Sr Analyst, Fraud Risk, Governance and Controls

Definity Financial; Calgary; On-site; CAD 69,000 - 127,000; Full time

Job summary

An established industry player is seeking a Sr Analyst to enhance its compliance function, focusing on fraud risk management and internal controls. This role involves assessing compliance activities, designing test plans, and advising business units on risk management policies. The ideal candidate will possess strong analytical skills and a proven track record in compliance oversight, contributing to effective governance and controls. Join a forward-thinking organization that values integrity and innovation in its approach to risk management and internal auditing.

Qualifications

• 5-7 years of experience in compliance, fraud risk management, or internal auditing.
• Knowledge of risk and controls standards and fraud frameworks.

Responsibilities

• Design and implement compliance and internal control programs.
• Conduct audits and provide recommendations for internal control improvements.

Skills

Compliance Oversight

Fraud Risk Management

Internal Auditing

Analytical Problem-Solving

Communication Skills

Education

University Degree

Professional Certifications (e.g., CPA, JD)

Tools

Microsoft Office

Job description

The Sr Analyst, Fraud Risk, Governance and Controls plays a key role in executing the compliance function mandate by assessing and supporting the ongoing development of various compliance activities, including the Regulatory Compliance Management, Policy Management, and Internal Controls Over Financial Reporting (ICFR) programs. The Regulatory and Financial Audit Specialist also contributes to the preparation of Management and Board level risk reporting.

The Regulatory and Financial Audit Specialist will work with the Director, ERM Compliance, other members of ERM, and Business Units to provide subject matter expertise to promote a consistent and robust approach to internal controls, compliance activities, and policy development.

The Regulatory and Financial Audit Specialist will work on designing, implementing, and managing Definity’s Regulatory Compliance Management, Policy Governance, and ICFR programs to assess the effectiveness of ICFR and compliance with relevant laws, regulations, standards, and reporting requirements applicable to Economical and its subsidiaries.

RESPONSIBILITIES

1. The ICFR program:

• Ensure that Risk Control Matrices (RCMs) are maintained by the Business Units in a timely manner and accurately reflect current internal controls and workflows.
• Advise Business Units on the creation and maintenance of relevant internal control, workflow, and flowchart documentation.
• Design ICFR test plans and testing of remediation activities for manager review.
• Conduct audit procedures over the key ICFR controls to assess both the design and operational effectiveness of the controls in support of CEO/CFO certification over the effectiveness of internal controls.
• Identify, evaluate, and escalate the implications of ICFR internal control weaknesses and deficiencies.
• Provide recommendations for control gaps and continuous improvements, including those related to fraud risk in terms of both efficient and effective internal control performance.
• Provide input into the findings in the Management Letter of Representation (LoR) process and assist with preparing reports to management and board committees as required.
• Advise Business Units in investigating and resolving internal control issues and fraud risk exposures.
• Draft Management and Board level risk reporting.
• Provide relevant support and training to functional areas.

Policy Management and Governance Program:

• Support development/modification of corporate policies, standards, and guidelines to manage key risks, including fraud and misconduct.
• Execute policy validation and coordinate annual policy compliance.
• Foster awareness of the company's risk management policies and procedures by providing ongoing advisory and support to all departments.
• Build research and analysis skills to develop and implement compliance activities, fraud risk mitigation strategies, and issue management policy recommendations.
• Lead the implementation and ongoing oversight of the enterprise fraud risk management policy, including rollout, stakeholder engagement, and alignment with other risk domains.

Regulatory Compliance Management program:

• Design test plans and testing of remediation activities.
• Conduct testing of controls to demonstrate legislative and regulatory compliance, including fraud-related controls, supporting Chef Compliance Officer certification.
• Assess the design and operational effectiveness of documentation and processes.
• Identify and evaluate internal control deficiencies and fraud indicators, recommending mitigation actions.
• Develop recommendations for closing gaps and continuous improvement.
• Assist in preparing reports for management and board committees.
• Support ad hoc risk and compliance activities as needed.

Risk Management:

• Act as a subject matter resource for enterprise fraud risk, aligning efforts with the organization's risk appetite and control environment.
• Support development, implementation, and management of the fraud risk framework.
• Facilitate fraud risk workshops, maintain registers, and define fraud KRIs/KPIs with relevant units.
• Develop materials and reports for risk committees, ELT, and the board.
• Stay current on emerging fraud trends, regulatory changes, and industry best practices.

REQUIREMENTS

• University degree and recognized professional certifications (e.g., JD/LLB/CPA/CMA/CGA/CA, Certified Internal Auditor, etc.) preferred.
• 5-7 years of experience including:
• 3+ years in compliance oversight, fraud risk management, internal auditing, accounting, or public company internal functions, ideally in financial services.
• Knowledge of risk and controls standards, COSO framework, and fraud frameworks (e.g., ACFE).
• Experience in P&C Insurance is an asset.
• Knowledge of risk management activities and policy development.
• Strong relationship-building skills internally and externally.
• Analytical problem-solving skills and ability to translate fraud risk insights into actionable recommendations.
• Excellent communication skills.
• Proficiency in Microsoft Office.

Salary Range: $69,000 - $127,000