Job Information
Eastern Bank Risk Manager I in Lynn, Massachusetts
The primary function of the VP Risk Manager I is to provide the primary support for the bank’s Operational Risk Management infrastructure. This individual acts as an agent of change as the corporation transitions to an enterprise perspective of risk management. Primary responsibilities include oversight of the Business Process Risk and Control Self- Assessment program, development of an enterprise control framework, and Operational Impact program. As the program progresses, they will interact with all levels staff / management. The VP Risk Manager I collaborates with Lines of Business by acting as an advisor to identify and assess risks that influence their business and ability to meet strategic objectives established by senior and executive management.
Responsible for advancing and operating the bank’s Business Process Risk and Control Self-Assessment (RCSA) program. The candidate will work with business partners in first- and second-line risk functions across all major divisions to ensure that assessments are accurately produced to make risk-based decisions. The role will require analysis and reporting on risk assessments to inform internal and external stakeholders.
Develop and implement a risk and control framework and associated policies/procedures tailored to the needs of a midsize bank that align with industry best practices by collaborating with stakeholders.
Responsible for coordinating the bank’s Operational Impact Team and managing the associated program and reporting. This includes assessing operational impacts and the necessary changes that are needed to the operational or technical infrastructure.
Ensure policy standards and regulatory requirements for associated programs are adhered to and make recommendations for policy updates based upon regulatory guidance and corporate standards.
Support Business Line Managers in the development, design and implementation of risk management practices, processes and control enhancements in areas identified for improvement by internal and external third parties Provide project management disciplines to managements corrective action plans and provide ongoing status reporting on the design, implementation, and effectiveness of those plans to mitigate noted risk management, compliance or internal control issues.
Drive operational risk awareness and training programs within the bank to promote a risk focused culture and enhance risk literacy across departments.
Stay updated with industry best practices, emerging trends, and regulatory changes related to operational risk in the banking sector, and provide recommendations accordingly.
PROBLEM SOLVING & DECISION MAKING
The VP Risk Manager I plays a pivotal role in making critical decisions that impact the Enterprise Risk Framework within the bank. This position requires a high level of problem-solving skills and the ability to analyze complex risk issues to develop effective solutions. The VP Risk Manager I will need to work both independently and in collaborative environments. The VP Risk Manager I will work closely with senior management and collaborate with various stakeholders to establish and advance the risk and control frameworks and standards, ensuring alignment with industry best practices and bank’s overall objectives. The decisions made by the VP Risk Manager I directly impact the implementation of risk management initiatives and drives a risk focused culture within the organization.
Education and Experience
Bachelor's Degree. Advanced degree is a plus.
5+ years of proven experience in risk management, internal audit, bank operations, or other related internal control function
Strong foundation of the banking industry
Skills/Knowledge
Ability to apply internal control and risk management concepts to a business setting
Strong analytical and problem-solving skills, with the ability to analyze complex risk management issues and provide effective solutions.
Effective communication and interpersonal skills to collaborate with stakeholders at all levels of the bank.
Ability to lead and influence cross-functional teams and drive change management initiatives within a midsize bank setting.
Detail-oriented with excellent organizational and project management skills.
Proficient Microsoft Office and database skills
Effective written and oral communications
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 a large full service commercial bank in the Greater Boston area, we are able to offer you unique opportunities for career growth throughout the organization, as well as a competitive compensation and benefits program.
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.