Director of Operational Risk

---

Job description

Overview

Under the general direction of the Chief Enterprise Risk Executive (CERE), the incumbent will be responsible for developing and supporting all aspects of the Bank's Operational Risk Management program and performing daily activities required to ensure that the various risk management efforts are completed and/or sustained in accordance with strategic objectives, business needs and the Bank's overall risk management goals. These include, but not limited to implementing, coordinating and administering the policies and procedures of the Bank to comply with all applicable laws and regulations and assuring the Bank has implemented an effective Operational Risk program that is commensurate with the size and complexity of the Bank. Additionally, the Enterprise Risk Director will oversee the Bank's model risk and vendor risk management programs.

* Creates and implements a strong regulatory change management process, which identifies and interprets new and pending risk management guidance, laws, regulations, bulletins, guidance or any other publication that potentially affects the organization's integrated risk profile and overall reputation and business practices.
* This process should include the completion of risk analysis, assessments, and development of task forces of stakeholders, in order to create an action plan to implement all required changes.
* Responsible for ensuring the timely completion ofall reports that are required to be produced by the Operational Risk department and for ensuring that all risk events are identifies, logged, resolved and reported, and that all required risk assessments are completed in a timely manner.
* Responsible for ensuring that the model risk management team is adequately supported and oversee the strategic plan for managing model risk throughout the enterprise.
* Accountable for assessing the staffing and systems needs of the department and staying informed of the most recent risk and financial industry guidelines and standards to ensure effective management of the department.
* In charge of interacting with all operational risk management lead experts, including those from our parent company.
* Ensures the Bank's policies and procedures affecting all areas of the bank are updated in accordance with risk management best practices, bank or regulatory requirements and that response to regulatory changes, internal audits and regulatory examinations is timely, organized and properly documented.
* Ensures that all Board Enterprise Risk Committee ("BERC") pending matters are tracked, resolved, supported and reported back to BERC in a timely manner.
* Manages the vendor management program to ensure that the enterprise is in compliance with all regulatory expectations.
* Works with the Chief Enterprise Risk Executive to recommend enterprise risk appetites to the Board of Directors and monitor and measure whether the enterprise is working within risk tolerances established by the Board of Directors.
* Participates in new product, service, or line of business due diligence and provide management with guidance on the level of regulatory, operational and integrated risk exposure is applicable to the Bank and all the mitigating strategies that must be implemented in order to adopt the new product, service or line of business.
* Actively participates in integrated risk management training activities and organizations. Keeps abreast of the latest best practices in managing risk and seeks certification in prominent and recognized organizations.
* Reports directly to the Chief Enterprise Risk Executive and will provide ongoing Operational risk reports to the Board of Directors and committees thereof, as applicable or necessary.
* As needed, reports to the Board of Directors on operational risk related issues, as well as the recommendation of any new best practices, methods or risk monitoring and reporting systems. Works with the BCI ERM group to identify best systems and/or practices to maximize returns and minimize costs.
* Ensures that the Bank follows the COSO principals in the testing, validation and/or risk assessment of controls and performs sufficient work to provide the necessary FDICIA attestations. Interacts with external auditors on related regulatory subjects as necessary.
* Provides oversight and directly assists in ensuring staff is diligent and accurate in responding to risk events of any nature/source.
* Continuously evaluate the use of technology to create efficiencies in processes, programs, and reporting data.
* Shall seek on an ongoing basis appropriate certification for all employees under management.
* Responsible for developing a robust risk management culture and obtaining the buy in from all business lines.
* Assists the Chief Enterprise Risk Executive in any special tasks or designated responsibilities.

Qualifications

* 5-7 years of experience in managing bank regulatory risk including operational, compliance, the model risk, vendor risk and reputational risk.
* In depth knowledge of practices, principles, and interrelationships of broad banking areas, especially in the areas covered under the auspices of the Bank's ERM program.
* Requires high level of skill in reading and interpreting Regulatory, Basel, COSO and ANZ risk management guidelines.
* Strong knowledge and experience with ERM programs and tools.
* Ability to prepare risk assessments, develop and implement mitigation plans, review and document processes and the effectiveness of corresponding controls.
* Strong financial aptitude to properly assess budgetary impact of mitigation plans and to properly plan and conduct financial investigations.
* Effective project management skills combined with detail-oriented work practices.
* Strong leadership skills, ability to drive change and influence senior leaders.
* Ability to lead teams and effectively coach team members.
* Demonstrated ability to lead projects.

Education

* Bachelor's Degree in Business, Finance or Accounting.
* Master's Degree, a plus.

Special Instructions to Candidates

* Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities.
* Please view Equal Employment Opportunity Posters provided by OFCCP here.
* The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)
* Reasonable accommodation may be made to assist individuals with disabilities to complete the online application process. Please contact our Human Resources Department at or by e-mail at .