Risk Management Specialist - Remote - Sacramento, CA

GENERAL DESCRIPTION:

The Risk Management Specialist is responsible for utilizing the Credit Union’s risk management framework to identify, assess, measure, monitor and help mitigate the financial, reputational, regulatory and operational risks (among others) associated with Golden 1’s products and services.

This individual will work to identify, assess, and create mitigation plans for various risks throughout the Credit Union by executing defined risk assessment programs (i.e., risk and control assessments, new product/initiative risk assessments, etc.). Working with internal business partners this role will need to understand business unit operational activities, identify existing operational process risks, understand process flows and be able to identify and propose key risk indicators and controls. Additionally, this role will partner with cross-functional areas to ensure that risk mitigation action plans are developed, implemented and maintained as well as monitor ongoing risks and mitigation. This role must be able to coordinate and prepare risk assessments as well as report on the ongoing risk narrative appropriate to the audience.

Assists ERM leadership to implement and educate on the policies, standards, guidelines, tools, models, and procedures required to support the Credit Union’s operational risk management program.

TASKS, DUTIES, FUNCTIONS:

1. Perform risk and control assessments, assess and implement related controls (e.g. operational, information security, compliance, etc.), and analyze information (e.g. risk events, root cause analysis, audit findings, KRIs/KPIs, etc.) to identify: risks, process and control improvement opportunities, and effective mitigation strategies.
2. Perform or participate in business or process risk assessments, in conjunction with the business unit owners, as needed. Support business unit risk identification, assessment and reporting.
3. Perform new product/service risk assessments to ensure risks associated with new activities are effectively measured, monitored, and controlled.
4. Review and provide effective challenge to first line risk assessments, including completeness of risk identification, end-to-end processes, inherent risk ratings, residual risk rating, and control design ratings.
5. Review and analyze other internal and external reports as inputs to assigned risk assessments.
6. Work with internal business partners to identify and/or define area specific quantitative and qualitative key risk and performance indicators.
7. Ensure identified issues and concerns are reported and escalated, as appropriate. Provide concise written updates to management on progress, problem situations and recommended solutions. Review business unit actions to resolve identified issues for closure.
8. Assist in the reporting of event-driven operational loss data and in performing root cause analysis in order to recommend process and control improvements to prevent risk events and losses from occurring in the future.
9. Provide risk advisory services to business stakeholders on policies and internal controls to manage risk exposures in day-to-day operations. Independently facilitate or lead stakeholder meetings and management briefings on relevant issues, risks or trends, associated with enterprise-level risks.
10. Tactfully yet assertively challenge assumptions and perspectives on risk throughout the organization. Recommend improvements to policies, procedures and practices to reduce costs, improve internal controls and/or drive efficiencies.
11. Coordinate with risk management leadership to maintain risk assessments, operational loss events, issues and other relevant risk information for management reporting and record keeping.
12. Develop and prepare management reports and communications according to established frequencies and ensure data accuracy.
13. Build productive partnerships and trust with other key ERM stakeholders, leadership and business functions across the enterprise.
14. Maintain an ever-growing knowledge of ERM and industry trends, best practices and techniques that can be practically applied at Golden 1.
15. As needed, contribute to special projects and initiatives that support the Risk Management Program and/or key focus areas of the organization.
16. Maintain a thorough understanding of state and federal laws and regulations related to credit union compliance including bank secrecy and anti-money laundering laws appropriate to the position.

PHYSICAL SKILLS, ABILITIES, AND EXERTION UTILIZED IN THE PERFORMANCE OF THESE TASK:

1. Professional oral and written communication skills required to interact with credit union staff, management, and all member channels.
2. Must possess sufficient manual dexterity to skillfully operate an online computer terminal and other standard office equipment, such as financial calculators, personal computer, facsimile machine and telephone.

ORGANIZATIONAL CONTACTS & RELATIONSHIPS:

1. INTERNAL:  All levels of staff and management.
2. EXTERNAL:  Industry associates and others as needed.

QUALIFICATIONS:

1. EDUCATION: Bachelor’s degree, preferably in business, finance, accounting, risk management, or related discipline or equivalent work experience.
2. EXPERIENCE: Minimum of 3 years of relevant experience in enterprise and/or operational risk management, audit or compliance in a financial institution preferred.
3. KNOWLEDGE / SKILLS:

• Experience working with risk management/operational risk management programs, practices and processes inclusive of risk identification, analysis, mitigation/control, communication, monitoring, reporting and escalation.
• Knowledge of Operational Risk Management concepts and practices (i.e., process mapping, risk identification, assessment of control environments, risk monitoring and measurements) and understanding of the relevant operational risk types/sub-types, is preferred.
• Strong analytical, problem-solving and workflow analysis skills, including ability to quickly interpret and synthesize information from various sources, identifying key points and issues.
• Ability to apply judgment around risk management and control frameworks and industry best practices and make sound risk/reward decisions using a balance of data, logic and intuition to inform critical business strategies and processes.
• Strong interpersonal and customer service skills; ability to quickly develop rapport to build cross-functional partnerships.
• Ability to influence and interface effectively with all levels of responsibility within the organization. Comfortable in presenting ideas and facilitating group meetings.
• Must have strong communication (verbal, written and presentation) skills with high articulation ability. Ability to present findings in a clear and concise manner to management level audiences.
• Strong organizational skills, with a high degree of initiative and ability to self-start and self-prioritize assignments and make timely and effective decisions.
• Strong process facilitation, process management and improvement skills; ability to independently and effectively handle multiple priorities and deliver a quality result within tight deadlines.
• Solid work ethics and able to work effectively both independently and in a team.
• Proficient in Microsoft Office (Word, Excel, Visio, Outlook, PowerPoint).

PHYSICAL REQUIREMENTS:

1. Prolonged sitting throughout the workday with occasional mobility required.
2. Corrected vision within the normal range.
3. Hearing within the normal range.  A device to enhance hearing will be provided if needed.
4. Ability to lift 15 pounds as may be required.
5. Occasional movements throughout the department daily to interact with staff, accomplish tasks, etc.
6. Unusually long or inconsistent hours may be required to accomplish tasks.
7. Travel may be needed to accomplish tasks.  Overnight travel is sometimes necessary.  Occasional weekend and evening schedules required.

LICENSES / CERTIFICATIONS:

Relevant risk management certifications or credentials beneficial.

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