Senior Vice President and Chief Risk Officer (CRO) - 0004OB

Posting Date: May 14, 2024, 7:52:32 AM

Primary Location: Ontario-Ottawa

Job Type: Permanent

Schedule: Full-time

Description

Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian businesses make an impact at home and abroad. EDC offers financial products and knowledge to help Canadian businesses confidently enter new markets, reduce financial risk, and grow their business.

When you join our team, you’ll be helping Canadian businesses learn the endless possibilities that open to them through export and help bring their vision, passion, and innovation to the world. Your knowledge and expertise will support more than 25,000 Canadian businesses and their customers in as many as 200 markets worldwide. You’ll work amongst the best and brightest in an inclusive, collaborative environment that fosters professional development and success. And you’ll know that you’re making an impact every day – for businesses, for Canada and for the people you work with.

Are you ready to make an impact? Join EDC, recognized as a Top 100 and Top Family-Friendly Employer, as we take on the risk so Canadian businesses can take on the world. #LI-Hybrid

Team & Job Overview

Reporting directly to the President and Chief Executive Officer, the Senior Vice President and Chief Risk Officer (CRO) is accountable for providing leadership and oversight of Export Development Canada’s (EDC) approach to the effective management of an integrated enterprise risk portfolio, including financial, operational, strategic, cyber, ESG and other current and emerging risks.

The CRO is responsible for the identification, assessment, management, monitoring and remediation of key gaps to address compliance considerations, quantitatively and qualitatively measuring enterprise risks, risk appetite and risk culture, and effectively communicating the above in alignment with broader organizational strategy and values. In addition, the role is accountable for developing the risk maturity of the organization by continuously benchmarking EDC against peer organizations and best practice. The CRO will take a leadership role in enhancing the risk culture across the enterprise, positioning risk as an opportunity, and is available to provide independent guidance and advice regarding risk positioning. The CRO holds delegated authority from the President and CEO for many credit and non-credit risk decisions.

The role holds a critically important relationship with EDC’s Board of Directors and is accountable for ensuring that the Board’s risk strategy is implemented, monitored and appropriately reported. There is a “dotted line” reporting relationship for the CRO to the Chair of the Risk Management Committee of the Board of Directors.

KEY RESPONSIBILITIES

The CRO is a senior leadership position which sits on EDC’s Executive Committee and plays a critical role in formulating and influencing EDC’s strategic priorities and business planning, and ensuring risk governance framework is at the forefront of organizational decisions. Key areas of focus include:

• Executive Leadership: Develop strong relationships across the organization and leverage close collaboration with the Board to identify priorities, issues, and strategic challenges for the organization. Establish trust-based relationships with all members of the executive team and the CEO. Challenge assumptions, provide timely feedback and be an active contributor on the Executive Team addressing business opportunities, risks and other key strategic objectives facing EDC. Chair the EDC Risk Management Committee and interact frequently with the Chair of the Risk Management Committee of the Board.

• External Relationships and Representation: Represent EDC externally on matters related to risk management including at key domestic and international industry events as a speaker. Interact with customers to support the enterprise strategy while maintaining a balance of good governance. Forge relationships with key shareholder entities including the Department of Finance Canada, and establish connection points with relevant external parties to stay informed and abreast of trends and better practices and provide expert, future-focused independent guidance and advice.

• Integrated Risk Management: Oversee and mature the enterprise risk management framework. Ensure cohesive operation of the risk function across the enterprise, fostering an integrated implementation of the enterprise risk management framework, ensuring clearly defined roles and responsibilities among the three lines of defense and other supporting functions. Improve organizational resilience and adaptability to support scalability, enabling systems to provide comprehensive views to better serve EDC’s varying customers with wide-ranging needs across multiple industry segments and geographies.

• Risk Culture: In alignment with industry considerations, focus on enhancing the organizational risk culture by partnering with key internal stakeholders, promoting the desired culture across the enterprise, measuring culture quantitatively and qualitatively to identify risks, and linking performance management strategies to reinforce expected behaviours. Foster strong relationships and common vernacular between the risk functions and the first line (business) and the third line (internal audit).

• Risk Guidance and Value Communication: Ensure timely and effective dissemination of EDC’s risk appetite to provide employees with guidance in alignment with the articulation of EDC’s values. Communicate operational expectations, identify and assess organization-wide issues, suggest appropriate mitigating and remediation actions and ensure strategic and operational consistency across the organization of risk management activities.

• Compliance and Ethics: Maintain a sound and effective compliance program across the enterprise and all lines of business. This includes responsibility for the financial crimes, privacy, and ethics programs as well as compliance with laws and regulations. Run regular risk assessments across the compliance pillars to ensure integrity of the programs.

