Operational Risk Management Job Description

Operational Risk Management Job Description

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Operational risk management provides oversight and challenge of existing risk management processes and ensure effective implementation of processes related to operational risk standards, Enterprise policies and guidelines.

Operational Risk Management Duties & Responsibilities

To write an effective operational risk management job description, begin by listing detailed duties, responsibilities and expectations. We have included operational risk management job description templates that you can modify and use.

Sample responsibilities for this position include:

The Manager, Risk Management is a newly created position that will play a key role in ensuring the success of the division’s various cross functional risk management processes
Supporting the division’s contractual risk management processes by (1) providing comprehensive, timely status reports on overall process performance and open items
Oversight of Wholesale Loan Operations functions and procedures
External loss processes – from timely data collation to maintenance of External events discussed within Business Risk and Control Meeting’s for applicability to CS
Regular BAU processes Centralizing parts of Pre Trade Approval checking whether any have been flagged for OpRisk attention and then directing appropriately
Drive the processes for ORM semiannual and monthly reporting cycles
Assist in metric and data-driven monitoring of key risk drivers, exposures, controls or potential risk events across processes
Assessing data from various operational risk management processes to identify key themes or emerging trends across the Enterprise
Develop loss summaries for senior management on Credit Fraud events
Identify, track, and provide resolutions to unmitigated or partially mitigated business risks which can result in material financial, operational, regulatory, or reputational risks for the firm

Operational Risk Management Qualifications

Qualifications for a job description may include education, certification, and experience.

Licensing or Certifications for Operational Risk Management

List any licenses or certifications required by the position: PMP, SQL, CRISC, BCM, ISACA, CISM, CIA, SAFR, CRCM, NCCO

Education for Operational Risk Management

Typically a job would require a certain level of education.

Employers hiring for the operational risk management job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and University Degree in Finance, Business, Management, Accounting, Economics, MBA, Business/Administration, Education, Engineering, Graduate

Skills for Operational Risk Management

Desired skills for operational risk management include:

Operations
PowerPoint
Visio
Enterprise and operational risk management frameworks and processes
Excel
Word
Principles
Processes
Regulations
Risk management processes

Desired experience for operational risk management includes:

Knowledge of RCSA (Risk and Control Self Assessment) process
Understanding of operational loss data process
Strong analytic, logical reasoning, and problem solving, risk vs
Ability to work well on a team, manage multiple priorities in quick time frames
Previous experience regulatory and compliance requirements
Strong knowledge of industry standards, best-in-class programs and understanding of global laws and regulatory requirements in areas in which TDBG conducts business

Operational Risk Management Examples

1

Operational Risk Management Job Description

Job Description Example
Our growing company is looking to fill the role of operational risk management. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for operational risk management
  • Apply your diverse knowledge and experience in retail sales, credit lending, mutual funds, products, processes and operations to deliver results to key stakeholders effectively
  • Work with team lead to further optimize reporting processes across the Corporate Operational Risk (COR) team
  • Assess internal processes and make recommendations to streamline procedures
  • Manage and maintain Senior Management reporting including packaging results from loss data reviews performed by the team, Firmwide Control Committee materials, Control Committee benchmarking results, Firmwide and LOB Risk Appetite results, 10Q and 10K processes and other adhoc reporting
  • Run working group meetings to bring LOBs and Functions together to improve the control committee and reporting processes
  • Be responsible for control testing within the Canadian Banking Sales and Operations, including RMFI Policy 5 compliance testing & reporting
  • Assist in the development and evolution of divisional guidance materials for all operational risk program components
  • Degree qualified, ideally from a business, law or finance discipline
  • Experience in structured products and derivatives
  • The ability to work independently, determine priorities and meet deadlines
Qualifications for operational risk management
  • Excellent positive influencing skills with the ability to bring together diverse groups across different business units and geographies to align in common objectives and outcomes
  • Proven history of making an impact, developing and executing on strategies, coupled with strong leadership and change management expertise
  • Provide ongoing development of the Operational Risk reporting process to meet the requirements of all key stakeholders (TDBG governance structures, TDI Boards of Directors, TDI Risk Committees or other oversight forums)
  • Excellent analytical and problem-solving skills Strong project management and process skills
  • Ability to analyze data, identify root causes, recommend change controls to senior management Recommend to have knowledge of SAS and SQL
  • Applicants should have at least 2 years of college experience
2

Operational Risk Management Job Description

Job Description Example
Our company is looking to fill the role of operational risk management. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for operational risk management
  • Manages the processes to provide enterprise oversight over execution of programs (i.e., the production of the Enterprise Operational Risk Scorecard)
  • Facilitates dialogue on changes to reporting processes to continually enhance Operational Risk reporting and data management
  • Manages technology tools and processes necessary for the effective execution of ORM programs
  • Oversee initial risk assessments and due diligence processes and ensure they are performed properly in selecting new third parties
  • Support the development and documentation of the data governance framework, methodology and processes in support of the Operational Risk Capital Model requirements, and Operational Risk Management Programs
  • Have strong interpersonal skills, initiative and an eye for detail
  • Analyzing operational risk data and loss scenarios to assist in the determination of operational risk capital
  • Managing calendar and meeting needs
  • Scheduling large and/or complex meetings that may include high-level executives, including handling logistics, accommodations, menus, breakout sessions, outside activities
  • Making travel and parking arrangements as needed along with the preparation of general and travel expense vouchers for executives
Qualifications for operational risk management
  • Operational risk management and/or audit experience
  • Experience in management consulting, corporate strategy, operational risk management, audit, credit risk, compliance, process engineering, or investment banking
  • Completes operational risk reviews and provides expert feedback on the operational risk impact of major change initiatives, process improvements and transformational projects
  • Extremely well organised with acute attention to detail
  • Knowledge of corporate treasury and complex products, securitisations, capital issuance and hedging structures
  • Part/full professional qualification or aptitude to achieve one
3

