Top Benefits
About the role
Who We Are HomeEquity Bank is a Schedule 1 Canadian chartered bank and the leading national provider of reverse mortgages, with a growing portfolio. As the only bank solely dedicated to serving homeowners 55 and up, we’re passionate about helping Canadian homeowners live retirement on their terms. We live that commitment every day, with a range of reverse mortgage solutions that include our flagship CHIP Reverse Mortgage™ product.
Our Values, Our Passion At HomeEquity Bank, our values drive and inspire our actions with our customers, our partners and each other.
- Customer-Focused. Passionate Advocates
- Courage to Act. Do the Right Thing
- One Team. One Vision
- Think Long-Term. Ever-Evolving
- Be Exceptional. Inspire Greatness
Position Summary Reporting to the Director, IT, Data and Third-Party Risk Management, the Manager, Risk Management will assess risk throughout the Bank, focusing primarily on third-party risks and technology and third-party risk reporting. That individual will partner with the first line of defense in identifying, reporting, and mitigating third party risk issues and provide subject matter expertise in third party risk practices. That person will also assist the Director, Technology Risk in overseeing the completion of third-party risk assessments and controls testing, incident management and other duties as assigned. The role will serve as the second line owner of the third-party risk management framework and process, ensuring it remains current, effective, and aligned with regulatory expectations and best practices. It also includes ensuring compliance with regulatory requirements and guidance. The individual will support and maintain the Bank’s third-party risk management tool, ensuring it reflects evolving process and control requirements. As a second line of defense role, it will provide independent challenge to the first line. The Manager will also be responsible for second line reporting on technology and third-party risk, including risk metrics and executive reporting.
MAJOR ELEMENTS OF THE ROLE
- Act as the subject matter expertise (SME) on third-party risk management, providing independent challenge activities on assessments, remediation plans, and risk mitigation activities executed by the 1st Line of defense.
- Assess and monitor the Bank’s risks and exposures against the Board-approved Risk Appetite Framework and escalate material risks to drive effective risk-based decision making.
- Articulate and escalate risks promptly to drive the right discussions with the risk owners (including the senior leadership team) to address any significant risks
- Provide guidance on enterprise-level policies, standards and procedures ensuring alignment with risk appetite and regulatory requirements.
- Lead the preparation and delivery of second line risk reporting for technology and third-party risk, including executive-level reports and dashboards on risk metrics, KRI results and risk themes.
- Contribute to the drafting, maintenance, and enhancement of policies, procedures and methodologies, ensuring they are clear, consistent and actionable.
- Promote risk awareness throughout the Bank of third-party risks, and ensure that appropriate training is provided to Bank staff
- Support the enterprise ORM Framework by providing challenge on the following activities, including but not limited to:
- Risks and controls identification (RCSA) for core technology processes;
- Testing of key controls identified from the RCSA, and remediation on any identified gap;
- Technology risk related scenario analysis;
- Key Risk Indicators and metrics and monitoring on KRI results and mitigation action(s)
- Make and recommend policy, procedure and control enhancements as required to address emerging risks and regulatory changes
- Administer and continuously improve the Bank’s third-party risk management tool.
- Participate in audit and regulatory risk discussions, and Operations Committees as needed
- Liaise with regulators and law enforcement as required
- Oversee new initiatives and third-party risk assessments, ensuring appropriate due diligence has been performed.
Qualifications SKILLS AND EXPERIENCE REQUIRED
- Post secondary education or equivalent work experience
- 7+ years of experience in Compliance, Risk Management and/or Internal Audit in the financial industry
- Prior experience in control testing and reporting
- Exposure to Bank Act and OSFI Guidelines (B-10, B-13, E-21 and Integrity and Security)
- Proficient with MS Office applications (Word, Excel, PowerPoint)
- Experience in Process Unity configuration (nice to have)
Attributes
- Effective organizational, project and time management skills with the ability to prioritize, support and anticipate the needs of the department and deliver on concurrent projects with competing priorities
- A positive attitude, a desire to learn, and a willingness to persevere to get work done, either independently or as part of a team.
- Strong attention to detail and accuracy
- Well-developed analytical, problem solving and research skills
- Polished verbal and written communication skills, including experience in preparing and presenting reports to various levels of management
Working Conditions Unique to Job
- Hybrid work environment
WHY WORK AT HOMEEQUITY BANK? Great Environment HomeEquity Bank offers a hybrid working environment supported with a culture of flexibility – an approach that is unique to each person, and that enables both business and individual needs to be met in a mutually beneficial way.
We pride ourselves in recognizing and celebrating performance, community service, teamwork, and diversity among our employees.
A Dynamic Culture – With People at the Centre We believe our people make all the difference; our tireless commitment to inclusivity, professional development, and employee experience has been recognized through awards including the Greater Toronto’s Top Employers 2024,Waterstone Canada's Most Admired Corporate Cultures 2022-2023, the Globe and Mail's Report on Business: Canada's Top Growing Companies 2022 (third year since 2019), Canadian's Mortgage Professional (CMP) Top Mortgage Employer 2023 for the third year in a row and Achievers Top 50 Most Engaged Workplaces 2023.
