What are the responsibilities and job description for the Sr Operational Risk Analyst position at Valley Bank?
Reporting to the Head of Operational Risk, the Sr Operational Risk Analyst is responsible for developing, implementing, and maintaining the Operational Risk Framework to effectively manage the operational risk profile of the bank. The function will ensure that internal governance, monitoring and reporting of all key risks are completed in a timely and accurate manner. Additionally, the role will be responsible for the risk assessments for specific business lines and support teams. The function will also be responsible for monitoring all associated issues, actions and events and provide reporting to upper management and Board reporting. The role will also be involved in ad hoc projects through the bank with the goal of mitigating control and process failures.
Responsibilities include, but are not limited to :
- Perform the initial analysis of incidents and identify any impact. With guidance, conduct a mini front-to-back analysis of incidents to determine if an enhancement is needed to a function / process / control and ensure that operational risk incidents are properly posted to and processed through the Risk Incident Tracking Application (GRC).
- Risk Identification Contribute to the planning and performance of internal reviews of procedures and controls residing within various product and business areas to ensure that controls are adequately designed and are operating effectively in preparation for all audits, compliance exams, and regulatory inquiries.
- Risk Mitigation and testing - Proactively engage appropriate stakeholders and partners to lead the implementation of enhanced processes and controls build-outs as well as targeted second line testing for any identified control gaps or opportunities for enhancement.
- RCSA Coordination Coordinate with risk owners in the business to continue to enhance the risk and control self-assessment to ensure that risks and controls are documented around current supervisory processes and test the supervisory process to ensure coverage is adequate.
- Participate on significant risk related projects, initiatives and special risk assessments that impact the risk profile of the bank.
Required Skills :
Required Experience :
Bachelor's Degree majoring in Finance, Accounting or Business-related discipline and a minimum of 5 years' experience in activities relating to banking and the financial services industry.
