Responsible for defining requirements, processes and procedures to maintain Operational Risk Management policies and programs that enable effective 2nd line of defense oversight of the risks and controls within operations and payment systems.
- Define, build and maintain a framework for 2nd line of defense oversight of operations functions in the 1st line of defense.
- Work with other line of business subject matter experts (SMEs), to define and maintain policies and standards for operations related functions in alignment with regulatory requirements.
- Evaluate 1st line operations related functions and identify relevant operations related processes, key risk metrics, governance processes, risk assessments, and reporting. Identify and recommend any enhancements needed to ensure appropriate governance and reporting are in place for operations related functions.
- Collaborate with other operational risk partners to ensure comprehensive policy scope without redundancies.
- Communicate the business impact of changes and new requirements to the respective stakeholders. Develop appropriate guidance and training as appropriate.
- Supports creation of operational risk metrics, including breach protocols and escalation.
- Supports the creation of aggregate risk reporting over operations and payment areas for 2nd line risk reporting.
- Support various risk governance processes such as monitoring, risk assessment, analysis and reporting.
- Participate in special initiatives to support operational risk requirements.
- Work in close cooperation and collaboration with the business managers, operational risk partners, and Business Unit Risk Managers and their teams.
- Participate in industry committees / forums to maintain awareness of trends and best practices.
- Understand and monitor changes in applicable regulatory requirements to enhance internal plans / strategies / policies / practices on an ongoing basis.
- Bachelor’s degree in Business, Finance, Economics, Accounting, or related field.
- 8+ years of experience in operational risk management, internal audit, bank operations, or related field
- Strong interpersonal, written and verbal communication skills
- Strong analytical skills with experience in developing metrics and reporting
- Able to collaborate well with internal and external stakeholders
- Ability to work independently while under the direction of multiple stakeholders
- Broad view of the financial services industry and operational risk best practices.
- Experience in one or more financial industry risk, control, and governance disciplines (e.g., operational risk, audit, compliance, etc.)
- Strong knowledge of operations and payment systems
- Experienced with Word, PowerPoint, Excel and project related software packages
- Experience in writing, maintaining and communicating policies, procedures and job aids
- Understanding of regulatory requirements for banking operations and payment systems
- Able to build relationships with people at all levels and work with various stakeholders across the organization.
- Experience in working with regulators and auditors