Director, Risk Management
Waterloo, ON, Canada
Job Description
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At Equitable Life of Canada, we realize that your work life is not just about performing a job; it\'s about being part of a workplace that helps you grow and reach your full potential. Within our friendly and collaborative work environment, we recognize that the key to our growth and success is a dedicated, motivated and customer-responsive staff. Join Equitable Life today.
Position Title: Director, Risk Management
Reports To: AVP & Chief Risk Officer
Department: Risk Management
Term: Permanent Full-Time
Work Arrangements: We are currently working remotely, and we will be moving to a hybrid model when our office renovation is complete (approximately September 2023), coming into the office a minimum of 2 days per week, every other week on designated days.
The Opportunity: Equitable Life is looking for a Director, Risk Management to join our Risk Management team!
This role will assess existing risk management frameworks and new regulatory requirements, develop enterprise-wide policies and procedures, and develop and maintain risk assessment processes and guidance.
What you will be doing:
At Equitable Life, we are committed to providing equal access to employment opportunities across our organization. Please contact our HR team at careers@equitable.ca if you would like to receive our job postings in an alternative format or require an accommodation with the application process.
Position Title: Director, Risk Management
Reports To: AVP & Chief Risk Officer
Department: Risk Management
Term: Permanent Full-Time
Work Arrangements: We are currently working remotely, and we will be moving to a hybrid model when our office renovation is complete (approximately September 2023), coming into the office a minimum of 2 days per week, every other week on designated days.
The Opportunity: Equitable Life is looking for a Director, Risk Management to join our Risk Management team!
This role will assess existing risk management frameworks and new regulatory requirements, develop enterprise-wide policies and procedures, and develop and maintain risk assessment processes and guidance.
What you will be doing:
- Work with the heads of other oversight and functional teams to develop and maintain an operational risk management framework (policies, procedures, and guidance) that aligns with the principles and outcomes of OSFI guidelines and appropriately reflects the size, nature and complexity of the Company
- Work with the heads of other oversight and functional teams to ensure alignment between the overall operational risk management framework and existing policies, procedures and guidance for operational risk (such as privacy, technology and cyber, regulatory compliance, etc.)
- Maintain a thorough knowledge of relevant regulatory requirements, policies and guidelines
- Interpret and assess the impact of emerging activity on the Company\xe2\x80\x99s risk management framework
- Research, develop and maintain risk quantification methodologies for operational risk exposures
- Develop and recommend key risk indicators for various operational risk exposures to the CRO and Senior Risk and Capital Committee
- Develop and maintain operational risk reporting for the Executive Team, Senior Risk and Capital Committee, and the Board
- Develop and maintain risk assessment processes, tools, and guidance that supports a variety of project management and process improvement methodologies, such as waterfall, agile, lean, etc.
- Work with business and functional areas to identify and assess the impact of business initiatives on operational risks such as cyber security, model risk, process error risk, compliance, fraud, etc.
- Support all areas of the Company in developing risk mitigation strategies and tools, including the use of data analytics to detect risk events such as fraud, systemic process errors, etc.
- Develop and maintain processes for operational risk event monitoring and reporting, including a data management framework that facilitates the detection and analysis of trends
- Maintain a thorough knowledge of risk management best practices and methodologies and emerging industry and regulatory developments
- Product Design and Pricing
- Develop and maintain the Product Design and Pricing Policy, procedures and guidance, including the requirements for the annual new business report.
- Develop and recommend approval and review processes to the CRO that accommodate a variety of product development and pricing activities
- Support the Chief Risk Officer in developing and recommending corporate-wide pricing and profitability standards and measures to the CEO and CFO
- Model Risk Management Framework
- Develop and maintain policies, procedures and guidance
- Develop and recommend to the CRO a framework that is appropriate for all type of models (such as valuation, pricing, ALM, predictive analytics, etc.)
- Maintain a company-wide model inventory
- Develop and maintain a model risk assessment process
- University degree in business, finance, or mathematics-based discipline or an accounting or actuarial designation
- Minimum 5 years experience in the financial services industry with exposure to business operations, financial reporting, risk management, or audit functions
- Strong knowledge of the life and health insurance, annuity and segregated fund, and group benefits businesses
- Strong influencing, collaboration, and interpersonal skills. Expected to persuade, lead and accomplish work goals through others
- Strong knowledge of operational risk management practices for a life insurance company including cyber security risk, model risk, compliance risk, fraud risk and process error risk
- Excellent analytical and problem-solving skills
- Forward-looking thinker, able to develop policies and practices that can take several years to implement and will evolve over time
- Excellent organization skills.
- Excellent written and verbal communication skills, including the ability to tailor communications to a variety of stakeholder groups and explain complex topics in a clear and concise manner
- A healthy work-life balance with employee wellness top of mind
- Annual bonus program, annual vacation allowance, and company-paid benefits program
- An additional paid volunteer day each year so you can spend time giving back to the community
- Immediate enrollment in the company\xe2\x80\x99s pension program with employer matching
- Employee resource groups that support an inclusive work environment
- Tuition support and specialized program assistance
- A company subsidized cafeteria with a variety of daily options
- Discounts on company products and services, and access to exclusive employee perks
- Regular EQ Together events focused on company togetherness and collaboration
- Provide two professional references (minimum one supervisor and above)
At Equitable Life, we are committed to providing equal access to employment opportunities across our organization. Please contact our HR team at careers@equitable.ca if you would like to receive our job postings in an alternative format or require an accommodation with the application process.
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Job Detail
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Job IdJD2155146
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IndustryNot mentioned
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Total Positions1
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Job Type:Full Time
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Salary:Not mentioned
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Employment StatusPermanent
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Job LocationWaterloo, ON, Canada
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EducationNot mentioned