Sr. Director of Risk Management

$165,000 - $180,000/Yr

Amalgamated Bank - New York, NY

Full-time - Senior

New York, NY

Credit Intermediation and Related Activities

About the position

Amalgamated Bank is seeking a Sr. Director of Risk Management to play a pivotal role in the second line of defense, focusing on overseeing and managing both operational risk and enterprise risks. This position is crucial for ensuring the organization's resilience against disruptions and maintaining critical operations. The ideal candidate will be someone who is passionate about making a difference, has a strong analytical background, and is capable of solving complex business problems. The role involves developing and maintaining the operational risk framework, policies, procedures, and methodologies to effectively identify, assess, monitor, and control operational risks. In this capacity, the Sr. Director will facilitate risk assessments in collaboration with the first line of defense and other stakeholders, ensuring that potential risks are identified and assessed across the organization. This includes analyzing processes, systems, and controls to pinpoint vulnerabilities and ensuring that risk assessments are conducted thoroughly. The role also requires collaboration with various business units to develop and implement risk mitigation strategies and control measures, as well as monitoring and reporting on operational risk trends and issues to senior management and relevant stakeholders. Compliance with regulatory requirements and industry best practices is a key aspect of this position, as is establishing the Bank's risk appetite and limits for operational risk. Additionally, the Sr. Director will provide oversight and guidance on risk governance processes and controls, develop risk reporting mechanisms to communicate operational and third-party risk profiles to senior management, board committees, and regulators, and collaborate with internal audit and other stakeholders to address risk-related issues. The role also involves developing key risk indicators (KRIs) and other metrics to measure and monitor operational and enterprise risks, preparing regular risk reports that provide insights into the organization's risk profile and the effectiveness of risk management practices.

Responsibilities

• Develop and maintain the operational risk framework, policies, procedures, and methodologies to identify, assess, monitor, and control operational risks.
• Facilitate risk assessments with the first line of defense and other stakeholders to identify and assess operational risks across the organization.
• Collaborate with various business units to oversee the development and implementation of risk mitigation strategies and control measures.
• Monitor and report on operational risk trends, issues, and mitigation efforts to senior management and relevant stakeholders.
• Ensure compliance with regulatory requirements and industry best practices related to operational risk management.
• Establish the Bank's risk appetite and risk limits for operational risk, ensuring risk-taking activities are within defined limits.
• Provide oversight and guidance on risk governance processes and controls within the organization.
• Develop and implement risk reporting mechanisms to communicate operational and third-party risk profiles to senior management, board committees, and regulators.
• Collaborate with internal audit and other stakeholders to address risk-related issues and findings.
• Develop key risk indicators (KRIs) and other metrics to measure and monitor operational and enterprise risks.
• Prepare regular risk reports for senior management, board committees, and regulators, providing insights into the organization's risk profile.

Requirements

• Bachelor's degree or equivalent experience.
• 8+ years of experience in Operational risk/Enterprise Risk Management.
• Excellent communication skills, both verbal and written, with the ability to present ideas concisely and persuasively.
• Demonstrated ability to think strategically and align risk management initiatives with the organization's goals and objectives.
• Ability to influence the thinking of others in sensitive situations without damaging relationships.
• Strong relationship building, business judgment, problem identification, and problem resolution skills.
• Demonstrated experience in responding to regulatory requests.
• Knowledge of risk management frameworks, risk taxonomies, and methodologies.
• Experience within a financial institution.

Nice-to-haves

• Knowledge of GRC software solutions.
• Knowledge of Model Risk Management.
• Industry certifications in Risk Management.

Benefits

• Competitive salary range of $165,000.00 - $180,000.00 based on experience and qualifications.
• Equal Opportunity and Affirmative Action Employer policies.
• Encouragement for AmeriCorps, Peace Corps, and other national service alumni to apply.