The purpose of this role is to support the development and ongoing execution of a strong operational risk management program across Home Trust Company, and to provide independent oversight and challenge to ensure the Company operates within its risk appetite.
Support the implementation of the Operational Risk Management Framework including program strategy, standards, and tools in order to ensure effective processes to identify, measure, manage, monitor and report on Operational Risks.
Manage the process to obtain and incorporate, where applicable, feedback from the business units and support functions on changes in Operational Risk Framework.
Stimulate and improve the awareness of operational risk management through the development and delivery of a training and risk awareness program.
Lead the creation and analysis of monthly Operational Risk Reporting packages for Senior Management and the Board of Directors and other ad hoc reports as may be required from time to time (i.e. OSFI reviews and requests).
Facilitate the identification, assessment, reporting and monitoring of all significant operational risks through interaction with line of business and process owners and Senior Management to capture an overall entity wide self-assessment.
Ensure that all significant risks have mitigation plans developed as needed; monitor and report on their progress on a regular basis until completed.
Partner with colleagues to help drive a risk aware and risk intelligent culture.
Encourage an open environment for collaboration, risk identification, and remediation.
Assist in development, implementation and maintenance of a RCSA methodology and framework, including a training & awareness program as well as execution of the RCSA program across all business groups and support units.
Maintain awareness of and monitor significant risk and control issues within the business and monitor the status and appropriateness of remediation actions.
Ensure appropriate root-cause analyses and implementation of resulting control enhancements for significant operational losses and risk events.
Monitor Key Risk Indicators and other control metrics produced by the business and operational risk to identify negative trends and adverse risk exposures and ensure that the KRI’s being monitored and reported on are an accurate reflection of the most significant operational risks to the Company.
Conduct detailed risk reviews of emerging risks with the collaboration of internal subject matter experts.
Maintain awareness of significant changes impacting the business, both internally and externally.
Participate and contribute to management and improvement of the design and execution of various operational risk tools (E.g., external event analysis, internal loss data collection) and control initiatives as assigned.
Use outputs of operational risk management tools to identify and recommend business improvement opportunities (e.g. KRIs, Internal Losses and RCSAs).