Operational Risk Manager

Jersey City or, NYC

Brief Description:

Our client, a Global Bank, is seeking an Operational Risk Manager in either their Jersey City or NY office.

Job Function:

 In charge of running the 1st Line of Defense operational risk processes on the perimeter assigned and compliant with the instructions given by your manager. These processes include but are not limited to the following:
  • Operational Incidents (losses, gains and near-miss)  
    • Support functional teams and managers in the reporting of their operational events in Caroline.
    • Perform a critical review of operational events reported in Caroline, especially on the information deemed as root cause, and ensuring relevance of the action plans proposed,
    • Ensure postmortem is performed and events are analyzed to define corrective action plans,
    • Ensure that action plans decided are implemented, and report to senior management related status.
    • Inform the management of your perimeter about the losses and events that occurred.
  • Third Party Risk
    • Work with the functional areas to:
    • Identify and catalog the comprehensive listing of services provided to the Bank  by third parties (internal or external).
    • Ensure that operational risks related to services provided off-shored, near shored or outsourced are identified and mitigated.
    • Develop and monitor any required action plans designed to reduce the level of risk exposure from these services.
    • Collaborate with internal and external parties within the life-cycle of third party risk management.
  • Key risk indicators  
    • Work with the functional areas to identify/validate the risk indicators that are relevant to the perimeter.
    • Ensure that these indicators are produced and analyze them at a frequency appropriate to the level of risk.  
    • Work with the functional managers to understand any specific risk items, developing trends or any emerging risks within the region.
    • Raise alerts to the management of the perimeter when risk indicators evidence an increase in risks. Suggest action plans to mitigate those risks.
    • Actively contribute to the SAFE reporting (regional and global) for KRI’s to senior management.
  • Risk and Control Self Assessment (RCSA)
    • Administer the annual risk control self assessment process (preparation, interview, formalization in SgMART, validation by manager) with the various lien managers in the functional areas.
    • Review the RCSA feedback provided by the functional areas against quantitative and qualitative data (i.e. operational losses, audit findings, permanent supervision & spot check results, KRI trends, etc.) and challenge risk or control scoring wherever appropriate.
    • Compare regional results versus similar perimeters in other regions & determine if any anomalies need to be investigated and justified.
    • Prepare and formalize consolidated RCSA on your perimeter (if relevant)
  • Permanent Supervision  
    • Support the managers of your perimeter in adapting their permanent supervision framework on an ongoing basis,
    • Develop a critical view on the permanent supervision framework in place on your perimeter. Ensure that this framework is adequate and effective given the risks identified.
    • Monitor and analyze on a regular basis the key indicators related to permanent supervision (performance ratio, anomaly ratio, overdue action plans…). Review the anomalies identified by the permanent supervision controls and ensure that they are addressed.
    • Continuously and proactively work with managers in your perimeter to ensure that all PS deliverables are understood and met.  
    • Administer GPS requests received from the teams for new controls, edits to existing controls, responsibility changes, data requests, etc.
  • Audits & Examinations  
    • Work with internal and external auditors and examiners (i.e. E&Y, D&T, FRB, NYS, Finra, CFTC, etc.) to provide answers on any operational risk topics inquired about.
    •  Ensure a proactive follow-up of audit recommendations on your perimeter (audit recommendations include recommendations issued by Internal Audit, Inspection, Regulators and External Auditors);
    • Partner with senior management to ensure that they are aware of any items overdue or coming due.
    • Liase with SAFE Paris to provide up to date status and reporting on regional audit deliverables.
  • Process Reviews
    • Perform periodic process reviews on various processes or controls within the assigned perimeter.
    • Report to senior management the results of the spot checks & work with the teams to establish any remediation actions necessary.
  • Operational risk Committees & Forums
    • Present operational risk topics to the Operational Risk Committee for the assigned perimeter
    • Actively contribute and participate in the various risk related forums and committees as required.
  • Operational Awareness
    • Plan and conduct operational risk awareness training sessions designed to raise awareness of the functional teams that the OSM is covering.
    • Through the course of day to day interaction the OSM will educate the functional areas on various risk topics and concerns.
  • Brazil and Canada
    • Work to ensure Operational risk processes are covered in all AMER regional offices including those in Brazil and Canada.


  • Excellent technical knowledge on the perimeter covered (products, processes, controls, information systems, risks, functions)
  • Excellent knowledge of the operational risk environment (regulations, processes). Risk management skills.
  • Familiarity with audit methodology (ability to structure an approach, formalization of work done, substantiation and justification of conclusions, ability to perform substantive tests when necessary)
  • Good knowledge of usual IT tools (Excel, Word, PowerPoint)
Personal Skills
  • Analytical
  • Communication skills both written and verbal
  • Result oriented
  • Excellent interpersonal relations & influence.
  • Ability to work well in small team settings.
Management Skills
  • Ability to effectively manage small groups from varied departments in the collection & analysis of information relating to Operational Incidents.

Contact Details:

Dan Alzapiedi

914-524-0301 ext 151