to such policies and practice over time.
- Manage the Bank’s risk management systems/tools.
- Maintain awareness of current developments and emerging issues affecting the Bank

**Governance**
- The DCRO will provide advice and counsel to the CRO and CEO and President and/or other members of Senior Management or the Board of Directors from a risk governance perspective on the Bank’s organizational structure and operating model.
- The DCRO when needed may serve as a liaison with the Bank’s regulators, including providing timely notice of any discovered risk and compliance breaches.

**Human Resources**
- Provide leadership, direction, and motivation to the Bank’s Risk Management staff.
- Recruit Risk Management staff as required to ensure sufficient resources are available to complete all required work.
- Conduct performance appraisals to promote development of Risk Management staff and to ensure that goals are clear and consistent with departmental and corporate goals.
- Identify training needs and develop



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