Director, Risk Analysis

Director, Risk Analysis

MCAP at a Glance

Joining MCAP means you will be a part of our diverse workforce of highly talented individuals who are recognized for their expertise and success! At MCAP, your professional expertise, commitment to teamwork and passion for service excellence are recognized and rewarded with competitive total rewards offering, a career with continuous learning and development (formal & informal training), and exciting opportunities in a dynamic, entrepreneurial environment.

The Role

This role is responsible for supporting the Sr. Director – Risk Initiatives & Chief Compliance Officer (CCO) by leading the monitoring and measurement of risks as required to execute on the Enterprise Risk team’s second-line risk oversight function and the Chief Risk Officer’s (CRO) reporting to the Board of Directors. Working with the lines of business, the Director will design and document MCAP’s Risk Management Framework, including the documentation of MCAP’s tracked risk categories and associated risk tolerance (risk appetite). In addition, working with the lines of business, the Director will design and manage a Risk Dashboard that provides data-driven insights into MCAP’s risk posture, along with a comparison to MCAP’s stated risk appetite.

The Director will make recommendations to the CCO and CRO regarding which categories of risk to track, how to group risks together, how they can be measured, how the metrics can be analyzed, and how they can be reported and shared with the Risk Oversight Committee (ROC) and the Board of Directors. This role is accountable for maintaining updates to risks, risk categories, and risk appetite within the Risk Management Framework document.

This role will design, create, and maintain a dashboard of various metrics spanning multiple business lines and which are tied to MCAP’s tracked risks / risk categories. This role will also identify and present to the CCO and CRO, MCAP’s risk position (e.g., residual risk vs target risk). In developing the Risk Dashboard, the Director will collaborate with employees at all levels across all business lines to source accurate and reliable data. The Director will have a strong understanding of mortgage lending, the mortgage industry, MCAP’s business model and MCAP’s systems, and will apply this knowledge to design the Risk Dashboard and to validate the data sources used to maintain it.

Document MCAP’s Risk Management Framework

• Working with the lines of business, lead the re-design and re-write of MCAP’s Risk Management Framework document.
• Leverage knowledge of mortgage lending, the mortgage industry, MCAP’s business model, and Risk Management best practices to identify risks and risk categories that should be tracked within MCAP’s Risk Management Framework.
• Collaborate with the CCO, CRO, and internal stakeholders on the re-design of the Risk Management Framework document.
• Accountable for maintaining updates to risks, risk categories, risk mitigation activities and risk appetite within the Risk Management Framework document, including incorporating new and emerging risks. Interface with the lines of business to ensure timely mitigation of risk and reporting to Risk Oversight Committee.
• Lead the annual review of the Risk Management Framework document in preparation for Board approval.

Develop and Manage a Risk Dashboard

• Working with the lines of business, and leveraging existing dashboards, design, create and manage the production of a Risk Dashboard aligned with the risks defined in MCAP’s Risk Management Framework. The Risk Dashboard contains metrics that can be used to objectively assess the risk level of each of the tracked risk categories.
• Determine the metrics that will best provide insight into current risk levels.
• Leverage knowledge of mortgage lending, the mortgage industry, MCAP’s business model, and MCAP’s systems and processes when sourcing data for the dashboard.
• Working with the lines of business, and leveraging existing dashboards, determine target values for each metric that will identify when the metric is considered satisfactory, requires monitoring or requires follow-up/action as defined by MCAP’s risk appetite.
• Recommend to the CRO / CCO, target values for each metric that will identify when the metric is considered satisfactory, requires monitoring or requires follow-up/action as defined by MCAP’s risk appetite.
• Develop the Risk Dashboard (and keep it current) using best practices for data and information management. Work with the Data and Analytics team (DnA) within the ERMMA business unit to ensure compliance with MCAP data governance and data management practices.
• Ensure compliance with MCAP’s Data Handling Guidelines and maintain appropriate security for the Risk Dashboard.
• Collaborate with all business units to source accurate and reliable data to populate the Risk Dashboard.
• Accountable for the validity of the data and information captured in the Risk Dashboard. Includes, but is not limited to, independent testing/validation of data sources and analysis of data results to assess reasonableness.
• Ensure the Risk Dashboard provides meaningful and actionable information
• Ensure the Risk Dashboard can easily be shared with the Risk Oversight Committee (ROC) and used for input to the quarterly Enterprise Risk Report for the Board.
• Document the processes and procedures associated with the maintenance of the Risk Dashboard (e.g., clear documentation of data sources, data mapping, calculations, testing and data validation methods, etc.).

