Operational Risk Management Lead Operational Risk Management Lead with extensive knowledge of risk mitigation and internal control evaluation within the financial services industry. This person must be a strategic thinker with a solid understanding of risk and control identification, as well as the ability to identify control weaknesses and challenge issues as necessary. This position will oversee a small team and will provide them with coaching and training. This position must also maintain strong relationships with the line of business (LOB), other risk partners, and senior management to effectively influence changes that will improve the risk and control environment. This position is the key contact for the Risk and Control Self-Assessment (RCSA) and other Operational Risk Management tools and programs for assigned areas. Position Responsibilities: Risk Partnership Knowledge: Extensive knowledge of end-to-end processes to be able to serve as a subject matter expert for operational performance issues that arise. Responsible for more complex business areas and topics. Analysis of RCSA: Collaborate with the first line business experts to create a real-time RCSA to define and document business processes and new initiatives including the assessment of key processes, risks, mitigating controls and action plan development. Reach conclusions that are supported by facts and sound reasoning and that recognize broad themes and issues. Challenger: Use subject matter expertise and industry knowledge to provide independent oversight and credible challenge to the Line of Business' operational risk management activities. Successfully review and challenge business operational risk management practices and outcomes. Understand, review and challenge front line risk acceptances. Trusted Advisor to FLOD: Become a trusted advisor through developing and maintaining strong positive working relationships with FLOD, incorporating industry knowledge of operations for assigned lines of business. Meet with the business partners regularly and help with ad-hoc projects including, issues, application changes, vendor changes, etc. Partnership Throughout Organization: Build and maintain effective partnerships and communicate effectively with all levels of the organization including senior management, other risk partners, internal audit, and regulators to meet overall strategic objectives. FLOD Prioritization: Provide appropriate risk management feedback on prioritization by the front line to enable the business to meet strategic objectives, while meeting operational risk program expectations. Manage FLOD deadlines: Partner with FLOD on scope to ensure commitments are achieved within agreed-upon timeframes and advance appropriately when risks, significant issues, or challenges arise. Collaborate on LOB Process Changes: Working with business partners to support and lead initiatives with that impact key business processes and identify risks and controls through the Risk and Control Self-Assessment (RCSA) Trend Knowledge: Collaborate on business and industry trends that present opportunities and advise the Line of Business in moving forward with new business in a controlled environment. Risk Management and Internal Controls Improving Controls: Apply strong business and risk judgment and critical thinking in identifying opportunities for risk and control improvements and then collaborate to develop and implement solutions. Partner with business and risk teams to deliver well-managed, innovative solutions. Issues Management: Assist business units with timely reporting and correction of operational risk incidents including root cause analysis and development of mitigating action plans (KPI/KRI/Corrective Action Plans) Operational Risk Program Challenger: Continuously look for ways to improve and innovate in the Bank's approach to risk management. Maintain subject matter expertise on operational risk management regulatory guidance and industry practices. Leverage experience to bring industry leading standards, practices, and tools to the organization. Timely Escalation of Risk Concerns: Escalate operational risk concerns to ORM management that could have a significant impact to the Bank's risk profile. Escalate appropriately and timely any concerns that could put timeliness and completeness of deliverables at risk. Problem Solving: Collaborate with the ORM team and business partners to lead projects, solve problems, and dissect complicated issues. Lead discussions and answer questions regarding operational and operational risk topics. Documentation: Must be able to properly document understanding of end-to-end business processes, in both Word (narrative) and Flowchart (Visio) formats. Monitoring and Other Management: Oversee a team of 1-3 individuals to manage the day-to-day operations as described above. Monitor FLOD Testing: Monitor ongoing testing results to deadlines and perform risk monitoring activities as assigned, specifically for risks and controls relative to high-risk business processes. Quality: Perform Quality Assurance reviews on work of lesser experienced staff. Improvements: Help lead and/or identify departmental initiatives and enhancements. Coaching/Training: Assist with the coaching and training of lesser experienced staff. Assist Operational Risk Manager/Director: Provide assistance to the Operational Risk Manager and/or Operational Risk Director as needed; help meet internal deadlines. Other As Needed: Assists with other risk management activities as needed Equal Opportunity Employer Minorities/Women/Protected Veterans/Disabled
