VP, Enterprise and Operational Risk Management

at  HomeEquity Bank

WHO WE ARE

HomeEquity Bank is a Schedule 1 Canadian chartered bank and the leading national provider of reverse mortgages, with a growing portfolio. As the only bank solely dedicated to serving homeowners 55 and up, we’re passionate about helping Canadian homeowners live retirement on their terms. We live that commitment every day, with a range of reverse mortgage solutions that include our flagship CHIP Reverse Mortgage™ product.
Our Values, Our Passion
At HomeEquity Bank, our values drive and inspire our actions with our customers, our partners and each other.
Customer-Focused. Passionate Advocates
Courage to Act. Do the Right Thing
One Team. One Vision
Think Long-Term. Ever-Evolving
Be Exceptional. Inspire Greatness

POSITION SUMMARY

The role is responsible for setting the strategic vision of the Bank in managing Enterprise and non-financial risks with the goal of supporting the growth of the business in a responsible and sustainable manner, in line with the organization’s risk appetite and all regulatory requirements. These risks include, operational risk including resilience, fraud risk, technology/cyber risk, third party risk and other identified non-financial risks.
The role will be responsible to ensure that appropriate policies, procedures and systems are developed, implemented and maintained to identify measure, monitor and control non-financial risks in accordance with Bank policies, standards and applicable regulatory guidelines. This will involve working closely with all members of the executive team as well as individuals at all levels within the organization including the Bank’s 1B functions and control functions for a holistic and integrated risk management strategy.
The role is also responsible for contributing to integrated risk reporting at the Enterprise level including the Operational Risk Management Committee (Management Committee) and the Conduct Review and Risk Management Committee (Risk Committee of the Board) in accordance with the mandate and work plan of the Committees.

EDUCATION, SKILLS AND EXPERIENCE REQUIRED

Qualifications

• Minimum 15 years of combined experience within operational and enterprise risk management for a business comparable in size, product mix, and complexity and within a regulated financial institution. The ideal candidate will have deep understanding of the OSFI regulations relevant to enterprise and non-financial risks.
• Post graduate degree in Business (MBA), Finance or Commerce and completion of addition certifications, education in Risk Management is an asset.
• A demonstrated track record of tangible operational initiatives that have served to enhance institutional policies, procedures and risk disciplines.

Attributes

• Strategic vision to provide direction for the Bank’s non-financial risk-taking activities
• Exceptional interpersonal skills and well-developed self-awareness are critical to building strong relationships and influence across all levels of the organization
• Excellent leadership, communication, presentation, problem solving and decision-making skills
• Demonstrated ability to manage multiple priorities and navigate complex issues.

Working Conditions Unique to Job

• Hybrid office environment

Risk Management Strategy

• In conjunction with the CRO, develops the vision for the Bank in managing enterprise and non-financial risks including setting the strategic direction and establishing the Risk Management architecture to ensure compliance with regulatory requirements. This includes identifying the top risks for integration into the strategic planning process and incorporation into stress testing in conjunction with the key stakeholders.
• Monitors HomeEquity Bank’s compliance within risk appetite limits.

Policy development, advisory and independent challenge

• Establishes and recommends for Board approval, the appropriate Risk Management Frameworks and Policies for the Bank that defines the nature, types and degree of risk that is acceptable in pursuit of the Bank’s strategic objectives.
• Ensure that policies, guidelines and control mechanisms meet OSFI and other regulatory requirements. Ensuring that policies are routinely reviewed, modified as necessary, and well-communicated throughout the organization.
• Collaborate and advise the business lines to ensure risk management polices are embedded into business operations for proactive risk management.
• Develop and implement a comprehensive Second Line of Defense independent challenge program to ensure ongoing compliance against the Bank’s Policies and Guidelines. This includes developing and maturing the appropriate risk-based monitoring and testing program.

Operational Risk Management Processes

• Design, implementation and change management of key risk management processes including Risk and Control self-assessments, New Initiative Risk Assessments, Scenario Analysis, Key Risk Indicator development and incident management.
• Establish skill sets, processes and enabling technology, as needed, for management and oversight of fraud and operational resilience risk management.

Enterprise risk management

• Cultivate and embed a strong risk culture
• Develop and execute a training strategy to empower / upskill the first line
• Provides objective reporting to the Management Committee and relevant sub-committees of the Board including communicating changes or trends in the exposure status of the Bank’s risks against the Risk Appetite metrics as well as using relevant Key Risk Indicators.
• Ensure data quality and consistency for Board / Executive reporting.
• Monitor the risk management initiatives and roadmap on behalf of the CRO.
• Ensure that the Risk Management technology including GRC tools remain fit for purpose to support the enterprise risk management activities

Leadership

• Anticipates and establishes the talent needs of the risk management function to ensure the right people with the right skills to achieve the business goals; creates the talent roadmap and oversees the execution of initiatives by fully engaging the department and aligning it to the HEB’s Strategic Priorities
• Provides required leadership, support, resources and tools for team members to successfully deliver on business goals and provides feedback and coaching to the team to support their individual performance, growth and development
• Act as a key change agent within the department and for the organization and effectively manage the impact of organizational and operational changes on employees as the organization continues to grow in the industry
• Participate in all phases of the development of the Risk Management budget development process, as well, take a lead role in preparing and delivering proposals to senior staff in support of these plans