ANNEX "A" - STATEMENT OF WORK 1. Title Risk Management Specialist 2. Objective Provide support to Marine Atlantic’s Risk Department in its efforts to establish a Divisional level Risk Process that aligns with its existing Enterprise Risk Management Framework. 3. Background Implementation of a Divisional level Risk Management process is an important next step in Marine Atlantic’s journey of ERM maturity. This will have a significant impact on our ability to embed a Risk culture as well as increase the Corporation’s capacity for success in the achievement of its strategic objectives. 4. Scope of Services Stream 3: Risk Management Specialist Intermediate: 5 -
The required services may include, but are not limited to the following: • Conducting risk assessments and evaluating potential risk and losses • Assisting in prioritization and assignment of risks • Coaching, mentoring and training project teams in risk mitigation techniques • Documenting process improvements • Preparing reports for internal or external publication (Corporate Services, Policy, Communications) • Liaising with and interviewing stakeholders, as required, to obtain, clarify and exchange information, in-order to co-ordinate and manage the Risk Assessment Process • Identifying, confirming and documenting the objectives and priorities specific to the process, project, program or strategic direction being assessed, feasibility studies • Identifying relevant risks and opportunities (including, but not limited to, economic, political, operational, legal, reputation, technical, organizational, accounting, banking and social risks) that threaten the objectives and priorities • Utilizing both quantitative and qualitative techniques, as appropriate, to assess the likelihood that a risk event will occur/or the impact if the risk event occurs • Recommending and documenting suggested Risk Responses necessary to manage the likelihood and/or impact of the identified risks • Performing Control Risk Assessments and analysis, which may include statistical sampling and analysis of existing controls • Assisting with the on-going monitoring of risk and assisting with the implementation of risk response/mitigation strategies • Preparing draft and finalized risk assessments, briefing notes, presentations and papers related to risk management, and developing and updating risk management plans • Providing advice with respect to risk management best practices and providing guidance and direction to assist in managing risk
Deliverables Activities include: • Supporting the Corporation’s Risk Officer with the roll out of a Divisional risk process using the existing ERM Framework. This support will encompass the following activities: • Identification of the “top” risks for each Division based on their core business activities • Conducting risk assessments for each Division’s top risks • Identification of existing controls and additional activities required to further mitigate the risks • Identification of risk metrics for each Division • Development, facilitation, and capturing of outputs of Divisional Risk workshops • Liaising with and interviewing stakeholders to identify risks and validate information • Providing guidance, coaching for Directors/Managers and their respective teams in the creation of the risk registers • Preparing draft and finalized documents relative to the roll out of the process as required (i.e., Risk registers, briefing notes, presentations, communiques etc.) • Creation and establishment of quarterly reporting requirements • Development of formal Divisional risk tools and templates for reporting • Organizing Divisional space on the Corporation’s Internal information management system • Development of a detailed active process for Divisions to use in the management of risk including a calendar of activities/Divisional workflow • Delivery of sessions with a consultative component to solidify the risk management active process before finalizing • Facilitating understanding of the linkages to the Corporate level Risks • Expansion of ERM guide to capture Divisional process and convert it to electronic format with hyperlinks to tools and templates • Establishment of a Director level committee including terms of reference for risk management at the Divisional level 5. Official Languages All work to be performed and written in English. 6. Work Location The onsite location for this project is the Port Aux Basques office located at: 239 Grand Bay Road, Port Aux Basques, Newfoundland, A0M 1C0. However, the location of the work will depend on the nature of specific deliverable listed above. It is estimated that the majority of work can be done remotely but that the Risk Management Specialist will need to be flexible to travel as required to the onsite location, as well as to St. John’s Newfoundland and North Sydney, Nova Scotia.
