AVP, Enterprise Risk Framework & Process

Overview: The Associate Vice President (AVP), Enterprise Risk Framework & Execution is responsible for designing frameworks, implementing processes, and executing controls to operationalize the Enterprise Risk Management (ERM) Framework across the Company. The successful candidate will become a member of the Global Risk Management team, reporting to the Global Head of Enterprise Risk and leading a small team, and regularly collaborating with the Global Chief Risk Officer and the Global Risk Management Leadership Team. They are accountable for materials going to the CEO and Executive Leadership Team and Board of Directors.

You have extensive experience in risk management within the financial services industry and a proven track record of leading transformational change in the face of an evolving risk environment and increasing regulatory expectations. You have developed deep subject matter expertise and are passionate about positioning enterprise risk management as a strategic lever to promote value protection and value creation. You are collaborative and can explain key concepts to stakeholders in an approachable way. You are pragmatic and focus on delivering outcomes.

Key Responsibilities:

• Develop and implement policies and procedures on risk taxonomy, governance, culture, appetite, identification, assessment, treatment, monitoring and reporting.
• Prepare and present comprehensive recurring risk reports and ad hoc presentations to the Head of Enterprise Risk, Global Risk Management Leadership Team, Global CRO, Executive Risk Committee and Board Risk Committee.
• Collaborate with leaders in Global Risk, Strategy, Finance and the business segments to integrate risk management into strategic, business, capital and financial planning and decision-making processes.
• Develop and deliver training and awareness programs on enterprise risk management.
• Ensure understanding of and adherence to OSFI (Office of the Superintendent of Financial Institutions) regulatory requirements.
• Champion innovative approaches to fulfillment of the mandate through continuous learning, innate curiosity, and familiarity with industry best practices.
• Implement framework enhancements by developing understanding of current risk and business processes, engaging and driving alignment across stakeholders, integrating into existing processes and systems where possible and otherwise enhancing or building anew.
• Lead and mentor the Enterprise Risk Framework & Execution team by guiding and overseeing their collective accountabilities to:

• Catalog and maintain a mutually exclusive and comprehensively exhaustive Risk Taxonomy.
• Guide the effective operation of the risk governance framework, including the risk policy framework, risk committee framework, and the three lines governance and operating model.
• Enhance, implement, and maintain the risk culture framework, including processes for assessing, monitoring and reporting on risk culture.
• Enhance, implement, and maintain the risk appetite framework, including guiding the annual Board approval of risk appetite statements (qualitative and quantitative) and risk limits.
• Design methodologies and set requirements for the identification and assessment of risks under current risk profile and scenarios of severe but plausible stress.
• Oversee the collection, transformation, analysis, monitoring and reporting of risk data, ensuring adherence to data governance requirements, including RDARR (Risk Data Aggregation and Risk Reporting) principles.
• Develop methodologies and guidance for establishing and maintaining Key Risk Indicators (KRIs) and the build out of KRI dashboards.
• Collaborate with internal teams to leverage data and analytics to streamline and automate reporting.
• Produce high quality risk reporting that is tailored to various internal audiences, including the Board, Executive Leadership Team, and various Risk Committees.
• Draft external disclosures on enterprise risk management including to external auditors, regulators, rating agencies, and the public (in public filings such as MD&A, AIF, and Proxy Circular).

Required Qualifications and Experience:

• Background in Business, Consulting, Risk, Finance, Economics, Compliance, Actuarial, Law, or a related field; advanced degree preferred.
• Minimum of 15 years of experience in the financial services industry with direct experience in:
• Risk Management (Enterprise Risk, Strategic Risk, Operational Risk, Insurance Risk, Credit Risk, Market Risk or Liquidity Risk)
• Interpreting regulatory requirements and translating them into internal policies
• Engaging with regulators (preferably OSFI) and responding to their requests
• Proven track record of implementing large scale transformation initiatives
• Exceptional emotional intelligence, horizontal leadership capabilities, and ability to influence.
• Confident, effective communicator, preferably with experience presenting to the Executive Leadership Team and Board of Directors.
• Strong leadership and team management skills.
• Sharp analytical, critical thinking and problem-solving abilities.

Preferred Qualifications and Experience:

• Exceptional ability to set a strategic vision and couple it with tactical execution
• Self-starter that takes initiative and is passionate about driving outcomes
• Professional certification in risk management (e.g., ORM, CRM, FRM, PRM) and/or subject matter expertise in Capital, Compliance or Audit
• Detailed understanding of OSFI Requirements (eg: Supervisory Framework, Corporate Governance Guideline, Integrity & Security Guideline, Regulatory Notice on Culture Risk, Guidelines B-10, B-13, B-15, B-19, E-13, E-21, etc.)
• Ability to work effectively in a fast-paced, dynamic environment.
• Experience with stress testing, risk measurement and analytics

When you join our team:

• We’ll empower you to learn and grow the career you want.
• We’ll recognize and support you in a flexible environment where well-being and inclusion are more than just words.
• As part of our global team, we’ll support you in shaping the future you want to see.