AVP, Operational Risk Transformation

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:

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.

What you'll need be doing

Operational Risk Transformation

·       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.

·       Risk Appetite, KRIs and Risk Measurement

·       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.

What you'll need to succeed

• University degree and professional designation with 10+ years of relevant experience, or equivalent combination of education and experience

• Professional designations such as CRM, FRM, PRM, CPA, CFA, CIA, or equivalent are preferred

• 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

• Deep knowledge of:

o   Operational Risk Management Frameworks

o   ISO 31000 Risk Management Principles

o   OSFI E-21 Guideline

o   BCBS Principles for Operational Risk Management

o   COSO Enterprise Risk Management Framework

o   Risk Appetite and KRI frameworks

o   Operational risk measurement methodologies

• 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.

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:

140,000/140 000 - 225,000/225 000

Job Category:

Risk Management

Posting End Date:

02/09/2026