Senior Vice-President and Chief Risk Officer; CRO

Job Requisition : 11808

Sector: Chief Risk Officer

Position Status: Permanent Full Time

Position Type: Hybrid

Office Location: Ottawa (ON) preferred, Montreal (QC) & Toronto will be considered

Language Designation: Bilingual

Language Skill Levels (Read/Write/Speak): CBC

Travel Requirement: Occasional

Security Requirement: Secret

Salary Range: $270131.59 to $337664.49

We have retained the services of an Executive Search firm for this recruitment (Spencer Stuart). If your application meets all required qualification, it will be forwarded to the Executive Search Firm for further assessment. Applicants who have successfully passed the firm assessment will be invited for an interview with CMHC.

About CMHC

The work you do and the work we do together matters. We come to work every day with a common purpose: to contribute to a well-functioning housing system.

At CMHC, we hold ourselves accountable for our results and support our colleagues in their achievements. We thrive on collaboration, connecting across CMHC and involving the right people to get our work done. Our leadership style is guided by trust, where our leaders favour an adaptive approach based on the needs of their teams.

Join us and be part of a team that's committed to making a real difference and be part of something meaningful.

About the role

As a key member of CMHC’s Executive Committee (ExCo), the Senior Vice-Presdent and Chief Risk Officer reports directly to the President and CEO and is responsible for overseeing and managing CMHC’s risk management framework. This role involves identifying, assessing, and mitigating risks that could impact the organization's financial health and operational integrity. The SVP and CRO will collaborate with executive leadership and the board of directors to ensure a comprehensive approach to risk management aligned with the institution's strategic goals.

The SVP and CRO will also ensure CMHC’s compliance with all relevant legislation and regulations.

What you’ll do:

• Risk Management:
  • Design and implement a risk management strategy that aligns with CMHC’s overall business objectives.
  • Lead the identification, assessment, and prioritization (likelihood and impact) of risks across all areas of the organization to inform decision-making. Areas include insurance, policy, finance, and government program delivery and specific projects. Ensure the right level of capabilities and develop high-frequency stress tests.

• Regulatory Compliance: Ensure adherence to all applicable regulations and guidelines, maintaining up-to-date knowledge of regulatory changes affecting risk management practices.

• Risk Reporting: Develop and present risk reports to the Executive Committee and board of directors, providing insights into risk exposure and mitigation strategies.

• Risk Framework Oversight: Oversee the development and maintenance of risk management policies, procedures, and governance structures.

• Crisis Management: Establish and maintain a crisis management framework to prepare for and respond to potential risk events.

• Stakeholder Engagement: Engage with external stakeholders, including regulators, auditors, and industry groups, to promote best practices in risk management. Act as lead liaison with the Office of the Superintendent of Financial Institutions (OSFI).

• Collaboration: Work closely with internal stakeholders, including each member of the leadership forum, to integrate risk management practices into business processes.

• Risk Culture Promotion: Foster a strong risk culture across the organization, providing training and guidance to employees on risk awareness and management.

What you should have:

• An Undergraduate degree in a related field such as accounting, finance, business administration, commerce, actuary, or economics.

• A professional certifications (e.g., FRM, PRM, CFA) that demonstrate expertise in risk would be considered an asset.

• 15 (fifteen) years of relevant experience in senior/executive-level risk and compliance roles preferably in financial institutions.

• Proven experience working with an external regulator.

• Critical thinking, judgement, logical reasoning, and the ability to break down complex issues in manageable approach. Proven…