Director, Enterprise Risk Management
Remote
Posting #: 25-51
Location: Corporate (Kitchener/Sault Ste. Marie/Remote)
Job Type: Regular, Full Time
Reports to: Chief Risk Officer
JOB SUMMARY:
The Director, Enterprise Risk Management has overall accountabilities for all aspects of enterprise risk management and is directly accountable to YNCU’s Audit Committee for all matters of enterprise risk, including the development of ongoing enterprise risk management policies, processes and procedures to ensure identification, measurement, monitoring and reporting of all risk assumed by YNCU. The Director is charged with the responsibility of balancing all stakeholder needs and interests, and ensuring YNCU operates at a best practice level, consistent with the Credit Union’s Enterprise Risk Management Policy.
RISK MANAGEMENT
• Provide leadership and guidance to all functional areas of the Credit Union related to the management of risk.
• Proactively establish and oversee appropriate enterprise risk management programs to ensure that YNCU operates within the appropriate risk levels.
• Develop, maintain and promote a risk conscious culture where opportunity and risk are appropriately balanced to support long term growth and profitability, while ensuring a risk-based optimization of business changes within the Credit Union’s risk tolerance.
• Track, monitor and report on all critical findings resulting from regulatory audits and examinations.
• Provide oversight of Risk Management reporting to measure compliance with policy, process & control objectives.
• Oversee the Credit Union’s property, casualty and bond insurance programs to ensure adequate, cost-effective coverage appropriate to the size, functional operations and complexity of the Credit Union.
• Maintain an inventory of all policies on an ongoing basis for the Credit Union, including Retail, Information Technology, Compliance and Risk Management Policies. Ensure all policies are updated as per requirements.
• Maintain, test and update business continuity plan (BCP).
• Maintain a list of all the third-party contracts, get contracts legally vetted as and when required.
• Fraud management for the credit union – investigations and determination of any claims to be paid.
• Complaints management – investigate member complaints and provide resolution.
PEOPLE LEADERSHIP AND DEVELOPMENT
• Provide leadership to assigned Team Members through effective goal setting, delegation, and communication, and drive the achievement of goals in responsible business areas.
• Liaise with and influence internal and external stakeholders to ensure continuation and growth of YNCU’s risk management culture, while seeking changes to improve effectiveness and efficiencies in policy and processes.
• Ensure that YNCU strategy is aligned with the risk appetite defined by the YNCU Board.
• Determine strategic direction for YNCU’s enterprise risk management program, covering YNCU’s new and existing business, ensuring speed of delivery and quality service.
• Participate as a key decision-maker on major projects and initiatives within YNCU.
RELATIONSHIP MANAGEMENT
• Keep the Chief Leadership Team, Risk Committee and Audit Committee of the Board appropriately aware of operational program strategies and challenges on an ongoing basis.
• Identify, prioritize and influence risk management and reporting activities in all functional areas, building strong relationships with the members of the YNCU Chief Leadership Team.
• Develop and maintain a close working relationship with the Credit Union Risk Committee and Audit Committee as a key advisor to this Committee.
• Provide support, cooperation and resources to the Internal Auditor and the Risk Manager to ensure the highest level of regulatory compliance at all times.
• Develop and maintain relationships with the regulators.
• This position acts as the primary contact for all regulatory inquiries.
KEY CHALLENGES
• Developing and maintaining a centralized Risk Management function that operates effectively and collaboratively with all departments, to deliver to all internal, competitive, regulatory and statutory requirements.
• Remaining current on regulatory, legislative, operational and financial risk management issues, in a fast paced and demanding environment.
• Developing risk management frameworks that complement a rapidly growing business.
• The Director is required to integrate YNCU’s risk management practices and controls into the YNCU business practices and policies.
QUALIFICATIONS
• Extensive knowledge of banking and issues related to the operation of a Credit Union in Canada.
• Experience in risk management techniques in the areas of Credit, Market, Liquidity and Operational Risk, with a good working knowledge of Strategic risk issues.
• An understanding of quantitative analytics and modeling techniques is an advantage.
• Sound knowledge of the Credit Unions and Caisses Populaires Act.
• Demonstrated strategic, tactical and analytical skills with the ability to link specific and emerging needs to the short and long term goals of YNCU.
• Ability to influence a broad range of stakeholders, at a variety of levels, in order to achieve common goals.
• Ability to perform in a fast paced, complex environment where regulator, Member, technology and business demand is growing at a rapid rate.
• Demonstrated solid reasoning and judgment skills in decision-making.
• Superior interpersonal, communication and change management skills
• A Bachelors degree at a minimum – Masters degree is preferred.
• Professional certification like FRM/CFA desirable.
• Minimum seven (7) years experience in banking, enterprise risk management/operational risk and/or risk modelling.
• Experience working in a financial institution with working knowledge of a banking systems is an asset.
• Ability to travel to all YNCU locations.
• Must be bondable.
Why work at YNCU?
YNCU employees get to be a part of the growing credit union movement and help us get the word out on why banking locally is so important. We’re your friendly, helpful, and financially savvy neighbour who provides tailored financial services to our members, supports small businesses, creates local jobs, and gives back to causes that matter. Through our Good Neighbours Employee Volunteer Program and Monthly Staff Donation Draws, we even let you choose the causes we donate to and support. YNCU is recognized for the following:
· Certified Ontario Living Wage Employer
· B Corp Certified
· Flexible work arrangements once fully oriented
· Competitive Compensation, Incentive Programs and Benefits
· Remote/working from home hybrid option once fully oriented
· 37.5-hour work week
· 7% matching pension
· Benefits are 100% paid for by YNCU
· 2024 Canada's Healthy Workplace Month Great Employer Award
· Wellness Initiatives including our Employee and Family Assistance Program, premium membership for Calm, Consult+, and LIFT Virtual Fitness
· Learning and Development Opportunities
· Paid Volunteer opportunities
· Fun and meaningful Employee Resource Groups
· Free bank account and discounted rates for Employees
YNCU strives to be a diverse workplace reflective of the communities that we live in. We are committed to a diverse workforce and invite everyone to apply. YNCU makes hiring decisions solely on qualifications, merit, and business needs at the time.
YNCU is an equal opportunity employer that is committed to diversity and inclusion in the workplace. We prohibit discrimination and harassment of any kind based on race, colour, sex, gender, religion, sexual orientation, national origin, disability, pregnancy, or any other protected characteristic as outlined by national, provincial, or municipal laws. This applies to all employment practices within our organization, including hiring, recruiting, promotion, termination, layoff, recall, leave of absence, compensation, benefits, and training.
Your Neighbourhood Credit Union will provide accommodations for persons with disabilities, where needed, to support their participation in our recruitment process. Please contact Human Resources at hrjobs@yncu.com