Risk Management Consultant

Company Name: Empire Life

Job Contact: Apply on company website

Contact Email: N/A

Job Location: Toronto, Canada

Date: 8/15/2017

Job description
  • Scope Statement The Risk Management Consultant leads risk management initiatives, coordinates major elements of the annual enterprise risk identification and assessment exercise, reviews risk identification and assessment procedures, monitors internal compliance and recommends changes. The incumbent is guided by defined goals and procedures and works under the general supervision of the Vice-President, Risk Management. Impact Statement
    • Ensure that operational risk requirements are implemented and monitored on a timely and comprehensive basis to ensure ongoing Corporate compliance with OSFI E-21 Operational Risk Management guidelines
    • Provide guidance to Executive management and internal risk management committee(s) in the development and implementation of practical and effective operational risk management practices
    • Leads projects and initiatives with a focus on operational risk that are designed to create a more robust enterprise risk management framework
    Responsibilities include
    • Participate in development and execution of plans for implementation of regulatory requirements for operational risk management; identify, measure, monitor and report on operational risk on an enterprise basis
    • Participate in annual enterprise risk identification and assessment including co-ordination and review of assessments by other departments; investigate and review weaknesses and inefficiencies
    • Produce risk assessment reports for Senior Management review and strategic decision making
    • Research, analyze and adjust the scope of the risk identification and assessment process; liaise with key internal stakeholders to gather relevant information, review and analyze effectiveness; make recommendations to Senior Management and execute changes in collaboration with key stakeholders
    • Stay abreast of current and emerging regulatory requirements and lead initiatives to ensure continued compliance
    • Collaborate with various departments for testing requirements; act as primary liaison and manage deliverables to meet project timelines
    • Support internal risk controls within Risk Management
    • Ensure compliance with internally established risk identification and assessment standards and procedures to facilitate the determination of the risk exposure for Empire Life
    • Review identification and assessment procedures to ensure compliance with external legislative and governing requirements
    • Provide support, assistance and guidance to line management on operational risk-related matters
    • Act as a champion for operational risk management and promote a practical approach to risk management across the organization
    • Ensure that the risk management team meets all relevant regulatory requirements and formal commitments made to relevant regulators
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