Operational Risk Manager

Job description

Purpose of Position This role resides within the Firm’s Enterprise Risk Management Department. As a Vice President of Operational Risk Management (VP) in the second line of defense, the role is responsible for designing, implementing, and overseeing the operational risk framework to identify, assess, monitor, and control operational risks across the enterprise. Essential Job Functions: Operational Risk Management: - Develops and maintains the operational risk framework, policies, procedures, and methodologies. - Facilitates and oversees Risk and Control Self-Assessments (RCSAs) in partnership with the first line of defense. - Reviews and challenges business processes, systems, and controls to identify material operational risks. - Oversees development and implementation of operational risk mitigation strategies and control enhancements. - Establishes and maintains operational risk appetite, limits, and thresholds, ensuring risk-taking remains within tolerance. - Develops operational risk scenarios and analytics to assess tail risk under adverse and severely adverse conditions. Risk Governance, Measurement, and Reporting: - Develops operational risk metrics and key risk indicators (...