Sr Analyst, Operational Risk

Valley National Bank
$93,200.00-$160,900.00
United States, New Jersey, Morristown
70 Speedwell Avenue (Show on map)
Feb 14, 2025
Reporting to the Head of Operational Risk, the Sr Operational Risk Analyst is responsible for developing, implementing, and maintaining the Operational Risk Framework to effectively manage the operational risk profile of the bank. The function will ensure that internal governance, monitoring and reporting of all key risks are completed in a timely and accurate manner. Additionally, the role will be responsible for the risk assessments for specific business lines and support teams. The function will also be responsible for monitoring all associated issues, actions and events and provide reporting to upper management and Board reporting. The role will also be involved in ad hoc projects through the bank with the goal of mitigating control and process failures. 40 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 on 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 multi-task and respond to and manage 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 work independently, meet deadlines and expectations with little or no supervision. Required Experience: Bachelor's Degree majoring in Finance, Accounting or Business-related discipline and a minimum of 5 years' experience in activities relating to banking and the financial services industry. Experience using a Risk System (GRC) such as Logic Manager, Metric Stream, RSA Archer, etc. is preferred. Exact compensation may vary based on skills, experience, and location. $93,200.00 $160,900.00