Manager Operational Risk Management

7 months ago

Toronto, Canada Canada Life Assurance Company Full time

**Job Description**:
This is an exciting time to join the Canada Operational Risk Management (ORM) team at Canada Life. The Canada ORM team is part of the broader 2nd line Risk and Compliance function. The group is looking to strengthen its independent risk oversight function to better support our business in appropriately managing risk. The ORM team is responsible for ensuring that appropriate ORM processes are in place and working effectively and that policies, procedures and standards concerning the identification, assessment, measurement, monitoring, and control of operational risks are effectively executed across Canada Life (CL). The Manager, ORM will play a key role in developing, executing, and providing oversight of ORM activities across the enterprise.

**MANDATE**:

- Support the Director and team in developing, documenting and implementing risk and control programs including but not limited to Risk and Control Assessment (RCA), Risk Function Indicators (RFIs), Scenario Analysis, as well as supporting work to develop frameworks for risk programs including, but not limited to supplier risk and operational resilience.
- Support the Director and team in developing, executing and providing oversight on assigned risk and control programs processes including but not limited to Risk and Control Assessment (RCA), Risk Function Indicators (RFIs), Scenario Analysis, Internal Events, as well as supporting the ongoing implementation of the GRC tool.
- Analyze risk and control topics that are identified through ORM processes to identify trends, significant risks, and to support successful remediation.
- Facilitate and participate in due diligence reviews, regular and ad hoc operational risk management activities and other 2nd Line of Defense meetings as required.

**KEY ACCOUNTABILITIES**
- ** Develop, execute and manage enterprise Operational Risk and Control identification and measurement processes**:

- Support the Director to develop, implement and continuously improve defined ORM programs.
- Design, implement, monitor, and provide ongoing support of processes and procedures, guidelines, tools, templates, training, and other supports required for managing Operational Risk across the enterprise.
- Serve as a Subject Matter Expert (SME) on the elements of the Operational Risk Framework and Program.
- ** Provide management, monitoring and oversight of the operational risk and control environment**:

- Ensure the Operational Risk Framework and associated ORM policies are being consistently applied and executed in compliance with enterprise standards.
- Provide challenge as a key contributor in the second line of defense regarding material risks identified by 1st Line of Defense (business units).
- Collect data and report at a consolidated Canada level on defined ORM programs, including RCA, Risk Events, RFIs, and Scenarios, distilling them into meaningful insights for senior management that support action and decision making.
- Monitor risk and control action plans to ensure that actions are effective in remediating the issues and are being timely executed.
- Conduct enterprise-level activities to determine the effectiveness of internal controls for mitigating key risks, support the identification of control enhancements in end-to-end processes, recommend remedial actions, and share insights and best practices with relevant business units as a proactive measure to reduce the likelihood and impact of future risk events.
- Facilitate Canada ORM-led stakeholder’s meetings, document Minutes and Action Plans and monitor execution of action plans.
- Develop methodologies to analyze Operational Risk data and strengthen monitoring and oversight of Operational Risks.
- ** Contribute as a key member of the ORM team in ensuring the group adds value to the enterprise while operating efficiently and effectively**:

- Build effective relationships within the team and with stakeholders across the enterprise.
- Encourage new ideas and innovative approaches and actively share knowledge and experience to enhance the development of the team and its expertise.
- Project manage ORM activities to manage an overall time sensitive production schedule and process for the recurring activities within the department
- Develop and implement metrics to assess and monitor the effectiveness of Operational Risk programs and processes, including internal team processes.
- Support the department in preparation of internal and/or external audit and regulatory reviews.
- Support other projects and activities as required.
- ** Promote a strong operational risk management culture and capability.**
- Participate in developing, scheduling and facilitating workshops with 1st and 2nd Line of Defense to support strong awareness and capability for executing RCA, RFIs, Scenario Analysis and other ORM strategy and framework programs.
- Support the awareness of Canada Life’s risk-taking philosophy, risk appetite, policy, authority structure, procedure

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