Senior Analyst, Operational Risk Management

About the role

The Operational Risk Management (“ORM”) Department is responsible for the Risk Mitigation Framework, which includes Risk and Control Self-Assessment (“RCSA”), Issue Management (“IM”), Vendor Risk Management (“VRM”), Business Continuity Management (“BCM”), and Internal Control Testing (“ICT”).

Responsibilities

• Support the development and implementation of initiatives and tasks associated with the VRM and BCM programs.
• Assist with the implementation of the VRM framework, providing direction to the ‘first line of defense’.
• Support management of the central vendor repository for the Firm and supporting the automation of vendor on-boarding and off-boarding processes.
• Ensure vendor risk oversight, including visibility of existing and emerging threats and identifying mitigation plans.
• Support the execution of VRM training to ensure effective application and program awareness firmwide.
• Stay informed of industry developments and regulatory requirements ensuring compliance and proactive adaptation.
• Liaise with third-party vendors as required.
• Create and maintain VRM and BCM-related reporting to meet the needs of senior management and oversight committees.
• Proactively identify, track, and analyze operational risks within the Firm and implement control improvements.

Qualifications & Experience

• Bachelor’s degree required.
• 4+ years of experience in financial services risk management, management information systems or related role.
• Experience and detailed knowledge of third-party risk management, financial services industry practices, internal controls and regulatory requirements.
• Certifications (Preferred): Operational Risk Management Certificate, Certified Third Party Risk Management Professional (C3PRMP), Certified Internal Auditor (CIA) or Financial Risk Manager (FRM) Designation.
• Understanding and experience with operational loss causes, measures and mitigation strategies.
• Experience analyzing Excel reports with ability to run formulas preferred.

Critical Competencies for Success

• Leadership: Role models in this area consistently focus on the right goals and priorities and continually develop themselves and others. Always team players, they influence and engage with others to contribute to a supportive and inclusive culture where all feel welcome.
• Achieving Results: Role models in this area are high achievers who develop careful plans and deliver consistently and effectively. They hold themselves and others accountable for delivering high quality results, and they remove barriers to ensure others can contribute and grow.
• Personal Effectiveness: Role models in this area build strong relationships, treat others with respect and communicate effectively. They are driven to exceed expectations and are adaptable to changing circumstances.
• Thinking Critically: Role models in this area understand our business, rely on analytical reasoning and seek diverse perspectives to solve problems. They are forward thinking, anticipating issues and addressing them in advance.

Change Management

Communicates the benefits and the impact of refinements to internal processes or technology.

Innovative Mindset

Leverages an agile and creative mindset to drive innovative value creation, continuous process improvement and proactive learning through new technology, processes and people.

Risk Management

Identifies, forecasts and articulates ways to pursue and manage informed risks in ambiguous, complex or uncertain situations based on sound value propositions and an analysis of potential rewards and costs.

Technical Communication and Documentation

Documents and communicates technical processes and procedures in area of specialty to stakeholders. Adapts the level of detail and specificity based on the needs of the intended audience.

Industry Knowledge

Demonstrates an understanding of risk management and the Firm's position in the industry, including its complex structure and competitive advantage in the marketplace. Monitors industry trends and changes and recognizes their relevancy and implications.

Business Needs Assessment

Identifies business needs across departments within the Firm to understand the challenges, goals and problems that the business needs to solve and identifies appropriate technical solutions.

Project / Program Management

Manages projects and / or programs through planning, identifying resources, monitoring and communicating project activities and assessing impacts of project decisions.

Compensation And Benefits

For Illinois Only: It is expected that the base salary range for this position will be $80,000 to $120,000. Actual salaries may vary based on factors such as skills, experiences and qualifications for the role. The total compensation package for this position may also include other elements and discretionary awards in addition to a full range of medical, financial and / or other benefits (including 401(k) eligibility and various paid time off benefits such as vacation, sick time and parental leave) dependent on the position offered.