Senior Manager, Enterprise Risk Management

Venture outside the ordinary - TMX Careers

The TMX group of companies includes leading global exchanges such as the Toronto Stock Exchange, Montreal Exchange, and numerous innovative organizations enhancing capital markets.  United as a global team, we’re connecting cross-functionally, traversing industries and geographies, moving opportunity into action, advancing global economic growth, and propelling progress. Through a rich exchange of ideas, meaningful collaboration, and a nimble operating model, we're powering some of the nation's most critical systems, fueling capital formation and innovation, bringing increased opportunity to business visionaries, product ingenuity to consumers, and career exploration to our team.

Ready to be part of the action?

Reporting to the Managing Director, Enterprise Risk, the Senior Manager, Enterprise Risk is a key partner to business units and corporate functions. This role is instrumental in achieving Risk Management’s objective of maximizing returns within sustainable, transparent, and well-understood risk parameters.
The Senior Manager will provide strategic oversight and daily management of the organization's enterprise risk program. Key responsibilities include managing the TMX insurance portfolio, overseeing incident response protocols, and driving the remediation of self-identified gaps.and other priorities as required.

Key Accountabilities: 

• Insurance Program Management & Strategy:

  • Conduct in-depth analysis of all insurance policies, understanding and clearly articulating coverage limits, deductibles, and exclusions to key stakeholders and senior management.

  • Work proactively with internal teams to identify emerging risks and ensure the insurance program is continually updated to address changing exposures.

  • Manage the insurance budget, including premium forecasting and cost allocation.

  • Lead the full end-to-end annual insurance renewal process, coordinating all necessary data gathering and submission materials.

  • Serve as the primary point of contact and manage the relationship with the organization’s insurance broker(s) and underwriters, ensuring optimal service, competitive terms, and cost-effective premiums.

  • Oversee and manage the end-to-end insurance claims process for all lines of business, including initial reporting, documentation, working with adjusters, and driving timely and favorable resolution.

  • Track and analyze claims data to identify trends, root causes, and areas for improvement in risk mitigation strategies.

  • Ensure all claims and supporting documentation are accurately recorded and maintained in compliance with legal and internal requirements.

  • Conduct comprehensive insurance due diligence on target companies, reviewing existing programs, identifying integration risks, and recommending required program changes post-close.

• Incident Response and Management Oversight:

  • Maintain and manage the Enterprise Incident Management guideline and provide training and support as needed

  • Overseeing the end-to-end incident response process, ensuring timely and effective triage, investigation, and resolution of significant risk events and incidents.

  • Leading or supporting post-incident reviews to identify root causes and systemic deficiencies that contributed to the incident.

• Self identified Gaps Management:

  • Implementing a systematic process to actively solicit, identify, and document deficiencies in the current risk management and control framework across business units.

  • Analysis and Prioritization: Conducting gap analysis to compare current controls against best practices and regulatory requirements, and prioritizing the remediation of those gaps based on the associated risk exposure.

  •  Developing, tracking, and challenging remediation action plans with clear ownership and deadlines to address the identified control and process gaps.

  • Utilizing the gap identification process to drive the continuous improvement and maturity of the overall ERM framework.

• Support the effective execution of the ERM program to relevant business units and corporate functions representing a majority of the revenue of TMX Group including:

  • Objectives certainty reporting with associated objective centric risk identification and treatment assessment process;

  • Supporting the first line of defense with identification of relevant risk exposures and existing and potential risk treatments;

  • Application of enterprise risk management policies to business unit and corporate function responses to risk exposures;

  • Supporting the first line of defense in applying the enterprise risk appetite to ensure that risks exposures are within acceptable levels;

  • Identify opportunities for the first line to enhance performance by optimizing risk exposures and eliminating redundant controls;

• Assist with the development of a sustainable enterprise-wide risk management program consistent with industry best practice and regulatory requirements that includes:

  • Effective and actionable risk appetite statements;

  • Practical risk management policy;

  • Efficient and sustainable risk management methodologies

• Advance the development of risk measurement and monitoring methods that leverage new technologies such as GenAI.

• Accelerate risk identification and assessment by synthesizing vast and diverse datasets, including unstructured information like news articles or regulatory filings, to uncover hidden risks and patterns..

• Liaise with colleagues in other second line roles (e.g. compliance) and internal audit to share observations, priorities and to coordinate activities taking into account the impact on relevant business and corporate units.

• Acts as a leader in the development and continuous reinforcement of a culture that recognizes and values the need for effective risk management;

• Be a visible and vocal contributor to a culture consistent with the “tone from the middle”;

• Create and take advantage of learning/teaching opportunities to make people aware of risks and create an atmosphere supporting positive and transparent responses to those risks;

• Support the development and delivery of enterprise-wide risk management communication and training initiatives;

• Recognize and support those individuals and business and corporate units that reflect the attributes of the desired risk culture

Skills and Experience:

• Bachelor’s degree in business administration, economics, finance or other relevant field

• Minimum of 10 years of relevant experience in a risk management function

• Excellent verbal, written and interpersonal communication skills

• Demonstrated interest in and working knowledge of Generative AI (GenAI) applications and tools to enhance efficiency in document review, data analysis, and risk modeling.

• Strong analytical, attention to detail and critical thinking skills

• Proven ability for practical and innovative problem solving

• Curiosity and a need to understand how things work

• Enthusiasm and energy combined with a clear sense of how to “make it happen” through teamwork, engagement and commitment

• Demonstrated knowledge of financial markets, the securities industry and the regulatory structure

• Ability to partner effectively with with multiple stakeholders on complex projects with excellent communication, facilitation and presentation skills

Nice to Have:

• Professional designation or working towards designation in risk management (FRM, PRM, CFA)

• Completion of the Canadian Securities Course

• Knowledge of Google for Work

In the market for…

Excitement - Explore emerging technology and innovation, as well as ventures and digital finance that shape the future of global markets! Experience the movement of the market while grounded in the stability of close to 200 years of success.

Connection - With site hubs in some of the world’s most multicultural cities, we leverage our size and structure to create rich connections and belonging while experiencing powerful global impact through our work.

Impact - More than a platform, we use our talents to power mission-critical systems that drive global economic advancement, innovation, and growth. As well, our employee-led Team Impact spreads social good via our giving strategy.

Wellness - From empathetic leadership to a culture of flexibility and balance, we believe wellness at work creates the maximum yield and a stronger “we”. Plus, with a cloud-first and hybrid workstyle, as well as generous time-off and leaves, we support a life well lived! 

Growth - From a growth mindset in our work, to expansion in our business, TMX is home to action-takers energized by the achievement of ambitious growth.

Ready to enrich your career with impactful work, leaders who truly care, and the flexibility and programs to help you thrive as part of #TeamTMX ? Apply now.

Please note that our company is not currently sponsoring work permit applications and the applicant must be authorized to work in the country where this position is located. 

TMX is committed to creating and sustaining a collegial work environment in which all individuals are treated with dignity and respect and one which reflects the diversity of the community in which we operate. We provide accommodations for applicants and employees who require it.