Principal Analyst – Operational Risk in Ottawa, ON

Bank of Canada

Branch Ottawa ON CA

Principal Analyst – Operational Risk
Ottawa, ON

work experience in either domestic, global financial… official language (training may be provided to help the selected candidate reach the required level of…

Reporting to the Assistant Director, you support the establishment of the new operational risk division responsible for the identification, measurement, monitoring and management of the operational risk exposures that arise in FMD. This will include the ex ante identification of potential risks as well as the analysis and reporting ex post of operational risk events.

With guidance from the Assistant Director, you lead reviews of FMD processes, transactional as well as analytical, with independence, objectivity and due professional care. You are analytical, and can understand complex processes, identify key risks and recommend practical improvements to governance, reporting practices and controls pertinent to the financial markets. You prepare concise reports on past operational events, identify trends and provide appropriate recommendations to address areas of control weaknesses. You provide timely advice on new operations or system developments as they are being set up in order to improve the control framework in FMD.

You have in-depth knowledge of operational risk concepts, principles and methodologies and how they relate to the financial markets as well as their products and services. You are comfortable addressing complex issues with many unknowns and risks, and work well with others. You are results-driven in the achievement of the annual plan for the operational risk division and you demonstrate a commitment to excellence, thinking critically with respect to methods and ways to improve controls, add value and increase efficiency. You provide advice and guidance to others in the areas of governance, risk and controls.

You are expected to collaborate with the teams responsible for operations in FMD. You are comfortable communicating your findings verbally and in writing in a professional and concise manner. As the operational risk division grows, under the guidance of the Assistant Director, you will be expected to lead and guide the junior team members and ensure that the output of the team is of the highest quality and effective in implementing the division’s work plan.

Central Responsibilities: • have responsibility for the development of key aspects of policies and procedures, supporting the implementation of the operational risk framework, including policy statements on the management of operational risk in the department, risk and control self-assessments, implementation guidelines, operational risk governance framework and Key Risk Indicators •
lead, plan, execute and document reviews of FMD activities, based on a sound preliminary risk and control assessment, with objectivity and independence as well as due care and diligence as mandated by the operational risk framework in order to identify potential improvements in the areas of governance, reporting, risk and controls •
evaluate and apply a variety of practices and techniques in analyzing controls, and develop recommendations to improve risk-management, control and governance processes •
manage the development of a new framework for tracking, reporting and managing operational risk events, including recommendations on requirements for reporting tools, and produce regular and ad hoc summary reports and recommendations, as required, on the department’s operational risk exposures •
respond to requests for advisory services on risks and controls in the launch of new services or operations in FMD •
contribute to the development and lead the execution of the annual plan of work for the operational risk division •
develop and maintain proactive, effective and collaborative working relationships within FMD, as well as with other teams across the Bank that are involved in related issues, anticipating needs and risks to the achievement of their business objectives •
use strong business judgment and knowledge in assessing root causes and formulating appropriate recommendations •
effectively adapt communication style and delivery of review results and recommendations to various audiences, including facilitating workshops •
proactively monitor external trends or practices, communicating impact on the Bank and identifying opportunities for continuous improvement of FMD processes and operations •
plan and prepare communications, including recommendations to strengthen internal controls and reports, working closely with the Assistant Director

Key Requirements: • master’s degree in finance or economics and a minimum of five years of work experience in either domestic, global financial markets and/or risk

or •

an equivalent combination of education and relevant experience may be considered

in addition: •

English and French essential •
linguistic requirement: intermediate in second official language (training may be provided to help the selected candidate reach the required level of functional) •
strong planning, organizational and communication skills •
excellent analytical and problem-solving skills •
ability to analyze complex issues, diagnose multi-dimensional problems and devise appropriate responses •
good knowledge of broader financial market issues and developments, as well as economic/financial theory and quantitative methods •
ability to work proactively and influence others to achieve goals and make effective changes •
proven ability to promote collaboration across areas and to work collaboratively and effectively with others within the team, across teams and with other departments •
commitment to learning and self-development

Assets: • fully functional in second official language •
Chartered Financial Analyst (CFA), Financial Risk Manager (FRM) or accounting designation (CA, CMA, CGA)

Notes: • Condition of employment: Candidate must be eligible for secret clearance. •
Priority will be given to Canadian citizens and permanent residents. •
Relocation assistance may be provided, if required. •
Key benefits offered include: health and dental care, sick leave, paid vacation, short-term and long-term disability, life insurance and defined-benefit pension plan. •
Only the candidates selected for an interview will be contacted. •
The Bank of Canada benefits from the unique perspectives, attributes and talents of its diverse workforce. We offer flexibility to accommodate the needs of our employees and candidates. The Bank of Canada is committed to employment equity and actively encourages applications from qualified men and women, including Aboriginal peoples, persons with disabilities, and members of visible minorities. •
We will ask you to complete a mandatory questionnaire during the application process.

or proceed with Standard Application Form.

Employment Type: Full Time
Location: Ottawa, ON, CA
Posted on: 2014-09-13
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