What are the responsibilities and job description for the Operational Risk Manager position at Amalgamated Bank of NY?
Purpose of Position
This role resides within the Firm’s Enterprise Risk Management Department. As a Vice President of Operational Risk Management (FVP) in the second line of defense, the role is responsible for designing, implementing, and overseeing the operational risk framework to identify, assess, monitor, and control operational risks across the enterprise.
Essential Job Functions
Operational Risk Management
• Develops and maintains the operational risk framework, policies, procedures, and methodologies.
• Facilitates and oversees Risk and Control Self-Assessments (RCSAs) in partnership with the first line of defense.
• Reviews and challenges business processes, systems, and controls to identify material operational risks.
• Oversees development and implementation of operational risk mitigation strategies and control enhancements.
• Establishes and maintains operational risk appetite, limits, and thresholds, ensuring risk-taking remains within tolerance.
• Develops operational risk scenarios and analytics to assess tail risk under adverse and severely adverse conditions.
Risk Governance, Measurement, and Reporting
• Develops operational risk metrics and key risk indicators (KRIs) to monitor trends and emerging risks.
• Prepares operational risk reporting to senior management, board committees, and regulators.
• Provides oversight of operational risk governance processes and forums.
• Coordinates with Internal Audit, Compliance, and other control functions to address operational risk issues and findings.
Knowledge, Skills and Experience Requirements
• Bachelor’s degree or equivalent experience.
• 5 years of experience in Operational Risk Management or Enterprise Risk Management within financial services.
• Strong knowledge of operational risk frameworks, risk taxonomies, and methodologies.
• Demonstrated experience responding to regulatory exams and supervisory requests.
• Excellent communication and relationship management skills.
Desired
• Experience with GRC platforms and risk management systems.
• Professional risk management certifications.
Our job titles may span more than one career level. The starting base salary for this role is between $120,000 – $140,000. The actual base pay is dependent upon many factors, such as: training, transferrable skills, work experience, business needs and market demands. The base pay range is subject to change and may be modified in the future.
Amalgamated Bank is an Equal Opportunity and Affirmative Action Employer, Minorities / Females / Individuals with Disability / Veterans. AmeriCorps, Peace Corps and other national service alumni are encouraged to apply. View our Pay Transparency Statement. Submission of a resume or any information regarding your qualifications does not constitute a promise or offer of employment. At Amalgamated Bank, we consider an applicant to be someone who has interviewed at least once, in person, with the hiring manager. Amalgamated Bank does not sponsor applicants for work visas.
Effective February 18, 2025, employees in office-based positions will be working a Hybrid work schedule consisting of three days or more, on-site per week, Monday - Thursday, although the specific days may vary by site or organization, with Friday designated as a remote-working day, unless business critical tasks require an on-site presence. This Hybrid work model does not apply to, and daily in-person attendance is required for, the contact center, branch service roles, and general services where the work to be performed is located at a Company site; positions covered by a collective-bargaining agreement (unless the agreement provides for hybrid work); or any other position for which the Company has determined the job requirements cannot be reasonably met working remotely. Please note, this Hybrid work model guidance does not apply to roles that have been designated as “remote”.
Amalgamated Bank does not accept unsolicited assistance from search firms for employment opportunities. All CVs / resumes submitted by search firms to any employee at our company without a valid written search agreement in place for the position will be deemed the sole property of our company. No fee will be paid in the event a candidate is hired by our company as a result of an agency referral where no pre-existing agreement is in place. Where agency agreements are in place, introductions are position specific. Please, no phone calls or emails.
Salary : $120,000 - $140,000