The primary function of the VP, Operational Risk Management, Senior Risk Manager II is to support the bank’s Operational Risk Management infrastructure. The incumbent will report directly to the SVP, Director of Operational Risk Management.  The successful candidate will oversee overseeing the operational risk management function, ensuring that operational risks are effectively identified, assessed, and mitigated within the Bank. This crucial role entails creating and implementing strong risk management frameworks, policies, and procedures to ensure the bank’s operational resilience and compliance with relevant regulations and guidance.

Primary Responsibilities:

• Develop and implement the bank’s operational risk management framework, including policies, procedures, and guidelines, in alignment with regulatory requirements and best practices.
• Collaborate with various departments to identify, assess, and prioritize operational risks across the bank’s operations and processes.
• Conduct comprehensive risk assessments to quantify potential impacts and likelihood of operational risks, providing insights to senior management and relevant stakeholders.
• Team up directly with senior leadership, department management, and internal / external subject matter experts to develop risk mitigation strategies and action plans to reduce the impact of identified risks and ensure a robust control environment.
• Oversee and administer the following programs: New Initiatives, Vendor Onboarding and Ongoing Risk Monitoring, Risk Control Self-Assessment, Business Continuity Management, Second line testing, ORM and GLBA policies, and Special Risk Projects as needed.
• Co-lead operational and compliance centric subcommittees, ensuring that emerging risks and significant deviations in practice or policy are appropriately escalated, measured, and mitigated.
• Assist Business Line Managers in the development, design, and implementation of risk management practices, processes, and control enhancements in areas identified by internal and external auditors as needing improvement.
• Lead and/or participate in risk incident investigations, identifying root causes and putting corrective measures in place to prevent recurrence. Apply project management disciplines to management’s corrective action plans, as well as provide ongoing status reporting on the design, implementation, and effectiveness of those plans in mitigating noted risk management, compliance, or internal control issues.
• Monitor key risk indicators (KRIs) and metrics, analyzing trends and reporting to senior management and risk committees on a timely basis.
• Promote risk awareness and accountability at all levels of the organization to foster a risk-aware culture.
• Keep abreast of regulatory developments and industry trends pertaining to operational risk, ensuring that the bank’s policies and practices remain compliant.
• Partner with internal auditors and external examiners to assist with risk-related audits and examinations.
• Provide guidance and mentorship to team members, fostering professional growth and development.

Requirements:

Education and Experience

• At least 5 years of direct risk management experience and exposure to audit and internal control frameworks.
• In-depth knowledge of operational risk management principles, methodologies, and best practices required.
• Bachelor’s Degree or equivalent experience. Certified Enterprise Risk Professional (CERP) or other relevant risk certification preferred.

Skills/Knowledge

• Excellent communication and presentation skills, capable of conveying complex concepts to diverse audiences.
• Demonstrated leadership abilities, with a record of effectively leading teams and driving initiatives.
• Thorough understanding of risk/compliance/audit competencies and understanding of key bank operations and associated risks/controls.
• Performance at this level requires a great degree of independence with minimal supervision, confidently making decisions and escalating significant issues to the Department Director.
• Demonstrates strong analytical and critical thinking skills, with the ability to assess complex situations and provide strategic risk insights.
• Proficient in Microsoft Office applications and knowledge of GRC systems (e.g., Archer).

Perks:

• Remote work flexibility
• Growth opportunities
• Great benefits
• Strong culture
• Work life balance

Committed. Inclusive. Courageous. Eastern Bank has built a legacy of investing in the communities we serve and helping our customers, communities and employees thrive and grow. We pride ourselves in having knowledgeable and experienced professionals that can provide the expertise, personal attention and service our customers deserve.

As an inclusive company, we work to ensure that our valued employees are treated fairly, recognized for their individuality, and encouraged to reach their fullest potential. These values have earned us a reputation as a great place to work and provide a strong reason why you should consider a career with us.