Operational Risk Director

Company: Northwest Consumer Discount Company
Location: Columbus
Posted on: September 19, 2023

Job Description:

The Operational Risk Director within the Risk Management organization is responsible for assisting with the independent oversight of front-line operational risk management effectiveness and will socialize operational risk concepts, frameworks and promote the organizations' risk culture, including education and training. The Operational Risk Director must adapt previous experience and industry leading practices to fit Northwest. This individual will support operational risk management oversight and consulting for all businesses within Northwest, partnering with functional and operational leadership to develop risk mitigation plans, consistent with the Bank's enterprise risk management framework. The role will be an integral part of the operational risk management team and is expected to engage with senior business and risk leaders to influence risk management activities and decisions, and to support our mission through risk-based and data-driven decision making.Essential Functions

• Support company-wide oversight and governance over the operational risk program
• Help to establish and oversee the application of operational risk policies, technology and tools, and governance processes to create lasting solutions for minimizing losses from failed internal processes, inadequate controls, and emerging risks
• Assess risks and drive actions to address the root causes that persistently lead to significant residual operational risk by challenging both historical and proposed practices
• Leverage the current ERM framework and partner with the business to further mature risk assessments, document controls, identify gaps, and create action plans for critical processes, including validation and testing to ensure the operational risk program is implemented and executed appropriately.
• Refine the risk register for operational risk competencies, as well as help create additional ones as appropriate
• Help to establish and oversee the Risk & Control Self-Assessment (RCSA) process, including implementation by the first line, and ongoing oversight and credible challenge
• Lead and attend RCSA workshops, evaluating completeness of identified risks and controls, and assessment of adherence to program requirements.
• Help to monitor, improve, and challenge operational risk appetite metrics (RAMs) and key risk indicators (KRIs), and recommend additional metrics where needed
• Further evolve the Operational Loss program. Administer the operational loss data collection on non-credit operational loss and near miss events, including identification, root cause analysis and retrospective review and reporting. Provide independent oversight and credible challenge of related mitigation activities
• Formalize a Scenario Analysis program (or Structured Management Discussion) utilizing a workshop format to examine and develop non-modeled estimates of the impact and likelihood of plausible low likely-hood/high-impact operational loss events
• Provide oversight and credible challenge to the Enterprise Resiliency Program and complete periodic risk assessments to assess adequacy. Escalate issues or exceptions accordingly
• Provide oversight and challenge to New Business Initiatives, Fraud (in collaboration with Financial Crimes), Change Management, Funds Movement, Third Party Risk, and other areas, as needed
• Review processes and controls against leading practice and industry frameworks, identify gaps in design and execution, and communicate issues and make recommendations to adequately remediate
• Perform independent risk assessment of the first line, inclusive of emerging risks
• Review and challenge of first-line risk acceptances
• Identify trends, themes, tendencies that indicate emerging operational risks by relying on mining trends in relevant metrics, loss data and external events and effectively communicate learnings to business to drive necessary responses and action
• Influence appropriate risk management prioritization by the first line to enable the business to meet strategic objectives, while meeting operational risk management expectations
• Ensure compliance with Northwest's policies and procedures, and Federal/State regulations
• Navigate Microsoft Office Software, computer applications, and software specific to the department to maximize technology tools and gain efficiency
• Work as part of a team
• Work with on-site equipmentEducation + Experience preferred
  • Bachelor's degree in Business Administration, Accounting, or related degree
  • 12 - 15 years of banking or regulatory experience
  • Certified Enterprise Risk Professional (CERP)
  • Certified Public Accountant (CPA)#LI-EK1#LI-HybridEqual Opportunity Employer/Protected Veterans/Individuals with DisabilitiesThe 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)

Keywords: Northwest Consumer Discount Company, Columbus , Operational Risk Director, Executive , Columbus, Ohio