Chief Operational Risk Officer #0092635

The Chief Operational Risk Officer will be responsible for developing and directing the Operational Risk Control Framework across the enterprise ensuring that operational controls, procedures and resources are in place to effectively manage operational risk for OneWest Bank.

The objective of the Operational Risk Framework is to minimize Operational losses and establish an appropriate Operational Risk Capital Allocation.

The Chief Operational Risk Officer will develop and implement enterprise Operational Risk Reporting to ensure transparency of Operational Risks to Executive Management and the Board of Directors.   

In the development and implementation of the Operational Risk Control Framework the Chief Operational Risk Officer will also support the Chief Risk Officer in refining strategies associated with Enterprise Risk governance and the overall Risk Management Framework. 

In addition, the Chief Operational Risk Officer will be responsible for, Risk and Business Policies and Procedures and the Enterprise Anti Fraud Program.

Specific Job Duties

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Operational Risk Control Framework:

Operational Risk Controls and Process Oversight – Ensure operational controls, procedures and resources are in place to effectively manage enterprise operational risk.

?        Work with each Business Unit to conduct Operational Risk Control reviews;

?        Based on reviews assess effectiveness of Operational Risk Controls;

?        Recommend enhancements / refinements to Operational Risk Controls;

?        Implement the Enterprise Operational Risk Control Framework across the enterprise;

?        Continuously monitor the effectiveness of Operational Risk Controls.

Operational Risk Policies and Procedures – Create and implement Operational Risk Policies and Policies across the enterprise.

• Evaluate current Operational Risk Policies;


• Create enhancements / changes to Operational Risk Policies;


• Implement new / enhanced Operational Risk Policies and Procedures.  

Operational Risk Reporting: – Create, implement and manage Enterprise Operational Risk Reporting providing transparency to Executive Management and the Board of Directors for all Operational Risk issues.

• Develop the definition of Operational Risk for OneWest Bank including Operational Risk Targets and Operational Risk Profile; 


• Create a risk rating / ranking system to communicate risk materiality and support prioritization of remediation efforts;


• Create reports that effectively provide communicate to Executive Management:
  
  
  
  • Performance to established risk targets,
  
  
  • Risk Ranking of identified Operational Risk Issues,
  
  
  • Status of remediation / corrective actions,
  
  
  • Impacts of Operational Risk issues to Operational Capital Allocation requirements.   
  
  
  
  

Operational Risk Capital Allocation: Based on performance to Operational Risk targets and the status of remediation of identified Operational Risks, recommend the appropriate Capital Allocation for Operational Losses.

Enterprise Anti Fraud Program – Ensure the Anti Fraud policies, procedures, practices, systems and tools used across the organization adequately protect the organization from losses due to fraud.  Continually enhance and update policies and procedures to address changing trends and emerging risks associated with fraud.   

• Evaluate – Existing policies, procedures and practices;


• Update / Enhance policies and procedures;


• Implement new / enhanced policies, procedures and practices;


• Continuous monitoring of practices and controls including Fraud Activity Reporting

Policies and Procedures – Oversee and monitor Risk and Business Policies and Procedures as well as Corporate Governance documentation, ensuring consistency and quality across the enterprise.  Oversee and ensure compliance with established Risk Governance practices, policies and procedures.

* 10+ years of progressive experience in Operational Risk Management in the financial services industry

* 5+ years in mortgage lending with emphasis on servicing

* 5+ years at the management level

* Demonstrated knowledge of process and business operations 

The Chief Operational Risk Officer will be responsible for developing and directing the Operational Risk Control Framework across the enterprise ensuring that operational controls, procedures and resources are in place to effectively manage operational risk for OneWest Bank.

The objective of the Operational Risk Framework is to minimize Operational losses and establish an appropriate Operational Risk Capital Allocation.

The Chief Operational Risk Officer will develop and implement enterprise Operational Risk Reporting to ensure transparency of Operational Risks to Executive Management and the Board of Directors.   

In the development and implementation of the Operational Risk Control Framework the Chief Operational Risk Officer will also support the Chief Risk Officer in refining strategies associated with Enterprise Risk governance and the overall Risk Management Framework. 

In addition, the Chief Operational Risk Officer will be responsible for, Risk and Business Policies and Procedures and the Enterprise Anti Fraud Program.

Specific Job Duties

------------------------------------------------------------------------------------------------------------------------

Operational Risk Control Framework:

Operational Risk Controls and Process Oversight – Ensure operational controls, procedures and resources are in place to effectively manage enterprise operational risk.

?        Work with each Business Unit to conduct Operational Risk Control reviews;

?        Based on reviews assess effectiveness of Operational Risk Controls;

?        Recommend enhancements / refinements to Operational Risk Controls;

?        Implement the Enterprise Operational Risk Control Framework across the enterprise;

?        Continuously monitor the effectiveness of Operational Risk Controls.

Operational Risk Policies and Procedures – Create and implement Operational Risk Policies and Policies across the enterprise.

• Evaluate current Operational Risk Policies;


• Create enhancements / changes to Operational Risk Policies;


• Implement new / enhanced Operational Risk Policies and Procedures.  

Operational Risk Reporting: – Create, implement and manage Enterprise Operational Risk Reporting providing transparency to Executive Management and the Board of Directors for all Operational Risk issues.

• Develop the definition of Operational Risk for OneWest Bank including Operational Risk Targets and Operational Risk Profile; 


• Create a risk rating / ranking system to communicate risk materiality and support prioritization of remediation efforts;


• Create reports that effectively provide communicate to Executive Management:
  
  
  
  • Performance to established risk targets,
  
  
  • Risk Ranking of identified Operational Risk Issues,
  
  
  • Status of remediation / corrective actions,
  
  
  • Impacts of Operational Risk issues to Operational Capital Allocation requirements.   
  
  
  
  

Operational Risk Capital Allocation: Based on performance to Operational Risk targets and the status of remediation of identified Operational Risks, recommend the appropriate Capital Allocation for Operational Losses.

Enterprise Anti Fraud Program – Ensure the Anti Fraud policies, procedures, practices, systems and tools used across the organization adequately protect the organization from losses due to fraud.  Continually enhance and update policies and procedures to address changing trends and emerging risks associated with fraud.   

• Evaluate – Existing policies, procedures and practices;


• Update / Enhance policies and procedures;


• Implement new / enhanced policies, procedures and practices;


• Continuous monitoring of practices and controls including Fraud Activity Reporting

Policies and Procedures – Oversee and monitor Risk and Business Policies and Procedures as well as Corporate Governance documentation, ensuring consistency and quality across the enterprise.  Oversee and ensure compliance with established Risk Governance practices, policies and procedures.

Required skills:

* 10+ years of progressive experience in Operational Risk Management in the financial services industry

* 5+ years in mortgage lending with emphasis on servicing

* 5+ years at the management level

* Demonstrated knowledge of process and business operations