Lead Operational Risk Business Specialist

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The Lead
- Operational Risk Business Specialist is accountable for proactively identifying potential operational risks and ensuring adequate controls are in the place by the first lines of defense to guard against financial loss and other business risks. As the Lead, supports and enables senior leaders and functional experts across a specific line of business (first line of defense) to integrate risk management practices into their strategic business plans and day to day process responsibilities.

The Lead
- Operational Risk Business Specialist provides a credible challenge to the first line of defense, including Business Risk and Control Advisors, using tools such as: RCSA (Risk and Control Self Assessments); internal and external loss data, Risk Reporting
- Risk Appetite Measurements (RAMs) and Key Risk Indicators (KRIs); independent Risk Assessments, and Issues Management Reporting SLAs in order to promote and ensure a strong risk culture across Bread Financial.

Provide governance & oversight of key operational risk programs including (but not limited to) Risk Control Self-Assessment (RCSA), Issues Management, Risk Assessments, and Operational Loss to verify conformance to standards as established by the organization. Review and challenge risk assessments and control ratings in the business and control environments and provide guidance on risk mitigation and process improvement activities. Ensure the first lines of defense have the necessary tools and clear processes to be well-informed on regulations and execute risk and controls self-assessment (RSCA) and independent risk assessments.

Provide ongoing feedback and training to develop employees on risk concepts and the application to risk and control self-assessment.

(30%) Consult with all levels of leadership for the end-to-end execution of the RCSA program, including control breaks and resolutions, to reduce financial loss, regulatory exposure, and reputational risk.

Strategic advisor for all functional levels to consult with senior leadership; work with partners on the assessment of operational risk, including fraud, legal, compliance, technology and financial risks. Create a proactive risk and control culture that leverages proven evaluation strategies and sound change management protocols. Provide risk expertise while working with the businesses and other risk partners (e.g., Compliance, Credit, Legal, Audit).

Serve as an advocate for the risk program.

(25%) Analyze program related data (e.g., KRI/RAM/Operational Losses, Control Testing Results, etc.) to provide strategic recommendations for business-related programs. Assess the risk associated with new business initiatives and change management activities. Aggregate and produce reporting as needed for various management updates.

(25%) Support business process enhancement driven by new products, strategic initiatives, and business verticals and advise on upstream and downstream operational impacts and dependencies. Identify unmitigated or partially mitigated business risks, which can result in material financial, operational, regulatory, or reputational risks. Strengthen the second line of defense by ensuring sound business practices, processes, procedures, persons, and technology exist in the businesses and that external events and emerging risks are considered and managed accordingly by the first lines of defense.

(20%) Identify unmitigated or partially mitigated business risks, which can result in material financial, operational, regulatory, or reputational risks.