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Sompo has a unique opportunity for a Compliance and Risk Officer in our Legal & Compliance team.

Location: This position will be based out of our Toronto, Canada office. We strive for collaboration, which is why we offer a work environment where our employees thrive and develop long-lasting careers.

What you’ll be doing:

Compliance Management and Regulatory Affairs Support:

• Support the maintenance, execution, and enhancement of Regulatory Compliance and Policy Frameworks, including managing related tools.
• Execute obligations under OSFI and other regulatory guidance including OSFI E-13 Regulatory Compliance Management.
• Monitor legislative and regulatory changes, assess impacts, and communicate compliance requirements to stakeholders.
• Lead compliance monitoring, testing, and the Ethidex review process to ensure adherence to policies and regulations.
• Promote an ethical-based culture by developing and advising the first line of defence/business units with respect to policies (i.e. their adoption, development, implementation and maintenance), practical guidance, training, relevant controls, and processes for mitigation of risks.
• Assess compliance risks in business activities (e.g., claims, distribution) through audits and reviews, addressing issues promptly.
• Prepare and present compliance reports with metrics and insights for senior management and governance committees. Ensure that relevant stakeholders are informed, understand and support Compliance activities and prioritization.
• Assist with regulatory disclosures (e.g., CCIR Annual Market Conduct Survey) and coordinate responses to regulatory requests.
• Assist with privacy compliance (e.g., DSARs, DPIAs) and oversee sanctions screening, ensuring adherence to all regulatory requirements.

Risk Management:

• Work with the North America CRO to oversee implementation of Enterprise Risk Management (ERM) frameworks including risk identification, assessment, monitoring, reporting, and mitigation, across financial, operational, climate, IT, cyber security, model risk and third-party risks.
• Design and implement processes to identify, assess, and mitigate organizational risks, including the ORSA and Earthquake Data Exposure filings.
• Assist with documenting the organization's risk register and risk appetite framework and statements and integrate it into business decision-making.
• Establish Manage risk reporting procedures and communicate risks to senior management, governance committees, and stakeholders.
• Collaborate with internal teams to assess business activities, address compliance risks, and integrate risk requirements into operations.
• Engage with relevant internal / external partners, and provide Risk input to support the timely preparation, review and challenge of Branch capital requirements.
• Execute obligations under OSFI and other regulatory guidance including E-21 Operational Risk & Resiliency.  Support the identification, assessment, escalation, and remediation of operational risk events, control deficiencies, and emerging risks, providing challenge and guidance to the first line.
• Promote a strong risk culture by providing risk advice, challenge, and education to the business. Share insights and recommendations from compliance risk assessments and assurance activities to drive continuous improvement.

The role is expected to focus predominantly on Compliance and Regulatory Affairs Support (approximately 70%), alongside Risk Management responsibilities (approximately 30%), with regular overlap between the two functions.

What you’ll bring:

• Extensive experience in compliance and risk management roles in the insurance industry (5+ years).
• Bachelor’s degree or designations in Risk Management, Finance, Business, Law, or a related discipline; relevant professional qualifications highly regarded.
• Strong leadership and strategic planning skills, with the ability to manage multiple priorities.
• Advanced knowledge of regulatory frameworks, risk management practices, and compliance oversight tools (e.g., Ethidex).
• Knowledge of enterprise risk management and operational risk frameworks, with the ability to implement them pragmatically in an agile business environment.
• Proven ability to design and implement compliance training and awareness programs.
• Excellent verbal and written communication skills, with the ability to collaborate effectively across teams and with senior management.
• Proficiency in data analysis, reporting, and risk assessment methodologies.

Salary Range: $120,000 – $150,000. Actual compensation for this role will depend on several factors including the cost of living associated with your work location, your qualifications, skills, competencies, and relevant experience.

This job posting outlines the general nature and level of work performed by individuals assigned to this position. It does not restrict the management's right to assign or reassign duties and responsibilities to this job at any time.