Operational Risk Management Lead
Company: Comerica
Location: Dallas
Posted on: April 20, 2024
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Job Description:
Operational Risk Management LeadOperational Risk Management Lead
with extensive knowledge of risk mitigation and internal control
evaluation within the financial services industry. This person must
be a strategic thinker with a solid understanding of risk and
control identification, as well as the ability to identify control
weaknesses and challenge issues as necessary. This position will
oversee a small team and will provide them with coaching and
training. This position must also maintain strong relationships
with the line of business (LOB), other risk partners, and senior
management to effectively influence changes that will improve the
risk and control environment. This position is the key contact for
the Risk and Control Self-Assessment (RCSA) and other Operational
Risk Management tools and programs for assigned areas.Position
Responsibilities:Risk PartnershipKnowledge: Extensive knowledge of
end-to-end processes to be able to serve as a subject matter expert
for operational performance issues that arise. Responsible for more
complex business areas and topics.Analysis of RCSA: Collaborate
with the first line business experts to create a real-time RCSA to
define and document business processes and new initiatives
including the assessment of key processes, risks, mitigating
controls and action plan development. Reach conclusions that are
supported by facts and sound reasoning and that recognize broad
themes and issues.Challenger: Use subject matter expertise and
industry knowledge to provide independent oversight and credible
challenge to the Line of Business' operational risk management
activities. Successfully review and challenge business operational
risk management practices and outcomes. Understand, review and
challenge front line risk acceptances.Trusted Advisor to FLOD:
Become a trusted advisor through developing and maintaining strong
positive working relationships with FLOD, incorporating industry
knowledge of operations for assigned lines of business. Meet with
the business partners regularly and help with ad-hoc projects
including, issues, application changes, vendor changes,
etc.Partnership Throughout Organization: Build and maintain
effective partnerships and communicate effectively with all levels
of the organization including senior management, other risk
partners, internal audit, and regulators to meet overall strategic
objectives.FLOD Prioritization: Provide appropriate risk management
feedback on prioritization by the front line to enable the business
to meet strategic objectives, while meeting operational risk
program expectations.Manage FLOD deadlines: Partner with FLOD on
scope to ensure commitments are achieved within agreed-upon
timeframes and advance appropriately when risks, significant
issues, or challenges arise.Collaborate on LOB Process Changes:
Working with business partners to support and lead initiatives with
that impact key business processes and identify risks and controls
through the Risk and Control Self-Assessment (RCSA)Trend Knowledge:
Collaborate on business and industry trends that present
opportunities and advise the Line of Business in moving forward
with new business in a controlled environment.Risk Management and
Internal ControlsImproving Controls: Apply strong business and risk
judgment and critical thinking in identifying opportunities for
risk and control improvements and then collaborate to develop and
implement solutions. Partner with business and risk teams to
deliver well-managed, innovative solutions.Issues Management:
Assist business units with timely reporting and correction of
operational risk incidents including root cause analysis and
development of mitigating action plans (KPI/KRI/Corrective Action
Plans)Operational Risk Program Challenger: Continuously look for
ways to improve and innovate in the Bank's approach to risk
management. Maintain subject matter expertise on operational risk
management regulatory guidance and industry practices. Leverage
experience to bring industry leading standards, practices, and
tools to the organization.Timely Escalation of Risk Concerns:
Escalate operational risk concerns to ORM management that could
have a significant impact to the Bank's risk profile. Escalate
appropriately and timely any concerns that could put timeliness and
completeness of deliverables at risk.Problem Solving: Collaborate
with the ORM team and business partners to lead projects, solve
problems, and dissect complicated issues. Lead discussions and
answer questions regarding operational and operational risk
topics.Documentation: Must be able to properly document
understanding of end-to-end business processes, in both Word
(narrative) and Flowchart (Visio) formats.Monitoring and
OtherManagement: Oversee a team of 1-3 individuals to manage the
day-to-day operations as described above.Monitor FLOD Testing:
Monitor ongoing testing results to deadlines and perform risk
monitoring activities as assigned, specifically for risks and
controls relative to high-risk business processes.Quality: Perform
Quality Assurance reviews on work of lesser experienced
staff.Improvements: Help lead and/or identify departmental
initiatives and enhancements.Coaching/Training: Assist with the
coaching and training of lesser experienced staff. Assist
Operational Risk Manager/Director: Provide assistance to the
Operational RiskManager and/or Operational Risk Director as needed;
help meet internal deadlines.Other As Needed: Assists with other
risk management activities as neededPosition
Qualifications:Bachelor's Degree from an accredited university OR
Business equivalent; Master's degree preferred10 years of
experience in risk or equivalent experience. Experience in risk
management, governance, or similar role within the financial
services industry. Experience using Archer is preferred10 years of
experience with knowledge of extensive understanding of financial
services processes (i.e. Retail, Commercial Lending, and Banking).
Able to speak to the processes with the management of the FLOD.5
years of experience with change management and
controlLicense/Certifications:Certified Enterprise Risk
Professional (CERP) from the ABAComerica Bank Tower8:00am - 5:00pm
Monday - Friday%387008% %%finance%%
Keywords: Comerica, Dallas , Operational Risk Management Lead, Accounting, Auditing , Dallas, Texas
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