Operational Risk Manager (AVP)
Job Description
This role will reside within the Firm’s Enterprise Risk Management Department. As an Assistant Vice President (AVP) in the second line of defense, you will support independent oversight and effective challenge across the Enterprise’s operational and model risk profiles. The role partners closely with the 1st Line of Defense to support risk identification, control design, and remediation execution, while helping to promote alignment to the Bank’s risk appetite, policies, and regulatory expectations. Key responsibilities include:
Essential Job Functions:
1. Operational Risk Management (2nd Line Oversight):
a. Support the ongoing enhancement and governance of the operational risk framework, including policies, standards, procedures, and methodologies to identify, assess, monitor, and manage operational risk exposures.
b. Facilitate and support effective challenge to risk and control self-assessments (RCSAs) conducted by the 1st LoD and other stakeholders, helping to ensure assessments are timely, risk-based, consistently executed, and appropriately documented.
c. Support risk awareness through training, guidance, and coaching for 1st LoD stakeholders across Functions, promoting adherence to policy requirements and consistent application of risk standards and best practices.
d. Partner with business and control functions to support the development, execution, and sustainability of risk mitigation plans and control enhancements; monitor progress and raise concerns when remediation is not effective or timely.
e. Assist with analyzing operational risk trends, events, and emerging issues; contribute to management reporting and recommendations to help strengthen the control environment.
f. Support monitoring of applicable regulatory requirements and industry standards related to operational risk management, and assist with regulatory exams and information requests.
g. Contribute to activities supporting the Bank’s operational risk appetite, tolerances, and limits; help assess business activities against those parameters and provide input on risk treatment options.
h. Support scenario analysis and related analytics used to evaluate tail risk (adverse and severely adverse), and help communicate key assumptions, limitations, and outcomes to stakeholders.
- Risk Governance and Reporting:
a. Support risk governance processes, including policy adherence, issue management, and committee routines; provide guidance to stakeholders on governance expectations and control standards.
b. Prepare and update risk reporting and governance materials for senior management and other stakeholders, translating risk information into clear themes, drivers, and proposed actions.
c. Coordinate with Internal Audit, Compliance, Legal, and other stakeholders to support examinations and audits, respond to findings, and help track risk issues through remediation and closure.
- Risk Measurement and Reporting:
a. Support the maintenance of key risk indicators (KRIs), metrics, and thresholds to monitor risk profile changes; help validate data quality and support alignment to risk appetite.
b. Assist with periodic risk reporting for senior management and other stakeholders, highlighting key risks, control gaps, remediation status, and thematic insights.
Knowledge, Skills and Experience Requirements:
Required
- Bachelor’s degree or equivalent experience.
- 5+ years of experience in Operational risk/Enterprise Risk Management in financial services industry.
- Excellent communication skills, both verbal and written, and an ability to present ideas concisely and persuasively communications skills.
- Demonstrated ability to think strategically and align risk management initiatives with organization’s goals and objectives.
- Ability to influence the thinking of, or gain acceptance from, others in sensitive situations, without damage to relationships.
- Demonstrate strong relationship building, business judgment, problem identification and problem resolution skills.
- Demonstrated experience in responding to regulatory requests.
- Knowledge of risk management frameworks, risk taxonomies and methodologies.
- Experience within a financial institution.
Desired
- Knowledge of GRC software solutions.
- Knowledge of Model Risk Management.
- Industry certifications in Risk Management.
Our job titles may span more than one career level. The starting base salary for this role is between $90,000 – $110,000. The actual base pay is dependent upon many factors, such as: training, transferrable skills, work experience, business needs and market demands. The base pay range is subject to change and may be modified in the future.
Amalgamated Bank is an Equal Opportunity and Affirmative Action Employer, Minorities / Females / Individuals with Disability / Veterans. AmeriCorps, Peace Corps and other national service alumni are encouraged to apply. View our Pay Transparency Statement. Submission of a resume or any information regarding your qualifications does not constitute a promise or offer of employment. At Amalgamated Bank, we consider an applicant to be someone who has interviewed at least once, in person, with the hiring manager. Amalgamated Bank does not sponsor applicants for work visas.
Effective February 18, 2025, employees in office-based positions will be working a Hybrid work schedule consisting of three days or more, on-site per week, Monday - Thursday, although the specific days may vary by site or organization, with Friday designated as a remote-working day, unless business critical tasks require an on-site presence. This Hybrid work model does not apply to, and daily in-person attendance is required for, the contact center, branch service roles, and general services where the work to be performed is located at a Company site; positions covered by a collective-bargaining agreement (unless the agreement provides for hybrid work); or any other position for which the Company has determined the job requirements cannot be reasonably met working remotely. Please note, this Hybrid work model guidance does not apply to roles that have been designated as “remote”.
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