Growth and Opportunities We provide challenging and rewarding careers in a wide variety of fields. We continuously develop and train our employees through professional growth opportunities and on-the-job training. We also encourage our employees to develop professionally and personally though a series of career developing programs including our Educational Assistance Program, designed to reimburse costs related to professional learning and development.
Celebrating Great Work and People We believe in an environment that celebrates success, knowledge, leadership, and work that is inspired by our core values. For these reasons, we have created several programs that make it easy for our employees to say ‘great job’ to their colleagues and leaders.
From our Appreciate! Program to the High Five Award Program and President’s Award Program, we recognize professional achievement with a variety of rewards including points towards gift cards, merchandise, and travel experiences, as well as group RRSP/DPSP contributions and more.
Our Community Leadership Program recognizes employees who make a positive impact in their communities through volunteer work with a grant for their charity of choice. Additionally, we provide employees with one paid day off each year to volunteer at their favourite local charity.
The Perks
- HomeEquity Bank offers a competitive total rewards package that includes:
- Extended health and dental benefits
- Employee & Family Assistance Program
- Employer-Matched Group Retirement Savings Plan
- Employee Share Investment Plan
- Well-being initiatives including: a wellness account; virtual self-care programs and extended mental health benefits
- Employee corporate discount for GoodLife Fitness
HomeEquity Bank is committed to an inclusive, equitable and accessible workplace. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.
Please note that our successful candidate is required to complete a background check.
Stay in the Know About Find out what we’re up to online, and learn more about what makes HomeEquity Bank a great place to work:
Youtube
Chip.ca
Join Us! If you’re ready to build the future of reverse mortgages, we want to hear from you.
About HomeEquity Bank
HomeEquity Bank is a Schedule I Canadian bank and is the only provider exclusively focused on reverse mortgages for homeowners aged 55 and over. HomeEquity Bank is a privately held company and helps Canadians live retirement their way by providing a safe, secure, and easy way to access the equity they’ve built up in their homes through their financial solutions, the CHIP Reverse Mortgage® and Income Advantage®.
HomeEquity Bank has been the leader of reverse mortgages in Canada since its inception in 1986. HomeEquity Bank has an effective direct-to-consumer distribution model as well as a well-established network of referral partners. This extensive partner network includes all major Canadian banks, credit unions, mortgage brokers, and financial planning firms.
Top Benefits
About the role
Who We Are HomeEquity Bank is a Schedule 1 Canadian chartered bank and the leading national provider of reverse mortgages, with a growing portfolio. As the only bank solely dedicated to serving homeowners 55 and up, we’re passionate about helping Canadian homeowners live retirement on their terms. We live that commitment every day, with a range of reverse mortgage solutions that include our flagship CHIP Reverse Mortgage™ product.
Our Values, Our Passion At HomeEquity Bank, our values drive and inspire our actions with our customers, our partners and each other.
- Customer-Focused. Passionate Advocates
- Courage to Act. Do the Right Thing
- One Team. One Vision
- Think Long-Term. Ever-Evolving
- Be Exceptional. Inspire Greatness
Position Summary Reporting to the Director, IT, Data and Third-Party Risk Management, the Manager, Risk Management will assess risk throughout the Bank, focusing primarily on third-party risks and technology and third-party risk reporting. That individual will partner with the first line of defense in identifying, reporting, and mitigating third party risk issues and provide subject matter expertise in third party risk practices. That person will also assist the Director, Technology Risk in overseeing the completion of third-party risk assessments and controls testing, incident management and other duties as assigned. The role will serve as the second line owner of the third-party risk management framework and process, ensuring it remains current, effective, and aligned with regulatory expectations and best practices. It also includes ensuring compliance with regulatory requirements and guidance. The individual will support and maintain the Bank’s third-party risk management tool, ensuring it reflects evolving process and control requirements. As a second line of defense role, it will provide independent challenge to the first line. The Manager will also be responsible for second line reporting on technology and third-party risk, including risk metrics and executive reporting.
MAJOR ELEMENTS OF THE ROLE
- Act as the subject matter expertise (SME) on third-party risk management, providing independent challenge activities on assessments, remediation plans, and risk mitigation activities executed by the 1st Line of defense.
- Assess and monitor the Bank’s risks and exposures against the Board-approved Risk Appetite Framework and escalate material risks to drive effective risk-based decision making.
- Articulate and escalate risks promptly to drive the right discussions with the risk owners (including the senior leadership team) to address any significant risks
- Provide guidance on enterprise-level policies, standards and procedures ensuring alignment with risk appetite and regulatory requirements.
- Lead the preparation and delivery of second line risk reporting for technology and third-party risk, including executive-level reports and dashboards on risk metrics, KRI results and risk themes.
- Contribute to the drafting, maintenance, and enhancement of policies, procedures and methodologies, ensuring they are clear, consistent and actionable.
