Operational Risk Manager (AVP)
Amalgamated Bank, Washington, District of Columbia, United States
Purpose of Position
This role resides within the Firm’s Enterprise Risk Management Department. As a Vice President of Operational Risk Management (FVP) in the second line of defense, the role is responsible for designing, implementing, and overseeing the operational risk framework to identify, assess, monitor, and control operational risks across the enterprise.
Essential Job Functions
Operational Risk Management
Develops and maintains the operational risk framework, policies, procedures, and methodologies.
Facilitates and oversees Risk and Control Self-Assessments (RCSAs) in partnership with the first line of defense.
Reviews and challenges business processes, systems, and controls to identify material operational risks.
Oversees development and implementation of operational risk mitigation strategies and control enhancements.
Establishes and maintains operational risk appetite, limits, and thresholds, ensuring risk-taking remains within tolerance.
Develops operational risk scenarios and analytics to assess tail risk under adverse and severely adverse conditions.
Risk Governance, Measurement, and Reporting
Develops operational risk metrics and key risk indicators (KRIs) to monitor trends and emerging risks.
Prepares operational risk reporting to senior management, board committees, and regulators.
Provides oversight of operational risk governance processes and forums.
Coordinates with Internal Audit, Compliance, and other control functions to address operational risk issues and findings.
Knowledge, Skills And Experience Requirements
Bachelor’s degree or equivalent experience.
5+ years of experience in Operational Risk Management or Enterprise Risk Management within financial services.
Strong knowledge of operational risk frameworks, risk taxonomies, and methodologies.
Demonstrated experience responding to regulatory exams and supervisory requests.
Excellent communication and relationship management skills.
Desired
Experience with GRC platforms and risk management systems.
Professional risk management certifications.
Salary
Our job titles may span more than one career level. The starting base salary for this role is between $120,000 – $140,000. 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.
Equal Opportunity
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.
Hybrid Work Model
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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This role resides within the Firm’s Enterprise Risk Management Department. As a Vice President of Operational Risk Management (FVP) in the second line of defense, the role is responsible for designing, implementing, and overseeing the operational risk framework to identify, assess, monitor, and control operational risks across the enterprise.
Essential Job Functions
Operational Risk Management
Develops and maintains the operational risk framework, policies, procedures, and methodologies.
Facilitates and oversees Risk and Control Self-Assessments (RCSAs) in partnership with the first line of defense.
Reviews and challenges business processes, systems, and controls to identify material operational risks.
Oversees development and implementation of operational risk mitigation strategies and control enhancements.
Establishes and maintains operational risk appetite, limits, and thresholds, ensuring risk-taking remains within tolerance.
Develops operational risk scenarios and analytics to assess tail risk under adverse and severely adverse conditions.
Risk Governance, Measurement, and Reporting
Develops operational risk metrics and key risk indicators (KRIs) to monitor trends and emerging risks.
Prepares operational risk reporting to senior management, board committees, and regulators.
Provides oversight of operational risk governance processes and forums.
Coordinates with Internal Audit, Compliance, and other control functions to address operational risk issues and findings.
Knowledge, Skills And Experience Requirements
Bachelor’s degree or equivalent experience.
5+ years of experience in Operational Risk Management or Enterprise Risk Management within financial services.
Strong knowledge of operational risk frameworks, risk taxonomies, and methodologies.
Demonstrated experience responding to regulatory exams and supervisory requests.
Excellent communication and relationship management skills.
Desired
Experience with GRC platforms and risk management systems.
Professional risk management certifications.
Salary
Our job titles may span more than one career level. The starting base salary for this role is between $120,000 – $140,000. 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.
Equal Opportunity
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.
Hybrid Work Model
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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