Senior Advisor Audit, Risk & Compliance (ERM STREAM)
City : Toronto
Category : Internal Audit
Industry : Public Transportation
Employer : Toronto Transit Commission (TTC)
Requisition ID: 7386
Number of Vacancies: View on TTC website
Department: Audit, Risk & Compliance (20000052) - Internal Audit (30000088)
Salary Information: View on TTC website
Pay Scale Group: 10SA
Employment Type: View on TTC website
Weekly Hours: View on TTC website, Off Days: View on TTC website Shift: View on TTC website
Posted On: March 8, 2023
Last Day to Apply: March 26, 2023
Reports to: View on TTC website
The Toronto Transit Commission (TTC) is North America's third largest transit system and has been recognized as one of the top places to work in the GTA. Guided by a forward-thinking strategic plan, the TTC's vision is to be a transit system that makes Toronto proud. The TTC's recruitment efforts are directly aligned to its mission of providing "a reliable, efficient, and integrated bus, streetcar and subway system that draws its high standards of customer care from our rich traditions of safety, service and courtesy."
Reporting to the Manager, Audit, Risk & Compliance, the incumbent will facilitate the implementation of an enterprise risk management (ERM) function at the TTC including providing guidance on and applying the TTC’s ERM Framework to ensure key enterprise risks are identified, assessed, evaluated, monitored and reported on a regular basis. The department’s reporting of enterprise risks and audit and advisory projects are subject to public reporting and help drive continual improvement in the TTC’s governance, risk management and internal control systems.
The incumbent will stay current with professional and transit industry trends by meeting ongoing continuing professional development and training requirements; and contributes to improving departmental processes.
Key Job Functions
- Provides ongoing input and support for the implementation and continuous improvement of the TTC’s ERM Framework in accordance with industry best practices and enterprise risk management standards (i.e., 2017 COSO ERM Framework, ISO 31000) and facilitates the periodic reporting of ERM activities to the Audit Risk Management Committee (ARMC);
- Applies risk expertise and uses formal risk assessment methodologies to support the identification, assessment and prioritization of key enterprise risks and to provide guidance to Risk Owners and their staff as to which enterprise risks are most significant and their relevance to business objectives;
- Supports Risk Owners in understanding the TTC’s ERM Framework and their accountability for managing enterprise risks and presenting the status of their applicable enterprise risk(s) to the ARMC/Board as required;
- Supports Risk Owners and their staff to execute their responsibility for applying individual risk management frameworks sufficiently and appropriately by collaborating to evaluate exposures, risk event causes, controls, and risk mitigation options appropriate to a public sector environment;
- Researches transit industry trends related to the TTC’s enterprise risks, keeps abreast of enterprise risk management standards to ensure ARC’s work is aligned with the TTC’s ERM Framework and maintains expertise in the use of risk analytic tools (e.g., Bowtie analysis).
- Supports the Manager, ARC in designing tools/dashboards and delivering training/guidance to facilitate Risk Owners and their staff to complete risk summaries, risk reporting to the ARMC/Board and other deliverables as requested.
- Responsible for treating passengers and employees with respect and dignity and ensuring the needs of passengers or employees with disabilities are accommodated and/or addressed (within their area of responsibility) in accordance with the Ontario Human Rights Code and Related Orders so that they can fully benefit from the TTC as a service-provider and an employer.
Education and Experience
- Completion of a Bachelor and/or Master degree in a relevant discipline (e.g. Risk Management, Accounting/Auditing, Business, Engineering, Mathematics/Statistics, Data Management/Sciences), OR a combination of relevant education, training and experience deemed to be equivalent;
- Several years of related work experience in the field of enterprise risk management, auditing, project management and/or data analysis, with exposure to various types of business processes, governance, risk management and control processes
- Experience supporting the implementation of risk management frameworks and facilitating risk assessments by providing support to multidisciplinary teams, including identifying areas for risk reduction and options such as risk avoidance, transfer, mitigation and acceptance;
- Experience in the identification, analysis, evaluation, treatment, monitoring and reporting of risks to senior Leadership and governing parties;
- Experience applying a variety of risk assessment methodologies (e.g., Bowtie, HIRA and/or Fault-Tree) and related risk management practices, including analysis of risk models and use of analytic tools;
- Experience with Microsoft Office products and other visualization, business intelligence and database tools (e.g. SQL);
- Professional designation/certifications such as Canadian Risk Management (CRM) or Certified Internal Auditor (CIA) or Project Management Professional (PMP) or Certified Data Analyst (CDA) or Certified Fraud Examiner (CFE) or Certified Public Accountant (CPA) or Certified Information Systems Auditor (CISA) or Professional Engineer (P. Eng.) or Certified Data Analyst (CDA) etc. is an asset.
- Experience in a transit agency, government agency or large public accounting firm is an asset.
- Excellent research, critical thinking and problem solving skills with the ability to apply conceptual frameworks to new and unique situations;
- Working knowledge of the application of data analytics to support risk assessments and reporting
- Strong written and verbal communication skills to provide written reports and presentations that accurately and clearly summarize issues and present solutions in an understandable and logical manner;
- Knowledge of industry best practices related to enterprise risk management and thorough knowledge of the 2017 COSO ERM Framework and ISO 31000.
- Knowledge and understanding of risk factors in a large public sector environment and associated with large, complex strategies, projects and operations;
- Familiarity with risk mitigation, risk response strategies and end-to-end operational assessments that involve identifying compliance gaps, dependencies, redundancies and process remediation or simplification.
- Ability to work within budgeted timelines and manage multiple priorities;
- Strong interpersonal and conflict resolution skills, including the ability and confidence to persuade others and effectively communicate the value of ARC’s services; and
- Must have or rapidly acquire a comprehensive knowledge of the Ontario Human Rights Code and Related Orders including disability accommodation and accessibility requirements pertaining to passengers and employees.
The TTC is committed to upholding the values of equity, diversity, anti-racism and inclusion in the delivery of its services and in its workplaces. The TTC is committed to fostering a diverse workforce that is representative of the communities it serves at all levels of the organization, and supports an inclusive environment where diverse employee and community perspectives and experiences bring value to the organization. The TTC encourages applications from all applicants, including members of groups with historical and/or current barriers to equity, including but not limited to, Indigenous, Black and racialized groups, people with disabilities, women and people from the LGBTQ(IA+) community. The TTC values and supports an inclusive and barrier-free recruitment and selection process. Accommodations for applicants are available upon request throughout the recruitment and selection process, including for those who identify as having a disability. Please contact Talent Management at (416) 393-4570. Any information received related to an accommodation will be addressed confidentially.
The TTC’s policy prohibits relatives of current TTC employees from being hired, assigned, transferred or promoted into positions, where there is a conflict of interest due to a relationship. Should you be selected for an interview, you will be required to disclose the name, relationship and position of any relative who is a current TTC employee.
We thank all applicants for their interest but advise only those selected for an interview will be contacted.