Position Summary

The Operational Risk Officer (ORO) is primarily responsible for ensuring appropriate controls and efficiencies are developed to support a strong operational risk culture at BankProv. This includes establishing and overseeing the application of operational risk policies, technology and tools, and governance processes to create lasting solutions for minimizing losses from failed internal processes, inadequate controls, and emerging risks. The ORO will also ensure a holistic approach is taken to manage operational risk that includes cross-department and intra-department collaboration and considerations.

Essential Duties and Responsibilities:

• Develop and enhance the Bank’s operational risk program.
• Manage bank-wide Risk Control Self-Assessment (RCSA) process, schedule, and risk assessment inventory.
• Perform risk assessment on new products and services.
• Review metrics for all operational risk areas for management and Board reporting.
• Actively participate in special projects and new initiative implementation plans including liaising with the Operations department, as needed.
• Manage Incident Management and Operational Risk Event reporting, and remediation including developing action plans if necessary. Perform Root Cause Analysis.
• Develop strategies to ensure timely and successful engagement of, and adherence to, regulatory requirements.
• Works with Information Security, IT, Third Party Risk, Operations, Compliance and Fraud to ensure holistic oversight of the operational risk environment at the Bank.
• Tracks and maintains risk acceptances and issue management.
• Escalates risk trends and themes that indicate emerging operational risks through evaluation of relevant metrics, loss data and external events.
• Manages Bank’s GRC tool.
• Oversight of model risk requirements.

Core Values Categories:

• Courage
  • Demonstrate confidence and reasoned judgement
• Innovation
  • Seek opportunities to continuously improve our process
• Collaboration
  • Work as a team to serve customers, both internal and external
• Empathy
  • Demonstrate humble and caring understanding of other

Essential Knowledge, Skills and Abilities:

• Thorough understanding fraud prevention, physical security, and vendor management rules, regulations, and regulatory expectations.
• Ability to oversee and develop prevention techniques and timely responsiveness to operational related incidents.
• Thorough understanding of operational risk.
• Ability to work on multiple initiatives simultaneously and meet service level turn-around deadlines.
• Ability to work independently and demonstrate sound problem-solving and decision-making skills.
• High level of responsiveness to internal and external customers
• Experience implementing and managing GRC tools

Education and Experience:

• High school diploma, required
• Bachelor’s degree, preferred
• Advanced education may be substituted by progressive banking experience
• 7+ years of progressive banking experience; direct Banking operational risk management experience

Physical Demands and Work Environment

The physical demands and work environment characteristics described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.

Physical Demands

While performing duties of this job, employee is occasionally required to stand; walk; sit; use hands, or feel objects, tools or controls; reach with hands and arms; speak clearly and hear efficiently. Employees much occasionally lift and/or move up to, or in excess of 10 pounds. Specific vision abilities required by the job include close vision, distance vision, color vision, peripheral vision, depth perception and the ability to adjust focus.

Work Environment

While performing the duties of this job, the employee is exposed to noise level in the work environment that may be excessive at times.

Travel

Ability to travel 5% or more of the time may be required. Availability to travel on short notice to meet immediate business needs may be required.