Job Description
The Manager of Operational Risk is primarily responsible for the development, implementation, and management an effective Operational Risk Management Program for the Bank and to support the Chief Risk Officer in executing a strategy to mature the Program in a timely manner. This includes developing and enhancing various foundational elements of the Program and ensuring those elements operate effectively throughout the Bank. This position is also responsible for collaborating with the business owners (1LOD), and other control groups (2LOD)to increase operational consistency across the Bank and to identify opportunities to mitigate operational risk and enhance the resiliency of the Bank.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
1. Continue to develop, enhance, implement and maintain and effective Operational Risk Management Program including but not limited to RCSA program, Risk Event/Loss Program, Issue Management, Vendor Risk and IT/IS Risk
2. Establish protocols that clarify operational risk ownership and oversight responsibilities throughout the Bank supporting a Three Lines of Defense approach and fostering a risk-awareness culture throughout the Bank.
3. Continue to maintain and enhance, when warranted, a clear and comprehensive Operational Risk policy assuring consistency of nomenclature and adequacy of operational key risk/performance/control indicators.
4. Develop and track quantitative measures of Operational Risk and provide timely monitoring of operational risk in compliance with approved risk appetite and identify and report emerging operational risk trends.
5. Serve as a liaison to colleagues in the first line of defense charged with business unit risk and control activities to provide clarify and training to the first line's understanding of the Operational Risk Management Program and support and effective challenge as they continue to develop new protocols to meet the standards of the program Monitor and test operational risk controls to verify effectiveness of design and execution.
6. Help ensure that issues are self-identified by the first line of defense, reported as risk issues, and addressed with timely corrective action. Track and categorize operational risk incidents and losses; conduct analysis on significant incidents to assure root causes have been identified and mitigation as warranted.
7. Continue to design and build out Operational Risk use cases/modules in the Bank's GRC system and deploy functionality to all applicable stakeholders. Develop and coordinate training on new modules to ensure smooth deployment.
8. Continue to produce and enhance the monthly and quarterly operational risk reports that are presented to the appropriate governance level of the Bank including the Board.
9. Undertake risk and business intelligence projects for the Chief Risk Officer, executive management, and business unit leaders, on an ad hoc basis.
10. Contribute to the development of training and awareness efforts to ensure the bank-wide understanding of operational risk management responsibilities.
11. Assist with and/or completes special projects, as needed.
Required Skills & Experience
* Minimum 10 years' experience in a senior operational risk management leadership role in a regional bank ($10B+)
* Expert level knowledge of operational risk best practices including RCSAs, scenario analysis, and incident management.
* Experience in the development and implementation of operational risk modules in a GRC
* Exceptional and proven ability to critically evaluate risk, consider relevant business factors, and make well-supported recommendations and appropriate escalations.
* Excellent verbal and written communication skills. Ability to effectively communicate, including effectively negotiate and persuade, with all levels of Bank staff, and management
Nice to Have Skills & Experience
* Bachelor's degree is required. MBA or CFA preferred.
* Proven capability to tailor risk management practices to the scale, scope, and complexity of the Bank as appropriate.
* Strong ability to oversee, support and effectively challenge the first line in conducting RCSA and in documenting, categorizing, and managing operational risk incidents and maintaining an effective issue tracking program.
* Ability to combine broad knowledge of the banking business with the details required to build consensus within, and between departments, to achieve strategic goals.
* Ability to manage cross departmental projects by establishing action-based systems that empower team members to accomplish goals, hold themselves accountable, and ensure deliverables are transparent and timely.
* Ability to work independently, with limited direct supervision, and effectively manage others.
* Strong analytical and problem-solving skills.
* Demonstrated ability to develop and deploy strategic initiatives and new risk oversight protocols.
Benefit packages for this role will start on the 31st day of employment and include medical, dental, and vision insurance, as well as HSA, FSA, and DCFSA account options, and 401k retirement account access with employer matching. Employees in this role are also entitled to paid sick leave and/or other paid time off as provided by applicable law.