Manager, Operational Risk Management

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Job Title
Education
Post Secondary Education
Location
1. Thornhill Office - Thornhill, ON CA (Primary)
Manager
Category
Finance/Accounting/Audit
Job Type
Full-time
Job Description
As part of CCG’s second line of defense, the Operational Risk Manager will be accountable for the development and maintenance of CCG’s Operational Risk Management program including comprehensive processes for identifying, assessing, measuring, monitoring, reporting, and where appropriate, reducing pertinent operational risks at CCG. This role will have a specific focus on CAA Insurance Company and Echelon Insurance (as subsidiaries owned by CCG).
This role will report to Director, Enterprise Risk Management and plays a key role in establishing and maintaining a control environment, through collaboration with Internal Audit services, to help the organization achieve its business objectives and its mandate to Members and Insureds.
This role will require a close working relationship with business partner areas (first line of defense) and collaboration with other key corporate governance and control functions (i.e. Internal Audit, BCP, Legal/Compliance, etc.). The incumbent will champion the Operational Risk Management (ORM) function and develop/enhance ORM frameworks, policies, processes and surrounding infrastructure for implementation.
What You Will Do
Understand CCG’s environment and organizational needs to help the business identify, assess and monitor operational risk.
Lead the development and implementation of ORM infrastructure ensuring compliance with regulatory requirements (i.e. OSFI guidelines) including the championing of skills required to support ORM objectives.
Build collaborative and productive working relationships across the organization to establish, maintain, and continuously improve operational risk management capabilities, and promote risk awareness, and intelligent risk taking.
Understand the business objectives and plans in order to consistently align ORM plans with the business strategy. Work with senior management to integrate operational risk management with the strategy development process.
Develop and continuously improve the ORM framework, taxonomy, policies, methodologies, standards & tools based on OSFI’s requirements. Ensure communication of these tools to the business to enable adoption.
Ensure that operational risk requirements are implemented and monitored on a timely and comprehensive basis ensuring compliance with OSFI E-21 Operational Risk Management guidelines.
Perform operational risk identification and assessments (including operational risk and control workshops) and ensure that there is an effective monitoring methodology and escalation process in place.
Develop operational key risk indicators (KRIs), operational risk event reporting, setting quantitative and qualitative risk threshold limits and conducting scenario analysis, trends spotting and KRI benchmarking.
Establish and communicate operational risk management practices and processes to Senior Management and the Audit & Risk Committee of the Board.
Research and continuously improve operational risk management tools and techniques to identify and monitor significant risks across the organization.
Enable effective management of operational risk at the front-line level by training and coaching business partners on operational risk management best practices such as developing policies and guidelines.
Ensure that operational risk management processes are aligned and integrated with ERM processes.
Job Requirements
Who You Are
Post-secondary degree in Business Administration/Commerce/Finance or related studies
Minimum 6 years experience in the Insurance and/ or Financial Services Industry
Minimum 3 years experience in leading and managing staff
CPA designation would be an asset
Industry accreditation (CSC, CIP, FCIP, CRM) would be an asset
Experience in leading projects/programs which involved cross-functional stakeholders
Experience and knowledge in managing a risk program or framework
Experience with ORM regulatory requirements including OSFI’s Guideline for Operational Risk Management
Knowledge of the Insurance and/or Financial Services industry and regulatory environment
Strong knowledge of Governance, Risk and Compliance and Controls frameworks
Flexibility to travel is required between the CCG Thornhill office and the Echelon Mississauga office
What’s In It For You
A comprehensive Total Rewards Program which includes a competitive compensation, bonus, and flexible benefits
Work in a dynamic, collaborative and high-performing team
Making a lasting impact in the work that you do
Leaders who support your development through coaching and mentoring
Why CAA?
Get ready to drive your career forward. Life at CAA Club Group is fast paced, performance-driven and rewarding. We value our Associates' career growth and ongoing professional development – and we regularly recognize their achievements and outstanding results.
We are caring. We are leaders. We are innovators. We are collaborative.
We work hard and play hard. We're about doing what's right and feeling good about it. We are an equal opportunity employer and are committed to providing employment accommodation in accordance with the Ontario Human Rights Code and the Accessibility for Ontarians with Disabilities Act, 2005 (AODA). CAA CCG will provide accommodations to job applicants with disabilities throughout the recruitment process. If you require an accommodation, please notify us and we will work with you to meet your needs.
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