Operational Risk Officer (Asset Management)

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.

MAJOR ACCOUNTABILITIES

• Perform the role of SRM for outsourced functions which includes ensuring compliance to TPRM requirements and monitoring performance against IMA and SLA.
• Execute required risk & compliance assessments with a risk-based approach to gap identification and risk mitigation. Assess risk and control effectiveness within the business unit and identify and prioritize opportunities to improve risk management by conducting periodic independent testing/monitoring of the effectiveness of key process controls.
• Work with functional teams within the business unit to manage evolving risk processes to ensure that appropriate identification, evaluation, reporting and escalation of risk exposures is in place.
• Oversee the roll-out of new/changed risk and compliance requirements in service provider and also support internal clients in designing solutions that meet risk and business objectives
• Ensure that regulatory and internal requirements are implemented by service provider, and controls are in place to ensure compliance with requirements. This includes assisting in educating the business unit on new policies, guidelines, and regulatory requirements and to provide inputs on potential impact to their operations.
• Escalate operational risk events of the business unit to BU Risk Management following Operational Risk Event Guidelines. Monitor progress and drive completion of action plans to mitigate identified gaps on incidents.
• Provide support to their Business Policy Owners on policy compliance attestations requested by Risk and Compliance.
• Support reviews conducted by Internal Audit, Risk and Compliance as well as external auditors and regulators.

SPECIALIZED KNOWLEDGE

• Knowledge and experience on investment and risk management of financial institutions, particularly on asset management, insurance, and banking operations.
• Expertise in business and governance processes in Investments Operations
• Strong leadership and influencing capabilities, ability to effectively foster and manage relationships across the organization to deliver against objectives.
• Ability to make sound recommendations to senior leaders and influence business decisions based on thorough analysis, business knowledge and risk consulting expertise.

EDUCATION AND EXPERIENCE

The candidate should have the following:
a 4-year university degree; at least 8 years management/ technical experience plus 5 years of operational risk management (preferred).
Experience in investment management and exposure to internal audit, risk and compliance functions is an advantage. Experience in life insurance, mutual funds, banks or financial services industry is also plus.

The role will provide oversight on outsourced investment management functions of SLOCPI, SLGFI, SLFPI and SLAMCI. The Head will also perform the role of ORO and support the business in identifying, measuring, managing, monitoring, and reporting operational risks of the business, including compliance related risks. He will partner with Management as well as Second Line of Defense Risk and Compliance stakeholders to assess operational risks, enhance control frameworks, provide oversight on risk and compliance policy requirements, and ultimately enable the business to evolve while maintaining risk within appetite.