Senior Third Party Risk Consultant

Who is Allstate :

Allstate Insurance Company of Canada is a leading home and auto insurer focused on providing its customers prevention and protection products and services for every stage of life.

The company is proud to have been named a Best Employer in Canada for nine consecutive years and prioritizes supporting employees and fostering an inclusive, welcoming corporate culture.

Allstate is committed to making a positive difference in the communities in which it operates through partnerships with charitable organizations, employee giving and volunteerism.

Serving Canadians since 1953, Allstate strives to provide reassurance with its "You’re in Good Hands®" promise.

Through our Employee Value Proposition, Opportunity, Flexibility, Community, Diversity and Family, we have worked hard to develop and nurture a culture where employees feel valued, experience personal growth, have career options and truly enjoy the work they do.

Role Designation : Hybrid

Benefits to joining Allstate.

• Flexible Work Arrangements
• Employee discounts (15% on auto and property insurance, plus many other products and services)
• Good Office program (receive up to 400$ back after purchasing office equipment)
• Student Loan Payment Matching Program for Government Student loans
• Comprehensive Retirement Savings Program with employer matched contributions
• Annual Wellness allowance to support employees with improving health and wellbeing
• Personal reflection day
• Tuition Reimbursement
• Working within the community and giving back!

Job description :

Our team is growing, and we are actively looking to hire Senior Third Party Risk Consultant to embed risk management policies and standard across Allstate Canada Group.

Reporting to the Director, Corporate Risk, you will have an opportunity to design and develop third party risk & control framework, work with cross-functional teams to implement new risk and governance processes, lead risk projects and assist business stakeholders to proactively quantify and manage Allstate Canada Group risk.

The Senior Third Party Risk Consultant is regarded by the Business as a Subject Matter Expert in risk management who consults with them regularly on risk matters.

Accountabilities :

• Develop and maintain partnership with business functions and provide expert support to help business stakeholders proactively identify, assess, and monitor operational risk.
• Perform operational and third-party risk assessments by leveraging data analytical and advise business stakeholders on risk mitigation strategies and track them to completion.
• Develop, implement and improve third party risk management framework, guidelines and procedures to ensure effective risk controls and mitigation.
• Support the development of operational and third party key risk indicators (KRIs), setting quantitative and qualitative risk threshold limits for key projects and conducting scenario / trend analysis and KRI benchmarking.
• Provide support in enabling effective management of operational risk at all levels by training and coaching business partners on operational risk management best practices such as developing policies and guidelines.
• Ensure that third party risk framework is aligned and integrated with ACG’ business processes.
• Ensure third party risk and operational risk requirements are implemented and monitored on a timely and comprehensive basis, ensuring compliance with regulatory (e.

g. OSFI) risk management guidelines and internal risk appetite.

• Support & consult on business / IT initiated Projects that require input and support by Corporate Risk Management
• Deliver governance requirements and in-depth assessment relating to Third party risk management, Business Continuity, Cyber Incidents, Operational resilience etc.
• Project Lead for risk mitigation projects being delivered by Corporate Risk function.
• Deliver optimal operational risk management reporting with appropriate risk metrics.
• Assist in tracking and reporting on risk events and work / consult with the respective business units to perform root cause analysis, identify mitigating actions and track the actions to closure.
• Ability to interact with different levels in the organization and to provide key messages to senior management.
• Ability to translate regulatory requirements into operational requirements and develop framework based on size, complexity and scope of organization
• Partner with procurement, finance and compliance stakeholders on implementation of TPRM
• Ensure adherence and compliance to TPRM framework, including providing reporting and attending governance meetings with key / critical third parties ensuring SLAs are being met

Qualifications :

• Education or equivalent working experience : Business or technology undergraduate degree, risk management designation
• Minimum 7 years’ experience in Risk Management or similar capacity with strong analytic ability
• Knowledge of P&C Personal Lines is an asset.
• SME in Third party B10 space and requirements
• In depth knowledge and practical implementation of Risk Frameworks such as COSO, COBIT are desired. Knowledge of risk management practices and oversight functions
• Knowledge in Cyber space is an asset.
• Experience in leading a project is an asset.
• Knowledge and experience working in the Insurance Industry is an asset.
• Knowledge of Operational Risk Management and Third Party Risk framework implementation is an asset.
• Ability to interact with different levels in the organization and to provide key messages to senior management.
• Strong analytic skills
• Critical thinking and problem-solving skills.
• Strong written and oral communication skills
• Attention to details and ability to influence others.
• Business knowledge relating to Insurance Industry and associated Regulatory requirements.

Allstate Canada Group has policies and practices that provide workplace accommodations. If you require accommodation, please let us know and we will work with you to meet your needs.