Operations Controls Consultant

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October 7

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Allstate

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Insurance • Finance • Non-profit

Allstate is an industry leader in providing insurance solutions, focusing on home, auto, device, and identity protection. With a commitment to customer well-being, Allstate aims to instill peace of mind and financial security for its customers. The company also emphasizes community impact and sustainability through various initiatives, showcasing their dedication to social responsibility and positive change.

10,000+ employees

Founded 1931

💸 Finance

🤝 Non-profit

💰 Post-IPO Equity on 2014-01

📋 Description

• Lead and facilitate risk assessments using risk mitigation tools to manage and mitigate operational risk within the claims department recommending opportunities for improvement • Contribute to the enhancement of risk frameworks, methodologies, and tools • Assist in maturing the 1st line Claims Operations control function by proactively identifying, assessing, analyzing, and documenting emerging operational risks, industry trends, and control gaps that may impact the Claims function • Design and execute control testing programs to evaluate effectiveness of operational controls through walkthroughs and sample testing • Analyze current claims processes and identify areas for improvement to enhance efficiency and accuracy to drive process improvement initiatives • Utilize data analytics to identify, monitor, evaluate and implement the effectiveness of operational controls through key risk indicators and control metrics to identify trends or anomalies • Track and monitor issues, incidents, operational losses, and near misses, ensuring root cause analysis and remediation • Ensure all claims processes comply with internal policies, industry standards, and regulatory requirements (OSFI, FSRA, IFRS 17, Solvency II, SOX etc.) • Collaborate to ensure the completion of audits including Internal audits, business audits, regulatory, compliance and external audits with required data and evidence to align with National Claims objectives • Prepare and present reports on operational control performance, risk assessments, and regulatory compliance • Ensure the integrity of risk and control data by implementing and monitoring operational controls, policies, and procedures within the Claims department • Act as a liaison with external stakeholders including 2nd and 3rd lines of defense to manage risk and control matters • Partner with first line teams to educate and embed a strong risk culture • Act as a center of excellence and trusted advisor in Claims to ensure integrated and effective operational controls • Provide training and support to claims staff on risk and control frameworks, tools, operational controls, best practices and procedures • Collaborate with IT, Legal, Finance, Compliance, Internal Audit, IT Risk and other teams on cross-functional initiatives • Act as key contacts regarding changes and new information relating to Internal Controls or regulatory requirements

🎯 Requirements

• Advanced degree in Risk management or Business-related disciplines • Professional certifications (e.g. CRM, CRMP, FRM, CIP, CPA, CISA, CIA, CFA) are a plus • 3 or more risk management and/or audit, operational risk/ controls experience within the financial service industry (preferred) • Knowledge of operational risk frameworks and regulatory guidelines (e.g. Basel, COSO, E-21, B-10, B-15, ISO 31000) • Understanding of insurance industry regulations, products, services, processes, distribution and systems • Excellent verbal and written communication capabilities with proven experience to influence others • Advanced MS Office knowledge (Excel experience is an asset), Power BI, Visio reporting, Tableau and PowerPoint • Advanced knowledge of business and risk technology systems such as Guidewire, Assist Plus, Archer, Resolver, IBM open pages etc.

🏖️ Benefits

• Flexible Work Arrangements • Employee discounts (15% on auto and property insurance, plus many other products and services) • Good Office program (receive up to 400$ back after purchasing office equipment) • Student Loan Payment Matching Program for Government Student loans • Comprehensive Retirement Savings Program with employer matched contributions • Annual Wellness allowance to support employees with improving health and wellbeing • Personal reflection day • Tuition Reimbursement • Working within the community and giving back!