Operational Risk Analyst

Valley National Bancorp • Morristown, NJ

69d

About The Position

The position involves performing initial analyses of incidents to identify impacts and conducting mini front-to-back analyses to determine if enhancements are needed in functions, processes, or controls. The role requires ensuring that operational risk incidents are properly posted and processed through the Risk Incident Tracking Application (GRC). Additionally, the candidate will contribute to planning and performing internal reviews of procedures and controls across various product and business areas to ensure effective design and operation in preparation for audits, compliance exams, and regulatory inquiries. The role also includes engaging stakeholders to implement enhanced processes and controls, coordinating with risk owners to enhance risk and control self-assessments, and participating in significant risk-related projects and assessments that impact the bank's risk profile.

Requirements

• Bachelor's Degree majoring in Finance, Accounting or Business-related discipline.
• Minimum of two years' experience in activities relating to banking and the financial services industry.
• Technical aptitude and motivation to learn all aspects of the Risk system (GRC).
• Excellent oral and written communication skills.
• Knowledge of the various functions of a commercial bank (including retail/commercial lending, wealth management, investments, operations, etc).
• Ability to effectively respond to shifting priorities and assignments.
• Proficient PC skills in Microsoft Office suite -- Power BI, Word, Excel, and PowerPoint as well as GRC software.
• Sound analytical and research skills.
• Ability to prepare executive and Board-level reports including memoranda and PowerPoint presentations.
• Well-organized and detail oriented.
• Ability to meet deadlines and expectations with little or no supervision.

Nice To Haves

• Minimum of two years' experience in activities relating to Risk Management.
• Experience using a Risk System (GRC) such as Logic Manager, Metric Stream, RSA Archer, etc.

Responsibilities

• Perform the initial analysis of incidents and identify any impact.
• Conduct a mini front-to-back analysis of incidents to determine if an enhancement is needed to a function/process/control.
• Ensure that operational risk incidents are properly posted to and processed through the Risk Incident Tracking Application (GRC).
• Contribute to the planning and performance of internal reviews of procedures and controls within various product and business areas.
• Ensure that controls are adequately designed and operating effectively in preparation for audits, compliance exams, and regulatory inquiries.
• Engage appropriate stakeholders to lead the implementation of enhanced processes and controls build-outs.
• Conduct targeted second line testing for identified control gaps or opportunities for enhancement.
• Coordinate with risk owners to enhance the risk and control self-assessment.
• Document risks and controls around current supervisory processes and test the supervisory process for adequate coverage.
• Participate in significant risk-related projects, initiatives, and special risk assessments that impact the risk profile of the bank.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Industry: Credit Intermediation and Related Activities
• Education Level: Bachelor's degree