Operational Risk Analyst

Valley Bank • 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 ensures 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 for risk and control self-assessments, and participating in significant risk-related projects and assessments that impact the bank's risk profile.

Requirements

• Technical aptitude and motivation to learn all aspects of the Risk system (GRC).
• Excellent oral and written communication skills.
• Knowledge of 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.
• Proactively engage stakeholders to lead the implementation of enhanced processes and controls.
• 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.
• Test the supervisory process to ensure adequate coverage.
• Participate in significant risk-related projects, initiatives, and special risk assessments.

What This Job Offers

• Education Level: Bachelor's degree
• Number of Employees: 1,001-5,000 employees