Manager, Enterprise Risk Management, Risk Reporting

Job ID : 8018
Category : Corporate Actuarial & Risk
Brand : Definity
Regular/Temporary : Regular
Fulltime/Parttime : Full Time
Location : Waterloo, Canada
Posting Range : $77,100 - $142,000

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Definity is the parent company to some of Canada’s most long-standing and innovative insurance brands, including Economical Insurance, Sonnet Insurance, Family Insurance Solutions, and Petline Insurance. Our ambition is to be one of Canada’s leading and most innovative property and casualty insurers. We can’t do that without our people, so we embrace and encourage a culture that’s collaborative, ambitious, rewarding, and empowering.

We offer 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. Bring your true self and be a part of our journey. It’s better here.

The Manager, Enterprise Risk Management (ERM), Risk Reporting is responsible for ERM’s risk data aggregation and risk reporting (RDARR) program to identify, assess, mitigate, govern and report on Definity's enterprise risks. The Manager’s accountabilities support the integration of risks across the enterprise and risk interactions across risks through risk data aggregation, and analysis of business and key risk indicators, trends and reporting.

The Manager, also provides support to key initiatives to ensure relevant enterprise risks are identified, assessed, managed and reported on appropriately.

In delivering on the relevant enterprise risk management program, the Manager, works closely with other members of ERM, Executive Leadership Team (ELT), Business Unit heads, and management across the company and applicable subsidiaries to enhance relevant enterprise risk management processes and reporting. 

RESPONSIBILITIES

Manage the Enterprise Risk Management Reporting Framework:

  • Manage the preparation of enterprise risk management reporting (i.e. risk appetite models and metrics, key risk indicators, and risk control self- assessments) to meet or exceed the expectations for quality and timeliness.
  • Integrating Basel RDARR principles into ERM’s risk reporting.
  • Preparation of high-quality quarterly risk reporting to management and Board committees 
  • Development of specialized analysis, reporting and presentations on top and emerging risks for management and Board reporting, as required.
  • Identify trends in relevant key risk indicators and monitor action plans to address.
  • Design and develop new organizational dashboards and performance tools using data aggregation and visualization techniques.
  • Report on identified gaps and provide recommendations for improving internal control operations relating to data governance.
  • Develop and implement processes and tools to support the business units to capture and report relevant risk indicators and risk data on a timely basis to the expected level of quality to support enterprise risk reporting
  • Escalate issues on a timely basis

Support the Enterprise Risk Management program:

  • Conduct risk assessment interviews and workshops with the ELT and their senior leadership team to identify, and assess risks 
  • Provide constructive challenge to validate risk assessments and mitigation plans to address risks.
  • Support business in the development of their risk registers, risks, key risk indicators and mitigation plans. 
  • Support ad hoc special risk projects as required.
  • Provide support to enhance the enterprise risk management program, policies, standards, guidelines, procedures, reporting and training.
  • Foster the awareness of the company's risk management policies and procedures by providing on-going expert advisory and consultative support to all departments.

Research and remain current with emerging best practices in risk management, risk data aggregation, data visualization and reporting:

  • Research and evaluate leading and emerging industry practices and adopt continuous improvement principles to support success.
  • Continue to enhance enterprise risk management and reporting practices to advance program maturity. 
  • Monitor regulatory developments and consider and implement related to enterprise risk management, risk data aggregation and risk reporting to enhance the RDARR program.
  • Partner with relevant subject matter experts and business units to collaborate on the development of risk data and key risk indicators that will improve the effectiveness of risk identification and assessment. 
  • Partner with relevant subject matter experts and Technology teams to jointly design automated solutions and ensure complete, accurate, and timely reporting.

Support the Policy Governance program:

  • Responsible for the maintenance of the corporate policies register and road map and reporting.
  • Responsible for initiating policy review and update as per the policy register.
  • Responsible for the policy exception and policy risk acceptance process to help ensure that risks remain within Definity's risk appetite t
  • Research on emerging risks and regulatory policy requirements to support the creation and implementation of required policies. 

Provide support to key initiatives and Corporate Insurance Program:

  • Provide second line of defence input and constructive challenge to key initiatives to support the identification, assessment, management and reporting of key initiatives such that risks remain within Definity's risk appetite throughout the implementation and operationalizing of the key initiatives.
  • Support ERM's risk assessment and reporting on key initiatives and the Corporate Insurance Program.

REQUIREMENTS

  • University degree or equivalent combination of education and experience in risk management, compliance, finance, data science, computer science or related analytical field. 
  • 3-5 years of related experience in risk data aggregation, compliance, internal/external audit or enterprise risk management
  • 3-5 years audit experience in a Public Accounting firm, Management Consulting or a Public Company Internal Audit function is an asset.
  • Strong quantitative skills with demonstrated ability to design and create data dashboards, visualizations, or reports.
  • Understanding of property and causality industry is an asset.
  • Excellent stakeholder relationship management and influencing skills with the ability to effectively and constructively challenge stakeholders to drive appropriate risk management outcomes.
  • Ability to build strong relationships externally and internally with people from all levels to help foster a positive risk management culture.
  • Strong organizational and analytical problem-solving skills.
  • Excellent verbal and written communication skills.
  • Excellent Excel skills and proficient in Microsoft office products, SQL databases and Tableau.
  • Familiarity with GRC tools and reporting.

At Definity, we all work together to come up with big ideas — then bring them to life. We focus on our customers first, we bring our best, and we’re stronger together. If you’ve got the passion and the desire to help us reinvent insurance, let’s talk.

Salary Range: $77,100 - $142,000

Interested in this role, but don't meet every requirement? We encourage you to apply! We know from experience that a candidate doesn't need 100% of the qualifications listed to bring incredible value to our team. We're actively seeking diverse backgrounds and perspectives to help us make insurance better. At Definity, inclusion, diversity, and equity aren't just "nice to have" — they're essential to our success.

What's in it for you?

  • 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

Actual salary for the role may vary depending on work location of the successful candidate and other factors including but not limited to, skills, education, experience, working conditions and the local labour market.  In addition to base pay, eligible employees may participate in various incentive plans which are paid out at the discretion of the company and subject to individual and company performance.

Go ahead and expect a lot — you deserve it.
It's better here — but don't take our word for it. Definity was named by Great Place to Work® as one of the Best Workplaces™ in Canada for women, for youth, and for inclusion.

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].

Background checks
This role requires successful clearance of background checks (including criminal checks and leadership references).

#LI-Hybrid

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