HSB Canada, part of Munich Re, is Canada's premier engineering-driven specialty insurer and provider of inspection, engineering and technology services that set the standard for excellence in the market. Our constantly evolving offerings lead the market in cyber, equipment breakdown, renewable energy, technology services, engineering based risk management and inspection services. We bring technical expertise to help our clients stay ahead of complex, emerging and technology-based risks. We dare to think big and we are continuously innovating on behalf of our clients. We recognize Diversity, Inclusion, and Belonging as key priorities and a culture that welcomes different thoughts and opinions.
HSB is much more! It’s insurance. Engineering. Technology. To learn more about us, please visit www.hsb.ca
Primary Objectives
The Senior Risk Management Analyst provides subject matter expertise in enterprise risk management, internal controls, and business continuity. The role serves as a key advisor to management and acts as the primary point of contact for external stakeholders, including regulators, auditors, and group entities.
Reporting to the Director of Risk Management, this role works closely with Integrated Risk Management associates across North American companies to support strategic risk, controls, and business continuity initiatives. The position operates with a high degree of autonomy, exercising independent judgment on complex matters while appropriately escalating enterprise-wide policy decisions. The Senior Risk Management Analyst leads projects and initiatives with confidence and accountability.
Risk Management and Reporting
Leads enterprise risk management activities by working directly with risk owners to ensure risks are appropriately identified, assessed, and managed across the organization. Ensures alignment with group risk management frameworks and consistency in risk practices.
Owns the quarterly risk reporting process from design through presentation, ensuring timely, accurate, and meaningful communication of the organization’s risk profile. Serves as the primary liaison with external stakeholders, including regulators and auditors, on Integrated Risk Management matters. Collaborates closely with HSB Group and U.S. Property & Casualty companies to align practices and share best practices.
Internal Controls
Manages the Key Controls Framework for enterprise risk and controls assessments, serving as the subject matter expert on control design and effectiveness. Designs, executes, and documents controls testing programs, ensuring appropriate coverage of operational risks and effective remediation tracking.
Oversees internal controls monitoring, operational risk reporting, and the full controls lifecycle, including updates, test planning, execution, remediation, and process flow reviews. Ensures alignment with HSB Group accounting compliance requirements. Develops and delivers training, workshops, and guidance to strengthen control awareness across the organization. Collaborates with U.S. P&C companies and HSB Group to ensure consistency.
Business Continuity
Maintains and administers the Business Continuity Management (BCM) strategy, data, and infrastructure through leadership of Business Continuity Leaders and Coordinators. Ensures the timely and orderly restoration of business activities following disruptions.
Identifies BCM exposures, ensures risks are assessed accurately, and confirms mitigation through effective Business Continuity Plans. Proactively identifies emerging threats and drives continuous improvement through testing, lessons learned, and strategic planning. Collaborates with U.S. P&C companies and HSB Group to align BCM practices.
Job Responsibilities:
- Lead the preparation, analysis, and expert review of materials supporting Corporate Risk Governance processes; provide strategic recommendations to senior management
- Own the identification, monitoring, assessment, and reporting of enterprise risks through quarterly Risk Report development and presentation
- Monitor, assess, and report on operational risks and controls effectiveness across the organization; provide insights and recommendations for improvement
- Develop, maintain, and administer the Business Continuity Management Program and Emergency Management Group, ensuring organizational resilience
- Enhance risk culture and awareness by designing and delivering education programs on risk management best practices to staff at all levels
- Manage the company's controls testing program; ensure appropriate controls are designed, implemented, and tested according to established frameworks
- Serve as subject matter expert and advisor to stakeholders on risk management, internal controls, business continuity, and regulatory requirements
- Drive process improvement initiatives to enhance risk management, controls, and business continuity capabilities
Qualifications
- University-level education in accounting, finance, business administration, economics, risk management, or equivalent professional experience in risk management and governance, internal/external audit, business continuity, or internal controls
- 5+ years of progressive experience in roles requiring advanced analytical and communication skills (Risk Management, Accounting, Underwriting, Audit), with demonstrated advancement in responsibility and scope
- Proven experience within Property & Casualty insurance or similar regulated financial institution (OSFI regulated), with demonstrated knowledge of regulatory requirements and industry practices
- Strong working knowledge of enterprise risk management frameworks, best practices, and current OSFI developments in risk management; ability to interpret and apply regulatory guidance
- Experience in business continuity practices, protocols, and standards would be an asset. Industry certification related to BCM (Business Continuity Management) would be an asset.
Knowledge and Skills
- Working knowledge of the insurance industry, including products, operations, and regulatory environment
- Deep understanding of operational risks and controls in a financial institution environment; ability to design and assess control frameworks
- Excellent interpersonal and communication skills (both oral and written); ability to influence and advise stakeholders at all levels including senior management
- Strong analytical and critical thinking skills; ability to understand, analyze, and clearly explain complex risk frameworks and regulatory requirements
- Project management and change management experience; proven track record of driving initiatives to successful completion
- Advanced proficiency with Microsoft Office suite (Word, Excel, PowerPoint, Outlook); comfort with technology and learning new systems
- Self-directed with strong organizational skills; ability to manage competing priorities and deliver results with minimal supervision
Company Benefits:
Together, we engage with everything we have and are, to help humankind act braver and better. Go further with HSB.
We are pleased to offer our employees great benefits and resources to support their mental, physical and financial wellbeing. These include:
- An engaging and collaborative environment that promotes continuous learning and development
- A hybrid work environment that combines weekly in-office and remote days
- A great compensation package including an annual company bonus
- Competitive company-paid flexible health and dental benefits, starting on your first day
- Flexible dollars provided by the company to put towards a Health Spending Account and/or Wellness Spending Account
- Wellness program with tools and resources supporting your mental, physical, and financial wellbeing – on and off the job
- Participation in the DC Pension Plan with a progressive employer contribution scale based on tenure starting at 4%, plus optional company match in the RRSP plan
- Generous time off including vacation, personal days, unplanned time, Statutory Holidays and company-wide early closure half-days
- Learning and development programs and resources, including unlimited access to LinkedIn Learning, Education Assistance Program, and reimbursement for professional fees
- Employee Referral Program and Recognition Program
Our base salary range for this role is between $108,360 and $126,420 per year , plus an opportunity for an annual company bonus based upon a percentage of eligible pay. The salary estimate displayed represents the typical salary range for candidates hired in this position. Factors that may be used to determine your actual salary include your specific skills, how many years of experience you have and comparison to internal equity.
This role is located in our Toronto office on 390 Bay St, and we operate in a hybrid work model.This job posting is for an exisiting vacancy.
We do not use AI in our recruitment process - applications are reviewed by our team to ensure a fair and personalized experience.
HSB Canada is committed to providing a work environment that is inclusive and free of employment barriers and discrimination. Accommodations will be made for qualified applicants with a disability throughout the recruitment process. If you receive a request for an interview and you have a disability which will require an accommodation to support your participation, please consult with Human Resources or contact hr@hsb.ca as soon as practical so that suitable accommodations can be arranged.
We thank all candidates for their interest; however only those selected for interview will be contacted.
