The Ontario Teachers’ Pension Plan is appointing Kathryn Fric (pictured) as its next chief risk officer, effective Nov. 1.
Fric will report to Jo Taylor, the pension fund’s president and chief executive officer. In the role, she’ll be responsible for providing independent risk oversight of all risk-related activities, leading the establishment of a risk framework and ensuring that forward-looking strategic and investment opportunities are incorporated into enterprise operations and objectives, according to a press release.
Most recently, Fric was senior vice-president of enterprise and operational risk at Sun Life Financial Inc., where she was responsible for the oversight of strategy, operational asset liability management and market risks, as well as the organization’s insurance risk management programs. In 18 years with Sun Life, she was also its chief credit risk officer and head of its public fixed income credit research team.
According to Taylor, Fric’s experience as a leader, investor and risk manager will help strengthen the Ontario Teachers’ risk culture. “Risk management is an important capability at Ontario Teachers’ and plays a key role in all our activities. I am confident that Kathryn is well-placed to help the organization understand and manage the complex risks our business faces.”