Risk & Monitoring Specialist

Servus Credit Union; Calgary; Hybrid; CAD 60,000 - 95,000; Full time

Job summary

An established industry player is seeking a Risk & Monitoring Specialist to join their Corporate Services Department. This hybrid role involves identifying, assessing, and mitigating risks while ensuring compliance with regulatory requirements. The ideal candidate will possess strong analytical and problem-solving skills, and be able to communicate effectively with various stakeholders. With a commitment to fostering resilient communities and a culture that embraces diversity, this organization offers a unique opportunity to make a meaningful impact while enjoying a range of benefits. If you are passionate about risk management and want to contribute to a team that values authenticity and collaboration, this position is for you.

Benefits

Training & Development Opportunities

Career Advancement Potential

Flexible work options

Competitive Compensation

Employee volunteer program

Qualifications

• 3-5 years of experience in risk management or compliance roles.
• Knowledge of regulatory frameworks like OFSI B10 is a plus.

Responsibilities

• Conduct vendor risk assessments and provide ongoing recommendations.
• Develop monitoring strategies to track risk factors continuously.

Skills

Risk Management

Analytical Skills

Problem-Solving

Communication

Education

Bachelor's degree in Business Administration

Certified Risk Management Professional (CRMP)

Tools

Venminder risk management software

Job description

Posting Closes: February 12, 2025, 4:00 PM MST

Employment Status: Full-time, permanent (37.5 hrs/week)

Servus is growing! We are currently looking for a Risk & Monitoring Specialist in our Corporate Services Department. This is a hybrid position.

Servus Credit Union is Alberta's largest member-owned credit union, known for building strong, resilient communities by helping our members feel good about their money. One of Canada's Best Managed Companies for 20 consecutive years and ranked as one of the top banks in Canada on Forbes World's Best Banks list for two years in a row, we are a team of smart, gutsy, and driven individuals.

Reporting to the Procurement Lead, the Risk & Monitoring Specialist will play a crucial role in identifying, assessing, mitigating, and monitoring risks to ensure the company's compliance with regulatory requirements and internal policies and Third-Party Risk Management guidelines. This position demands a keen analytical mind, excellent problem-solving skills, and the ability to communicate effectively with various stakeholders to minimize financial, operational, regulatory, and reputational risk while maximizing vendor relationships.

Responsibilities

• Risk Assessments:
• Conduct thorough vendor risk assessments to identify potential risks.
• Use various tools and risk matrix, including Venminder risk management software, to manage risk.
• Provide ongoing recommendations to amend risk tools to ensure best practices are aligned with a continuously shifting organization.
• Employ qualitative and quantitative methods to assess risk likelihood and impact to the organization.
• Identify, monitor and report on all vendors with a focus on any vendor classified as critical/material.
• Develop a thorough understanding of Servus to develop a holistic view of risk for each vendor.
• Risk Mitigation: Work with internal/external stakeholders to mitigate risks identified including reporting on inherent risks vs residual risks.
• Monitoring: Develop and implement monitoring strategies to continuously track and analyze risk factors and ensure all documentation is up to date.
• Compliance: Ensure adherence to contractual commitments and risk mitigation strategies by internal/external stakeholders to ensure regulatory requirements and internal policies and Third Party Risk Management framework is adhered to.
• Reporting: Prepare detailed reports on vendor risk assessment findings and present them to senior management including reporting on critical vendors, inherent/residual risk, etc.
• Collaboration: Work closely with other departments to integrate risk management practices into business processes to ensure compliance with all policies.
• Training: Conduct and create training material of vendor risk for staff to raise awareness about vendor risk management and monitoring.
• Continuous Improvement: Stay updated with industry trends and best practices and analyze trends to inform procurement strategies and present findings to leadership with actionable recommendations.

Requirements

Experience:

• Minimum of 3-5 years of experience in risk management, compliance, or a related role.
• Experience with risk analysis tools and techniques (e.g., risk matrices, Venminder would be an asset).
• Knowledge of OFSI B10 regulatory frameworks is considered a plus.
• Familiarity with industry-specific risks.

Education:

• Bachelor's degree in Business Administration, Supply Chain Management, Finance, Risk Management, or related field.
• Certified Risk Management Professional (CRMP) or similar certification(s) is a plus.
• An equivalent combination of education and experience may also be considered.

Most importantly, we're looking for candidates who align with our values. We live our values in how we do business. We're not afraid to be different - in fact, we embrace our differences. We have a spirit that motivates us to give our best service to members every day. It's our values that attract many people to Servus - and keep them with us. We embrace our culture and heritage, and we pride ourselves on our strong commitment to the communities we serve and our efforts to build and maintain member loyalty. If this sounds like you, then we encourage you to apply.

Additional Requirements

The business may from time to time ask for branch and/or department support for special projects and/or areas experiencing staff shortages. All employees may be asked to volunteer to assist in areas of need during these times. These assignments could result in a change of hours, location, and/or travel.

Benefits

Working for Servus has outstanding benefits. In addition to standard benefits like health and wellness, vacation and retirement savings programs, we also provide other important benefits such as:

• Training & Development Opportunities
• Career Advancement Potential
• Flexible work options
• Competitive Compensation including performance-based incentive pay
• Meaningful work towards individual and corporate goals
• Opportunities to get involved and give back through an employee volunteer program.

At Servus, our employees are also members. This means you'll have all the benefits of being a member of the credit union including profit sharing, voting for the board of directors, and all of the services we provide ... with a few additional perks!

What happens next?

Only those applicants selected for an interview will be contacted. Should you require any accommodations during the hiring process, please advise us at that time.

Discover a sense of belonging amongst a team of unique, authentic individuals working together to reimagine financial fitness. We value and celebrate the richness that diverse backgrounds and experiences bring to our community. Your skills, passion, and curiosity may find a sense of belonging at Servus, so even if you don't check every box we encourage you to apply!