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The AVP Risk Management, SLF US supports the US VP & CRO in ensuring that the operation and strategic direction of the US Business Group is aligned with the Risk Management Framework and Risk Appetite. The role serves as the US Risk Team’s technical risk expert and provides input and challenge on all risks (including operational, market, credit, insurance). The incumbent provides strong independent challenge to the Business Units and sits on various Risk Committees. The role supports and facilitates strategic risk discussions and communication among Risk personnel and management, and facilitates discussions between the Business Units and the Corporate Risk units (Operations, Insurance, etc.) when necessary.
The incumbent provides strong oversight of management's 1st line of defense (LoD) risk management processes by:
Providing technical oversight which allows for the effective development and management of processes for assessing key risk exposures for SLF US (including emerging risks), coordinating with BUs and functional areas to develop a comprehensive in-depth risk exposure profile for the business overall; updates on an ongoing basis as new risks emerge.
Consults to and provides advice to BU 1st LoD risk management on risk strategy, and strong effective challenge on risk issues at BU and risk committees.
Using deep technical expertise, facilitates interactions between Business Group/Business Unit 1st LoD management teams and Corporate Risk functional areas on key technical risk issues (i.e. risk utilization, model risk, etc.); develops in-depth understanding of technical issues in support of VP & CRO and/or for Corporate CRO's endorsement/approval of resolution.
Provides strategic and planning input while facilitating Corporate Risk's process for allocating key risk limits to the Business Group, and allocation of total BG limits to BU-specific risks. Oversee BG/BU risk management practices and actions to ensure exposures are maintained within stated limits.
Builds collective knowledge of Risk Management by sharing best practices around technical risk content and provides/facilitates training on risk-based issues as required
Recommends to the US CRO alternatives to further enhance the use of risk metrics in advice and challenge management on risk issues, including optimization of use of risk capacity.
Provides expertise / guidance to BUs and functional areas in the key risk identification and emerging risks processes. Involved in discussions related to risk capacity utilization, challenge of BUs in decision-making process for addressing risk issues (risk limits, risk capacity utilization, risk / return trade-off, etc.).
Works collaboratively across the 2nd LoD functions to ensure sufficient oversight and challenge is being delivered in support of Enterprise Policies.
Specialized knowledge and skills
Excellent financial and business acumen will enable this individual to communicate effectively with members of finance, risk management, actuarial teams, and senior management.
Excellent communication and presentation skills are essential.
Excellent relationship building and influencing skills, adaptability, and credibility are essential traits. The individual must be self-assured and capable of working effectively with senior executives, business group leaders, and functional area leaders.
In-depth understanding of all key risks is a key aspect of this role.
A team-based, collaborative management style.
Must have a big-picture, strategic perspective, be well-organized and possess strong attention to detail.
A combination of strong project management skills as well as day-to-day operational management abilities.
Education and Experience
The ideal candidate will be an FSA and possess a minimum of 10 years of relevant experience in senior actuarial roles, with specific experience in financial risk management. Experience in consulting or a large, complex, global organization would be an asset as the candidate will be expected to work within a matrix structure. A high level of knowledge of accounting, capital markets, and investments would also be an asset.
Sun Life Financial is a leading provider of group insurance benefits in the U.S., helping people protect what they love about their lives. More than just a name, Sun Life symbolizes our brand promise of making life brighter – for our customers, partners, and communities. Join our talented, diverse workforce and launch a rewarding career. Visit us at www.sunlife.com/us to learn more.
Sun Life Financial (U.S.) Services Company, Inc. is a federal contractor subject to Executive Order 11246, Section 4212 of the Vietnam Era Veterans’ Readjustment Assistance Act of 1974, as amended, and Section 503 of the Rehabilitation Act of 1973, as amended. As such the company is committed to taking positive steps to implement the employment-related aspects of the company’s equal employment opportunity policy. It is the company’s policy to take affirmative action to employ, advance in employment, and otherwise treat qualified minorities, females, protected veterans, and individuals with disabilities without regard to their race/ethnicity, sex, veteran status, or disability.
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