Analyst, 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:

Reporting to the Manager, Plan Operations Risk Management, the Analyst is responsible for conducting a thorough and timely analysis of pension administration business processes and associated risks, as a critical component of the Risk Review Program. The Analyst will identify, design and document quality testing scenarios and procedures, review testing results, identify improvements opportunities and formulate recommendations. 

The Analyst will be responsible for the end-to-end regulatory compliance process, to ensure HOOPP is compliant with regulatory obligations regarding the processing of member events, and be involved in identifying, assessing, and evaluating risks and corresponding controls. 

This position also involves supporting access administration and monitoring activities within Plan Operations, to ensure access is appropriately limited based on specific job functions, and that member data is only being accessed for legitimate business purposes. 

This role requires very strong communication skills, the ability to collaborate and pivot based on priorities, and the ability to exercise a great deal of judgment, while acting in a professional manner at all times. 

What you will do:

Risk Review Program 

Responsible for conducting detailed business process mapping and analysis during the execution of risk reviews, developing risk review scenarios and testing procedures based on risk profiles, monitoring testing, and reviewing testing results, working collaboratively with all members of the risk review team (Lead and testers), and providing pension processes expertise and timely support to testers. This includes:

Apply research, process analysis and data analytics to proactively define/design, document, communicate test procedures for business processes/ transactions under review.

Ensure test procedures validate key risks, checklists are complete and streamlined, and test results are captured in a consistent, organized, and reportable manner.

Ensure that testing scenarios and procedures are developed, documented, and updated on a timely basis for all processes under review, capturing and understanding related workflows, system functionality, changes (processes, systems), plan provisions and regulatory compliance (Pension Benefit Act, Income Tax Act). This includes obtaining and compiling required data & information for sample selection and selecting samples for review.

Ensure testers have all relevant pension information, procedures, and templates to perform successful testing and supporting them during day-to-day testing. Conduct training as required.

Review that test steps and results are documented and supported with appropriate and complete evidence, ensuring observations, causes, risks, and impacts are clearly articulated, and that appropriate feedback is provided to testers, as required.

Proactively execute testing at process and transaction level, provide continuous support to Management and Specialists during testing execution; and monitor that established procedures are followed consistently, that testing results are well supported, and that key applicable risks & controls have been assessed during testing.

Ensure appropriate escalation of obstacles/challenges during testing with lead/manager in a timely manner. This includes sharing lessons learned during detail testing and opportunities for improvement in the testing process.

Provide insight and recommendations to support business process improvements and value-added activities for the review process.

Coordinate and follow-up on observations, ensure that stakeholders provide responses and remediation actions in a timely manner. 

Prepare write-ups on observations and report summaries & conclusions, for various audiences, in a clear and concise way for review and discussion with Lead and/or Manager; and ensure timely communication and escalation of any questions and roadblocks during the testing execution with Lead and Manager

Participate in meetings with stakeholders and business partners to confirm observations and finalize reporting.

Assisting with training, providing associated documentation and guidance

Assisting with testing as required

Regulatory Reporting

Maintain the process to identify and report on all member events not completed timely per the Pension Benefit Act (PBA) requirements. This process is partially automated, however involves collaborating with Data and Policy teams to ensure reports used up to date, defined, and understood.

This requires an in depth understanding of both PBA-required timelines and internal Member Services processes and timelines, as well as the ability to maintain flexibility and quickly pivot based on evolving interpretations of PBA requirements as well as internal process changes and product enhancements affecting Member Services workflow processes.

Identify opportunities for improving the Power BI reports and reducing reliance on excel and manual processes.

This requires advanced Excel skills, and excellent communication and problem-solving skills, as part of this role is to act as a liaison between management and data analysts, as well as the ability to effectively distil complex process issues and problems down to sound bites for management consumption and provide recommended solutions.

Requires exercising considerable judgment and collaboration with the Policy team in recommending appropriate thresholds for identifying cases as late by leveraging in-depth understanding of Member Services processes and timelines and conducting detailed research into late events.

Be aware of process changes within Member Services and be able to identify when the regulatory reporting process may be impacted, further investigate, and participate in forums to determine and discuss impacts, ensure detailed process document is maintained.

Risk Management

Support and/or lead evolving risk management practices and mandate, which may include:

Collaborating with various stakeholders to identify and document risks within different business functions, and identify risk mitigation actions, by documenting and assessing existing controls in place, or evaluating the need for a new control, ensuring the appropriate level of detail, clarity, and accuracy.

This involves facilitating working sessions with business group subject matter experts in addition to leveraging existing process documentation.

Identification and development of control monitoring activities such as KRIs (key risk indicators) 

Provide guidance to the business and assisting them with their reporting of KRI metrics, which are shared quarterly with senior leaders and require appropriate context and ‘story telling.’

Maintain the consolidated controls library in Excel, ensure consistency in documentation across different business groups and appropriate control attributes are reflected. Explore/recommend enhancements such as the use of Power BI to facilitate ease of use.

Monitoring of Access within the Pension Administration System

Leverage internally developed tools and knowledge of various job functions and business groups within Plan Operations to determine ‘expected’ vs. ‘unexpected’ access of member data.

Assisting with maintaining related divisional courses and guidance best practices for safeguarding member information)Collaborate with IT teams as well as business groups to improve, refine and expand the use of the access monitoring tool. 

What you bring: ​

University degree or post-graduate and/or combination of equivalent training, education and experience is required – preferable in areas of Business Administration, Accounting, Engineering, or Information Technology

Over 5 years of progressive experience in business analysis, quality assurance, process improvement and/or risk management roles

Over 3 years of experience in pension industry, preferable in pension administration/operations

Professional certification/certificate on Business Analysis, Risk Analysis, Quality Assurance or Lean Six Sigma are assets. 

Advanced Excel skills

Strong ability to collaborate and exercise a considerable amount of judgment.

Very strong communication skills – being able to both understand the granular details of a process while also being able to distill details down into talking points.

Superior analytical and critical thinking skills with the ability to map out and understand business processes, interpret related data/reports quickly and thoroughly; and draw conclusions including the identification of potential risks/corresponding impacts.

Ability to gather, synthesize, organize, and interpret data/information resulting from quality review testing and using judgment to formulate appropriate conclusions and write observations in a concise and clear manner.

Ability to collaborate with both internal and external stakeholders such as different business areas to confirm testing results and ensure their effective remediation.

Exceptional communication and documentation abilities

Strong attention to detail and ability to navigate through ambiguity and/or incomplete information.

Exemplify a high degree of professionalism and accountability.

Proven analytical, problem-solving, and reasoning skills.

Excellent time management skills, adaptable to change and an ability to remain resilient under pressure.