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About the Role

The AVP, Operational Risk Transformation is a strategic leadership role responsible for designing and executing Sun Life's multi-year Corporate Operational Risk Management (CORM) Transformation Program. The role will lead the modernization of operational risk management capabilities across the enterprise, including the Operational Risk Management Framework (ORMF), Risk Appetite Statement (RAS), Key Risk Indicators (KRIs), risk measurement methodologies, issue management standards, governance, risk reporting, and risk analytics. The objective is to establish a mature, scalable, and data-driven operational risk management program aligned with leading industry practices and regulatory expectations. This role will provide independent 2LOD oversight, review, and challenge of operational risk management practices across Business Groups and Corporate Functions, ensuring consistency, regulatory compliance, and adherence to the Operational Risk Management Framework. The successful candidate will partner with Executive Leadership, Business Groups, Corporate Functions, Technology, Finance, Internal Audit, and external advisors to develop and implement transformational improvements that strengthen risk insights, risk governance, and risk-based decision making. This position requires deep expertise in operational risk framework design, risk appetite development, risk measurement and quantification, enterprise governance, and large-scale risk transformation. The role is accountable for building new enterprise capabilities and establishing sustainable methodologies that enable consistent management and measurement of operational risk across Sun Life globally. The scope of this role is global and reports to the Vice President, Corporate Operational Risk and Resilience.

Responsibilities

Lead development and execution of the multi-year CORM Transformation Roadmap.
Design and implement future-state operational risk capabilities aligned to ISO 31000, OSFI E-21 principles, and industry leading practices.
Drive enterprise-wide adoption of enhanced operational risk methodologies, standards, and governance.
Establish target-state operational risk processes, accountabilities, and operating model improvements.
Lead enhancement of the Operational Risk Management Framework (ORMF).
Establish and maintain operational risk standards, methodologies, and guidance.
Drive consistency of operational risk practices across Business Groups and Corporate Functions.
Identify framework gaps and lead remediation activities.
Lead redesign and enhancement of the Operational Risk Appetite Framework.
Develop enterprise KRI standards and measurement methodologies.
Establish approaches for risk appetite calibration and attribution across Business Groups.
Develop quantitative and qualitative approaches for measuring operational risk exposure.
Incorporate industry benchmarking and external data into risk measurement methodologies.
Provide independent 2LOD oversight, review, and challenge of operational risk management practices across Business Groups and Corporate Functions.
Ensure consistent application of enterprise policies, standards, and methodologies.
Challenge risk assessments, remediation strategies, KRI design, threshold calibration, and issue management activities.
Escalate material concerns, thematic issues, and emerging risks to senior management.
Lead enhancement of operational risk reporting, analytics, and management information capabilities.
Develop risk intelligence capabilities to support executive and Board decision-making.
Drive adoption of data-driven approaches to operational risk management.
Partner with Technology teams to evaluate emerging capabilities, including AI-enabled risk management solutions.
Monitor evolving regulatory expectations and industry practices.
Lead operational risk transformation activities arising from regulatory reviews and examinations.
Represent Sun Life in external industry forums, benchmarking activities, and operational risk working groups.

Requirements

University degree and professional designation with 10+ years of relevant experience, or equivalent combination of education and experience.
Experience within a federally regulated financial institution is strongly preferred.
10+ years of operational risk management experience in a financial services organization.
5+ years leading enterprise transformation programs and strategic initiatives.
Experience developing enterprise risk metrics, KRIs, and risk appetite programs.
Experience leading cross-functional transformation initiatives.
Demonstrated ability to influence senior executives and drive organizational change.
Strong analytical, strategic thinking, and problem-solving capabilities.
Exceptional stakeholder management and communication skills.
Proven track record of building and leading high-performing teams.
Experience leveraging data, analytics, and emerging technologies, including AI-enabled risk management solutions.

Skills

Operational Risk Management Frameworks
ISO 31000 Risk Management Principles
OSFI E-21 Guideline
BCBS Principles for Operational Risk Management
COSO Enterprise Risk Management Framework
Risk Appetite and KRI frameworks
Operational risk measurement methodologies
AI-enabled risk management solutions

Work Type

Hybrid

Experience Level

10+ years of relevant experience
5+ years leading enterprise transformation programs

Education Level

University degree and professional designation
Professional designations such as CRM, FRM, PRM, CPA, CFA, CIA, or equivalent are preferred

Salary/Compensations

140,000 - 225,000

About the Company

At Sun Life, we're driven by our Purpose: helping our Clients achieve lifetime financial security and live healthier lives. Our values shape how we work: caring, authentic, bold, inspiring, and impactful.
When you join Sun Life, you'll work with passionate colleagues and empowering leaders who support your growth and celebrate your contributions, so you can make a meaningful difference in our Clients' lives.
Discover how you can make a difference in the lives of individuals, families and communities around the world.

Equal Opportunity

Diversity and inclusion have always been at the core of our values at Sun Life. A diverse workforce with wide perspectives and creative ideas benefits our Clients, the communities where we operate and all of us as colleagues. We welcome applications from qualified individuals from all backgrounds.
Persons with disabilities who need accommodation in the application process, or those needing job postings in an alternative format, may e-mail a request to thebrightside@sunlife.com.