Risk Management Specialist

Responsibilities:

• Assist in the development, implementation and improvement of risk management framework, strategy, policies, technologies, and tools.
• Manage and contribute to the implementation of initiatives and to drive desired risk culture through the organization.
• Manage and facilitate risk identification, assessment, and response process in consideration of the chosen business strategy and objectives at various levels.
• Identify emerging risks and risk indicators to assist in monitoring trends for new business initiatives and strategies.
• Provide subject matter expertise and conduct engagements that support management to explore opportunities and address risk concerns with a focus on optimizing organizational performance.
• Support the business in managing risk in compliance with regulatory guidelines, internal policies, and risk appetite.
• Create reports for management and BOD to ensure key stakeholders are informed of risks affecting business strategy.
• Maintain subject matter expertise on risk matters and engage in continual learning.
• Contribute to the risk management activities, including risk committee meeting preparation and support, meeting minutes, and follow-up on deliverables.
• Develop, foster, and maintain strong relationship with management and senior leadership, generate trust and understanding between stakeholders and risk management to position the team as independent and trusted advisor.
• Participate in and support the “Second Line of Defense” activities, including partnering with the operational teams on controls, risk assessment and operational incident and losses reporting,
• Contribute to the development and implementation of risk training for all employees.
• Conduct risk mapping exercise in collaboration with operational business functions. Monitor and analyze risk mapping self-assessments conducted by the operational teams and risk owners and monitor and report the risk mapping results.
• Contribute to the Own Risk and Solvency Assessment (“ORSA”) process by executing risk-related activities and analyses, including portfolio review and stress testing. Actively execute scenario analyses for Dynamic Solvency Testing and ORSA.
• Support the risk team’s reporting obligations internally and externally and ad-hoc requests.
• Contribute to the identification, research, and reporting of cybersecurity risks, including overseeing the vendor risk management and cybersecurity.
• Assure organizational compliance with all-risk policies, procedures, and guidelines.
• Participate in all department projects.

• Assist with responses to internal audit requests

Qualifications and Requirements:

• 2 – 3 years of experience in a similar business environment, preferably in insurance and financial services
• University degree in Actuarial Science, Economics, Finance or Business Management
• Sound understanding of enterprise risk management concepts and knowledgeable of specific risk areas such as financial and non-financial risk, IT risk, third party risk, and project risk
• Professional designation in a related field an asset (i.e. knowledge of COSO, CRM, Dynamic Solvency Test, ORSA..)
• Fluency in English is a must
• Result oriented problem solving skills
• Ability to negotiate and influence effectively while being open to perspectives and maintaining strong relationships
• Inclusive and collaborative work style with ability to delve into unique challenges and find creative solutions
• Operate with transparency and openness
• Internally motivated, intellectually curious, and self-confident
• Programming skills in Visual Basic, Pyton, Excel/macros, etc. is a plus