City: North Vancouver

Chief Risk Officer (CRO)

In light of BlueShore’s continued asset growth as one of BC’s largest financial institutions and to prepare for the next stage of growth and digital transformation, we are advancing our risk maturity with the addition of a Chief Risk Officer (CRO) to the Executive Leadership Team. This role will report directly to the CEO and will lead the evolution of the enterprise-wide risk management policies and framework.

The CRO is responsible for ensuring that all areas of risk (including but not limited to cyber risk, credit risk, financial risks, operational risks including information technology, information security, corporate security, business contingency, AML/ATF, and legal & regulatory, and insurance, etc.) are managed in alignment with defined risk appetite and relevant provincial and federal regulatory obligations.

This role serves as a strategic partner to the CEO and Executive Leadership Team and is a key resource to the Board and its Risk Committee, acting as advisor on all risk and compliance matters. The incumbent in this role is required to develop, implement and maintain effective risk management strategies. The role must also lead and develop a team of specialized risk and compliance professionals, resolve complex issues both internally and externally including audit and regulatory bodies and provide direct and independent reporting to the Board and relevant Board subcommittees (e.g. Risk Committee, Audit Committee, Governance and Conduct Review Committee).

Closing Date:                January 28, 2022

Key responsibilities of this role are:

Leadership:

• Leads, oversees and is accountable for the enterprise-wide risk management policies and framework across the whole of BlueShore Financial, which includes defining risk appetite, the risk governance structure, and the approach to risk identification, assessment, monitoring and reporting, including reporting to the Risk Committee of the Board.
• Leads the enterprise risk management activities including registry, testing, periodic oversight reviews, physical risk assessments, asset quality reviews, risk and control self-assessments, business process mapping, enterprise-wide risk assessments and developing key risk indicators.
• Oversees and provides independent challenge to the first line of defense risk management practices, including escalation and/or resolution of critical risk issues.
• Leads the second line credit review process, for adherence and compliance against applicable lending policies and guidelines across the enterprise.
• Chairs the Management Risk Committee (MRC); builds relationships with the first line while having oversight of the second line.
• Directs the day to day implementation and management of the AML/ATF program; ensuring compliance with provincial and federal regulatory requirements.
• Leads and coordinates supervisory communications between regulatory bodies and BlueShore Financial including; managing the responses to recommendations; coordinating all aspects of on-site reviews; and delivering regulatory updates and key messaging to executive and the Board.
• Responsible for updates to the outsourced risk policy including assessing the oversight of third party relationship risk. Individual ELT member who holds the relationship is responsible for risk assessment of outsourcing, vendor relationships, mortgage brokers and external sales agents.
• Leads, develops and manages the risk management process, business contingency plan and key messaging.
• Oversees investigations of suspected or confirmed fraud incidents and security breaches by staff or clients and ensures good working relationship with law enforcement officials and financial community.
• Oversees the Risk and Compliance department and is accountable to ensure that the appropriate skills and capacity exist to perform the duties of their mandate.

Strategy and Change Management:

• Participates as an active member of the Executive Leadership Team by contributing to enterprise wide and departmental strategies, adding value from a risk management perspective while maintaining an enterprise-wide view.
• Advises ELT and the Board of key inherent risks and mitigation strategies involved in setting corporate strategy.
• Identifies and leads the enterprise risk management strategies to advance the BlueShore Financial vision and goals, demonstrating how risk and compliance initiatives both protect the organization’s interests and support business success.
• Executes a long term risk and compliance strategy, taking into account complex external factors, internal risk appetite framework, and emerging regulatory and legal requirements.
• Identifies, interprets and leads the change in implementing risk and compliance best practices.
• Functions as the risk expert/advisor to the business executives and others with regard to key business issues.
• Works in partnership with all business units, providing strategic advice, and leads the Risk and Compliance function to do the same.

Analytics:

• Develop methodologies to aggregate risk data, measure risk and provide quantitative and qualitative analytical support to the lines of business and executive teams.
• Leverages tools that identify, align, and build on BlueShore Financial’s risk management capabilities in order to protect BlueShore Financial’s interests.
• Leads the Risk and Compliance department in the analysis and evaluation of key risk indicators.
• Shares results of analyses with others across BlueShore to enable data driven decision making and support the BlueShore Financial digital strategy.

Compliance:

• In collaboration with various departments, utilizes enterprise risk management to implement effective practices in lending, credit solutions and collections including documentation of exceptions, quality control of applications and monitoring authority limits and controls.
• Collaborates with other line of business leaders to ensure the effective management of risk in various forms including but not limited to credit, IT, operational and cyber related risk across all lines of business.
• As Chief Anti-Money Laundering Officer (CAMLO), collaborates with Privacy Officer to ensure alignment with provincial and federal regulatory requirements and Privacy Acts.

Knowledge:

• Maintains a solid knowledge of the latest industry trends and best practices, ensuring optimal performance of the Risk and Compliance department, which in turn influences various departments and business overall.
• Plays an active role as a participant and thought leader in industry events, seminars and workshops.
• Monitors federal and provincial legislations in addition to evolving legal requirements. Ensures compliance with applicable provincial and federal regulations, disclosure requirements, and Market Code of Conduct.
• Ensures alignment of current industry risk trends with strategic direction of the organization and by providing insights and oversight in the spirit of compliance and continuous improvement.

 Qualifications and Experience

• Minimum of 10 years direct related experience
• Extensive leadership experience (minimum five years at the leadership level)
• Successful experience working with Boards of Directors and Board Committees
• University degree or related diploma, with an MBA/graduate degree preferred
• Minimum of five years in the financial services industry
• Proven experience in implementing and managing enterprise risk management strategy and governance, risk and compliance activities
• Strong relationship management and advocacy skills with regulators and other external bodies
• Proven leadership skills and ability to influence at all levels of the organization
• Experience in project/change management
• Superior communication, interpersonal and presentation skills
• Mastery level knowledge of investigative principles, practices and policies
• Mastery level knowledge of risk processes, regulatory frameworks, expectations and business impacts with a focus in the financial services industry
• Expert knowledge of internal security controls and procedures, including both IT and physical security
• Ability to work well within an Agile Business Model / approach (in support of business and digital transformation in the financial service industry)
• Strategic vision and thinking; strong capacity for strategic analysis