Director, Plan Operations Risk Management

Why you’ll love working here:

high-performance, people-focused culture

our commitment that equity, diversity, and inclusion are fundamental to our work environment and business success, which helps employees feel valued and empowered to be their authentic selves

membership in HOOPP’s world class defined benefit pension plan, which can serve as an important part of your retirement security

competitive, 100% company-paid extended health and dental benefits for permanent employees, including coverage supporting our team's diversity and mental health gender affirmation, fertility and drug treatment, psychological support benefits of $2,500 per year, and newly extended maternity/parental leave top of 26 weeks)

optional post-retirement health and dental benefits subsidized at 50%

yoga classes, meditation workshops, nutritional consultations, and wellness seminars

access to an annual wellness reimbursement program for health and wellness-related expenses for permanent and temporary employees

the opportunity to make a difference and help take care of those who care for us, by providing a financially secure retirement for Ontario healthcare workers

Job Summary

The Healthcare of Ontario Pension Plan (HOOPP) is a defined benefit (DB) pension plan that is dedicated to providing a secure retirement income to more than 400,000 members in Ontario’s healthcare sector. More than 600 employers across the province offer HOOPP to their employees. The Plan Operations Division is responsible for providing service to members in order to deliver on HOOPP’s pension promise.

Reporting to the Vice President, Strategic Planning & Performance, this position provides senior leadership to Plan Operations in the analysis, development and evolution of the Division’s risk and controls environment. This position is the knowledge expert on best practices for internal and operational controls over pension administration activities and will focus on the strategic implementation of Plan Operations’ risk culture. This involves leading the design, implementation and maintenance of a risk and evaluation framework for pension administration activities; identifying, supporting and designing controls and control processes and procedures; leading the development of appropriate controls monitoring; testing controls; establishing appropriate procedures for control testing effectiveness; and reporting on risk management and controls activities. The Director, Plan Operations Risk Management leads the divisional senior leadership Operational Risk Committee and is accountable for the development of Plan Operations’ strategy, guidelines and the sharing of principles to ensure consistent standards and practices are applied across the Division. The role requires collaboration will other HOOPP divisions, including Risk, Finance and IT, to gain an understanding of key related businesses and IT processes, and to identify and monitor risks and mitigating controls, and any required remediation plans. The role is the key Plan Operations contact for Internal Audit and the external auditors to coordinate, monitor and report on any audit-related assessments and procedures.

What you will do:

Lead the continuous evolution of the design, implementation and maintenance of a risk and evaluation framework for pension administration activities.

Provide leadership and direction in the assessment of operational risks relating to pension administration in the Plan Operations area

Provide direction across Plan Operations with respect to risk management and the evolution of a risk management culture.

Maintain and evolve the framework for the evaluation of operational risk, taking into account the direction provided by Internal and external auditor(s), Risk Management, and any enterprise risk management framework

Lead end-to-end understanding of business, operations and IT processes and systems to support risk assessments and control design

Provide leadership in the assessment of risk for any new system or process design

Collaborate with other HOOPP divisions to gain an understanding of key business and IT processes and ensure risk assessments and controls are consistent and coordinated

Lead the design, implementation, maintenance and reporting of plan operations operational and financial controls

Establish appropriate roles, responsibilities and documentation standards and provide leadership in the development and maintenance of detailed operational controls and documentation

Assess the design and operating effectiveness of controls, identify gaps and/or weaknesses and assist in the design and implementation of new controls

Monitor the design and operational effectiveness of controls based on risk, including the development and execution of test plans

Develop a strategy for reporting on the effectiveness of controls

Develop strategy for, and manage periodic risk reviews of divisional processes, as well as quarterly quality review on member event processing, and lead reporting of same.

Develop expertise in system security and access requirements, lead and maintain the divisional access framework including the continuous monitoring and administration of system access to ensure appropriate controls are in place and that divisional users follow the principle of least privilege

Collaborate and influence divisional and external stakeholders in the regular upkeep and promotion of proper system access controls including leading applicable training, and maintaining related documentation/reference material while aligning to the division’s risk culture

Develop strategy and provide leadership in assessing, monitoring and reporting on security-related items, including access to systems, data and records

Collaborate with various audit functions including HOOPP’s Internal Controls over Financial Reporting (ICFR) and the Financial Statement Reporting (FSR) teams in Finance a

Prepare required documentation and documentation maintenance, and the design, coordination and reporting and any related testing activities and outcomes

Negotiate and manage any remediation plans for identified gaps/weaknesses, ensure sufficient visibility and communication to divisional management and stakeholders, including the regular maintenance, evolution, and communication of the Plan Operations Audit Dashboard

Collaborate, influence, and manage various audit processes for the periodic documentation of enterprise risk as it relates to Plan Operations, the identification of related controls, and the design, coordination and reporting of any testing activities and action plans

As a centralized subject matter expert, ensure divisional stakeholders are engaged, prepared, and knowledgeable while minimizing any operational disruptions as it relates to any divisional audits, queries, confirmations, etc.

Manage and maintain relationships with both internal and external parties to ensure mutual objectives are met and to resolve issues in a timely manner.

Provide leadership in developing an effective understanding of operational risks and controls through effective communication and coaching to the other areas of Plan Operations

As the knowledge expert on best practices for risks and controls, conduct research, create a strategy, set guidelines and discuss and share principles to ensure standards and practices are understood and applied consistently and appropriately

Collaborate and partner with other divisions to raise awareness of risks and controls, share practices, and ensure a consistent and appropriate understanding and assessment of risks and controls across HOOPP

Establish the criteria for determining which business processes, and what portion of transactions for these business processes, undergo risk and transaction reviews

Provide reporting on various review processes

Collaborate with the Risk Division in the evolution of enterprise risk management and enterprise control processes.

As the knowledge expert on the Plan Operations risk management and controls, maintain and manage the relationship with the Risk Division and collaborate with the Risk Division to support enterprise risk management and controls process and development

Lead a team of operational risk management and controls experts by recruiting, mentoring, and providing coaching, development, and direction.

Measure the team’s performance through the Performance Management process

Monitor workflow, establish and re-organize the work, and develop resource plans to effectively meet performance goals and service standards

Develop individual plans in accordance with division business plans and objectives, reporting and monitoring team statistics

What you will bring:

A University degree

A professional accounting or risk designation (CA, CMA, CGA), preferably a CA designation

At least 10 years of progressive experience in the Risk management and/or Finance and/or Investment industries with a minimum of 5 years of management experience

Expert knowledge of industry best practices for internal controls and operational risk management

Ability to identify, understand, document and monitor internal controls, critically assess the effectiveness of internal controls and make recommendations to improve internal controls, supporting front office, back office, middle office and finance functions

Working knowledge and understanding of IT controls

Excellent documentation skills

Ability to identify, understand, document and monitor complete and effective policy and procedural documentation, supporting functions from end to end

Significant experience in interacting with auditors

Strong service orientation and proven ability to meet concurrent deadlines in an environment of multiple priorities.

Ability to effect change, lead, coach, influence and motivate productive teams including those who do not have a direct reporting line

Strong verbal and written communication skills

Strong analytical and reasoning skills

Ability to work independently and with minimal supervision