Compliance and Risk Officer

Sompo Holdings, Inc.; Toronto; Hybrid; CAD 120,000 - 150,000; Full time

Job summary

Sompo Holdings, Inc. in Toronto is seeking a Compliance and Risk Officer to join the Legal & Compliance team on a hybrid basis. The role focuses on regulatory compliance management, policy framework maintenance, and risk governance across the enterprise.

You will work with OSFI guidance, lead monitoring, training, and reporting to senior management, while collaborating with the North America CRO. The position requires 5+ years in insurance compliance and risk roles, a relevant degree, and strong

Qualifications

• Experience in compliance and risk management within insurance.
• Knowledge of regulatory frameworks, OSFI guidance, and risk controls.
• Ability to lead training, communicate with stakeholders, and influence first-line controls.

Responsibilities

• Support regulatory compliance management and policy framework maintenance.
• Monitor regulatory changes, assess impacts, and report to senior management.
• Assist with ERM/ORSA processes and risk reporting across business units.
• Provide guidance to the first line of defense and coordinate compliance training.

Skills

Compliance experience

Regulatory knowledge

Leadership

Data analysis

Communication

Education

Bachelor's degree or related designation

Tools

Ethidex

Job description

## Compliance and Risk OfficerApply: Hybrid: Toronto, Canada: Full time: Posted Today: R4477## **Job Description****Are you looking for your next opportunity?**Sompo has a unique opportunity for a **Compliance and Risk Officer** in our **Legal & Compliance** team. **Location:** This position will be based out of our **Toronto, Canada** office. We strive for collaboration, which is why we offer a work environmentwhere our employees thrive and develop long-lasting careers. **Our business, your impact, our opportunity:****What you’ll be doing:****Compliance Management and Regulatory Affairs Support:*** Support the maintenance, execution, and enhancement of Regulatory Compliance and Policy Frameworks, including managing related tools.* Execute obligations under OSFI and other regulatory guidance including OSFI E-13 Regulatory Compliance Management.* Monitor legislative and regulatory changes, assess impacts, and communicate compliance requirements to stakeholders.* Lead compliance monitoring, testing, and the Ethidex review process to ensure adherence to policies and regulations.* Promote an ethical-based culture by developing and advising the first line of defence/business units with respect to policies (i.e. their adoption, development, implementation and maintenance), practical guidance, training, relevant controls, and processes for mitigation of risks.* Assess compliance risks in business activities (e.g., claims, distribution) through audits and reviews, addressing issues promptly.* Prepare and present compliance reports with metrics and insights for senior management and governance committees. Ensure that relevant stakeholders are informed, understand and support Compliance activities and prioritization.* Assist with regulatory disclosures (e.g., CCIR Annual Market Conduct Survey) and coordinate responses to regulatory requests.* Assist with privacy compliance (e.g., DSARs, DPIAs) and oversee sanctions screening, ensuring adherence to all regulatory requirements.**Risk Management:*** Work with the North America CRO to oversee implementation of Enterprise Risk Management (ERM) frameworks including risk identification, assessment, monitoring, reporting, and mitigation, across financial, operational, climate, IT, cyber security, model risk and third-party risks.* Design and implement processes to identify, assess, and mitigate organizational risks, including the ORSA and Earthquake Data Exposure filings.* Assist with documenting the organization's risk register and risk appetite framework and statements and integrate it into business decision-making.* Establish Manage risk reporting procedures and communicate risks to senior management, governance committees, and stakeholders.* Collaborate with internal teams to assess business activities, address compliance risks, and integrate risk requirements into operations.* Engage with relevant internal / external partners, and provide Risk input to support the timely preparation, review and challenge of Branch capital requirements.* Execute obligations under OSFI and other regulatory guidance including E-21 Operational Risk & Resiliency. Support the identification, assessment, escalation, and remediation of operational risk events, control deficiencies, and emerging risks, providing challenge and guidance to the first line.* Promote a strong risk culture by providing risk advice, challenge, and education to the business. Share insights and recommendations from compliance risk assessments and assurance activities to drive continuous improvement. The role is expected to focus predominantly on Compliance and Regulatory Affairs Support (approximately 70%), alongside Risk Management responsibilities (approximately 30%), with regular overlap between the two functions. **What you’ll bring:*** Extensive experience in compliance and risk management roles in the insurance industry (5+ years).* Bachelor’s degree or designations in Risk Management, Finance, Business, Law, or a related discipline; relevant professional qualifications highly regarded.* Strong leadership and strategic planning skills, with the ability to manage multiple priorities.* Advanced knowledge of regulatory frameworks, risk management practices, and compliance oversight tools (e.g., Ethidex).* Knowledge of enterprise risk management and operational risk frameworks, with the ability to implement them pragmatically in an agile business environment.* Proven ability to design and implement compliance training and awareness programs.* Excellent verbal and written communication skills, with the ability to collaborate effectively across teams and with senior management.* Proficiency in data analysis, reporting, and risk assessment methodologies. **Salary Range:** $120,000 – $150,000. Actual compensation for this role will depend on several factors including the cost of living associated with your work location, your qualifications, skills, competencies, and relevant experience.