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Home Canada Risk Management Specialist

Risk Management Specialist

Remote at Meridian credit union in Canada
Posted on January 13, 2021

Job details

Purpose of the Job: Reporting directly to the Director, Risk Management, the Risk Management Specialist is a member of Meridian Credit Union’s Risk Management Team, specializing in the execution of the enterprise-wide Risk and Control Self-Assessment (RCSA) program. The Risk Management Team is responsible for maintaining Meridian’s Enterprise Risk Management and Operational Risk Management Frameworks, implementing strategy for both, and maintaining broad oversight of Meridian’s risk profile. The team:
  • Performs and supports risk identification, assessment, and measurement to ensure that risk is being managed within Meridian’s Risk Appetite and regulatory requirements are being met;
  • Builds and maintains relationships with internal business partners and helps to ensure risk management is embedded in Meridian’s fundamental business processes; and
  • Supports the risk management functions and requirements of the Credit Union and its subsidiaries through consultation on processes and practices and operational risk within day-to-day functions and initiatives.
The role will be primarily work from home, but arrangements are subject to change and the incumbent must be able to commute to either the St. Catharines or Toronto Corporate Office as determined necessary. Key Responsibilities: The incumbent’s primary responsibilities encompass all aspects of executing, maintaining, reporting on, and continuously improving Meridian and motusbank’s RCSA program. In carrying out their responsibilities, the incumbent will build effective relationships across the organization and liaise with business units, risk subject matter experts, subsidiaries, external parties, and regulatory bodies to promote high quality, consistent, and valuable RCSA outputs. The incumbent will:
  • Lead RCSA planning and execution across all high-level critical motusbank processes, including
    • Development and maintenance of inventory of all material organizational processes
    • High-level assessment of all organizational processes for prioritization of full RCSA activity
    • Annual execution of RCSAs on all critical business units and processes and additional ad hoc assessments as risks are identified
    • Issue identification/resolution planning and reporting related to all RCSAs
  • Lead the documentation of all processes related to the RCSA program
  • As appropriate, lead execution of RCSA on additional Meridian Credit Union processes
  • Lead the assessment and, if deemed appropriate, selection and implementation of a technology solution to house all RCSA activities, and administer this solution once built
  • Proactively seek opportunities to expand and evolve the RCSA program
In addition to the responsibilities above relating to RCSAs, responsibilities may include supporting items from any of the operational risk areas managed by the Risk Management Team, including:

Operational Risk Management:
  • Partner with operational risk framework owners and actively contribute to the development of enterprise wide risk policies, frameworks, and mandates.
  • Support Risk Leadership in the oversight of Meridian’s ORM strategy and provision of support to the CEO & Executive Leadership Team in developing strategic decisions which align with Meridian’s risk appetite and profile.
  • Act as a trusted business advisor to internal partners with respect to risk management practices, processes, and procedures.
  • Provide leadership in the interpretation of regulatory developments and expectations regarding risk management, along with maintenance of risk policies.
  • Develop and maintain standard operating procedures for the risk management activities performed.
  • Support and manage the broader ERM, ORM, Business Continuity, and Insurance programs of all Meridian subsidiaries as required.
  • Administer the completion of operational risk assessments by working with process owners to identify relevant risk areas and connect with corresponding risk framework owners.
  • Coordinate and prepare materials for monthly Operational Risk Committee meetings, including quarterly Management and Board reports related to Meridian’s operational risk profile.
Business Continuity Management Program:
  • Maintain and oversee Meridian’s overall Business Continuity Management Program.
  • Coordinate the review and update process for Business Continuity Plans with Unit Business Continuity Representatives.
  • Develop annual Business Continuity exercises and participate in the execution and post-review of completed exercises.
  • Perform comprehensive reviews of Business Impact Assessments and Business Continuity Plans with Unit Business Continuity Representatives to ensure plans remain relevant and up to date.
Corporate Insurance Program:
  • Lead the annual renewal and update of all insurance policies in Meridian’s insurance program.
  • Monitor and assist as needed with all incident reporting and claims management.
  • Maintain subject matter expertise of all Meridian insurance policies and related processes to be able to respond quickly to questions from internal partners.
  • Participate in ongoing reviews of coverage with Meridian’s insurers to ensure an appropriate balance of coverage and cost efficiency is maintained.
Knowledge, Skills and Experience: Knowledge:
  • Expert knowledge of ORM methodologies, practices, and measurement systems, including the Three Lines of Defence model of risk management.
  • Working experience manipulating data using Excel or other programs.
  • Experience in addressing regulatory expectations while employed at a regulated financial institution.
  • Knowledge of OSFI and Basel requirements and guidelines would be considered an asset.
  • Strong understanding of deposit and lending products within a financial institution.
  • Degree or diploma preferably in Business or a quantitative field (such as statistics, finance, economics), with working knowledge of risk management principles and practices.
  • Certifications such as CRM, FRM, CFA, and/or CPA are not required but desirable.
  • A minimum of 5 years experience within the financial service industry, with experience working in a risk management capacity.
  • Experience with ERM frameworks such as COSO ERM and ISO 31000.
  • RCSA or relevant Internal Audit experience would be considered an asset.
  • Exceptional interpersonal skills with the ability to interact independently and competently with all levels of Management and staff.
  • Exceptional written and oral communication skills.
  • Business oriented, strategic, disciplined thinker.
  • Strong analytical and problem solving abilities.
  • Ability to multitask and quickly prioritize and resolve critical issues as they arise.
  • Outstanding skills in risk assessment and effective project management.
  • Proficient in Microsoft Office (Excel, Word, PowerPoint, Outlook).
  • Comfort working within and enhancing custom software; knowledge of GRC platforms would be considered an asset.
Experience the difference Thank you for your interest in Meridian Credit Union. Please note that due to the volume of applications, only those under consideration will be contacted for an interview.

Meridian is committed to providing accommodations for people with disabilities. Should you require an accommodation, we will partner with you to meet your needs.

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