The role of Operational Risk Management (ORM) Director, reporting to the Enterprise Risk Management Director, is pivotal in overseeing and enhancing the Bank's ORM program. Responsibilities include developing and supporting all facets of operational risk management aligned with strategic objectives and regulatory requirements. This involves implementing policies and procedures, ensuring compliance with laws and regulations, and envisioning the program's evolution over the next 3-5 years.

The position requires proactive decision-making and independent judgment to manage daily risk activities, collaborating with business units and other risk areas. Key duties encompass identifying and mitigating operational risks across people, processes, technology, and external events within the bank's risk appetite.

Furthermore, the ORM Director leads the Risk and Control Self-Assessment (RCSA) program, aiming for its gradual implementation and advancement as per the ORM roadmap. Additionally, oversight of the Operational Loss program, in collaboration with the Fraud team under Financial Crime Prevention, underscores the focus on safeguarding customers, assets, and employees.

Principal Duties & Responsibilities:

• Develops and implements a robust ORM change management process, aligning it with the enterprise framework. This includes interpreting new regulatory guidance and laws, conducting risk analysis, assessments, and engaging stakeholders to develop action plans.

• Establishes and oversees the application of operational risk policies, technologies, tools, and governance processes to minimize losses from internal process failures, inadequate controls, and emerging risks.

• Ensures timely completion and accuracy of all ORM reports required by the department. Manages identification, logging, resolution, and reporting of risk events, loss reports, near misses, and other assessments.

• Continuously analyzes and improves the operational loss program to ensure losses are identified, analyzed, and reported consistently and promptly. Drives actions to address root causes of operational risk losses.

• Partners with Financial Crime Compliance and Fraud teams to implement best practices for detecting, preventing, and reporting fraud schemes effectively. Prepares ORM presentations following established reporting guidelines.

• Leads and sets direction for the Risk and Control Self-Assessment (RCSA) program.

• Assesses departmental staffing and systems needs, staying informed of industry standards to effectively manage operational risk. Liaises with ORM and ERM experts, including those from BCI.

• Updates bank policies impacting Operational Risk in line with best practices and regulatory requirements. Ensures timely response to regulatory changes, internal audits, and examinations.

• Tracks, resolves, and reports pending Operational Risk matters to the Board Enterprise Risk Committee promptly.

• Participates in due diligence for new products, services, or lines of business, providing management with risk exposure assessments and mitigation strategies.

• Engages in integrated risk management training and seeks certification from recognized ORM organizations to uphold best practices.

• Provides ongoing Operational Risk reports to the Board of Directors and relevant committees, as required.

• Reports to the Board on operational risk issues and recommends new practices or systems in collaboration with BCI ERM.

• Ensures adherence to COSO principles in testing, validating controls, and providing necessary FDICIA attestations. Coordinates with external auditors on regulatory matters.

• Oversees and assists staff in responding to risk events, ensuring diligence and accuracy.

• Sets processes for analysis of consumer complaints to understand operational control failures and needed remediation plans.

• Evaluates technology use for process efficiencies, program improvements, and data reporting while mitigating operational risks.

• Pursues appropriate certification for ORM employees continuously.

• Develops a strong ORM culture across all business lines, fostering buy-in and commitment.

• Assists the ERM Director in special tasks/projects or designated responsibilities as needed.

• 5-7 years of relevant experience in risk management at a financial institution, particularly experience with Operational risk processes.
• Experience in other risk disciplines a plus, including compliance, Technology, BSA/AML/OFAC, fraud, legal and reputational.
• Experience with controls testing.

• Experience with operational risk Policies, programs and procedures at a large financial institution preferred

• In depth knowledge of practices, principles, and inter-relationships of broad banking areas, especially in the areas covered under the auspices of the Banks ERM program.

• Strong leadership and collaboration skills to partner effectively with Financial Crime Compliance, Fraud teams, and other stakeholders in implementing best practices and processes.

• Strong verbal and written communication skills to effectively liaise with stakeholders, present ORM reports to the Board of Directors and committees, and provide training to employees and management.

• Excellent analytical skills to conduct risk analysis, assessments, and due diligence for new products or services, providing insightful guidance on risk exposure and mitigation strategies.

• Ability to make informed decisions based on analytical insights and regulatory interpretations.

• Ability to exercise discretion and independent judgment in matters of significant operational risk to the bank.

• Bachelor's Degree in Business, Finance or Accounting Required.
• Master's Degree in Business, Finance or Accounting Preferred.

• Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities.
• Please view Equal Employment Opportunity Posters provided by OFCCPhere.
• The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)
• Reasonable accommodation may be made to assist individuals with disabilities to complete the online application process. Please contact our Human Resources Department at 305-577-7680 or by e-mail at employment@citynational.com.