Operational Loss Risk Manager

The Operational Risk Management (ORM) Team is seeking a Operational Risk Manager who will be responsible for strengthening, overseeing, and managing of the bank's Operational Event Loss Data Management Program including the Ops Risk Capital Allocation Planning and Scenario Analysis Program. The role involves identifying, assessing, monitoring, and mitigating risks arising from internal processes, people, systems, and external events. This role will assist with the implementation of program policies, Risk Appetite and Key Risk Indicator Metrics, standards, and procedures related to operational losses. Work closely with Front Line Units to drive implementation and ongoing improvement of Operational Risk Management Loss Framework.  The incumbent will ensure compliance with regulatory requirements and best practices to safeguard the bank from financial losses.

To thrive as a colleague at Citizens, candidates must demonstrate a strong customer-centric mindset, exhibit persistence and resilience in the face of challenges, and embrace continuous learning to adapt and grow in a dynamic environment.

Primary Responsibilities Include:

• Responsible for execution and managing of the bank's Operational Event Loss Data Management Program including Ops Risk Capital Allocation Planning and Scenario Analysis Program. This includes driving industry best practices, ongoing program enhancements, automation, and efficiencies. 
• Assist with managing the risk program and the implementation of changes by providing updates through partnership with Front Line Units through working groups and trainings, as necessary.
• Assist business units with the identification and analysis of operational risk events that may have resulted in an operational loss.
• Analyze operational loss reporting to identify themes, trends, and/or patterns. 
• Partner with First Line Control Officers to develop action plans to resolve the control gaps.
• Make and implement required changes and enhancements to Operational Risk Framework Methodology, Minimum Requirements, departmental procedures, and related guidance and training around Operational Losses, Scenario Analysis, and to ensure alignment with Heightened Standards, industry best practices, while driving a Strong Independent Risk Management rating.
• Assist with Enterprise Risk Appetite Metric and Executive Risk Reporting in GRC, providing commentary around limit breaches. Manage the documentation of key risk metrics and conduct research an analysis on metrics that exceeded threshold/limits to provide meaningful analysis and conclusions to executive leadership through reporting. Explore opportunities for ongoing enhancements and automation of Key Risk Indicators and reporting.
• Produce commentary and analysis of Operational Risk Frameworks, assessing the Front-Line Units performance and adherence to methodology levering Key Risk Indicators and risk analytics for inclusion in Monthly Risk Committee Reporting and Quarterly Enterprise Risk Opinion for Operational Losses.
• Partner with the Governance Risk and Compliance (GRC tool) team to update and maintain Risk Framework Methodology, Procedures, and Modules with GRC to support ongoing processes enhancements and methodology updates related to the Operational Losses Framework. Support Front Line Unit requests related to GRC.
• Develops and maintain strong relationships with members of the Front and Second Line and other stakeholders to promote cross -functional risk management capabilities and compliance.
• Maintain knowledge of new or emerging risk management methodologies through professional networking and participating in industry forums.
• Manage, support and assist with both internal and external exams. Work closely with regulatory agencies and assist with regulatory exams. Ensure appropriate exam outcomes through exam management protocols. Understand banking regulations, supervisory expectations, and industry trends for large financial institutions, as it relates to operational risk management

Qualifications:

• 4-8 years of relevant experience within the Banking Industry, Risk Consulting, Financial Services, compliance, Front Line Risk, Internal Audit, and/or Regulatory Agency.
• Experience with Risk management Frameworks to including Operational Loss programs, Risk and Control Self-Assessment (RSCA), Issues Management, and Control Assessment.
• Operational Risk Management experience including Operational Event Loss Data Management and Capital Planning
• Knowledge of regulatory guidance pertaining to Enterprise and Operational Risk.
• Familiarity with Governance Risk and Control (GRC) tools - (Archer preferred).
• Knowledge of regulatory stress testing (CCAR, CECL, etc.) a plus. 

Skills:

• Technical proficiency in Microsoft Excel, Word Visio, and PowerPoint.
• Strong analytical capabilities to provide data-centric insights.
• Excellent communication and experience producing high-quality materials for management consumption

Education:

• Bachelor’s Degree: Accounting, Business, Risk Management, Finance, Economics or equivalent field or equivalent work experience. 
• License or Certification: preferred by not required

Hours & Work Schedule: 4 days in the office, 1 working from home

• Hours per Week: 40
• Work Schedule: Monday-Friday

Pay Transparency

The salary range for this position is $79,500-$110,000 per year, plus an opportunity to earn an annual discretionary bonus. Actual pay is based on various factors including but not limited to the work location, and relevant skills and experience.

We offer competitive pay, comprehensive medical, dental and vision coverage, retirement benefits, maternity/paternity leave, flexible work arrangements, education reimbursement, wellness programs and more. Note, Citizens’ paid time off policy exceeds the mandatory, paid sick or paid time-away policy of every local and state jurisdiction in the United States. For an overview of our benefits, visit https://jobs.citizensbank.com/benefits .

Citizens will not sponsor an applicant for a work visa, such as an H-1B, for this position.

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Equal Employment Opportunity

Citizens, its parent, subsidiaries, and related companies (Citizens) provide equal employment and advancement opportunities to all colleagues and applicants for employment without regard to age, ancestry, color, citizenship, physical or mental disability, perceived disability or history or record of a disability, ethnicity, gender, gender identity or expression, genetic information, genetic characteristic, marital or domestic partner status, victim of domestic violence, family status/parenthood, medical condition, military or veteran status, national origin, pregnancy/childbirth/lactation, colleague’s or a dependent’s reproductive health decision making, race, religion, sex, sexual orientation, or any other category protected by federal, state and/or local laws. At Citizens, we are committed to fostering an inclusive culture that enables all colleagues to bring their best selves to work every day and everyone is expected to be treated with respect and professionalism. Employment decisions are based solely on merit, qualifications, performance and capability.

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Any offer of employment is conditioned upon the candidate successfully passing a background check, which may include initial credit, motor vehicle record, public record, prior employment verification, and criminal background checks. Results of the background check are individually reviewed based upon legal requirements imposed by our regulators and with consideration of the nature and gravity of the background history and the job offered. Any offer of employment will include further information.