Operational Risk Manager

Job description

The Operational Risk Manager, under the direction of the Deputy Chief Risk Officer, is responsible for overseeing and directing the enterprise operational risk management program and staff. Provides leadership and guidance in driving the execution of operational risk management program in consultation with business management, and embedding risk culture across the organization. Works to identify and limit the risk associated with a company's operations. Responsibilities include assessing business operations, identifying issues, creating reports on recommendations, contributing to the development of business procedures, and driving changes to lessen operational risks and losses. Other duties include continually monitoring the business to find potential new threats.

Work closely with business line and senior management in carrying out the assigned duties. Demonstrates independent judgement with a minimal amount of supervision and direction. Perform a wide range of services, some of which are complex and confidential in nature.

RESPONSIBILITIES

* Lead the planning and execution of the Operational Risk Management program and assessments.
* Evaluate new processes or revised processes to ensure the appropriate control environment to manage risks within the Bank's risk appetite.
* Lead operational risk management staff in completion of operational workflows and risk reviews.
* Responsible for supervisory duties such as hiring, firing, training, coaching, performance evaluation, directing and assigning work, disciplinary action, handling grievances, approving timecards, etc.
* Conduct risk-based operational process assessments in consultation with the process owner and support functions.
* Assess the control design, characteristics and documentation to ascertain control strength as part of the operational process assessment.
* Review and challenge business processes and analyze operational risk data to identify areas of increased operational risk.
* Identify and recommend opportunities to streamline business processes to increase operational efficiency and operational risk effectiveness
* Identify and engage appropriate stakeholders to facilitate operational process assessments and targeted deep dives, and additional directives from senior leadership.
* Facilitate identification of KRI and KPI metrics for business operations to monitor where process controls are effective or changing.
* Provide leadership and guidance to ERM peers assigned to assist with operational process assessments.
* Promote sound risk management practice and culture to strengthen the operational risk environment.
* Develop and maintain metrics for managing and reporting operational risk to management and the Board.
* Serve as a resource to other 2nd and 3rd line of defense functions in assessing operational and control weaknesses.
* Review operational risk incidents, exceptions and complaints, and work with stakeholders for remediation and risk mitigation.
* Consult and provide effective challenge with respects to remediation actions for appropriateness, effectiveness and timeliness.
* Stay abreast of current leading industry standards and evolving regulatory requirements.
* Carry out detailed walkthroughs and process mapping to identify significant risks and control weaknesses or gaps.
* Document process workflow to promote process transparency and accountability.
* Leverage process workflows to conduct operational process assessments driving process improvement and effectiveness.
* Assist and train management and risk peers in the documentation of operational workflows for a complete and consistent understanding of process roles & responsibilities and technology systems.
* Partner with ERM Enterprise Fraud to manage the implementation and execution of a process to measure, monitor and analyze operational losses.
* Review the financial impact of operational incidents, root cause and business impact analysis.
* Review operational losses for trends and root cause analysis to ensure that sufficient mitigating controls are identified and documented.
* Define operational loss KRIs and KPIs for the identification of trends and areas of elevated risk loss exposure.
* Gather operational risk-related data from internal or external resources and conduct statistical analyses to quantify risks.

QUALIFICATIONS

* 7+ years of experience required in banking or similar industry with exposure to enterprise risk management responsibilities
* Operational risk management experience and understanding
* Operational risk certifications (RMA, PRMIA, GARP, ERMA, IMA, ISACA, etc.) not required but encouraged
* Possess a solid understanding of process, risk, and control design concepts and governance from an operational risk management or audit perspective
* Working knowledge in the Banking / Financial Institutions operations, including knowledge of consumer, commercial banking, trust and escrow processes and systems.