VP, Operational Risk Management

Office Status: HybridSalary: $125,000 – $160,000This role supports the continuous implementation and enhancement of the Operational Risk Management (ORM) and Enterprise Risk Management (ERM) frameworks. The position requires collaboration with key stakeholders at all levels to drive a strong risk culture. The role provides robust, credible challenge to risk assessments, incident documentation, control testing, and governance processes. Additionally, the position involves quality assurance activities to ensure adherence to ORM methodologies and best practices.Key Responsibilities:Operational Risk Management (ORM) Coverage for Legal and CCOSupport the implementation and refinement of ORM and ERM frameworks by identifying enhancement opportunities and coordinating with stakeholders.Provide credible challenge to:-Business Risk & Control Self-Assessments (RCSA), including risk identification and control effectiveness testing.-Identification and documentation of risk events, including root cause analysis and corrective actions.-Supporting rationales and documentation for incident and issue closure.-Definition and monitoring of Key Risk Indicators (KRIs).Participate in governance forums, including the Operational Risk Council and Senior Management Committees.Develop tools and communicate ORM requirements to stakeholders to ensure adherence to risk policies, procedures, and best practices.Partner with subject matter experts in Third-Party Risk, Project Risk, and Technology & Information Security Risk Management (TISRM) to strengthen ORM governance.Escalate operational risks that exceed risk appetite.Identify opportunities for process improvements to enhance operational efficiency.Provide ORM expertise in business project workstreams, including process mapping.Support business units in establishing and improving risk management capabilities.Develop and conduct risk management training and education.Act as a primary ORM point of contact, providing guidance, education, and leadership on risk management practices.ORM Quality Assurance (QA)Support risk-based sample reviews, reporting, and ongoing enhancements within the ORM QA program.Assess adherence to ORM frameworks, methodologies, and guidance by the first line of defense (1LOD).Verify robust, documented challenge by the second line of defense (2LOD).Ensure appropriate risk identification and assessment.Evaluate the effectiveness of control design and operational testing.Review issue identification, remediation plans, and successful issue resolution.