Operational Risk Specialist Job Description
Operational risk specialist
provides oversight of the Enterprise Operations liaison for new law and regulation applicability analysis and implementation within Operations.
Operational Risk Specialist Duties & Responsibilities
To write an effective operational risk specialist job description, begin by listing detailed duties, responsibilities and expectations. We have included operational risk specialist job description templates that you can modify and use.
Sample responsibilities for this position include:
Performing evaluations of risks in the Technology and Data environment to determine their likelihood and impact
Performing evaluations of key technology processes to determine whether control gaps exist
Working with Technology Senior Management to determine the top technology operational risks impacting the firm
Establishing and communicating a holistic risk profile, pulling in relevant risk themes, metrics and other risk measures
Assist in performing risk self-assessments
Assist in implementation and monitoring of Key Risk Indicators (KRIs)
Assist in recording/monitoring the Operational Risk Database
Applies an in-depth understanding of the inter-relationships of business and how they impact the overall control environment and the operational risk approach
Uses excellent communication skills in order to work and influence both internal and external partners
Creation of Key risk and Performance Indicators to identify recurring control issues and track trends
Operational Risk Specialist Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Operational Risk Specialist
List any licenses or certifications required by the position: PMP, CPA, MBA, SOX
Education for Operational Risk Specialist
Typically a job would require a certain level of education.
Employers hiring for the operational risk specialist job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Collage Degree in Finance, Business, Economics, Management, Education, Graduate, Engineering, Accounting, Law, Mathematics
Skills for Operational Risk Specialist
Desired skills for operational risk specialist include:
Banking Industry and products
Financial Markets
Certification in law
Regulation
Rule
Use of data analytic tools
Area of coverage accredited certification programs for Privacy EAC
General application and infrastructure architecture
Regulatory documents
Accounting and financial operations and reporting requirements
Desired experience for operational risk specialist includes:
Experience producing graphical output from analysis including dashboards and heat maps
Perform monitoring and testing
Proven analytical and problem solving skills using Microsoft Excel, SAS JMP, R, or other software
Data preparation and the ability to understand, edit, and write SQL
The Senior Specialist, HR Operational Risk Reporting will have 6, but preferably 8 years’ experience in HR and / or Operational Risk
It is important that the HR Operational Risk reporting manager strong analytical & problem solving skills, interpersonal skills and the ability to develop working relationships with HR Leaders
Operational Risk Specialist Examples
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Operational Risk Specialist Job Description
Job Description Example
Our innovative and growing company is searching for experienced candidates for the position of operational risk specialist. 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 specialist
- Contribution and proactive management of the Operational risk and control self-Assessment
- Help promote and instill a culture of operational Risk management and operational excellence across Operations
- Risk Control Self-Assessment (RCSA) - Provide feedback on technology RCSA process to LOB ORO’s and RCSA program leads
- Scenario Analysis - Monitor global internal/external loss events relevant to technology scenario analysis
- Risk Assessment - Work with appropriate technology and security functional areas to identify potentially elevated risk concentrations globally and perform assessments of the corresponding inherent risks and mitigating controls
- Regulatory-Review and evaluate global cybersecurity regulatory requirements
- Significant Event Analysis - Develop and perform ongoing analysis of Operational Risk loss, near miss and external events to inform RCSA results, technology assessments and scenario analysis
- New Business Initiatives (NBI) - Assist LOB-aligned OROs with cybersecurity perspective on new business initiatives
- Cyber Risk Appetite/ Key Risk Indicators (KRI) - Work with Cybersecurity to approve KRIs and KRI aggregation structure
- Governance Forums- Participate in key Cybersecurity governance forums
Qualifications for operational risk specialist
- This position requires resourcefulness, good judgment, persistence, the ability to influence others, and strong leadership qualities
- Engage with internal and external stakeholders to devise and execute project plans, leveraging product experience and project/process management experience
- Proficient in Microsoft Office, SharePoint, Visio and MS Project
- Familiarity with regulatory compliance requirements for merchants, products and customer experience preferred
- Ability to converse in Bahasa Indonesia is preferred but not mandatory
- Business Unit Senior Management, and up to the Director level
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Operational Risk Specialist Job Description
Job Description Example
Our company is growing rapidly and is searching for experienced candidates for the position of operational risk specialist. 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 specialist
- Independent Challenge - Independent Challenge of the Cybersecurity RCSA program including adherence to the RCSA Standards and independent review of residual risk results
- Key Performance Indicators & Analytics - Governance of Key Performance Indicators including analysis of trends, outliers and underlying drivers
- Targeted Risk Assessments - Perform assessments of select areas with high or increasing operational risk
- Uses in-depth knowledge of Technology risk and market trends to determine potential risks to the organization
- Contributes to managing the strategic development and improvement of risk frameworks, methodologies and limits
- Manage and review self-identified audit issues including assisting the LOB with articulating the risk, evaluating the action plans, and reviewing the evidence to agree closure
- Identify new risks in Operations processing for which there are currently no mitigating controls in place
- Identify control processes that are failing, inadequate or inconsistently applied, resulting in an in ability to fully mitigate the risks for which they were originally intended
- Further elevate the Office of Risk understanding of the strategy, execution and reporting of broker/dealer activities and their risks and controls by contributing thought leadership in, and keeping current with, changes affecting the capital markets and broker-dealer industry in particular
- Provide subject matter expertise on trading operations concerning Equity, Fixed Income, and Structured Products to help identify liquidity, market, credit, and operational risks exposures arising from these operations
Qualifications for operational risk specialist
