This incumbent will support the operational risk management activities, including Risk and Controls Assessment, Process Library Management, Risk and Controls Taxonomy, Controls Testing, Issues Management, and Risk Analytics in accordance with Heightened Standard. S/he will administer and manage operational Risk and Control Self-Assessment (RCSA), including Control Testing. S/he will also participate in the design, enhancement, and execution of the RCSA program to provide support in identifying, assessing, monitoring, and escalating significant risks, issues, and concerns identified as part of risk assessments performed by the first and second lines of defense.
Job Responsibilities
Include but are not limited to:
- Support the bank-wide coordination of the RCSA process in close collaboration with front line units to ensure consistency with sound risk management standards and internal policy and procedures
- Execute the following operational risk management activities: risk and control assessments, process library management, risk and controls taxonomy, controls testing, issues management, risk analytics
- Maintain all associated process documentation, risk taxonomies, policies and procedures
- Execute testing and quality assurance programs
- Ensure effective implementations of the Bank’s operational risk management programs through training, awareness and monitoring
- Promote sound operational risk management culture across the Bank by supporting and providing oversight to the first line of defense through various operational risk management programs
- Review and challenge risk assessments conducted by the first and second lines of defense
- Develop a timely and efficient remediation plan for operational risk management framework issues, and oversee the implementation of rectification
- Prepare material for regulatory examination, including OCC examination, internal and external audits
- Support management reporting, including all ad-hoc tasks as they arise
Job Requirements
- Bachelor’s degree is required; Master’s degree is preferred
- Minimum 5 years of work experience in banking, with at least 5 years of work experience in operational risk management plus at least 3 years of experience related to RCSA or other risk and controls are required
- Solid analytical skills and computer skills (Microsoft office including Microsoft Access and Visio) are required
- Familiarity in knowledge of regulatory environment, processes, activities, requirements of a foreign banking organization, operational or enterprise risk management concepts, framework, methods, and governance practices
- Deep understanding of RCSA or Enterprise Risk Management Risk Assessment and Control testing program is required
- CFA, CPA, FRM or other Risk Management-related certifications are preferred, but not required
The salary range for the AVP position is $65,000.00 - $150,000.00. The salary range for the VP position is $110,000.00-$230,000.00. Actual salary is commensurate with candidate’s relevant years of experience, skillset, education and other qualifications.
