Business Unit Operational Risk Function Manager
About The Position
The Business Unit Operational Risk Function Manager ensures that line-of-business operations comply with regulatory and legal requirements and organizational policy. The role connects first-line, second-line, and enterprise support units to support effective execution of the Operational Risk Framework across the specified business-line group. The position oversees compliance reviews, operational risk processes, risk events, new business initiatives, and business continuity planning. It provides management reporting and recommendations, supports regulatory and audit activities, and works with business units to identify and mitigate risk while improving operating procedures.
Requirements
- Bachelor’s degree in a related field.
- Seven years of experience in finance, risk, or operations, with significant specific experience in business-line operations or underwriting.
- Ability to learn additional systems as needed.
- Ability to research and analyze data and derive facts.
- Ability to work under pressure and meet deadlines.
- Proficiency in Microsoft Office, including Excel, Word, PowerPoint, and Outlook.
- Strong verbal and written communication and organizational skills.
- Strong work ethic and self-motivation.
Responsibilities
- Conduct compliance reviews and oversee legal entities, business units, and processes.
- Maintain documentation and report compliance matters and potential issues to management.
- Provide requested information to regulatory agencies and monitor compliance with applicable laws and regulations.
- Guide first-line, second-line, and enterprise support units in executing the operational risk management framework, including risk and control self-assessments, new initiative risk assessments, operational risk/loss events, scenario analysis, emerging risk identification, and front-line risk assessments.
- Manage compliance processes by comparing current processes with identified processes and policies.
- Report to management and recommend ways to prevent errors.
- Monitor, evaluate, and remediate operational risk/loss events, including root cause analysis and process improvement recommendations.
- Analyze new business initiatives and projects and manage risk-related changes.
- Coordinate business continuity plans and conduct annual training and business impact analysis testing.
- Conduct quality-control audits in collaboration with business-line operations departments.
- Serve as liaison to internal and external auditors and Regions Data Foundation.
- Work with business units to understand their business, drivers, concerns, and future plans, and provide support to mitigate risk.
- Conduct presentations and workshops on risk identification and mitigation.
- Promote continuous improvement in operating procedures to avoid risks.
- Ensure compliance with vendor risk management policy and regulations by reviewing and analyzing contracts, agreements, and statements of work.
- May maintain the business unit Responsible, Accountable, Consulted, and Informed (RACI) chart.
Benefits
- Paid vacation/sick time
- 401K with company match
- Medical, dental, and vision benefits
- Disability benefits
- Health Savings Account
- Flexible Spending Account
- Life insurance
- Parental leave
- Employee Assistance Program
- Associate Volunteer Program
- Annual discretionary incentive plan
- Opportunity to participate in the Long Term Incentive Plan
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What This Job Offers
Job Type
Full-time
Career Level
Manager