- Promote risk awareness throughout the Bank of third-party risks, and ensure that appropriate training is provided to Bank staff
- Support the enterprise ORM Framework by providing challenge on the following activities, including but not limited to:
- Risks and controls identification (RCSA) for core technology processes;
- Testing of key controls identified from the RCSA, and remediation on any identified gap;
- Technology risk related scenario analysis;
- Key Risk Indicators and metrics and monitoring on KRI results and mitigation action(s)
- Make and recommend policy, procedure and control enhancements as required to address emerging risks and regulatory changes
- Administer and continuously improve the Bank’s third-party risk management tool.
- Participate in audit and regulatory risk discussions, and Operations Committees as needed
- Liaise with regulators and law enforcement as required
- Oversee new initiatives and third-party risk assessments, ensuring appropriate due diligence has been performed.
Qualifications SKILLS AND EXPERIENCE REQUIRED
- Post secondary education or equivalent work experience
- 7+ years of experience in Compliance, Risk Management and/or Internal Audit in the financial industry
- Prior experience in control testing and reporting
- Exposure to Bank Act and OSFI Guidelines (B-10, B-13, E-21 and Integrity and Security)
- Proficient with MS Office applications (Word, Excel, PowerPoint)
- Experience in Process Unity configuration (nice to have)
Attributes
- Effective organizational, project and time management skills with the ability to prioritize, support and anticipate the needs of the department and deliver on concurrent projects with competing priorities
- A positive attitude, a desire to learn, and a willingness to persevere to get work done, either independently or as part of a team.
- Strong attention to detail and accuracy
- Well-developed analytical, problem solving and research skills
- Polished verbal and written communication skills, including experience in preparing and presenting reports to various levels of management
Working Conditions Unique to Job
- Hybrid work environment
WHY WORK AT HOMEEQUITY BANK? Great Environment HomeEquity Bank offers a hybrid working environment supported with a culture of flexibility – an approach that is unique to each person, and that enables both business and individual needs to be met in a mutually beneficial way.
We pride ourselves in recognizing and celebrating performance, community service, teamwork, and diversity among our employees.
A Dynamic Culture – With People at the Centre We believe our people make all the difference; our tireless commitment to inclusivity, professional development, and employee experience has been recognized through awards including the Greater Toronto’s Top Employers 2024,Waterstone Canada's Most Admired Corporate Cultures 2022-2023, the Globe and Mail's Report on Business: Canada's Top Growing Companies 2022 (third year since 2019), Canadian's Mortgage Professional (CMP) Top Mortgage Employer 2023 for the third year in a row and Achievers Top 50 Most Engaged Workplaces 2023.
Growth and Opportunities We provide challenging and rewarding careers in a wide variety of fields. We continuously develop and train our employees through professional growth opportunities and on-the-job training. We also encourage our employees to develop professionally and personally though a series of career developing programs including our Educational Assistance Program, designed to reimburse costs related to professional learning and development.
Celebrating Great Work and People We believe in an environment that celebrates success, knowledge, leadership, and work that is inspired by our core values. For these reasons, we have created several programs that make it easy for our employees to say ‘great job’ to their colleagues and leaders.
From our Appreciate! Program to the High Five Award Program and President’s Award Program, we recognize professional achievement with a variety of rewards including points towards gift cards, merchandise, and travel experiences, as well as group RRSP/DPSP contributions and more.
Our Community Leadership Program recognizes employees who make a positive impact in their communities through volunteer work with a grant for their charity of choice. Additionally, we provide employees with one paid day off each year to volunteer at their favourite local charity.
The Perks
- HomeEquity Bank offers a competitive total rewards package that includes:
- Extended health and dental benefits
- Employee & Family Assistance Program
- Employer-Matched Group Retirement Savings Plan
- Employee Share Investment Plan
- Well-being initiatives including: a wellness account; virtual self-care programs and extended mental health benefits
- Employee corporate discount for GoodLife Fitness
HomeEquity Bank is committed to an inclusive, equitable and accessible workplace. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.
Please note that our successful candidate is required to complete a background check.
Stay in the Know About Find out what we’re up to online, and learn more about what makes HomeEquity Bank a great place to work:
Youtube
Chip.ca
Join Us! If you’re ready to build the future of reverse mortgages, we want to hear from you.
About HomeEquity Bank
HomeEquity Bank is a Schedule I Canadian bank and is the only provider exclusively focused on reverse mortgages for homeowners aged 55 and over. HomeEquity Bank is a privately held company and helps Canadians live retirement their way by providing a safe, secure, and easy way to access the equity they’ve built up in their homes through their financial solutions, the CHIP Reverse Mortgage® and Income Advantage®.
HomeEquity Bank has been the leader of reverse mortgages in Canada since its inception in 1986. HomeEquity Bank has an effective direct-to-consumer distribution model as well as a well-established network of referral partners. This extensive partner network includes all major Canadian banks, credit unions, mortgage brokers, and financial planning firms.