Middlesex Savings Bank Operational Risk Officer in Westborough, Massachusetts

The Operational Risk Officer is responsible for supporting and enhancing the Bank’s operational risk program. The Operational Risk Officer serves in an advisory role and acts as the focal point for operational risk related activities. The Officer partners with business lines to mitigate the impact of activities that may expose the Bank to loss, regulatory or reputation risks, or to risk levels that exceed desired risk appetite through its business activities. Responsibilities include creating and overseeing the operational risk assessment process; participating in the introduction of new products and/or services; performing periodic monitoring of controls; preparing reports for a variety of audiences, including the Risk Oversight Committee; and participating in and supporting exams and audits, as appropriate. This position may also support activities of the Vendor Management Department and Information Security Department.

  • Serve as the subject matter expert on operational risk and control matters by developing/maintaining strong positive working relationships with business lines, staff, peers, other risk partners and senior management.

  • Assist and provide feedback to business lines around the development and monitoring of risks, controls, and first-line of defense testing.

  • Periodically monitor control effectiveness for various business lines; provide detailed reports outlining significant risk and control issues.

  • Assist business lines in evolving and maintaining their Risk Control Self Assessments. Transition said Assessments into the Bank’s automated risk management solution.

  • Support business lines on their remediation plans to address control gaps to ascertain that operational, legal, regulatory, and reputation risks are being properly managed and mitigated.

  • Actively participate in a robust review and challenge process in the following areas:

  • Risk & Control Self Assessments

  • New or significantly modified products and/or services

  • New or significantly modified processes and procedures

  • Operational risks associated with outsourced third party activities

  • Participate in, and in certain situations lead, operational risk related projects, initiatives, working groups or other tasks.

  • Facilitate and/or support training for business lines on operational risk policies and procedures, current industry practices, and risk and control standards.

  • Interface with regulators and auditors, as requested.

  • Keep abreast of banking and financial services industry requirements for risk.

  • Perform related and unrelated duties, as may be required.

  • Assist with adherence to vendor management, risk, and information security policies, standards, and procedures. Assist with socialization of policy & control recommendations to stakeholders across the enterprise in order to gain acceptance.

  • Assist with the collection and review of vendor due diligence materials in line with GLBA and TSP regulatory guidance.

  • Assists with the Bank’s Model Risk Management Program

BS/BA degree with a minimum of 5 years banking/financial institution experience. Experience working on/managing projects across multiple functional areas and dealing with multiple business partners. Ability to grasp complex processes quickly and identify risks and compensating controls. Excellent problem solving abilities and results oriented. Proven ability to work independently and as part of a team. Strong leadership skills and ability to influence others. Excellent oral, written and interpersonal skills. Strong analytical/research skills coupled with ability to effectively summarize findings. Ability to adapt to change and communicate changing requirements. Proficient PC skills with experience in Microsoft Office, Outlook and SharePoint. Excellent organizational skills and meticulous attention to detail.

Middlesex Savings Bank is an EO/AA Employer: Min/Fem/Vet/Disabled

Search Firm Representatives, Please Read Carefully: Middlesex Savings Bank does not accept unsolicited resumes from search firms for this or any employment opportunity

Req #: 3720

Standard Working Hours: Monday to Friday 8:00am to 5:00pm

External Company URL: www.middlesexbank.com

Street: 120 Flanders Road