Position Summary:Reporting to the Director of Enterprise Risk Management, the Senior Manager of Operational Risk Management (ORM) is responsible for overseeing the operational risk management of the Bank, including and not limited to the effectiveness and enhancement of programs and their continued adherence to regulatory requirements. The Senior Manager proactively engages stakeholders across the organization to monitor, assess and report on various risks to the company. The role includes a combination of project initiatives, framework development, risk assessment, risk review and monitoring. In delivering on the ORM program, the Sr. Manager works closely with Business Unit heads, SMT & ELT across the company to enhance operational risk management practices and reporting.
Major Duties & Responsibilities:- Lead the enterprise operational risk management program, including pRCSA (development and rollout), Business Continuity Management, IT & Cyber Security risk oversight, incident management, risk acceptances, Risk Culture, and change management.
- Enhance the operational risk management framework, policies and procedures to ensure continuous improvement and program maturity across the organization.
- Ensure compliance with OSFI's E-21 Operational Resilience guideline through the design, implementation, and management of the bank's operational risk management framework.
- Provide oversight and effective challenge to the work performed by the first line of defense, ensuring alignment with risk appetite and operational resilience.
- Partner with the first line of defense for risk assessment, reporting activities, and maintaining the Risk and Control framework.
- Independently review and validate the design and operating effectiveness of various operational risks and controls.
- Implement ORM best practices throughout the organization.
- Develop root cause analysis and provide risk oversight on operational risk incidents.
- Support the development, monitoring, and measurement of key risk indicators (KRIs).
- Gather information, design and format data for regular and ad-hoc reporting, ensuring accurate and timely information.
- Monitor and report on operational risk metrics, including RCSA, Operational Loss incidents, internal audit findings, Fraud Risks, IT Security risks, and BCM activities.
- Training and Development: Ensure continuous education and training for staff on operational risk management practices.
- Promote a strong risk culture across the organization, emphasizing the importance of risk awareness and proactive management.
- Responsible for the design, execution and oversight of risk and control assessment programs, including testing, challenge and validation of controls.
- Provide effective second-line oversight on technology operations, cybersecurity controls, and incident management.
- Design and implement the annual business continuity planning and testing exercises to encompass OSFI E-21 Operational Resiliency expectations.
- Support internal and external audit processes by providing necessary information and oversight.
Qualifications & Experience: - The position requires a minimum of 5 years work experience in a Risk Management role.
- The position requires a university degree with a focus in one or more of:Business, Finance, Risk Management, Statistics, Accounting or a similar field.
- Strong understanding of regulatory requirements and experienced in providing actively engage/participate in relevant risk forums.
- In-depth knowledge of risk management frameworks and methodologies.
- Strong project management skills and experience. Will manage multiple initiatives across many different teams.
- Have in depth experience building, maintaining and reviewing risk and control frameworks and their inputs.
- Have experience building, reviewing, or challenging key performance indicators ("KPI") and key risk indicators ("KRI").
- Demonstrated ability to deal comfortably with all levels of both internal and external contacts with a friendly, professional attitude.
- Excellent communication and collaborator leadership skills, with the ability to influence and work with senior leadership, technical teams, and other collaborators.
- The position requires strong written and verbal communication skills and exceptional organization and time management skills.
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