Director, Corporate Operational Risk Management

You are as unique as your background, experience and point of view. Here, you’ll be encouraged, empowered and challenged to be your best self. You'll work with dynamic colleagues - experts in their fields - who are eager to share their knowledge with you. Your leaders will inspire and help you reach your potential and soar to new heights. Every day, you'll have new and exciting opportunities to make life brighter for our Clients - who are at the heart of everything we do.

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.

Job Description:

About the job

Reporting to the Assistant Vice President, Operational Risk Transformation, the Director, Corporate Operational Risk Management (CORM) is accountable for the design, maintenance, and continuous improvement of Sunlife’s Operational Risk Management (ORM) Framework and supporting programs.

This role provides subject-matter expertise, independent Second Line oversight, and credible challenge across key operational risk disciplines. The Director supports enterprise transformation initiatives and strengthens program governance, practical application, analytical insight, and consistent execution across the organization.

The Director operates as a senior program leader and subject-matter expert, partnering closely with Business Group Risk Offices, First Line risk teams, Policy Owners, Corporate Risk Operations, and other key stakeholders. The Director is expected to translate operational risk concepts into simple, proportionate, and implementation-ready solutions that enhance operational risk capabilities and align with regulatory expectations and industry practices.

The role requires end-to-end accountability for assigned initiatives, from initial design and stakeholder decision-making through approval, implementation, adoption, and measurement of outcomes.

Sun Life’s Operational Risk Management Framework includes the following elements:

· Operational Risk Appetite, including qualitative and quantitative assessments

· Common risk language and operational risk taxonomy

· Consistent operational risk identification and assessment methodologies

· Internal and external operational risk event and loss data capture and analysis

· Risk and Control Self-Assessments

· Key Risk Indicators

· Scenario Analysis

· Issue Management and action-plan oversight

· Control documentation and control-effectiveness assessment

· Operational risk monitoring and reporting

· Second Line quality assurance, review, and challenge

What you'll be doing

· Lead the design, maintenance, and ongoing enhancement of the Corporate Operational Risk Management Framework and its core program components.

· Lead the development and implementation of operational risk tools, methodologies, and standards used to identify, assess, measure, monitor, and report operational risk.

· Translate complex operational risk concepts into clear, proportionate, and practical operating requirements for First and Second Line users.

· Establish the operating model, decision rights, roles, user journey, system boundaries, and measurable outcomes before progressing initiatives into detailed methodology, workflow, or system development.

· Maintain and update operational risk governance documentation, including policies, enterprise operating procedures, methodologies, standards, and guidance, ensuring clarity, internal consistency, regulatory defensibility, and practical usability.

· Provide independent Second Line oversight, review, and effective challenge of First Line operational risk practices, assessments, risk conclusions, and reporting outcomes.

· Challenge the reasonableness of inherent and residual risk assessments, control-effectiveness conclusions, risk responses, Risk Appetite alignment, and remediation effectiveness.

· Integrate insights across RCSAs, KRIs, operational risk events, Issues, controls, scenarios, audit and compliance findings, and other risk information to identify contradictions, concentrations, recurring themes, and systemic exposures.

· Partner closely with BGROs and First Line operational risk teams to support effective rollout and adoption of program enhancements, tools, and methodology changes.

· Lead stakeholder engagement through developed recommendations, clear options and trade-offs, defined decision requirements, and transparent disposition of feedback.

· Support the production and enhancement of enterprise operational risk reporting, including analysis, challenge, and validation of inputs.

· Contribute to the preparation of the quarterly enterprise operational risk profile for Senior Management and the Board, including data-integrity checks, cross-risk analysis, thematic insights, and clear escalation of material concerns.

· Use analytics, automation, and appropriately governed AI capabilities to improve the quality, consistency, coverage, and efficiency of Second Line oversight.

· Define and monitor measurable benefits for program enhancements, including adoption, coverage, quality, cycle time, efficiency, and risk-insight improvements.

