Director, Operational Risk

at  Sun Life

You are as unique as your background, experience and point of view. Here, you’ll be encouraged, empowered and challenged to be your best self. You’ll work with dynamic colleagues - experts in their fields - who are eager to share their knowledge with you. Your leaders will inspire and help you reach your potential and soar to new heights. Every day, you’ll have new and exciting opportunities to make life brighter for our Clients - who are at the heart of everything we do. Discover how you can make a difference in the lives of individuals, families and communities around the world.

ABOUT THE ROLE:

As an important member of the Sun Life Canada Chief Risk Officer’s team, this role reports to the AVP, Risk Management who reports to the Sun Life Canada, VP, Chief Actuary & Chief Risk Officer (CRO). The team is responsible for the overall integrity of the operational risk management function across Canada, ensuring that these functions operate in compliance with the Enterprise Risk Management Framework, associated Policies and Operating Guidelines that allow Sun Life Canada to effectively comply with external regulatory requirements.
The role of the Director, Operational Risk Management for Sun Life Canada is a second line of defense function. The incumbent is expected to provide technical risk expertise, project management leadership & guidance, and effective input, advice, oversight, and challenge over the design and execution of select operational risk programs. In doing so, the incumbent will need to effectively partner with Corporate Risk teams and the first line of defense Risk Center of Excellence (CoE) to support, while effectively challenging, the Business Unit Risk Owners in the management of Risk.

WHAT YOU’LL BE DOING:

Acting as the key person responsible or as the operational back-up for a select combination of risk programs, activities, and functions. These will change from time-to-time and include (but are not limited to) a sub-set of the following:

• Responsible for representing the Canadian Business Group (BG) in supporting Enterprise owned projects in partnership with the 1st line Risk Centre of Excellence. Currently preparing for significant engagement in E-21 Operational Resilience.
• Leads Business Group (BG) second line Operational Risk Management policy responsibilities (e.g., Model and End User Computing, Third Party Risk Management, Information Management). The incumbent’s ability to influence will be critical to their success. These activities include but are not limited to policy, guideline and technology consultations and enablement; second line monitoring, oversight, review & challenge; and risk policy non-compliance management & reporting.
• Managing the second line responsibilities associated with various aspects of Canada’s Operational Risk management program. Determination of Canada’s Operational Risk profile would be completed through the review, challenge and interpretation of the results from various inputs, including Key Risk Indicators (KRIs), Risk and Control Self Assessments (RCSAs), Business Practice Reviews (BPRs), Policy Non-Compliances (PNCs), and Operational Risk Events (OREs).
• Drafting the Sun Life Financial Trust (SLFT) Chief Risk Officer’s quarterly risk report to its Board of Directors. This includes monitoring and reporting on SLFT’s Key & Emerging Risks, managing risk policy updates, reporting on outsourcing, and other notable risk activities supporting SLFT.
• Enabling the accurate and complete reporting of Risk policy & guideline non-compliances (PNCs) through strong partnerships with the Risk CoE and Corporate policy owners.
• Drafting elements of the Business Group Chief Risk Officer report which would include operating, managing and assessing risks through the Key and Emerging Risk process.
• Supporting the facilitation of the Canadian Risk Oversight Committee (CROC).
• Attends various Business Unit Risk Committees and is responsible for independent oversight and challenge, to help ensure the overall integrity of risk management functions across the business. This role is expected to provide constructive challenge to senior management to drive a balanced risk model and appropriate risk-adjusted decision making.
• Represents the Sun Life Canada Risk Management team when participating in key initiatives, external reviews of Risk Management, or other ad-hoc risk deliverables.

Demonstrate ownership of the programs and processes that you operate through:

• Facilitating effective second line monitoring and challenge while working directly with the Risk Centre of Excellence (CoE) and other Risk Subject Matter Experts such Compliance, Legal, Information Security etc.
• Knowledge of the business, partners, processes, and customers you will lead or support the development of lean processes, efficient tools, and effective reporting
• In partnership with Corporate program owners, the Risk CoE, and first line risk owners, you will contribute to influencing, developing, and maintaining select risk management programs
• Consulting on business practice reviews and monitoring the evaluation of risks you help to ensure gaps/opportunities are identified, effectively communicated, efficiently managed, and escalated to relevant forums
• Continuously improving outcomes in the areas you operate