Towne Bank

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Risk Management Analyst - Operational Risk (On-Site in Suffolk, Virginia)

at Towne Bank

Posted: 3/14/2020
Job Status: Full Time
Job Reference #: 660d2c65-7511-457d-aa01-917b019e80a8
Keywords: operations

Job Description

Essential Duties:

  • TowneBank and its affiliate companies support a diverse workforce and are Equal Opportunity Employers who do not discriminate against individuals on the basis of race, color, religion, national origin, age, sex (including pregnancy and gender identity), genetics, sexual orientation, disability, veteran status or other classification protected by law. We are interested in any qualified candidate who is eligible to work in the United States; however, we will not sponsor work visas.
  • Manage Risk and Control Assessment (RCSA) for assigned Lines of Business
  • Review and challenge risk and control assessments completed by the business lines.
  • Perform additional risk oversight and assessment activities including, but not limited to operational loss data validation, control testing and validation, root cause analysis of significant fraud and other risk events, preparation of management reports, and targeted risk and control assessments.
  • Responsible for specifying and sourcing applicable operations' data, analyzing the information to identify the principal sources of risk and to provide management reporting to assist management and the Board in making better informed operational business decisions with a focus on forward looking metrics.
  • Assesses business risks and works with the Process Owners to ensure adequate detective and preventative controls are in place to mitigate risk.
  • Represents the ORM Department as subject matter expert on cross-functional operational risk initiatives/projects.
  • Engages in root cause analysis and works with the appropriate groups to recommend controls and solutions when researching risk events, operational processes, and new regulatory initiatives.
  • Manages risk events and risk action items to closure.
  • Provides feedback to the line of business around risks, controls, testing, remediation and reporting.
  • Works with the line of business to develop relevant and measurable key risk indicators.
  • Provides feedback on operational risks associated with the offering of new products and/or services and business initiatives.
  • Develops awareness and training on operational risk across the corporation.
  • Introduces and provides oversight and training on process management concepts and the importance of developing and monitoring performance metrics for key processes within assigned line of business.
  • Measures, monitors and reports on operational risk for different functions in the various operations of the Bank by analyzing key risk indicators and other metrics.
  • Provides identification and delivery of risk mitigation solutions to the business lines and partners for operations areas.
  • Works with business lines to promote acceptance of the operational risk framework and further embed a culture of operational risk identification and mitigation.
  • Produces value added risk identification and reporting impacting senior management decision making.
  • Develops key initiatives related to improving controls or implementing new regulations project management work involving the advancement of the risk framework build out in the function specifically in operations.



Minimum Required Skills and Competencies:

  • Bachelor's degree in area of specialty and at least 5 years of experience in the field or in a related area
  • Strong understanding of Process Management
  • Strong understanding of standard concepts, practices, and procedures within Risk Management
  • Excellent interpersonal skills
  • Strong organizational skills

Desired Skills and Competencies:

  • Six Sigma Certification.