What are the responsibilities and job description for the Operational Risk Management Specialist position at AAA Life Insurance Company?
Overview:
We are looking for an Operational Risk Management Specialist to join our team and lead the operational risk program including enhancing and overseeing the application of operational risk policies and processes, technology and tools, and governance processes to create lasting solutions for minimizing losses from failed internal processes, inadequate controls, and emerging risks. Through facilitation of Risk and Control Self-Assessments with first line management and risk owners, the ORM Specialist will catalog operational risks and issues to identify trends and opportunities for control enhancements.
Responsibilities:
Qualifications:
Are you an experienced Operational Risk Management Specialist ready for an opportunity to be a part of our growing team?
We are looking for an Operational Risk Management Specialist to join our team and lead the operational risk program including enhancing and overseeing the application of operational risk policies and processes, technology and tools, and governance processes to create lasting solutions for minimizing losses from failed internal processes, inadequate controls, and emerging risks. Through facilitation of Risk and Control Self-Assessments with first line management and risk owners, the ORM Specialist will catalog operational risks and issues to identify trends and opportunities for control enhancements.
Responsibilities:
Position Responsibilities
The ORM Specialist will typically have a business operational background; strong risk assessment and mitigation experience; and is continually developing risk assessment, data analytics, practical business, and industry skills and knowledge. Responsibilities include:
Implement and sustain governance protocols for the Operational Risk Framework, thereby ensuring effective operational risk practices in the organization.- Work with multiple business units to complete risk assessments (Risk and Control Self- Assessments) covering risks associated with the Company’s products, services, operations, and business decision, and identify associate risk mitigation factors.
- Develop operational risk policies, standards, and related training for risk management.
- Assist business unit management in the development of key risk and control indicators, and strategic plans to prevent, eliminate and mitigate operational risks based on root cause analysis.
- Track, monitor and report operational risk issues and decisions.
- In response to material risk events, whether internal or external, conduct independent deep dive reviews and assessments to determine root cause(s), assess control environment, escalate issues, and identify/monitor remedial actions to mitigate against the risk of future losses.
- Consult with internal groups, such as Enterprise Risk Management, Internal Audit, Compliance, Legal and other teams on matters related to risk, controls, self-assessments, incidents, and infrastructure projects.
- Identifies opportunities to continuously improve the team efforts and departmental infrastructure in pursuit of Operational Excellence.
Qualifications:
- Bachelor’s degree or higher required in business administration, finance, accounting, or related field preferred.
- Minimum of 5 years related experience (i.e., audit, compliance, or risk management preferred).
- Knowledge of the COSO Enterprise Risk Management Framework preferred.
- Life insurance knowledge and experience preferred.
- Understanding of various financial management principles and regulatory compliance requirements for insurance providers.
- Demonstrate excellent quantitative analytical skills.
- Ability to think critically and independently, devote significant attention to details, remain highly organized, and clearly communicate complex materials to management.
- Ability to use independent judgment and discretion.
- Effective project management skills.
- Ability to establish and maintain a professional and harmonious team-oriented working relationship with co-workers, business unit personnel and management, and external contacts.
- Proficient with personal computers and in using Microsoft Office software products.
- Excellent written and verbal communication skills.
Salary : $82,098 - $123,146
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