Operational Risk Consultant

Allied Solutions LLC•Carmel, IN

About The Position

The Operational Risk Consultant collaborates with the organization’s risk management operations and enterprise technology teams to evaluate operational processes, policies, and procedures, identifying potential risks to the business. This role plays a vital part in delivering high-quality financial services by leading efforts to assess, monitor, and report on the risks associated within the organization’s operations, ensuring effective risk mitigation and informed decision-making.

Requirements

Bachelor’s Degree is required.
5 – 7 years of relevant work experience is required.
Extensive knowledge and application of operational risk management concepts required
Experience in assessing risk and translating findings into actionable plans required
Ability to organize and analyze data including proficiency in Microsoft Excel and Smartsheet required
Ability to write professional and concise summaries including proficiency in Microsoft Word and PowerPoint required

Responsibilities

Develop, document, and maintain a risk and control framework for assigned business units via a risk and control matrix (RCM) in conjunction with risk assessments and audit activity.
Recommend systemic approaches for change management- ensuring proper documentation, appropriate ownership assignment, and minimizing service disruptions.
Collaborate with functional business units and technology departments to assess inherent risk on operational processes and policies to ensure effective risk mitigation procedures are in place and solutions are implemented to improve quality and efficacy of those solutions.
Engage on process improvement initiatives by assessing risk and recommending control measures for new process designs.
Monitor and communicate control updates based on changes in risk profiles and ensure compliance with audit and risk management protocols.
Work with Operational Risk Analyst to manage capacity planning and benchmarking for RMO requirements
Collaborate with legal, information security, and operational teams to address non-compliance issues, ensure operational business continuity documentation, tests and updates, and support external audit requests.
Develop, implement, and execute control testing, continuous assurance, and reporting programs within an assigned business unit of RMO, SOC, and Ancillary Areas outside of RMO in accordance with the Ops Risk & Controls Test Plan.
Prepare and present presentations, executive summaries and perform roughly 50% of Peer Reviews.
Analyze and document report findings and have preliminary discussions with corresponding control/process owners through testing results.
Assist with the development of Control Testing Risk Assessments, Monitoring Quarterly Quality Summaries and the development and enhancement of the Control Testing Methodologies and Standards for auditing, testing, monitoring, and reporting.
Lead and/or participate in moderate to high risk or complex review activities in a matrixed environment and communicate emerging risks to leaderships within Ops Risk & Controls.
Review and research moderately complex potential corrective actions, and follow through on reporting, escalation, and resolution.
Help facilitate any special projects that may arise outside of core testing responsibilities.
Ensure effective and appropriate testing, validation, and documentation of review activities for risk programs and controls according to standards and other applicable policies.
Partners with the various Quality Management (QA, BSM, Ops Risk Analyst, etc.) departments to document and report risk information identified within the designated business units.
Delivers the QM Summary to the assigned business unit on a set frequency based on the results of the business unit’s overall assessment rating (audit activity, complexity and risk)
Conduct thorough reviews of business unit procedures to ensure alignment with risk management frameworks and regulatory compliance requirements.
Evaluate procedures for potential operational, strategic, financial, and compliance risks, providing actionable recommendations to mitigate identified gaps.
Conduct thorough reviews of business unit procedures to ensure alignment with risk management frameworks and regulatory compliance requirements.
Evaluate procedures for potential operational, strategic, financial, and compliance risks, providing actionable recommendations to mitigate identified gaps.