Operational Risk Manager
Wsfs Financial

Job Info

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Position type: Full-time

Location: Wilmington, DE or Philadelphia, PA

Schedule: Monday – Friday 8am-5pm

Hybrid/Onsite

Description:

The Operational Risk Manager will develop and align the Operational Risk Framework in partnership with the Enterprise Risk Management team. To facilitate risk, the incumbent will work with the first line of defense (FLOD) business units and other second lines of defense (SLOD) risk groups. The incumbent will identify, measure, monitor, and control operational risk profiles across the organization. The Operational Risk Manager is responsible for developing the ORM processes and professional practices, managing the implementation, and providing company-wide leadership. The incumbent will identify, guide, and assess the company's operational risks by deploying a uniform risk assessment methodology. This role will support Company-wide awareness of risk management principles by developing and deploying a common language to standardize the recognition, measurement, and aggregation of operational risks and controls throughout the company in conjunction with the risk and control owners. The Director of Operation Risk Management will implement operational risk reporting and maintain an Operational Loss Event Program. The incumbent will liaise between key FLOD and SLOD business stakeholders to establish partnerships and become a trusted advisor.

Responsibilities:

• Developing and/or implementing policies related to Operational Risk Management; consults with members of management on the development or enhancement of existing policies ensuring that risk limits and/or other relevant risk measures are incorporated into policy directives or delegated to programs or procedures as warranted.
• Developing, along with other Risk Management leaders, a common language of risks and controls for use throughout the institution to foster an understanding of risk management topics and terms, and their use within the business.
• Providing consultation to the business on projects, new initiatives, business objectives, processes, risk events, controls, and/or monitoring.
• Evaluating new products and initiatives from an operational risk perspective and supports risk assessments of new products, processes, vendors, etc.
• Collaborating with the business areas to develop or enhance, as appropriate, Risk Appetite Statements (RAS) and RAS metrics. Aggregate and report on RAS and monitor remediation actions for tolerance breaches.
• Developing and implementing methodologies to identify, assess, and report on risks to ensure assessment areas can be compared across the Company.
• Facilitating, or designing facilitation tools and techniques for, the performance of risk assessments throughout the Company.
• Ensuring that risk assessments are performed for all specialty areas of the Company including, but not limited to, regulatory compliance, physical and logical security, fraud, new products and services, Company projects, and others as may be required.
• Developing and maintaining a framework for the performance of Risk Control Self-Assessments (RCSAs).
• Working with Risk Liaisons and FLOD to identify controls and perform Risk Control Self-Assessments (RCSAs).
• Evaluating the operational risk profile and risk analysis for the business, culminating in Operational Risk Management reporting.
• Collaborating with the FLOD areas to develop appropriate operational Key Risk Indicators (KRI). Aggregate and report on the KRI results, identifying themes and trends. Monitor remediation actions for tolerance breaches.
• Providing credible challenge to the FLOD’s risk-taking and risk assessments.
• Developing, or directing the development of, a program to identify, classify, determine the root cause of, and report on events that result in operational losses or near-misses.
• Providing oversight to ensure timely escalation and adequate root-cause analysis for issues, operational loss events. Provide independent review and challenge of loss data elements within GRC.
• Maintains and supports development of Company documents, tools, and methodologies related to operational risk management.
• Captures near misses and actual loss events, inclusive of management risk response, insurance retention, recovery, and net loss.

Minimum Qualifications:

• Bachelor’s degree in Business Administration, Finance, Accounting, or a related field.
• Must have 14 years of diversified financial services experience, with a concentration in risk management, audit or accounting, compliance, or similar discipline.
• Minimum of 5 years of demonstrated management experience, including direct supervision of Associates including cross-disciplinary teams preferred.
• Must understand bank operations, including trust and asset management, regulatory compliance, finance and treasury, and a general knowledge of credit.
• Must have prior experience as an ORM Director, direct report to an ORM Director, or other Risk Management discipline (I.e. ERM, Compliance, or Audit).
• Must have extensive knowledge of Risk Management frameworks and principles.
• Must have relevant knowledge of the financial service’s regulatory environment.
• Must have experience with function/process design, implementation, and change management.
• Must have working knowledge of internal control principles and practices.
• Must have detailed knowledge of risk assessment methodologies, program development, operational loss categories and methodologies, and system design and development processes.
• Must have experience leading complex projects of long duration requiring dedicated, focused efforts.
• Close working relationship with Business Risk Liaisons.
• Demonstrated experience developing risk assessment methodologies and risk scoring models for financial institutions.
• Ability to operate in a fast-paced, unpredictable environment, with tight deadlines.
• Ability to manage multiple work streams and deliverables and coordinate across functional initiatives.
• Proficiency with the Microsoft Office suite of products and other banking software as applicable.
• Knowledge of corporate governance principles, including policy construct, in large banking institutions.
• Strong interpersonal, communication, and analytical skills.
• Strong creativity, critical thinking, initiative, and problem-solving skills.

Inclusiveness

WSFS Bank is inclusive and supportive of individual needs. If you have a physical or other impairment that might require an accommodation, including technical assistance with the WSFS Bank Careers website or submission process, please contact us via email at careers@ wsfsbank.com.

WSFS is an equal opportunity employer. We do not discriminate based upon race, religion, color, national origin, gender (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, age, status as a protected veteran, status as an individual with a disability, or other applicable legally protected characteristics.

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