Operations Risk Consultant; Remote

Overview

The Operational Risk Consultant partners with the organization’s risk management operations and enterprise technology departments to evaluate the company’s operational processes and policies and identify procedures that pose risks for the business. This position is critical to providing quality financial services to our clients by leading efforts to report, assess and monitor the risks of our organization’s operations.

• Business Unit Risk & Control Self Assessments (RCSA) (25%):
  In collaboration with functional business units and technology departments, assess risk on operational processes and policies to ensure effective risk mitigation procedures are in place and solutions are implemented to improve the quality and effectiveness of those services.
• Recommends a systematic approach to managing all changes made to a product or system within Risk Management Operations (RMO) change management/change control process. Ensures that no unnecessary changes are made to assigned business units, all changes are documented for assigned business units, services are not unnecessarily disrupted; and resources are used efficiently and effectively.
• Coordinates with business units and technology areas to prioritize identified risks, ensure appropriate controls are put in place to mitigate that risk and improve the quality of services provided by documenting a risk & control environment/framework for each assigned business unit. Identify & evaluate risks (low, medium and high);
  Identify specific controls (primary vs secondary);
  Assess & rate the controls;
  Action planning as needed for control failures;
  Monitor RCSA results;
  Report RCSA results to leadership on a set frequency based on overall assessment rating;
  Control testing in conjunction with QA’s audit activity and frequency.

• Engages on operational process improvement projects to provide expert risk management assessment and advice regarding potential risks and control methods associated with the proposed process designs.
• Reviews, documents, and monitors the assigned functional business units’ risk & control matrix (RCM) in conjunction with risk assessments and audit activity.
• Reports and communicates control updates and enhancements based on risk changes. Determines RCM approach for assigned business units: process, risk or control-based;
  Identify designated RCM sections: financial reporting elements, objectives, risks, controls and testing;
  Identify risk;
  Determine risk criteria;
  Rank risk;
  Assess Risk;
  Prioritize the risks;
  Implement control measures to mitigate risk.

• Develop, implement, and execute control testing, continuous assurance, and reporting programs within an assigned business unit of RMO in accordance with the Ops Risk & Controls Test Plan.
• Analyze and document report findings and have preliminary discussions with corresponding control/process owners.
• Assist with 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.
• Ensure effective and appropriate testing, validation, and documentation of review activities for risk programs and controls according to standards and other applicable policies.

• Identify, prioritize, and assign accountability for managing strategic, operational, financial, and reputational risks (any risk significantly impacting the organization’s ability to achieve its strategic objectives). Ensures documented standards, processes and procedures in place. Confirms oversight and governance with organization and reporting requirements. Provides recommendations regarding training, development and education…