Operational Risk Analyst, Sr

Operational Risk Management Senior Analyst

Old National Bank has been serving clients and communities since 1834. With over $70 billion in total assets, we are a regional powerhouse deeply rooted in the communities we serve. As a trusted partner, we thrive on helping our clients achieve their goals and dreams, and we are committed to social responsibility and investing in our communities through volunteering and charitable giving.

We continually seek highly motivated and talented individuals as our people are critical to our success. In return, we offer competitive compensation with our salary and incentive program, in addition to medical, dental, and vision insurance. 401K, continuing education opportunities and an employee assistance program are also included in our benefit suite. Old National also offers a variety of Impact Network Groups led by team members who are passionate about driving engagement, creating awareness of diverse backgrounds and experiences, and building inclusion across the organization.

We offer a unique opportunity to join a growing, community and client-focused company that is firmly rooted in its core values.

The Operational Risk Management (ORM) Senior Analyst serves as a senior individual contributor within the Second Line of Defense, supporting the ORM Manager through independent execution of complex operational risk activities. The role is responsible for leading risk assessments, performing credible challenge of First Line risk practices, translating operational risk data into actionable insights, and contributing to the ongoing enhancement of the Operational Risk Management Framework.

The ORM Senior Analyst demonstrates strong technical expertise, sound judgment, and the ability to influence stakeholders, while supporting the overall effectiveness of the ORM program.

Salary Range

The salary range for this position is $60,000 - $121,300 per year plus bonus. The base salary indicated for this position reflects the compensation range applicable to all levels of the role across the United States. Actual salary offers within this range may vary based on a number of factors, including the specific responsibilities of the position, the candidate's relevant skills and professional experience, educational qualifications, and geographic location.

Operational Risk Management

• Independently execute and support enhancements to core ORM programs, including Risk and Control Self-Assessments (RCSAs), Operational Loss Event Management, Control Monitoring and Testing, and Issue Management.
• Contribute to the development, refinement, and consistent application of ORM methodologies, procedures, tools, and reporting practices.
• Collaborate with First Line business groups and enterprise functions to assess and challenge operational risk considerations, support business liaison understanding of ORM expectations, and promote consistent application of operational risk practices across business continuity planning, third-party risk, change initiatives, and other activities with operational risk exposure.
• Apply effective Second Line challenge to First Line risk identification, control design, and remediation plans.
• Perform other operational risk management duties, special projects, and program initiatives as assigned to support evolving ORM priorities, regulatory expectations, and business needs.

Risk Assessments

• Lead risk assessments for assigned lines of business and facilitate RCSAs for Second Line enterprise functions in accordance with established ORM methodology, including identification of risks outside established risk appetite, tolerance, or expected control performance.
• Evaluate inherent risk, control effectiveness, and residual risk using established ORM rating methodologies and supporting evidence.
• Review and challenge First Line RCSA outputs and provide clear, risk-based feedback on assessment results, risk and control taxonomy alignment, control design, ratings, and supporting rationale.
• Document assessment results, including risk ratings, control evaluations, key observations, and agreed-upon remediation actions.
• Track ORM challenges and related management responses, validating closure evidence and completion of agreed-upon actions.
• Communicate assessment results, key themes, risk appetite or tolerance concerns, and escalation items to management and appropriate governance committees or forums.

Control Monitoring, Testing, and Issue Management

• Execute independent control monitoring and targeted testing based on risk profiles, control performance, emerging issues, and ORM priorities.
• Analyze testing results, identify root causes or contributing factors, and recommend risk-based remediation actions, including escalation of control deficiencies into formal issues when warranted.
• Track remediation progress and escalate overdue or high-risk issues.
• Perform independent validation of issue remediation to confirm corrective actions effectively address identified risks, root causes, and intended…