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Director, Operational Risk Mgmt
Tiaa
New York, NY, United States
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COMPANY OVERVIEW:
Since 1918, it has been TIAA’s mission to serve, our ability to perform and the values we embrace that make us a different kind of financial services organization. We’re dedicated to serving the financial needs of those in the academic, medical, cultural, governmental and research fields, and committed to helping make lifetime financial well-being possible for them.
By building a culture that allows all employees to contribute their unique talents and skills, we’re able to provide our customers with fresh ideas and distinct perspectives to help them achieve their goals. We believe a diverse and inclusive workforce is one of our greatest strengths and a key measure of our success*.
For more information about TIAA, visit our website.
POSITION SUMMARY:
Enterprise Risk Management is an exciting and evolving space in Financial Services organizations. At TIAA we are advancing our Enterprise Risk Management Program. We are looking for a Risk Management (RM) leader to enhance the design of Operational Risk and, at a fast paced tempo, drive the execution of the following three Enterprise Risk Management (ERM) programs:
• Incident Loss Reporting (ILR) program.
• Scenario Analysis (SA) program.
• Product and Service Risk Policy (P&SRP) program (aka. New Product Processes)
The ILR program involves changing the culture of how incidents are viewed and communicated within the enterprise, enhancing the program and system and developing strategy/plans/roadmap for the future state of the ILR program.
The SA program involves guiding the program from enhancement to BAU (Business As Usual), running scenarios from beginning to end and developing strategy/plans/roadmap for the future state of the SA program.
The P&SRP (New Products) program requires the maintenance and enhancement of the Product & Service Risk assessment and maintaining all training and Standard Operating Procedures (SOPs.) The P&SRP program will require forward-thinking concepts to build out the enterprise oversight and reporting on adherence to the P&SRP.
The role requires effective communication about processes and connections with the other ERM (Enterprise Risk Management) programs, analytical thinking, data analysis, knowledge of statistical concepts, ability to work through ambiguity, strong bias towards detail, the ability to present at different levels of the organization and the ability to summarize details into information for senior leaders.
KEY RESPONSIBILITIES AND DUTIES:
Actively contribute to and pursue the strategy, goals and agenda of the Head of Governance, Risk Reporting & Regulatory Matters.
• Drive the build out of a robust Loss Data Program, Scenario Analysis and New Product Process.
• Advance the usage of External Loss Data (ELD) sources.
• Gain support from key stakeholders (e.g., 1st LOD risk managers and CROs).
• Present SA, ILR and P&SRP results back to senior leaders.
• Manage team leading these efforts.
• Effectively communicate with key internal and external stakeholders including regulators.
• Develop materials for and facilitate conversations in ORMC (Operational Risk Management Committee) and ERMC (Enterprise Risk Management Committee) meetings.
• Work with quantitative analysts who will be calculating CTE and the impacts on Enterprise and LOB CAR (Capital at Risk.).
• Develop meetings and present materials with regulators.
• Connect Incident Loss Program results (backward-looking) with Scenarios.
• Connect LOB risks (forward-looking) with scenarios.
• Develop data management strategy for Scenario Analysis.
• Develop and execute an annual Scenario Analysis refresh program.
• Develop forward-thinking concepts on building out the enterprise oversight and reporting on adherence to the P&SRP.
• Provide training and instruction on the effective and consistent use of SA, ILR and P&SRP information.
QUALIFICATIONS:
• Bachelor’s Degree required; a concentration in engineering or finance discipline with heavy math/statistical focus is preferred.
• Prior experience supporting risk or compliance processes or functions is required; 7-10 years’ experience is preferred.
• Experience in individual financial services (consumer banking, wealth management, investment management, insurance, and/or and product management) is required.
• Experience with business process design is required..
• Experience with change management principles is required.
• Experience with Incident Loss programs including both internal and external data is required.
• Experience with Scenario Analysis is required.
• Experience with financial modeling and analytics is preferred.
• Project Management is preferred.
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We are an Equal Opportunity/Affirmative Action Employer. We will consider all qualified applicants for employment regardless of age, race, color, national origin, sex, religion, veteran status, disability, sexual orientation, gender identity, or any other legally protected status.
*©2016 Teachers Insurance and Annuity Association of America (TIAA), 730 Third Avenue, New York, NY 10017 C23921