Int. Risk & Operations Specialist to support Private Wealth Team for large banking client - 40958
Job Type: Contract
Positions to fill: 1
Start Date: Jun 27, 2022
Job End Date: Apr 28, 2023
Pay Rate: Hourly: Negotiable
Job ID: 120518
Int. Risk & Operations Specialist to support Private Wealth Team for large banking client - 40958Location: Toronto (hybrid)
Duration: 10 months (possibility of extension or conversion to FT)
Supports the business/group leader in the effective implementation, maintenance and administration of first line of defense (1st LOD) programs (e.g., operational risk, AML, compliance, regulatory, etc.), including overseeing business operations within the jurisdiction to ensure adherence and efficiency. Contributes to a strong risk management culture through collaboration with other first line employees, and second & third line functions to ensure Compliance, AML or operational risks are identified, mitigated, monitored and reported on an ongoing basis.
The role will report to the Director – Business Support. This role is accountable for supporting financial and operational functions across the Private Wealth regions, developing business processes/policies & procedures and facilitating adherence with relevant standards, processes, methodologies, corporate polices and regulatory departments. This role will provide technical and operational support to the sales and support professionals in the regions and is required to liaise with Private Wealth branches, Wealth Management Operations, Technology, Compliance, Risk Management and other internal departments. This role also supports and an integrated and consistent approach towards operational functions, technology and data to assist with the efficiency and effectiveness of the region.
Must Have Skills:
- 4-6 yrs in a Risk/Compliance role
- Experience in an operations support
- Banking/Financial Industry experience
• Assists with the implementation of risk management programs/ frameworks while identifying and minimizing negative impacts to the business.
• Develops and implements risk mitigation strategies.
• Acts as a subject matter expert in the evaluation, development and implementation of an internal control system.
• Supports the execution of strategic initiatives in collaboration with internal and external stakeholders.
• Breaks down strategic problems, and analyses data and information to provide insights and recommendations.
• Builds change management plans of varying scope and type; leads or participates in a variety of change management activities including readiness assessments, planning, stakeholder management, execution, evaluation and sustainment of initiatives.
• Monitoring to ensure that 1st line jobs are following defined processes and procedures.
• Develops, documents and maintains business/group procedures updating and obtaining approvals as regulations or the operating environment changes and communicates changes to the business/group & relevant stakeholder groups.
• Supports the development of measurable sustainment strategies including assessing and recommending mitigations for industry/ segment-specific risks and prioritizing opportunities presented by internal and external stakeholders.
• Tracks exception/exemption requests and corresponding approvals.
• Builds awareness, knowledge, and skills and, as necessary, provides communication, practical tools and ongoing support including making presentations, to promote a culture of risk identification and management.
• Supports the management of 1st LOD program for the business/group in compliance with appropriate principles, standards & direction from the second line of defense groups. Includes developing and promoting program and ensuring the execution of all program components.
• Works with assigned business/group leaders to implement 1st LOD programs and frameworks, developing and maintaining an in-depth understanding of the applicable regulatory and internal risk management requirements. Interprets and provides advice on the application of the requirements for the business/group.
• Develops and maintains an understanding of the business/group strategies and objectives, products and services, internal and external stakeholders and business processes as well as the underlying infrastructure to identify and manage implications and risk exposures for the business/group.
• Identifies, investigates, analyzes, documents & mitigates program risks, taking into account jurisdictional issues, and raises any issues or concerns to senior leaders and other stakeholders.
• Analyzes the impact and effectiveness of the program through periodic reviews.
• Recommends adjustments to the overall program, policy or processes within the business/group in accordance with the Risk Appetite Statement, Governance and Corporate Policy.
• Supports the business/group through internal/external audits or regulatory examinations and assists in development of action plans to resolve any identified issues.
• Provides support to the development and delivery of training and awareness programs within the business/group to increase awareness of and compliance to risk management requirements.