Senior Manager, Operational Risk

Individually we are people, but together we are Aviva. Individually these are just words, but together they are our Values – Care, Commitment, Community, and Confidence.

The Senior Manager, Operational Risk supports the VP, Operational Risk & Sustainability with oversight over Operational Risk Framework and contributes to the overall success of the second line operational risk function.

The Senior Manager is liable for providing advisory and healthy challenge in the business’ operational risk management practices, including the effective execution of all Operational Risk & Control Management Framework tools in aligning with the relevant operational risk policies and standards as well as ensuring proactive management of the top and emerging risks as identified.

The Operational Risk team assesses the full spectrum of risks and combined impact of those risks as an aggregated risk portfolio, including operational risk capital and is responsible for the review and challenge of the business’s assessment of these risks, and provides business leaders with Risk’s independent opinion of risk exposures, risk profile and actions which should be taken to manage and mitigate risks.

The team also has responsibility for putting in place the necessary mechanisms to ensure that the risk appetite and framework are aligned with the strategy and are used in decision-making across the business.

Is this your next role? Read on

What you'll do:

Aggregate risk profile review and challenge

Supervise, review and challenge Canada’s operational risk and control environment, ensuring consistency with Group requirements.

Pro-actively providing oversight of aggregated risk profile monitoring through the review and challenge of risk profile / trends and the identification of material changes in risk profile and emerging risks.

Raising breaches in risk appetite / limits and material issues, and providing business leaders with Risk’s independent opinion of the risk profile and actions which should be taken to manage and mitigate risks.

Operational Risk

Support Risk review and challenge of all aspects of operational risk to support management in their understanding, assessment and management of risk to help ensure Aviva Canada achieves its business objectives. Operational risk includes, but not limited to, Claims, Distribution, People, Legal, Projects and Programmes.

Leverage strong business knowledge, act as a sure advisor, provide valuable advice and effective challenge to the business in their operational risk management, using key operational risk management tools such as Risk Control Self Assessments, operational risk scenario analysis, Risk Events, issues management, and assessing Key Risk Indicators.

Support reporting on Operational Risk and other related matters to key Board and Management Committees as required. This includes CRO Reports to the Board Risk Committee and Board Governance, Conduct and Compliance Committee.

Conduct thematic analysis and root cause problem solving on issues identified through operational risk events reviews, self-assessments, and other reviews/testing including those performed by Audit, Compliance and Regulators to find significant risks and ensure sound risk mitigations.

Provide review, monitoring and challenge of Canada’s operational risk profile, as reported by 1st line.

Collaborate with other non-financial risks specialist areas as well as second line operational risk teams globally to ensure broad approach: Stays up to date on all relevant internal, external risk events, and industry development in order to drive awareness and focus on managing top and emerging risks.

Risk Reviews

Carry out thematic reviews of concerns in the operational risk environment, as required

Leadership

Help craft Enterprise Risk Management debate and action through proactively engaging senior collaborators

Support a continuous improvement culture where lessons learned are shared across the risk functions globally.

Work with colleagues across the business to share risk knowledge and expertise which supports business needs, developing an environment of 'no surprises' through open and honest two-way communication.

People Management

Able to work effectively via virtual teams where other team members are not necessarily in the same reporting chain

Seen as an independent and robust challenger by those in Canada, but also as a source of advice for solutions/improvements

Deliver effective performance to ensure achievement of risk outcomes

Work within a team to deliver the risk strategy and objectives

Risk Strategy and Implementation

In collaboration with other members of the Canada Risk team;

Deliver to the corporate standards for effective, appropriately risk-based policies, procedures and methodologies in support of the risk and governance framework;

Ensure there is reliable and appropriate risk management information across the business unit and the risk community.

What you'll bring:

Diploma or degree in business, economics, finance or other related field or equivalent experience.

Accounting, Actuarial, RIMS Fellow designation or equivalent designation is considered an asset.

A graduate degree or equivalent experience (e.g. MBA) will be considered an asset.

Demonstrated ability (8-10 years) in property/casualty insurance industry with progressively professional experience.

Risk management experience will be considered an asset.

Experience with quantitative analysis and preparing reports.

Relevant financial services sector experience and experience of working in a regulated environment.

Demonstrable experience in exercising good judgment in decision-making.

Strong communication and relationship management skills.

Good understanding of business processes and operations, and insurance principles and practices is required.

Maintain collaborative relationship with internal team members

Sound understanding of Financial Services / Insurance business environment /operations.

Solid understanding of capital models and inputs to these.

Understanding of the broad spectrum of risks facing sophisticated insurance businesses including technology and data, balance sheet management, underwriting, pricing and reinsurance.

Knowledge of standard methodology and emerging developments in similar multinational organizations

Agility to flex style and apply skills in a wide range of situations.

Demonstrable ability to rapidly absorb new information and identify key issues.

A self-starter with the ability to innovate is proactive, and works in a collaborative environment.

What you’ll get:

Compelling rewards package including base compensation, eligibility for annual bonus, retirement savings, share plan, health benefits, personal wellness, and volunteer opportunities.

Outstanding Career Development opportunities.

We’ll support your professional development education.

Competitive vacation package with the option to purchase 5 extra days off per year

Employee driven programs focused on gender, LGBTQ+, origins, diversity and inclusion

Corporate wellness programs to support our employees’ physical and mental health

Hybrid flexible work model

Aviva Canada has an accommodation process in place to provide accommodations for employees with disabilities. If upon commencement of employment you require a specific accommodation because of a disability, please contact your Talent Acquisition Partner so that an appropriate accommodation can be arranged. This process applies throughout your career with Aviva Canada.

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