What are the responsibilities and job description for the Operational Risk Analyst position at Valley Bank?
At Valley Bank, we believe in people's growth potential. We invest in it. We protect it. We focus it. For nearly 100 years, we've been the Bank that clients from every industry turn to for our expertise, strategies, and advice--building the kind of trust that can fuel every goal. We are the leading relationship bank built for growth--with over $60 billion in assets, 3,800 experts, and more than 200 consumer branches and commercial banking offices in communities across the US.
At Valley, we're all driven by an ambition that goes deeper than just having a job. That's why when you work for us, we make it our goal to help you focus on what drives you--working to turn your passions and strengths into assets you can use to propel your ambitions and build the professional legacy you want. Because when we say we're a relationship bank built for growth, that's not just reserved for our clients--that includes all our associates as well.
The Operational Risk Analyst is responsible for identifying, assessing, monitoring, and reporting risks that arise from internal processes, systems, people, or external events that could impact business operations. This role supports the development and implementation of risk management frameworks and ensures compliance with regulatory requirements and internal policies. Additionally, the role will be responsible for risk assessments for specific business lines and support teams. The function will also be responsible for monitoring all associated issues, actions and events and providing reporting to upper management and Board reporting.
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Responsibilities Include But Are Not Limited To
Required Skills
At Valley, we're all driven by an ambition that goes deeper than just having a job. That's why when you work for us, we make it our goal to help you focus on what drives you--working to turn your passions and strengths into assets you can use to propel your ambitions and build the professional legacy you want. Because when we say we're a relationship bank built for growth, that's not just reserved for our clients--that includes all our associates as well.
The Operational Risk Analyst is responsible for identifying, assessing, monitoring, and reporting risks that arise from internal processes, systems, people, or external events that could impact business operations. This role supports the development and implementation of risk management frameworks and ensures compliance with regulatory requirements and internal policies. Additionally, the role will be responsible for risk assessments for specific business lines and support teams. The function will also be responsible for monitoring all associated issues, actions and events and providing reporting to upper management and Board reporting.
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Responsibilities Include But Are Not Limited To
- Perform the initial analysis of incidents and identify any impact. With guidance, conduct a mini front-to-back analysis of incidents to determine if an enhancement is needed to a function/process/control and ensure that operational risk incidents are properly posted to and processed through the Risk Incident Tracking Application (GRC).
- Risk Identification -- Contribute to the planning and performance of internal reviews of procedures and controls residing within various product and business areas to ensure that controls are adequately designed and are operating effectively in preparation for all audits, compliance exams, and regulatory inquiries.
- Risk Mitigation and testing - Proactively engage appropriate stakeholders and partners to lead the implementation of enhanced processes and controls build-outs as well as targeted second line testing for any identified control gaps or opportunities for enhancement.
- RCSA Coordination -- Coordinate with risk owners in the business to continue to enhance the risk and control self-assessment to ensure that risks and controls are documented around current supervisory processes and test the supervisory process to ensure coverage is adequate.
- Participate in significant risk related projects, initiatives and special risk assessments that impact the risk profile of the bank.
Required Skills
- Technical aptitude and motivation to learn all aspects of the Risk system (GRC). Candidate should have the motivation to drive system and process improvements in the organization.
- Excellent oral and written communication skills. Ability to use communication skills to effectively manage correspondence with all levels of bank staff, senior and executive management.
- Knowledge of the various functions of a commercial bank (including retail/commercial lending, wealth management, investments, operations, etc).
- Ability to effectively respond to shifting priorities and assignments.
- Proficient PC skills in Microsoft Office suite -- Power BI, Word, Excel, and PowerPoint as well as GRC software.
- Sound analytical and research skills.
- Ability to prepare executive and Board-level reports including memoranda and PowerPoint presentations.
- Well-organized and detail oriented.
- Ability to meet deadlines and expectations with little or no supervision.
- Bachelor's Degree majoring in Finance, Accounting or Business-related discipline and a minimum of two years' experience in activities relating to banking and the financial services industry.
- Minimum of two years' experience in activities relating to Risk Management.
- Experience using a Risk System (GRC) such as Logic Manager, Metric Stream, RSA Archer, etc.