The Manager, ORM is accountable for developing and executing operational risk processes, tools, and standardized guidance to the enterprise to capture, identify, evaluate, respond to, and report on risk information. The successful candidate will understand the enterprise’s end-to-end processes and their material risks, conduct comparative analysis across various operational risk tools, and build a comprehensive view of business operational risk profiles. This role will consult with other 2nd line of defense functions and the 1st line of defense (business functions) to ensure that activities for managing operational risk and controls are well designed and operating effectively. The role reports into the Director, Operational Risk Management. The successful candidate will:

• Support the Director and team in developing, documenting and implementing risk and control programs including but not limited to Risk and Control Assessment (RCA), Risk Function Indicators (RFIs), Scenario Analysis, as well as supporting work to develop frameworks for risk programs including, but not limited to supplier risk and operational resilience
• Support the Director and team in developing, executing and providing oversight on assigned risk and control programs processes including but not limited to Risk and Control Assessment (RCA), Risk Function Indicators (RFIs), Scenario Analysis, Internal Events, as well as supporting the ongoing implementation of the GRC tool.
• Analyze risk and control topics that are identified through ORM processes to identify trends, significant risks, and to support successful remediation.
• Facilitate and participate in due diligence reviews, regular and ad hoc operational risk management activities and other 2nd Line of Defense meetings as required.

• Support the Director to develop, implement and continuously improve defined ORM programs.
• Design, implement, monitor and provide ongoing support of processes and procedures, guidelines, tools, templates, training and other supports required for managing Operational Risk across the enterprise.
• Serve as a Subject Matter Expert (SME) on the elements of the Operational Risk Framework and Program.

Provide management, monitoring and oversight of the operational risk and control environment:

• Ensure the Operational Risk Framework and associated ORM policies are being consistently applied and executed in compliance with enterprise standards.
• Provide challenge as a key contributor in the second line of defense regarding material risks identified by 1st Line of Defense (business units).
• Collect data and report at a consolidated Canada level on defined ORM programs, including RCA, Risk Events, RFIs, and Scenarios, distilling them into meaningful insights for senior management that support action and decision making.
• Monitor risk and control action plans to ensure that actions are effective in remediating the issues and are being timely executed.
• Conduct enterprise-level activities to determine the effectiveness of internal controls for mitigating key risks, support the identification of control enhancements in end-to-end processes, recommend remedial actions, and share insights and best practices with relevant business units as a proactive measure to reduce the likelihood and impact of future risk events.
• Facilitate Canada ORM-led stakeholder’s meetings, document Minutes and Action Plans and monitor execution of action plans.
• Develop methodologies to analyze Operational Risk data and strengthen monitoring and oversight of Operational Risks.

Contribute as a key member of the ORM team in ensuring the group adds value to the enterprise while operating efficiently and effectively:

• Build effective relationships within the team and with stakeholders across the enterprise.
• Encourage new ideas and innovative approaches and actively share knowledge and experience to enhance the development of the team and its expertise.
• Develop and implement 2nd Line of Defense processes, procedures and other supports to ensure consistent understanding and application of Lifeco ORM processes.
• Project manage ORM activities to manage an overall time sensitive production schedule and process for the recurring activities within the department
• Develop and implement metrics to assess and monitor the effectiveness of Operational Risk programs and processes, including internal team processes.
• Support the department in preparation of internal and/or external audit and regulatory reviews.
• Support other projects and activities as required

• Participate in developing, scheduling and facilitating workshops with 1st and 2nd Line of Defense to support strong awareness and capability for executing RCA, RFIs, Scenario Analysis and other ORM strategy and framework programs.
• Support the awareness of Canada Life’s risk-taking philosophy, risk appetite, policy, authority structure, procedures and processes to ensure a common understanding of risk practices and risk exposures.

Knowledge

• Experience in a 2nd Line of Defense operational risk management function in Insurance and/or Banking.
• Experience in roles responsible for building and implementing operational risk and control frameworks and methodologies.
• Direct experience managing RCA, RFIs, Scenario Analysis, and Risk Events programs.
• Direct experience managing specific Operational Risks such as Supplier risk
• Demonstrated ability to aggregate and analyze quantitative and qualitative data.

Skills

• Proven ability to be effective in a fast-paced, ambiguous and changing environment.
• Able to balance regulatory concerns, cost efficiency, program effectiveness and customer service.
• Self-starter, results oriented, and highly motivated.
• Excellent written and verbal communication skills to prepare communications and interact effectively with senior levels of management.
• Strong relationship management, partnering and collaboration skills to be effective in influencing enterprise stakeholders.
• Very organized with the ability to manage multiple competing projects and priorities under time pressure without compromising quality.

Education and Accreditations

• Post-secondary degree
• Operational Risk Management accreditation preferred

Given the size and scope of our organization, we have the flexibility for this position to be located in the following head office locations: Toronto, London, Winnipeg.

Be your best at Great-West Lifeco and Canada Life - Apply today!

Great-West Lifeco Inc. is a leading international financial services holding company headquartered in Canada with interests in life insurance, health insurance, retirement and investment services, asset management, and reinsurance businesses. It operates in Canada, the United States, and Europe under the brands: Canada Life, Canada Life Germany, Canada Life UK, Canada Life Reinsurance, Empower Retirement, Putnam Investments and Irish Life.

In Canada, Great-West Lifeco operates under the Canada Life brand, offering a broad portfolio of financial and benefit plan solutions and serves the financial security needs of more than 12 million customers. Globally our combined companies have approximately 24,500 employees, 205,000 advisor relationships, and thousands of distribution partners – all serving more than 30 million customer relationships across these regions.

Being a part of our organization means you have a voice. This is a place where your unique background, perspectives and talents are valued, and shape our future success.

You can be your best here. You are part of a diverse and inclusive workplace where your career and well-being are championed. You’ll have the opportunity to excel in your way, finding new and better ways to deliver exceptional customer and advisor experiences.