Ontario Teachers’ Pension Plan has appointed Kathryn Fric as its new chief risk officer, effective November 1. Fric joins Ontario Teachers’ following an 18-year career at Sun Life Financial, where she was most recently senior vice president, enterprise and operational risk.
TORONTO, Oct. 6, 2021 /CNW/ – Ontario Teachers’ Pension Plan Board (Ontario Teachers’) announced that Kathryn Fric has been appointed as its new Chief Risk Officer effective November 1, reporting to President and Chief Executive Officer Jo Taylor.
Ms. Fric joins Ontario Teachers’ following an extensive 18-year career at Sun Life Financial, where she was most recently Senior Vice President, Enterprise and Operational Risk, responsible for the oversight of strategic, operational asset liability management and market risks as well as its insurance risk management programs. Previous roles at Sun Life included Senior Vice President and Chief Credit Risk Officer, Head of Public Fixed Income Credit Research and Portfolio Manager for Public Fixed Income. Kathryn started her career in Finance at Ford Motor Co. Canada before moving to Deloitte and then Citibank in progressively senior roles.
“I am pleased to welcome Kathryn to our Executive Team. She brings significant leadership and deep investment and enterprise risk management experience which will solidify our strong risk culture,” said Mr. Taylor. “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.”
As CRO, Ms. Fric will be responsible for providing independent risk oversight of all risk-related activities, leading the establishment of a risk framework and ensuring forward-looking strategic and investment opportunities are incorporated into enterprise operations and objectives.
Ms. Fric is a designated Chartered Financial Analyst, currently sits on the Board of the Corporation of Massey Hall and Roy Thomson Hall and earned both a Bachelor of Arts and a Master of Business Administration from Western University.
About Ontario Teachers’
Ontario Teachers’ Pension Plan Board (Ontario Teachers’) is the administrator of Canada’s largest single-profession pension plan, with C$227.7 billion in net assets (all figures at June 30, 2021 unless noted). It holds a diverse global portfolio of assets, approximately 80% of which is managed in-house, and has earned an annual total-fund net return of 9.6% since the plan’s founding in 1990. Ontario Teachers’ is an independent organization headquartered in Toronto. The defined-benefit plan, which is fully funded as at January 1, 2021, invests and administers the pensions of the province of Ontario’s 331,000 active and retired teachers. For more information, visit otpp.com and follow us on Twitter @OtppInfo.