Director of Operational Risk
Directs the identification and mitigation of internal process risks to ensure organizational stability and continuity.
Overview
The role involves a continuous cycle of assessment, monitoring, and reporting on the efficacy of internal controls and business processes. Daily work consists of analyzing incident data, conducting risk workshops with department heads, and designing mitigation strategies for potential operational failures. The rhythm is characterized by a balance of scheduled audits and reactive responses to emerging threats or process breakdowns.
Professionals in this field navigate complex organizational structures to identify hidden vulnerabilities in workflows and technology stacks. Success requires a meticulous approach to data and a deep understanding of how various business functions interconnect. Those who thrive are typically analytical thinkers who remain composed during crises and possess the diplomatic skills necessary to challenge established practices without causing friction.
Responsibilities
- Develop and implement comprehensive operational risk management frameworks across the organization.
- Lead the investigation of significant operational risk events to identify root causes and preventive measures.
- Report critical risk metrics and appetite breaches to the board of directors and executive committees.
- Review new product launches and business initiatives to identify potential operational vulnerabilities.
- Oversee the design and testing of business continuity and disaster recovery plans.
- Manage relationships with regulatory bodies and external auditors regarding operational compliance.
- Drive a culture of risk awareness by providing training and guidance to various business units.
Qualifications
- A minimum of ten years of experience in risk management, internal audit, or business operations.
- Comprehensive knowledge of operational risk frameworks such as Basel III or COSO.
- Strong proficiency in quantitative risk modeling and qualitative assessment methodologies.
- Exceptional written and verbal communication skills for presenting complex data to executive stakeholders.
- A bachelor's degree in finance, business administration, or a related analytical field.
- Proven experience leading cross-functional teams in a high-stakes corporate environment.
Nice to have
- Professional certification such as Professional Risk Manager (PRM) or Certified Professional in Operational Risk (CPOR).
- Master of Business Administration (MBA) or an advanced degree in Risk Management.
- Experience with specialized Enterprise Risk Management (ERM) software platforms.
- Previous experience managing large-scale digital transformation or cybersecurity risk initiatives.
Work environment
- Standard office environment with a mix of independent analysis and frequent stakeholder meetings.
- A collaborative culture that requires coordination between legal, compliance, and information technology teams.
- Typical executive hours with occasional surges during audit periods or significant operational incidents.
- Travel may be required to conduct site assessments or meet with regional management teams.
Benefits & growth
- Compensation often includes a significant annual performance bonus and long-term incentive plans.
- Career progression typically leads to Chief Risk Officer (CRO) or Chief Operating Officer (COO) positions.
- Regular access to executive leadership and participation in high-level strategic planning.
- Ongoing professional development through industry conferences and specialized leadership training programs.
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