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Kitchener

    Manager, Operational Risk - Waterloo, Canada - Sun Life

    Sun Life
    Default job background
    Full time
    Description

    The Risk Management Centre of Excellence (Risk CoE) acts as a crucial business partner in the first line of defense, supporting Sun Life Canada Leadership to achieve our Client for Life goals by gaining a comprehensive understanding of operational risk. Our role involves crafting effective solutions to manage risk within the business.

    We collaborate with Canadian leadership, Business Unit Risk Officers in the first line of defense, and Risk and Compliance stakeholders in the second line of defense to evaluate operational risks, strengthen control frameworks, educate on risk management, oversee risk policy requirements, and facilitate business evolution while keeping risk within acceptable levels.

    Our team's scope is extensive, as we serve all areas of Client Experience Office, Group Retirement Services, Investment Solutions, Retail Advice & Solutions, and Sun Life Health.

    As the Manager, Operational Risk, you will be responsible for supervising SL Canada's Third Party Risk Program across all phases of the relationship lifecycle (Engage, Manage, Terminate). You will be a key contact for Relationship Managers, Canadian leaders, and second line of defense stakeholders in identifying, evaluating, and mitigating operational risks within the program.

    Main Accountabilities:

    • Sustain the design and implementation of a new Canada-wide Third Party Risk program, practices, and processes across all Canada Business Units.
    • Support, coordinate, and review Third Party questionnaires from ServiceNow, ensuring timely completion of all due diligence proportionate to associated risks.
    • Provide training and guidance on Third Party Risk Policy requirements to key stakeholders, including Relationship Managers, Risk CoE team members, and Business Unit SMEs.
    • Monitor and report Business Unit compliance to the Third Party Risk Policy using Ariba, ServiceNow, and Excel.
    • Guide Relationship Managers through the transition period with new Policy requirements, ensuring all key milestones are met by the end of 2025.
    • Evaluate risk and control effectiveness for key operational risks affecting Third Party relationships, identify opportunities for enhancing risk management processes and capabilities.
    • Offer risk consulting expertise, support risk reviews for critical business projects, digital initiatives, and process changes.
    • Present insightful operational risk analysis and reports to the risk leadership team and the business.
    • Maintain strong relationships with all business partners.
    • Support reviews by Internal Audit, Compliance, external auditors, and regulators.
    • Lead and support indirect reports by providing direction, setting clear expectations, coaching, recognition, and ensuring individuals are accountable for results.

    Competencies:

    • Ability to develop complex, flexible, and sustainable processes aligning with strategic objectives.
    • Strong problem-solving skills to address intricate issues effectively.
    • Experience in program or project management while collaborating with cross-functional teams.
    • Knowledge of risk management techniques including assessment, monitoring, control design, and effectiveness evaluation.
    • Strong leadership and influencing skills to build and manage relationships across the organization for goal achievement.
    • Effective verbal and written communication, with experience in presenting sensitive topics to senior management.
    • Ability to grasp complex requirements without oversimplifying or missing critical elements.
    • Proactive and motivated individual who initiates and handles unstructured activities.
    • Proven leadership in coaching within a consulting function.

    Assets:

    • At least 5 years of experience in the Canadian financial services industry in risk management or related roles.
    • Background in 1st line of defense risk management with Canadian Business Units.
    • Familiarity with Third Party Risk (OSFI B-10) and Operational Resiliency requirements (OSFI E-21).
    • Certification in risk management and/or process improvement.
    • Understanding of the regulatory landscape of Canadian Financial Institutions.
    • Skills in process/control design and analysis.
    • Capability in data analysis and presentation.


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