Operational Risk Analyst

We are seeking a detail-oriented and proactive Operational Risk Analyst to join our Risk Management team at a leading Life and Annuity Third-Party Administrator (TPA). The ideal candidate will have hands-on experience executing the Risk and Control Self-Assessment (RCSA) process, testing controls, and collaborating with business units to enhance operational resilience. This role plays a critical part in maintaining our risk framework and driving a strong control environment across the organization.

Key Responsibilities:

• Execute the Risk and Control Self-Assessment (RCSA) process, including planning, facilitation, and documentation of risk assessments across key operational functions.
• Perform control testing to evaluate the design and operating effectiveness of internal controls, identifying control gaps or weaknesses.
• Partner with business units to strengthen controls, ensure risk mitigation strategies are implemented, and promote risk-aware decision-making.
• Assist in maintaining the Operational Risk Framework, ensuring alignment with industry best practices and regulatory expectations.
• Monitor and analyze operational risk events, identifying trends and recommending process improvements.
• Support issue management processes, including tracking, validation, and closure of remediation actions.
• Prepare risk reporting and dashboards for management and governance committees.
• Contribute to continuous improvement initiatives to enhance risk assessment methodologies, documentation quality, and stakeholder engagement.

Qualifications:

• Bachelor's degree in Finance, Risk Management, Business Administration, or related field.
• 3+ years of relevant experience in operational risk, internal audit, compliance, or controls testing, preferably in the life insurance or annuity industry.
• Strong understanding of the RCSA process, internal controls, and risk assessment principles.
• Experience working in or with a TPA or similar service provider environment preferred.
• Excellent analytical, communication, and interpersonal skills.
• Proficiency in Microsoft Office Suite; experience with GRC tools (e.g., Archer, MetricStream) is a plus.

Preferred Attributes:

• Collaborative mindset with the ability to work cross-functionally and influence without authority.
• Self-starter with the ability to manage multiple priorities and meet deadlines.
• Strong attention to detail and critical thinking skills.
• Familiarity with NAIC regulations, SOC1 controls, and life/annuity product knowledge is advantageous.

EXL (NASDAQ: EXLS) is a leading data analytics and digital operations and solutions company. We partner with clients using a data and AI-led approach to reinvent business models, drive better business outcomes and unlock growth with speed. EXL harnesses the power of data, analytics, AI, and deep industry knowledge to transform operations for the world’s leading corporations in industries including insurance, healthcare, banking and financial services, media and retail, among others. EXL was founded in 1999 with the core values of innovation, collaboration, excellence, integrity and respect. We are headquartered in New York and have more than 54,000 employees spanning six continents. For more information, visit www.exlservice.com. EXL never requires or asks for fees/payments or credit card or bank details during any phase of the recruitment or hiring process and has not authorized any agencies or partners to collect any fee or payment from prospective candidates. EXL will only extend a job offer after a candidate has gone through a formal interview process with members of EXL’s Human Resources team, as well as our hiring managers.