About the Opportunity
We are working with a reputable commercial bank in New York City that is seeking a skilled Operational Risk Specialist to enhance their risk management processes and contribute to the ongoing development of the risk framework. This role will focus on implementing comprehensive risk assessments, ensuring control effectiveness, and supporting data-driven risk reporting across the organization. The ideal candidate will have experience in managing risk processes, working with governance systems, and facilitating effective risk reporting for senior management. This is a wonderful contract opportunity, and we are looking to fill the position as quickly as possible.
Job Responsibilities
- Lead and manage the execution of risk and control assessments, identifying operational risks and implementing mitigation strategies
- Develop, evaluate, and refine internal controls, ensuring their effectiveness in addressing identified risks
- Take ownership of reporting processes, preparing regular risk updates for management and stakeholders to ensure informed decision-making
- Drive the creation and monitoring of key risk indicators (KRIs) and performance metrics (KPIs), tracking trends and emerging risks across banking operations
- Support the bank’s risk appetite framework, assisting in the monitoring and reporting of risk exposures against established thresholds
- Oversee and optimize the use of the bank’s risk management systems to ensure efficient tracking, reporting, and compliance
- Contribute to scenario analysis efforts to assess potential risks and assist in formulating appropriate response plans
- Partner with business units to integrate risk management practices into their operations, ensuring that all risk-related requirements are met
- Collaborate closely with data governance teams to maintain the quality and accuracy of risk-related data across systems
- Assist in assessing and addressing operational risks associated with the introduction of new products, services, and technologies
- Stay informed on the latest developments in artificial intelligence and its potential applications in enhancing risk management processes
Job Requirements
- 5+ years of experience in operational risk management, risk assessment, or a similar role within the banking or financial services industry
- Strong understanding of banking regulations and risk management practices
- Proficiency with risk management and governance systems such as Watchtower, AuditBoard, or other similar platforms
- Solid background in data governance and an understanding of how data integrity impacts risk management
- Ability to collaborate across teams, including risk, compliance, IT, and business operations, to implement effective risk solutions
- Strong analytical skills with experience in KRI/KPI development, risk data analysis, and performance reporting
- Experience with risk appetite frameworks and the ability to report risk metrics to executive management
- Awareness of AI tools and technologies in the context of risk identification and mitigation
Preferred Skills
- Experience within retail banking, commercial banking, or capital markets is preferred
- Familiarity with regulatory standards such as Basel III, OCC, and FRB guidelines
- Strong communication skills, with the ability to articulate complex risk issues to non-technical stakeholders
- Experience with project management and the ability to lead initiatives within a fast-paced environment
- Advanced skills in data analysis and the use of tools for visualizing and reporting risk data
