Operational Risk Analyst

Country Bank for Savings • Ware, MA

26d • $65,000 - $85,000

About The Position

We're excited to announce an opportunity for the position of Operational Risk Analyst! This position supports the Bank’s risk management efforts by evaluating operational processes, policies, and controls across departments. The Operational Risk Analyst will assist with risk assessments, policy and insurance reviews, incident response analysis, business continuity planning, and reporting activities, helping ensure the Bank operates in a safe, compliant, and well controlled environment.

Requirements

• It is required that the employee in this position can work independently while interpreting ideas and facts, while also analyzing and interpreting federal and state laws and/or regulations.
• This employee should have keen attention to detail, excellent organizational skills, and ability to manage multiple projects within set deadlines.
• This employee should have strong written and verbal communication skills to effectively communicate risk and control concepts to staff and develop reports and memos to articulate risks.
• This position requires the proven ability to partner effectively across all levels of the organization and develop positive working relationships, along with the ability to work with confidential information.
• Employees who have demonstrated high motivation and a results-oriented mindset are preferred.
• This position requires intermediate knowledge of the Microsoft Office Suite, including Excel and Outlook.
• Basic knowledge of Microsoft Word is also necessary.
• A High School diploma or equivalent is required; A Bachelor’s degree, or equivalent work experience, is required.
• A minimum of two years of work experience in risk management or audit is required.
• Knowledge of banking operational and technology processes is required.

Nice To Haves

• Experience in risk management in the banking industry is preferred

Responsibilities

• Assists in the development and support of the risk assessment process to ensure risks are managed in concert with the bank’s risk appetite statement and to assess compliance with federal and state regulatory requirements, industry standards, and bank operating procedures. Works with risk partners and business lines on risk assessment development and oversight and researches key risks and controls. Participates in risk analysis and risk assessment meetings.
• Provides support and perform analysis of proposed new products and services to ensure new initiatives begin in a manner that minimizes risk to the Bank. Identifies potential business risks, operational, and regulatory process deficiencies and improvement opportunities.
• Coordinates annual policy review and updates via communication with policy owner(s). Analyzes the impact of changes to federal and state regulations and makes recommendations for changes to policies, procedures, and practices. Ensures appropriate Risk Management Committee and Board reporting and approval and maintains approval tickler system. Publishes approved policies and maintains appropriate record retention of all policies. Works with business areas to create new policies and ensure formatting and presentation are aligned with existing policies. Research, as necessary, to confirm new policy content is accurate and appropriate given state and federal regulations.
• Reviews Bank-wide insurance coverage, maintains insurance policies, and coordinates renewals with management and insurance agent. Assists in the preparation of the annual insurance summary presentation to the Board.
• Manages Incident Response reports, performs a root-cause analysis, and documents corrective actions taken.
• Organizes the review of all Business Continuity - Business Impact Analysis (BIA) updates with business areas. This includes the review of all continuity reports prepared by business lines.
• Coordinates the semi-annual review of the FDICIA control matrix with all business areas. Coordinates subpoena responses with relevant business areas. Works with IT Security to send out subpoena documentation. Tracks all subpoena information in Subpoena Dashboard and uploads subpoena and response letter into retention. Provides password for subpoena requestor after completing identity verification.
• Monitors regulatory requirements. Maintains Regulation O tracking and reviews daily Regulation O Overdraft reporting.
• Assesses Operational Risks within Bank and tracks on Operational Risk Dashboard. Drafts memos for presentation of newly added operational risks to Risk Management Committee. Conducts annual review of record retention requirements within Risk Department and for Bank-wide record retention policy and schedule.
• Responsible for building long-lasting relationships with customers, community and colleagues through the embodiment of our Core Values: Integrity, Service, Teamwork, Excellence and Prosperity.
• Other job duties, as assigned.

Benefits

• Medical, dental and vision insurance, a 401(k) Plan with a generous employer contribution plus match
• Income protection benefits
• Educational assistance and tuition reimbursement benefits
• Generous total paid time off, and more!

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level