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Chief Risk Officer

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Canada Life

11d ago

  • Job
    Full-time
    Expert Level
  • Consulting
    Banking & Finance
  • Dublin

AI generated summary

  • You should have relevant qualifications, senior management experience, risk management knowledge, strong analytics, communication, influencing skills, and effective collaboration and leadership abilities.
  • You will implement and monitor a comprehensive risk management framework, ensure compliance, lead the ORSA process, and provide strategic risk insights to leadership and the board.

Requirements

  • The candidate should ideally have:
  • An appropriate professional qualification. While not a specific requirement, a risk, actuarial or accounting qualification would be an advantage.
  • Significant post-qualification experience including management experience at least at senior management level.
  • Risk management experience and / or a strong understanding of the operation of a risk management function would be an advantage.
  • A strong blend of risk, technical and analytics skills.
  • Excellent problem-solving and decision-making ability.
  • Excellent communication skills, and in particular, a proven ability to explain complex issues clearly and concisely to a wide range of stakeholders both in writing and verbal.
  • Strong influencing skills.
  • An ability to maintain independence from the business functions, to bring different perspectives and challenge constructively and effectively at all levels.
  • An ability to collaborate effectively with other all functions within the business and with Irish Life Group and GWL as required.
  • Strong leadership skills.

Responsibilities

  • Develop, implement and monitor ILH’s Enterprise Risk Management Framework.
  • Continuously enhance the framework, key risk indicators and supporting policies to ensure it remains fit for purpose and is providing effective risk management in line with Central Bank of Ireland Corporate Governance Code & Solvency II requirements.
  • Monitor compliance with the framework, escalate breaches, issues and insights to the Senior Leadership Team, the Board Risk Committee and Board as appropriate.
  • Ensure that the framework covers all aspects of risk – including financial risks, operational risks and IT/cyber risks. Adapt the framework as necessary for emerging or evolving risks.
  • Provide leadership to the organisation on risk management. Build on ILH’s existing strong risk culture and actively promote a culture of effective risk awareness, risk management and governance across the organisation, ensuring that the Risk Management Framework is well embedded in the first line of defence.
  • Ensure that effective processes are in place for the identification, measurement, management and reporting of significant current and emerging risks.
  • Brief the Board of Directors, the Senior Leadership Team and other decision makers on all risk related issues to ensure that management understand the risks and make well informed and robust business decisions.
  • Take a strategic and holistic view to risk management across ILH as well as providing risk advice and input on specific initiatives, decisions or issues as necessary.
  • Lead ILH’s ORSA process: Run a collaborative and robust ORSA process that is embedded in and adds value to the company’s decision making processes. Engage with the Board Risk Committee and Board throughout the ORSA process and present an ORSA report to the Board annually.
  • Develop and maintain an understanding of ILH’s business, including key financial, regulatory, operational and IT aspects.
  • Participate in discussions relating to ILH’s business planning and strategic development. Use risk insights and perspectives to provide constructive challenge to the Managing Director and Senior Leadership Team on the company’s strategic plans.
  • Nurture positive and open relationships with Irish Life Group and Canada Life Group risk teams, the Board of Directors and external regulators.
  • Ensure that ILH’s risk management framework, processes and reporting complies with Irish Life Group risk policies and standards.
  • Lead the Risk Function in a way that displays the highest level of integrity, honesty and good governance and commitment to the delivery of fair customer outcomes.

FAQs

What is the job title for this position?

The job title is Chief Risk Officer (CRO).

Is this position full-time or part-time?

This position is a full-time permanent role.

Where is the Chief Risk Officer role located?

The role is hybrid, based in our City Centre offices or Cork Office.

What kind of working model does the company offer?

The company offers a hybrid working model, allowing employees to work from home for part of the week and from the office for the remainder.

What benefits are included in the comprehensive benefits package?

The benefits package includes competitive salaries and bonuses, robust learning and development support, an excellent Defined Contribution pension, and comprehensive wellbeing initiatives and support.

What are the main responsibilities of the Chief Risk Officer?

The CRO is responsible for providing independent risk oversight, embedding a strong risk management culture, developing and implementing the Enterprise Risk Management Framework, and briefing the Board and senior leadership on risk-related issues, among other duties.

What qualifications are preferred for the Chief Risk Officer role?

While not a specific requirement, an appropriate professional qualification in risk, actuarial science, or accounting would be an advantage.

What type of experience is required for this role?

Significant post-qualification experience including management experience at least at the senior management level is required, along with risk management experience or a strong understanding of the operation of a risk management function.

Who will the CRO report to?

The CRO will have a dual reporting line to the ILH Director of Finance, Planning & Risk and the ILG CRO / Chief Actuary, as well as a direct reporting line to the ILH Risk Committee.

Are there any specific competencies required for this role?

Key competencies include problem solving and decision making, team working and cross-functional collaboration, planning and organizing, commercial awareness, communication and influencing, and risk and control.

Is this position subject to any regulations?

Yes, this role is a 'controlled function' as defined by the Central Bank Reform Act 2010 Regulations 2011 and is subject to the Fitness and Probity Standards issued by the Central Bank.

Does Irish Life promote diversity and inclusion?

Yes, Irish Life is committed to creating an environment of inclusion and growth, celebrating diversity of thought and perspective, and ensuring all employees feel valued and respected.

What should I do if I need accommodations during the recruitment process?

If you require any accommodations during the recruitment process, please contact lifecareers@irishlife.ie, and the company will ensure you are fully supported.

Canada Life

Helping Canadians improve their financial, physical and mental well-being.

Finance
Industry
10,001+
Employees
1847
Founded Year

Mission & Purpose

At Canada Life, we’re focused on improving the financial, physical and mental well-being of Canadians. Whether handling policy claims, help growing and protecting clients’ retirement and investment savings, providing workplace mental health support for all employers or helping build stronger communities by investing in community projects, we are committed to putting the customer first in all that we do. That trust is built on the dedication, skill and energy of our employees and advisors and their commitment to our customers and to our communities. Canada Life is a subsidiary of Great-West Lifeco Inc. and is a member of the Power Corporation group of companies.