Specialist, Enterprise Risk Quality Assurance
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Job ID : 6360
Category : Corporate Actuarial & Risk
Brand : Definity
Regular/Temporary : Regular
Fulltime/Parttime : Full Time
Location : Waterloo, Canada
Definity includes some of Canada’s most long-standing and innovative insurance brands, including Economical Insurance, Sonnet Insurance, Family Insurance Solutions, and Petline Insurance. With strong roots that date back to 1871, we’ve grown to become a digital leader in the insurance industry. We’re proud to help our clients and communities adapt and thrive in a world of constant change.
Our promise to you: It’s better here. Why? Because we CARE, and we provide an employee experience that’s collaborative, ambitious, rewarding, and empowering.
Our ambition is to be one of Canada’s leading and most innovative P&C insurers. Come be a part of our journey, and love what you do.
Definity offers a flexible, hybrid work experience where employees work from the office and virtually depending on the type of work they are doing and who they are working with. Leaders partner with their teams to find the right balance of on-site and remote work that best meets the needs of their teams, colleagues, brokers and customers, while ensuring collaboration, teamwork and accountability for goals.
What can you expect in this role?
As a member of Enterprise Risk Management which is the Second Line Risk Management function, the primary objective of the Enterprise Risk Quality Assurance team, is to identify opportunities to mitigate enterprise risk. We work to enhance the quality of risk management practices through comprehensive, independent assessments.
- Evaluate design and effectiveness of cross-functional processes & controls to mitigate enterprise risk.
- Identify trends impacting the achievement of business objectives.
- Promote scaling of best practices and cross-functional collaboration across the organization.
- Validate compliance with policies and regulatory requirements.
- Provide oversight, constructive challenge, and consultative support to the First Line Risk Management.
A Specialist, Enterprise Risk Quality Assurance will work with the team to conduct quality reviews according to the annual plan and established methodology, which includes:
- Defining the review objective and scope,
- Engaging stakeholders in interviews,
- Gathering documentation/evidence and conducting the analysis,
- Assessing design and effectiveness of controls,
- Identifying implications of control/process deficiencies,
- Documenting strengths, observations and making practical recommendations for improvement that balance effective risk management with cost and implications to the business,
- Reporting findings to senior leadership and collaborating on the action plan to address the gaps,
- Monitoring completion of the committed action plans.
The team supports quarterly and annual reporting to the Management Risk Committee, provides oversight to the First Line Risk Management and collaborates with other risk and control groups. We foster the awareness of the company’s risk management practices by proving advisory and consultative support. We strive to be a value-add partner for the business, and we continue evaluating and streamlining our own processes to be more effective. We continually learn, innovate, improve, and stay on top of emerging trends in risk management. We have a highly engaged team, and we have fun!
This role will report into the Director, Enterprise Risk Quality Assurance.
What do you bring to the role?
We are looking for a candidate with prior audit experience as well as strong analytical and problem-solving skills, ability to think strategically, negotiate and influence decisions and understand interconnection between various departments in the insurance operations. Other characteristics include:
- Undergraduate degree or diploma in Business, or related discipline,
- CIP/FCIP/CRM/Internal Audit or CPA designations would be an asset,
- 5+ years’ broad enterprise experience in the P&C insurance or financial services industry,
- Previous experience in risk management, quality assurance, control monitoring and internal or external audit,
- Big picture, strategic thinking with ability to influence decisions and outcomes,
- Strong organizational skills, solid analytical, problem solving and business process improvement skills,
- Excellent verbal and written communication skills and ability to present to all levels in the organization,
- Customer focused with ability to build and maintain positive and trusting relationships with stakeholders,
- Ability to work effectively with diverse groups to identify issues, reach consensus and implement workable solutions,
- Quick learner with ability to adapt to changing priorities and execute within tight deadlines,
- Continually demonstrate company values and professionalism in all interactions,
- Highly engaged, positive attitude, strong collaboration and team building skills,
- Great sense of humor.
We also take potential into consideration. If you don’t have this exact experience, but you know you have what it takes, be sure to give us more insight through your application and cover letter.
Go ahead and expect a lot — you deserve it, and we’ve got it:
- Hybrid work schedule for most roles
- Company share ownership program
- Pension and savings programs, with company-matched RRSP contributions
- Paid volunteer days and company matching on charitable donations
- Educational resources, tuition assistance, and paid time off to study for exams
- Focus on inclusion with employee groups, support for gender affirmation surgery, access to BIPOC counsellors, access to programs for working parents
- Wellness and recognition programs
- Discounts on products and services
Our inclusive work environment welcomes diversity and supports accessibility. If you require accommodation at any time during the recruitment process, please let us know by contacting: [email protected]
This role requires successful clearance of a background check (including criminal checks and leadership references).