Director, Risk Management

HomeEquity Bank; Toronto; Hybrid; CAD 140,000 - 160,000; Full time

Job summary

HomeEquity Bank seeks a Director of Risk Management to enhance and oversee operational risk frameworks. You will collaborate with cross-functional teams and ensure compliance with regulatory standards, while fostering a culture of risk awareness. This role demands strategic thinking and strong leadership in a hybrid work environment.

Benefits

Extended health and dental benefits

Employee & Family Assistance Program

Employer-Matched Group Retirement Savings Plan

Employee Share Investment Plan

Well-being initiatives including wellness account

Qualifications

• 15 years relevant work experience, significant experience in regulatory reporting and risk management.
• Strong knowledge of regulatory requirements and industry standards.
• Excellent written and verbal communication skills.

Responsibilities

• Lead operational risk management and oversee risk assessments.
• Manage risk management programs and compliance with regulatory requirements.
• Develop operational risk reports for executive management.

Skills

Leadership

Analytical Skills

Project Management

Communication

Education

University degree in Economics, Business, Finance or equivalent

MBA, CPA, CFA (preferred)

Job description

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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.

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 Director, Risk Management is responsible for advancing the development, implementation, and oversight of enterprise-wide operational risk frameworks and policies. This role leads the design and execution of operational risk management programs and initiatives, ensuring the organization operates within its defined risk appetite and complies with regulatory requirements. Collaborating with cross-functional teams, the Director will oversee the completion of risk management control testing, incident management and conduct risk assessments of various types. The Directorwill play a key role enabling the successful development and execution of new product innovation through the new initiative risk assessment. Reporting to the VP, ERM and ORM, the role will be the key liaison with the Strategy, Product and Digital Teams and will build appropriate risk management frameworks that enable HomeEquity Bank to operate with agility and autonomy while adhering to the bank’s established risk protocols and regulatory requirements.

MAJOR ELEMENTS OF THE ROLE:

• Lead the design, enhancement, and execution of the Operational Risk Management Framework (ORMF), including policies, standards, procedures, tools, and reporting.
• Oversee the Risk and Control Self-Assessment (RCSA) program across all business functions and assess the adequacy of internal control environment and guide business to improve controls and risk management processes as appropriate.
• Lead the development and implementation of a RCSA process inventory, a risk-based roadmap, and risk control libraries.
• Lead and coordinate the completion and approval of new initiative risk assessment (NIRA) and management processes to enable new product launches.
• Support business leaders and 1Bs in the development and implementation of risk appetite metrics including limits and key risk indicators (KRIs), providing effective challenge as the 2nd line of defense.
• Manage operational risk incident capture, root cause analysis, and remediation tracking.
• Lead regulatory exams and internal audits related to operational risk management activities.
• Develop and deliver operational risk reports and communication materials for executive management, Board risk committees, and regulators.
• Assess and monitor operational risk exposures against the Board-approved Risk Appetite Framework.
• Promote a culture of risk awareness - develop operational risk training materials and support the roll out an all-staff risk training program.
• Oversee the management of operational incidents including suspected fraud, senior financial abuse, working closely with fraud operations team to drive fraud prevention related initiatives.
• Lead, coach and manage a team of 1-2 risk management professionals.
  
  

SKILLS AND EXPERIENCE REQUIRED:

Qualifications

• You have a university degree in Economics, Business, Finance or equivalent. [Post-secondary degree and/or relevant designations (e.g. MBA, CPA, CFA) preferred]
• You have at least fifteen (15) years relevant work experience, with significant experience in regulatory reporting, risk governance or fraud risk management space (at least ten years’ experience in the identified areas).
• You have strong working knowledge of relevant regulatory requirements and industry standards for risk management and controls (working knowledge of fraud risk management is preferred).
• You have excellent written and verbal communication skills at an executive or Board level.
• You can quickly distill large amount of data and information and translate it into presentable materials.
• You are great at managing ambiguity and can quickly grasp the essence of the discussion.
• You can set and drive the “big picture” strategy while also having the capability to provide detailed technical and process guidance to your team and business partners.
• You can create a strong culture of collaboration and partnership with cross-functional peers.
• You possess excellent leadership, organizational, and communication skills.
• You have strong business acumen, strategic thinking, sound professional judgement, creative problem-solving skills, and “can-do” mentality.
• You are a team player, smart, adapt well with change
  
  

Attributes

• Effective organizational, project and time management skills with the ability to prioritize, support and anticipate the needs of the department and deliver on concurrent projects with competing priorities
• A positive attitude, a desire to learn, and a willingness to persevere to get work done, either independently or as part of a team.
• Strong attention to detail and accuracy
• Well-developed analytical, problem solving and research skills
• Polished verbal and written communication skills, including experience in preparing and presenting reports to various levels of management
  
  

WORKING CONDITIONS UNIQUE TO ROLE

• Hybrid working environment.
  
  

WHY WORK AT HOMEEQUITY BANK?

Great Environment

HomeEquity Bank offers a hybrid working environment supported with a culture of flexibility – an approach that is unique to each person, and that enables both business and individual needs to be met in a mutually beneficial way.

We pride ourselves in recognizing and celebrating performance, community service, teamwork, and diversity among our employees.

A Dynamic Culture – With People at the Centre

We believe our people make all the difference; our tireless commitment to inclusivity, professional development, and employee experience has been recognized through awards including the Greater Toronto’s Top Employers 2024,Waterstone Canada's Most Admired Corporate Cultures 2022-2023, the Globe and Mail's Report on Business: Canada's Top Growing Companies 2022 (third year since 2019), Canadian's Mortgage Professional (CMP) Top Mortgage Employer 2023 for the third year in a row and Achievers Top 50 Most Engaged Workplaces 2023.

Growth and Opportunities

We provide challenging and rewarding careers in a wide variety of fields. We continuously develop and train our employees through professional growth opportunities and on-the-job training. We also encourage our employees to develop professionally and personally though a series of career developing programs including our Educational Assistance Program, designed to reimburse costs related to professional learning and development.

Celebrating Great Work and People

We believe in an environment that celebrates success, knowledge, leadership, and work that is inspired by our core values. For these reasons, we have created several programs that make it easy for our employees to say ‘great job’ to their colleagues and leaders.

From our Appreciate! Program to the High Five Award Program and President’s Award Program, we recognize professional achievement with a variety of rewards including points towards gift cards, merchandise, and travel experiences, as well as group RRSP/DPSP contributions and more.

Our Community Leadership Program recognizes employees who make a positive impact in their communities through volunteer work with a grant for their charity of choice. Additionally, we provide employees with one paid day off each year to volunteer at their favourite local charity.

The Perks

HomeEquity Bank offers a competitive total rewards package that includes:

• Extended health and dental benefits
• Employee & Family Assistance Program
• Employer-Matched Group Retirement Savings Plan
• Employee Share Investment Plan
• Well-being initiatives including: a wellness account; virtual self-care programs and extended mental health benefits
• Employee corporate discount for GoodLife Fitness
  
  

HomeEquity Bank is committed to an inclusive, equitable and accessible workplace. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.

Please note that our successful candidate is required to complete a background check.

Stay in the Know

Find out what we’re up to online, and learn more about what makes HomeEquity Bank a great place to work:

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Chip.ca

Join Us! If you’re ready to build the future of reverse mortgages, we want to hear from you.

Seniority level

• Seniority level

  Director

Employment type

• Employment type

  Full-time

Job function

• Job function

  Finance

• Industries

  Financial Services and Banking

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