Operational Risk Lead
The Corporate Strategy and Risk team is responsible for executing the Reserve Banks Enterprise Risk Management. The Operational Risk Lead on the team works closely with the Banks departments and businesses lines to obtain an independent view of risks to foster informed risk taking, decision-making and improved business outcomes. Primary responsibilities of the position are to provide assessment and oversight of the Bank's operational risk posture, primarily through coordination and evaluation of a newly developed Risk and Control Self-Assessment (RCSA) and ongoing risk event reporting. As a critical member of the Banks second line of defense risk management function, this position will report to the Director of Enterprise Risk and Resilience within the Corporate Strategy & Risk department.
Play a leading role in creating an operational risk program within the Banks enterprise risk management framework to strengthen operational planning, controls, actions, communication and resiliency.
Implement the RCSA program by facilitating assessments with the Banks departments and businesses lines to identify risks and inadequacies of internal controls that could impair processes, people, or systems.
Facilitate the development and monitoring of mitigation plans, Key Risk Indicators (KRIs) and risk appetite/tolerance thresholds to remediate key operational risks and control gaps.
Manage and maintain the Banks Risk Events Disclosure, Escalation and Reporting (REDER) procedure to increase departments and businesses lines ability to deliver desired outcomes by better understanding the causes of events (i.e. control gaps or deficiencies) and to ensure effective communication of incidents and trends to the Banks senior management and other key stakeholders.
Provide support for risk aggregation, analysis and reporting using the departments Governance, Risk & Compliance (GRC) tool and other analytical tools.
Support ad-hoc Bank cross-functional and System-wide projects as needed.
Demonstrate well-reasoned decision-making and communications in situations that involve complex issues and analysis.
Actively support a diverse and inclusive work environment, offering and being receptive to diverse perspectives, ideas and approaches
Perform other duties as assigned.
This individual will not directly supervise employees, but will lead assessments and projects and leverage support from others within and outside the Corporate Strategy & Risk department.
Knowledge and experience:
Knowledge and experience normally acquired through, or equivalent to, the completion of a Bachelors degree and a minimum 5 years of job-related experience with strong knowledge of risk management and preferably RCSAs.
The drive to play a leading role in the development and growth of a new operational risk program for the Bank.
Strong organization skills and the ability to manage multiple priorities in a fast-paced, changing environment.
Strong business acumen and interpersonal skills, with an ability to excel in working with a diverse group of senior leaders and other stakeholders.
Strong analytical and problem-solving skills.
The Federal Reserve Bank is committed to a diverse, equitable and inclusive workplace and to provide equal employment opportunities to all persons without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, or military service.
All employees assigned to this position will be subject to FBI fingerprint/ criminal background and Patriot Act/ Office of Foreign Assets Control (OFAC) watch list checks at least once every five years. All candidates must undergo an enhanced background check and comply with all applicable information handling rules.
The above statements are intended to describe the general nature and level of work required of this position. They are not intended to be an exhaustive list of all duties, responsibilities or skills associated with this position or the personnel so classified. While this job description is intended to be an accurate reflection of this position, management reserves the right to revise this or any job description at its discretion at any time.