Operational Risk Management Job Description

Job Description Example
Our growing company is hiring for an operational risk management. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for operational risk management
  • Organizing and maintaining files in accordance with records retention guidelines
  • Providing support to executives for records management and business continuation
  • Performing such other administrative services as may be deemed necessary or appropriate (e.g., back-up other assistants when out of office)
  • Identifying administrative needs for the organization and initiating projects to support those needs
  • Initiate and follow on procurement requests (ordering hardware/software, phone requests, on-boarding new hires/transfers)
  • Process information security requests
  • Enhance the Governance and Reporting framework through gathering feedback and enhancing Control Committee and Executive reporting standards
  • Develop relationships with LOB/Function aligned Operational Risk Officers and Oversight & Control to further develop the Operational Risk Framework
  • Develop training materials and create comprehensive deployment strategy
  • Define, develop and enhance the operational risk governance process create and maintain the framework, policy, and standards for enterprise-wide operational risk programs to ensure businesses and functions are executing operational risk programs as required
Qualifications for operational risk management
  • Operational Risk experience a must
  • Ability to build network
  • Ability to analyze risk metrics and translate into predictive action plans that anticipate and mitigate risk exposure
  • Seven years proven credit policy and/or credit risk management experience, or equivalent
  • Additional qualifications such as CFA, FRM and CPA will be favourably considered
  • As the role requires you to work closely with line departments, you would need to demonstrate excellent people leadership skills in maintaining good business relationships within the business units and across the corporation
4

Operational Risk Management Job Description

Job Description Example
Our company is growing rapidly and is hiring for an operational risk management. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for operational risk management
  • Working closely with the business and other stakeholders to ensure effective change management when introducing and implementing the new processes
  • Liaise with the Group Risk Management Portfolio Management team, Advisory and Oversight groups and the Business Unit Operational Risk teams to coordinate the review process required to support the determination of Operational Risk capital
  • Liaise with Finance and Capital Management to develop and implement capital reporting for internal reporting purposes
  • Develop and implement ongoing monitoring and evaluation for changes to business environment and internal control factors and associated assessment for capital impact
  • Collaborate with director, other departments and business lines to provide insightful analysis of risk and generate forecast for CCAR submission
  • Provide expert advice to the business in terms of ensuring the operational risk framework is effectively utilized within the business to support both the AMA Basel II requirements best-practice, effective risk management
  • Responsible for research and analysis of analytics and reporting requirements, and developing the reporting strategy to support the execution of Operational Risk Management programs and analysis of Operational Risk Profile
  • Responsible for the design, development and implementation of the analytics and reporting capability of the Operational Risk Management System
  • Responsible to be the primary point of contact in the identification, evaluation, implementation and/or coordination of enhancement, and ongoing maintenance of the Operational Risk Management System in accordance with the established governance model (including implementation of configuration changes, and coordination with technical support team)
  • Manage internal and external reporting requirements
Qualifications for operational risk management
  • Experience in writing policy and guidance documents
  • Experience in interpreting regulatory requirements
  • Knowledge of document design, page layout, audience identification, grammar, and writing styles/rules is a plus
  • Providing input to the enhancement list to ensure that all proposed changes are tracked
  • Providing / documenting change requests
  • Providing feedback on the prioritization of enhancement releases
5

Operational Risk Management Job Description

Job Description Example
Our company is looking to fill the role of operational risk management. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for operational risk management
  • Ensure timely execution of the ORM Technology strategy (including IAAP requirements, resource management, ) to ensure ORM infrastructure continues to support the strong management of risk, meets Enterprise data requirements and meets regulatory expectations
  • Assist in establishing an enterprise-wide third party risk framework (TPRF) that facilitates the assessment of external or inter-affiliate third parties and the risks they manage on behalf of the Firm and risks they create for the Firm by nature of the external relationship
  • Build awareness across the Firm and interpret the application of external third party risk in the context of the Firm's risk and control environment
  • Provide guidance to Firmwide contacts around execution of operational loss activities in compliance with the Firmwide standards
  • Create, socialize and document a new deep dive review framework for Wealth Management
  • Oversee deep dive review activities conducted by WM Business Control Units
  • Participate in these reviews, as appropriate
  • Track, report and communicate deep dive results to WM Senior Management
  • Identify thematic residual risk issues across Wealth Management and recommend appropriate remediation to the business and management
  • Prepare summaries of results highlighting key findings, control gaps, root causes, potential recommendations for remediation actions
Qualifications for operational risk management
  • Providing feedback on the preparation of Business Requirements for significant enhancements
  • Providing support to Senior Business Manager and other team members to assist in the coordination of activities across the team, including
  • Experience in financial services industry with focus in Operational Risk, Finance, Business Management, Audit or Compliance or other controls related area preferred
  • Experience with Risk tools (e.g., Phoenix) systems is a plus
  • Knowledge of Operational Risk Practices and concepts in the financial industry
  • 2 years of experience conducting audits OR 2 years of experience conducting exams

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