Compensation Overview

Job Description

This role is for an Operational Risk Manager who acts as the second Line of Defense for Operational Risk in the bank. As an Operational Risk Manager your role will be to identify and limit the risks associated with the Bank’s operations.

The position requires an experienced candidate with strong technical, communication, and organization skills. The candidate should be fluent in industry best practices and regulatory expectations for Operational Risk.

The ability to work well with senior stakeholders within the firm and with our regulatory colleagues is essential as this role has high visibility within the bank.  

Essential functions include:

• Identification and management of risks through execution of the operational risk framework.
• Providing effective challenge to the first line of defense.
• Proposing solutions to risk issues.
• Facilitate the Risk and Control Self-Assessment ("RCSA") Program.
• Provide guidance and challenge on Operational Risk Incidents.
• Build out the Key Risk Indicator population across the bank.
• Execute Scenario Analysis and Risk Awareness Training.
• Focus on innovation and use of technology to better identify, assess and manage Operational Risks.
• Provide senior management with information to assess the current risks and forecast risks within the business through taxonomy driven analytics.
• Assist with adopting a continuous improvement mindset in the embedding of operational excellence principles.
• Coordinate and collaborate, while building strong relationships, with Audit, Compliance, Operations, IT, Business Lines, and others as appropriate.
• Create, maintain and administer a sustainable framework for efficient and effective Operational Risk reporting across relevant Executives and Committees.
• Providing strategic advancement of fraud detection and prevention techniques.

Qualifications

• Minimum 10+ years of experience in the Financial Industry.
• 5+ years of experience in Operational Risk or equivalent function.
• Strong analytical skills and proven ability to develop solutions to complex problems, including those that are analytical, process, and/or data oriented in nature.
• Ability to understand varied business functions quickly and to assess the impact and severity of findings and control issues.
• Strong knowledge of internal control principles.
• The candidate must be able to manage many workflows and processes. The ability to condense complex issues and processes into consumable and practical actions for senior management and key stakeholders alike is critical.
• The individual should be well versed with Operational Risk Frameworks and effective challenge.
• Strong communication skills in both verbal and written form are required as the work involves frequent interaction with senior management and other stakeholders as well as internal / external auditors and regulators.
• Understanding banking and market products, risk methodologies, practices and procedures.

Compensation

The expected annual salary for this position is between $140,000 and $160,000 at the start of employment. A salary offer is determined on an individualized basis, taking into consideration factors such as an individual’s skills and experience. In addition to base salary, our total rewards package also includes eligibility for an annual bonus, medical, pharmacy, dental, and vision plans, life and disability insurance, employee wellness program, retirement and savings plans with employer contributions, generous holiday and paid time off schedules, parental leave, and tuition reimbursement.