· Deliver training and practical guidance on operational risk methodologies, tools, and expectations to First Line and risk partners.

· Support alignment with regulatory expectations by designing and implementing targeted program enhancements in response to emerging requirements.

· Monitor, assess, and benchmark Sunlife’s operational risk practices against peer institutions, regulatory expectations, and industry practices.

· Exercise end-to-end accountability for the quality, operational readiness, timely delivery, and successful implementation of assigned initiatives.

· Escalate unresolved design, ownership, stakeholder, or delivery issues before they affect development or implementation commitments.

· Where applicable, provide clear direction, coaching, quality review, and development opportunities to team members supporting assigned initiatives.

What you'll need to succeed

· 8+ years of experience in risk management within the financial services industry.

· Direct experience in corporate operational risk management or a closely related field, including methodology design, enterprise reporting, governance, and Second Line oversight within a federally regulated financial institution.

· Strong grounding in operational risk frameworks, internal controls, Risk Appetite, Issue Management, risk governance, and the Three Lines model.

· Demonstrated ability to design practical operating models and translate regulatory, policy, and methodology requirements into executable business processes.

· Solid understanding of risk identification, assessment, measurement, monitoring, and response techniques, with the ability to apply sound judgment in complex business environments.

· Demonstrated ability to analyze data, identify themes, reconcile contradictory risk information, and provide credible challenge with strong attention to detail.

· Experience integrating information across RCSAs, KRIs, operational risk events, Issues, control assessments, scenarios, and audit or compliance findings.

· Well-developed writing and presentation skills, including experience preparing executive- and Board-level materials.

· Proven experience drafting, implementing, and maintaining risk policies, enterprise procedures, methodologies, standards, or guidance.

· Strong stakeholder-management and influencing skills, including the ability to drive decisions without direct authority across multiple Business Groups and functions.

· Demonstrated ability to synthesize stakeholder feedback into clear recommendations and decision-ready deliverables.

· Experience navigating complex, ambiguous, and evolving risk landscapes while maintaining clear ownership, scope, and delivery discipline.

· Working knowledge of third-party risk management, technology risk, change risk, operational resilience, and related regulatory expectations.

· Experience using data analytics, automation, and responsibly governed AI to enhance risk oversight or quality assurance is preferred.

· Ability to balance strategic thinking with hands-on execution in a high-accountability, delivery-focused role.

· Demonstrated record of delivering approved and implemented outcomes within committed timelines.

· Openness to constructive challenge, adaptability in response to feedback, and the ability to simplify complex designs without compromising risk-management objectives.

What's in it for you:

• Being a member of the Sun Life family, a group of people united by our Purpose: to help Clients and Employees achieve lifetime financial security and live healthier lives.
• In 2024, Sun Life ranked among the top 100 most sustainable global corporations by Corporate Knights for the 15th consecutive year, leading Canadian insurers.
• We are proud to be on the 2024 Best Workplaces in Canada list by Great Place to Work.
• We’re also listed as one of the Best Workplaces for Women and Best Workplaces with Most Trusted Executive Teams.
• Our unique Sabbatical Program gives you the opportunity to take up to 6 weeks off, every five years.
• Care Days available for self-care or care of others (i.e., family or others you may support) and Sick Days to support your well-being.

The Base Pay range is for the primary location for which the job is posted. It may vary depending on the work location of the successful candidate or other factors. In addition to Base Pay, eligible Sun Life employees participate in various incentive plans, payment under which is discretionary and subject to individual and company performance. Certain sales focused roles have sales incentive plans based on individual or group sales results.

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 [email protected].

We are proud to be a hybrid organization that offers our employees the choice and flexibility to work from both the office and virtually based on the needs of the business, our Clients and you.

We may use artificial intelligence to support candidate sourcing, screening, interview scheduling.

We thank all applicants for showing an interest in this position. Only those selected for an interview will be contacted.

Salary Range:

130,000/130 000 - 180,000/180 000

Job Category:

Risk Management

Posting End Date:

19/11/2026