Vice President, Risk and Compliance

People Corporation; Toronto; On-site; CAD 140,000 - 160,000; Full time

Job summary

A leading company in insurance solutions seeks a Vice President of Risk and Compliance in Toronto. The role entails leading the corporation's Enterprise Risk Management, overseeing compliance frameworks, and driving risk awareness. Candidates should have a proven track record in risk management with excellent strategic and communication skills, alongside a solid understanding of regulatory requirements.

Benefits

Extended health care and dental benefits

Retirement savings plan with company contributions

Health & Wellness offerings

Mental Health programs and support

Qualifications

• Seasoned risk professional with a strong leadership background.
• Excellent communication skills are crucial.
• Experience in managing multiple priorities.

Responsibilities

• Lead the Corporation's Enterprise Risk Management (ERM) framework.
• Manage compliance and risk assessment processes.
• Collaborate with multiple stakeholders to address risk.

Skills

Leadership

Communication

Analytical skills

Problem-solving

Project management

Education

10-15 years experience in risk management

Understanding of regulatory compliance

Job description

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We are seeking a seasoned and highly motivated risk professional to join our team. As VP Risk and Compliance, you will report to the Chief Legal, Risk & Compliance Officer and lead activities related to the Corporation’s Enterprise Risk Management (ERM) framework and regulatory compliance policies and frameworks.

The risk and compliance team designs and supports the Corporation’s ERM framework, sets the standards for consistent and effective end-to-end risk management across the company, and provides independent oversight and critical assessment of risk-taking activities. This includes leading risk governance, influencing strategic discussions, and ensuring alignment with regulatory standards to maintain a high-quality risk environment across the company.

The team actively engages with the business and support functions, providing input into key risk decisions to drive risk awareness and strengthen risk culture in line with the Corporation’s Vision and Values.

Additionally, the VP, Risk and Compliance will need to engage with multiple senior stakeholders, provide effective challenge, and effectively work across multiple teams and business lines to execute on the mandate. The position requires excellent communication skills to work and negotiate internally at senior levels while managing multiple priorities simultaneously staying abreast of industry best practices.

The VP, Risk and Compliance is a balance of analytics, strategy, and communication – an ideal fit for someone who thrives on cross-functional collaboration and enjoys tackling complex challenges.

The Vice President, Risk And Compliance Will

• Develop/enhance and recommend the ERM policy/framework and other risk/ compliance policies to the CEO and Executive Leadership Team.
• Manage the ongoing assessment, revision, and updating of the ERM framework and risk/compliance policies to reflect industry, regulatory, and organizational changes.
• Manage the effective implementation of the ERM framework throughout the Corporation and provide support for risk identification, risk assessment, risk management, and risk monitoring processes. This involves the use of ERM tools such as: annual risk and control self-assessments and quarterly updates, new product and initiative risk assessments, control testing and other independent assessments, risk mitigation action plan tracking and reporting.
• Collaborate with other risk management and control functions within the organization (e.g., IT Risk/Security, Legal, Finance) to identify and mitigate risk.
• Work with management and their designated compliance officers to embed compliance requirements within operational procedures.
• Participate in developing a vendor risk management program.
• Participate in various enterprise-wide committees (e.g., new product review board, cyber security committee, fraud committee)
• Provide communication and education on risk management and regulatory compliance.
• Monitor risk and compliance across the Corporation and escalate significant risks or concerns to the Chief Legal, Risk & Compliance Officer.
• Work with designated compliance officers within the business to perform periodic compliance testing (e.g., license confirmation, file reviews for privacy consent, disclosures, client risk assessments, etc.)
• Oversee the investigation and assessment of potential privacy incidents and ensure appropriate recording/tracking of the incidents. If required, work with management to notify clients and those individuals whose personal information has been compromised, and report privacy incidents to the federal/provincial regulators.
• Oversee the management of corporate and individual licensing and insurance portfolio for the Corporation and all subsidiaries.
• Support the Corporation’s acquisition program by assessing the risk and compliance management practices of potential new acquisitions.
• Oversee the investigation and reporting to FINTRAC of potential suspicious transactions and terrorist property reports, as required.
• Ensure that a formal assessment of the effectiveness of the Corporation’s AML/ATF program is performed at least every two years. Also, submit Voluntary Self-Disclosure of Non-Compliance report to FINTRAC as required.
• Provide periodic reports on the status of risk management and compliance to senior management and the Board.
• Manage a team of risk and compliance professionals, including hiring, training and development.
• Keep up to date on emerging risk management practices and regulatory requirements.
  
  

To be successful as a Vice President, Risk and Compliance with People Corporation, you will need:

• Strong Leadership skills with a demonstrated ability to inspire, guide, and influence individuals and teams toward achieving common goals
• Excellent communication skills with the ability to convey ideas clearly and to foster strong, positive relationships across the organization
• An inquisitive mindset complemented by an inclination to explore, ask thoughtful questions, and seek out new knowledge or solutions
• To lead change and influence stakeholders at all levels
• Proven capacity to manage multiple responsibilities, tasks, or projects simultaneously without compromising quality or deadlines
• Project management strengths with experience setting clear goals, defining deliverables, and managing resources
• Experience implementing enterprise-wide programs
• Strong interpersonal, analytical, critical thinking and problem-solving skills
  
  

All-star Candidates Will Have

• 10-15 years of progressive and relevant risk management and regulatory compliance oversight experience, preferably in a fast-paced and dynamic environment
• Solid understanding of regulatory requirements in the Canadian insurance and financial services environment
• Knowledge of Privacy laws in Canada and Information Technology processes and controls an asset
• Bilingual (English/French) an asset
  
  

What's In It For You

• Learn by working alongside our experts
• Extended health care and dental benefits
• A retirement savings plan with company contributions
• A suite of Health & Wellness offerings
• Mental Health programs and support for you and your family
• Assistance for the completion of industry designations
• Competitive compensation
  
  

At People Corporation we are committed to helping businesses succeed. We are a national provider of benefits, retirement, wealth, wellness, and human resource solutions. Our experts and solutions serve over 20,000 clients representing nearly 3 million Canadians. We offer customized solutions designed to fit the unique needs of businesses and their employees, members and stakeholders.

Providing an inclusive, accessible environment, where all employees and clients feel valued, respected and supported is something we're committed to. We are dedicated to building a workforce that reflects the diversity of the communities in which we live, and to creating an environment where every employeehas the opportunity toreach their potential. If you require an accommodation or an alternative format of any posting please reach out to [e-mail].

Seniority level

• Seniority level

  Executive

Employment type

• Employment type

  Full-time

Job function

• Job function

  Finance and Sales

• Industries

  Insurance

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