- Partner with other Product Operations functions and business units to partner in the delivery of key strategies and initiatives
- Liaise with governance areas such as Chief Accountant’s Group, Corporate Compliance, Corporate Audit, Risk Management and Legal to resolve sensitive issues
- Liaise with Corporate Compliance, Risk Management and Legal areas regarding regulatory changes, policies and standards
- Experience in an Operational risk role
- A solid experience of Private Banking Products and services is preferred
- Specific and detailed understanding of the Operational Risk Management function and of the Regulatory environment and requirements (Basel 2…)
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Operational Risk Specialist Job Description
Job Description Example
Our company is searching for experienced candidates for the position of operational risk specialist. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for operational risk specialist
- Assert critical leadership qualities to drive projects to completion and motivate self and team members to achieve results
- Effectively communicate with team members and other staff
- Communicates with key stakeholders to provide a control analysis for routine activities and recommends solutions for closing gaps based on industry best practices
- Compiles and analyzes data, processes, metrics and other relevant information associated with assessing and evaluating the control environment
- Develops and maintains project plans, team agendas and SharePoint site for assigned projects
- Documents and tracks risks, mitigating controls and control improvements
- Identifies and recommends process improvements that significantly reduce workloads or improve quality for Operational Risk Management
- Maintains and maps key procedural controls to defined risk scenarios for each risk category and documents process flows as defined through interviews with subject matter experts
- Performs and delivers on routine assignments and/or projects for Operational Risk Management
- Prepares monthly reports and other routine status updates to support the day to day operational risk functions
Qualifications for operational risk specialist
- Must include experience of the banking industry from a strategy and operational perspective, including implications of corporate transaction and restructuring
- Must be able to influence, engage and communicate
- You will be naturally inquisitive with strong analytical skills with the ability to understand and evaluate relevant information returns by firms in relation to Structural Reform, Operational Continuity in Resolution, BMA, RRP and Solvent Wind Down
- Ability to challenge and influence senior management - both internally and with firms
- Ability to work alone, or as part of a team, with good relationship management skills
- Able to shape or influence strategic direction, is able to lead by example
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Operational Risk Specialist Job Description
Job Description Example
Our company is hiring for an operational risk specialist. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for operational risk specialist
- Reviewing and assessing key controls to ensure financial reporting processes and process owner obligations are met
- Provide Operational Risk guidance to Policies and all Global Information Security Standards
- Provide coverage through risk reviews and assessments to identify opportunities to reduce risk pertaining to identified risks, vulnerabilities, threats, mitigating controls and associated supporting documentation
- Review and challenge security controls and risks
- Use subject matter expertise and broad technology experience to provide insight and risk mitigation influence related to businesses processes
- Maintain knowledge of regulatory expectations related to Information Security and the Cyber Threat Landscape
- Facilitate RCSA sessions for each business unit and corporate function and challenge results
- Advise all business units/corporate functions in the identification, documentation, and remediation validation of self-identified issues and action plans
- Support the business units/corporate functions in the identification and documentation of new Operational Losses
- Document risk treatment plans for operational risks identified through RCSAs or results of KRIs
Qualifications for operational risk specialist
- 15+ years experience in technology development and oversight with recent experience (5+years) focused on Cyber-security, financial services experience highly desired
- Demonstrated excellence in the execution of projects
- Strong organisational skills - ability to lead by example and train others
- 15+ years experience in technology with recent experience (5+years) focused on Cyber Security, financial services experience highly desired
- Bachelor’s Degree in Computer Science, Computer Engineering, Information Security or related field
- 15+ years experience in technology development and oversight with financial services experience highly desired
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Operational Risk Specialist Job Description
Job Description Example
Our company is growing rapidly and is looking to fill the role of operational risk specialist. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for operational risk specialist
- Perform Risk Control Self-Assessment reviews including risks, risk metrics, control record updates, and control test reviews
- Create and update process flow documentation for the processes noted above
- Manage quarterly assessments of operational risk related to other processes , internal operational risk reports, risk appetite statements and control certifications
- Review operational losses to ensure that sufficient mitigating controls are identified and documented
- Defend risk assessments with stakeholders and assist in coordinating requests and responses during Internal Audits and bank regulatory exams
- Produce quarterly operational risk reporting in conjunction with the Business Unit Risk Manager’s Integrated Operational risk report for CAP/CCAR and Regulatory Reporting
- Establish strong working relationships across the Financial Management of the Americas Business Unit Risk Management team, business units involved in the CAP/CCAR and Regulatory Reporting functions, and other stakeholders in Operations, IT, and Risk Management as applicable
- Facilitates operational risk assessments and perform analytics of business unit risk exposures, evaluating risk frequency and severity control identification and effectiveness
- Partners with business lines to independently validate newly established controls, control remediation on high risk activities and assist in test script development and creation
- Drives the escalation, communication, and closure of issues identified in the Operational Risk Management Validation & Control (ORMVC) program
Qualifications for operational risk specialist
- Track record of coordination and relationship management
- Proven track record of taking ideas forward without supervision and challenging others, where appropriate
- Ability to work independently or as part of a team to resolve issues and meet deadlines
- PC & Internet proficient
- Data analytics, and presentation of data in the form of dashboards/PowerPoint decks
- Bachelor’s degree in Business Administration, Finance, Accounting, or IT required