Manager, Operational Risk

3 weeks ago


Waterloo, Canada Sun Life Full time

Job Description

:

PLEASE NOTE: This is a Hybrid environment contract role ending in December 2025.

The Risk Management Centre of Excellence (Risk CoE) is a strategic first line of defence business partner supporting Sun Life Canada Leadership in meeting our Client for Life goals by providing comprehensive understanding of operational risk and supporting the design of effective solutions to manage risk within the business.

We partner with Canadian leadership, first line of defence Business Unit Risk Officers, and second line of defence Risk and Compliance stakeholders to assess operational risks, enhance control frameworks, educate business on risk management, provide oversight on risk policy requirements, and ultimately enable the business to evolve while maintaining risk within appetite. 

The scope of the team is broad, as our internal clients include all business areas of Client Experience Office, Group Retirement Services, Investment Solutions, Retail Advice & Solutions, and Sun Life Health.

As Manager, Operational Risk, you will provide oversight of SL Canada’s Third Party Risk Program throughout all phases of the relationship lifecycle (Engage, Manage, Terminate) and be a key point of contact for Relationship Managers, Canadian leaders, and second line of defence stakeholders to identify, assess and manage operational risks within the program.

Main Accountabilities:

Sustain the design and implementation of new Canada-wide Third Party Risk program, practices, and processes across all Canada Business Units. Support, coordinate, and review Third Party questionnaires issued from ServiceNow ensuring all due diligence is completed in a timely manner and proportionate to the associated risks. Train and provide guidance to key stakeholders (Relationship Managers, Risk CoE team members, Business Unit SMEs, etc.) on Third Party Risk Policy requirements for all phases of the lifecycle. Monitor and report Business Unit compliance to the Third Party Risk Policy leveraging Ariba, ServiceNow, and Excel. Guide Relationship Managers throughout transition period with new Policy requirements, ensuring all key milestones are achieved by end 2025. Assess risk and control effectiveness across key operational risks impacting Third Party relationships, identify and prioritize opportunities to improve risk management processes and capabilities. Provide risk consulting expertise and support risk reviews for key business projects, digital initiatives and process changes. Provide insightful and valuable operational risk analysis and reporting to the risk leadership team and the business. Maintain strong working relationships with all business partners. Support reviews conducted by Internal Audit and Compliance as well as external auditors and regulators. Lead and support indirect report(s) by providing direction, setting clear expectations, coaching, recognition, and holding individuals accountable for results.

Competencies:  

Ability to design complex, flexible and sustainable processes that meet key strategic objectives. Strong problem-solving skills, ability to breakdown complex issues into viable paths forward. Experience in program or project management and working with cross-functional teams. Knowledge of risk management techniques including risk assessment, risk monitoring, control design and control effectiveness assessment. Strong leadership and influencing capabilities, ability to effectively foster and manage relationships across the organization to deliver against objectives. Confident verbal and written communication skills, experience presenting sensitive matters to senior management. Ability to distill complex requirements without oversimplifying or missing critical components. Proactive and highly motivated individual who will take initiative and is able to manage unstructured activities. Proven people leader with experience coaching within a consulting function.

Assets:

Minimum 5 years of experience in Canadian financial services industry in a risk management or related function. Background in 1st line of defense risk management with Canadian Business Units. Familiarity with Third Party Risk (OSFI B-10) and Operational Resiliency requirements (OSFI E-21). Certification in risk management and/or process improvement. Familiarity with the regulatory environment of Canadian Financial Institutions. Process/control design and analysis skills. Data analysis and presentation capability.

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