Risk Analytics and Reporting

• On a regular basis, analyze the results of the Risk Dashboard and provide a summary to the CCO / CRO, which outlines potential areas of concern, key areas of change, trending, etc.
• Design and develop new reporting that summarizes the analyzed results and can be shared at each quarterly ROC meeting.
• Create and develop new risk reporting appropriate for the second-line risk function, which includes monitoring risk levels across business units and corporate functions.

Project Management

• Determine critical tasks and milestones for project completion.
• Meet project deadlines and deliver quality results.
• Anticipate, identify and manage processes and key risks that impact project completion and/or project objectives.
• Track and monitor issues and manage issue resolution.
• Document and communicate status, issues and risks within scope of the project.
• Ensure project objectives align to business objectives.

Relationship Management

• Develop and maintain strong working relationships internally as well as with external advisors, subject-matter experts, and other external stakeholders.
• Facilitate ongoing communication and information sharing among compliance, internal audit and other risk management and governance functions.
• Promote risk awareness and risk culture across the organization.

Provide Leadership

• Provide leadership and direction for team members, for whom it will effectively achieve the team’s and business unit’s goals and objectives.
• Establish and maintain an effective system of communication throughout the ERMMA business unit and other business units within MCAP.

Stay current with emerging trends in Risk Management

• Attend conferences, read relevant publications, study websites of regulators and build a network within Canadian risk professionals to stay current with emerging thinking and trends within Risk Management
• Share insights with the CCO and CRO, and adjust key documentation and practices as required

(Future) Lead and Manage Staff

• Recruit, lead, develop and retain the right people that deliver and promote MCAP’s Values and risk culture. This also includes people who possess the skills to achieve the business unit and MCAP’s strategic objectives.
• Establish, monitor and communicate performance standards by reinforcing individual/team/corporate results and growth, work quality, innovation, continuous improvement, teamwork and achievement of MCAP’s corporate objectives.
• Establish goals and provide guidance to encourage development of employees.
• Identify gaps in performance and develop a plan for improvement.
• Develop staff in keeping with succession planning and ongoing business requirements.
• Provide regular coaching with goal of performance management and career development.

What You Bring To The Team

• 7+ years work experience in data analytics, dashboard development, data visualization, data validation, or equivalent.
• 3+ years working knowledge of mortgages/mortgage industry or 10+ years experience in the financial services industry
• Project management experience is an asset
• Strong interpersonal skills including proven ability to build and foster relationships
• Strong understanding of risk management principles and frameworks
• Strong understanding of the mortgage industry and monoline mortgage lenders
• Ability to analyze complex data sets and identify trends, anomalies, and risks
• Ability to simplify complex data sets into easy-to-interpret and actionable sets of information
• Proven ability to perform data analysis using Excel or business intelligence software
• Proven knowledge of programming languages used for data analysis (e.g., SQL)
• Proficiency in data visualization tools (e.g. Tableau, Power BI) and dashboard design best practices
• Microsoft Office/365 expertise (Word, Excel, PowerPoint, Thinkcell, etc.)
• Ability to establish priorities and work independently to achieve objectives
• Experience in managing projects, including planning, execution, and delivery within deadlines
• Capability to align risk management strategies with organizational objectives and influence decision-making
• Strong communication and interpersonal skills for engaging with various stakeholders (at all levels) and presenting findings clearly
• Skills in driving change initiatives and managing transitions in risk processes
• Experience in leading teams, mentoring staff, and fostering a risk-aware culture
• University degree (Finance, Mathematics, Economics, Business Administration or equivalent graduate degree or minimum 10 years of work-related experience in the financial industry) is required.

If this sounds like you and you are looking to be a part of one of Canada’s largest independent mortgage finance companies, then we want to hear from you!

Be A Part Of Something Great

MCAP is Canada’s largest independent Mortgage Finance company with over $150 billion in assets under management providing mortgage solutions for residential and commercial properties. For over 35 years, MCAP originates, trades, securitizes and services mortgages in offices across Canada. MCAP originates residential mortgages exclusively through the mortgage broker channel as we believe that a professional mortgage broker is a consumer's best option and MCAP actively promotes the services of mortgage brokers across the country. MCAP is also a leader in the Canadian residential construction lending market with over 25 years in the business. Our teams of dedicated professionals serve a variety of developer, construction and lender clients across Canada.

Position #: req1971

Employment Status: Permanent Full Time

Location: Toronto; Ontario

Number Of Openings: 1

Department: Enterprise Risk

Internal Job Title: Director, Risk Analysis

The above information in this description has been designed to indicate the general nature and level of work performed by employees in the position. It is not designated to contain a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.

MCAP provides equal opportunities for all applicants and is committed to fostering an inclusive, accessible environment, where all employees feel valued, respected and supported throughout the recruitment and employment process. If you require accommodation, we will work with you to meet your needs.