By business line, create and validate a framework that assesses operational risk across a number of different factors and types. Create and validate a quantitative model that uses historical data and potential losses to quantify potential loss in a number of scenarios. Based on modeled results, create mitigating procedures and controls that take into account organizational risk appetite.

Create / validate a framework for the entity and by business line that assesses operational risk across a number of different factors (people, processes, systems external factors) and types (integrity, compliance, IT / cyber, privacy, vendor, physical, legal, etc.) Create / validate a quantitative model that uses historical data and potential losses to quantify potential loss in a number of scenarios including forward-looking idiosyncratic events. Based on modeled results for potential losses, create mitigating procedures and controls that take into account organizational risk appetite, including the tolerance of a specified amount of residual risk. Assess control effectiveness through transaction testing, process reviews and business unit control self-assessments. Summarize results and quantify existing risk levels. Create organizational and unit action plans to reduce residual risk to desired levels. Ensure business partners are aware of their operational risk responsibilities and provide knowledge of policies and procedures. Evaluate new products and customer classes to ensure adherence to policies and procedures.

Work collaboratively across the organization to better understand operational risks and to refine risk ratings. Facilitate partnerships with consulting firms, academic institutions and other financial institutions to improve modeling techniques especially as it relates to calculating risk exposures for operational risk. Work closely with IT, operations staff, compliance and audit to determine and evaluate potential risks and efficacies of policies and procedures. Support long- and short-term planning, new product development, ALM and risk management meetings. Network within the industry through meetings, events and involvement with trade organizations to better understand emerging operational risk trends. Establish relationships with auditors and regulators to better understand their concerns and reduce potential compliance issues.

Demonstrate a working knowledge of the overall business and potential for operational risk in order to design relevant controls / thresholds and analysis. Have a solid understanding of operational risk frameworks to create meaningful categorization of risk, risk ratings, loss estimates, prevention tools and risk management strategies. Apply advanced modeling and analytical skills to create meaningful measurement and reporting on key risk exposures. Display an advanced understanding of information technology, data management and statistical analysis to both prevent and measure operational risk. Be familiar with financial services trends and emerging issues to improve operational risk detection. Display a general understanding of financial crimes, securities and other laws and regulations to create policies, procedures and reporting to reduce regulatory risk. Communicate analytical data effectively.

Recommended years of experience: 7

D&I Commitment

Responsible for fostering a culture of diversity and inclusion, holding leaders accountable for creating an inclusive environment through awareness and practice of equity in recruiting, developing, and promoting diverse talent.