Senior Vice-President and Chief Risk Officer (CRO)

We have retained the services of an Executive Search firm for this recruitment (Spencer Stuart).  If your application meets all required qualification, it will be forwarded to the Executive Search Firm for further assessment.  Applicants who have successfully passed the firm assessment will be invited for an interview with CMHC. 

About CMHC

The work you do and the work we do together matters. We come to work every day with a common purpose: to contribute to a well-functioning housing system.

At CMHC, we hold ourselves accountable for our results and support our colleagues in their achievements. We thrive on collaboration, connecting across CMHC and involving the right people to get our work done. Our leadership style is guided by trust, where our leaders favour an adaptive approach based on the needs of their teams.

Join us and be part of a team that's committed to making a real difference and be part of something meaningful.

About the role

As a key member of CMHC’s Executive Committee (ExCo), the Senior Vice-Presdent and Chief Risk Officer reports directly to the President and CEO and is responsible for overseeing and managing CMHC’s risk management framework. This role involves identifying, assessing, and mitigating risks that could impact the organization's financial health and operational integrity. The SVP and CRO will collaborate with executive leadership and the board of directors to ensure a comprehensive approach to risk management aligned with the institution's strategic goals. The SVP and CRO will also ensure CMHC’s compliance with all relevant legislation and regulations.  

What you’ll do:

• Risk Management: 
  • Design and implement a risk management strategy that aligns with CMHC’s overall business objectives. 
  • Lead the identification, assessment, and prioritization (likelihood and impact) of risks across all areas of the organization to inform decision-making. Areas include insurance, policy, finance, and government program delivery and specific projects. Ensure the right level of capabilities and develop high-frequency stress tests.

• Regulatory Compliance: Ensure adherence to all applicable regulations and guidelines, maintaining up-to-date knowledge of regulatory changes affecting risk management practices.

• Risk Reporting: Develop and present risk reports to the Executive Committee and board of directors, providing insights into risk exposure and mitigation strategies.

• Risk Framework Oversight: Oversee the development and maintenance of risk management policies, procedures, and governance structures.

• Crisis Management: Establish and maintain a crisis management framework to prepare for and respond to potential risk events.

• Stakeholder Engagement:  Engage with external stakeholders, including regulators, auditors, and industry groups, to promote best practices in risk management. Act as lead liaison with the Office of the Superintendent of Financial Institutions (OSFI).

• Collaboration: Work closely with internal stakeholders, including each member of the leadership forum, to integrate risk management practices into business processes.

• Risk Culture Promotion: Foster a strong risk culture across the organization, providing training and guidance to employees on risk awareness and management.

What you should have:

• An Undergraduate degree in a related field such as accounting, finance, business administration, commerce, actuary, or economics.  

• A professional certifications (e.g., FRM, PRM, CFA) that demonstrate expertise in risk would be considered an asset. 

• 15 (fifteen) years of relevant experience in senior/executive-level risk and compliance roles preferably in financial institutions.

• Proven experience working with an external regulator.

• Critical thinking, judgement, logical reasoning, and the ability to break down complex issues in manageable approach. Proven ability to evaluate situations, draw conclusions and develop effective solutions. 

• Extensive experience and credibility communicating and influencing leadership teams and boards, as well as navigating complex organizations. 

• Proficiency in quantitative risk models and assessment methodologies (e.g., Value at Risk, stress testing) and familiarity with risk modeling tools (e.g., R, Python).

• Proven leadership skills and experience leading mid-to large-sized teams.

• Understanding of CMHC’s mandate, its business objectives, its policies, programs and products, its major interdependencies, and its regulatory framework. 

• Advanced oral and written (French and English) communication skills including presentation, negotiation, and persuasion skills to present to Executive and Board members.

Posting closing date: Note, the competition will remain active until filled.

Our commitment to diversity, equity, and inclusion 

We’re committed to employment equity and encourage women, Indigenous Peoples, persons with disabilities, veterans and persons of all races, ethnicities, religions, abilities, sexual orientations, and gender identities and expressions to apply. We also welcome applications from non-Canadians who are eligible to work in Canada.

CMHC is an inclusive workplace where diversity of thought – and of people – are recognized, valued, and considered essential to achieving our mission. While positions at CMHC require some in-office presence, alternative work arrangements may be considered for self-identified Indigenous candidates that resides further than 125KM from a CMHC office or First Nation on-reserve candidate. 

Learn more about our commitment to diversity and inclusion 

•    If you require a medical accommodation, please include this in your application.
•    Selected candidates may be required to do a presentation or assessment as part of the interview. If so, they will be advised in advance.
•    Your application must clearly demonstrate how you meet the requirements.
•    We sincerely thank all candidates for their interest, however, please note that only those applicants selected for further consideration will be contacted.