• Capital Management: Responsible for the management of EDC’s economic capital framework (ICAAP - Internal Capital Adequacy Assessment Process), in conjunction with the Chief Financial Officer. This includes internal target setting to ensure sound decision making at the transaction and portfolio level, managing IFRS9 and IFRS17 compliant models, running enterprise-wide stress testing, and setting financial risk limits.

• Team Leadership: Oversee the management of human resources within areas of responsibility by building an effective management team, encouraging continuous professional development, attracting quality talent to the organization, and developing a strong succession pool of candidates for key roles.

Broader Risk Oversight

Operational Resilience

• Enhance operational resilience strategy to ensure, prevent and respond to incidents and outages in order to protect services and operations, with emphasis on robust internal partner management and external relationship management of key vendors.

• Accountable for ensuring appropriate frameworks are in place with third parties to mitigate risks, identifying, assessing and managing operational, resilience and associated risks.

• Engage and partner with senior business leaders to understand long-term strategic resilience challenges and positively promote value of change.

Risk Culture

• Engage with key internal and external stakeholders to understand key trends and areas of concern. Work closely with the Board of Directors to understand their risk strategy and vision, actively leading remediation, monitoring and reporting of EDC’s day to day risk operations aligned with Board strategy.

• Foster a culture of risk management and compliance throughout the organization, partnering with full executive team to adopt an integrated and holistic organizational view of risk. Understands the cycles of existing and emerging risks and helps set the tone for coordination of the three lines of defense.

Governance Risk & Compliance (GRC)

• Continue to evolve enterprise governance practices, overseeing the integrated risk assessment process and developing and overseeing risk action plans.

• Responsible for oversight of the resilience program, including business continuity, disaster recovery, and incident response, as well as security policies and standards.

• Partner closely with key functions such as Audit, Legal, HR, and other business partners to ensure that GRC considerations are integrated into all aspects of the business.

Other Risks, including Cyber, Third-Party Management & Model Risk

• Oversight of the strategic enterprise cybersecurity risk management program and of the Vendor Risk Management teams to manage third-party relationships, reviewing the impact assessment of vendor relationships on the organization's risk profile.

• Responsible for ensuring there is a robust process for the development, validation, and monitoring (testing) of all models in the model environment across the organization.

• Ensure the risk monitoring and mitigation framework for the above is within the defined risk appetite, while overseeing implementation and continuous adaptation of the risk framework to industry standards.

Qualifications

Skills, Knowledge, and Experience

• Minimum 15 years of institutional risk leadership and management experience - ideally within the broader financial services sector.

• Significant experience dealing with complex risk management issues requiring extensive analysis, policy development, and resolution recommendations.

• Knowledge and experience of best practice risk management and governance frameworks, methodologies, and practices in relation to financial services.

• Strong leadership, talent development and interpersonal skills; relates to a variety of styles and can build trust and consensus in a team. Demonstrates energy, passion, and drive while ensuring people are treated with respect and humility.

• Strong critical thinking skills – ability to see across traditional risk disciplines, synthesize insights, and offer guidance without losing sight of the big picture. Able to manage different risk priorities with adaptive capabilities, processes and talent.

• Able to leverage technology and automate core processes to quickly identify and track risks.

• Robust data management and analytical capabilities – forward looking risk views through predictive modeling, scenario planning and data visualization.

• Experience managing relationships with government and financial regulatory bodies is preferred.

• Excellent communication/influence skills to clearly communicate complex information both written and verbally, including reports and presentations.

• Bilingualism in English and French (written and oral) is strongly preferred.

• Bachelor’s degree or equivalent in finance, accounting, banking, compliance, or relevant field, with a preference for a Master’s degree or additional relevant qualifications and certifications.

• Role location: Ottawa (preferred), Montreal or Toronto

Salary Range:

• SVP, Risk Management: Salaries are based on qualifications and experience and typically range from $277,400 To $333,100 plus a performance-based incentive.

Location

• Export Development Canada is a hybrid work environment.

• This role may be performed from EDC’s headquarters in Ottawa, or from the Community Hub in Montreal or Toronto.

• Relocation assistance is available for eligible candidates.

EDC's Commitment to Employment Equity

EDC is committed to employment equity and achieving a diverse workforce. EDC actively encourages applications from women, Aboriginal peoples, visible minorities, persons with disabilities and members of the 2SLGBTQI community. If selected for an interview, please advise us if you need any special accommodation.

How to apply

Only candidates selected for an interview will be contacted. : Application deadline on www.edc.ca/careers : Jun 21, 2024, 11:59:00 PM EDC is committed to employment equity and actively encourages applications from women, Aboriginal people, persons with disabilities and visible minorities. If selected for an interview, please advise us if you require special accommodation. Candidates must meet the requisite government security screening requirements. :

Req ID: 0004OB