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Operational Risk Associate in Lynn, MA at Eastern

Date Posted: 11/19/2018

Job Snapshot

  • Employee Type:
    Full-Time
  • Location:
    Lynn, MA
  • Job Type:
  • Experience:
    1 to 3 years
  • Date Posted:
    11/19/2018

Job Description

The primary function of the Operational Risk Associate – BCM is to provide support for the bank’s Operational Risk Management Program, primarily the Business Continuity Management (BCM) program.  The individual will act as an advisor in identifying and assessing risks and controls that influence the organization’s ability to meet strategic and risk appetite objectives.  The individual works closely with other governance and control functions such as Audit and Info Security, as well as the Business Lines/Technology to ensure operational risks at the Bank are appropriately identified, risk ranked, monitored and mitigated with effective controls.

Major Responsibilities Include:
 Business Continuity Management: 
 o   Manage the overall Corporate BCM plan, including updating Corporate BCM plan, emergency management system and storm playbook to reflect changes to organization.  Fulfill appropriate second line of defense oversight of the BCM Administrator accountabilities. 
 o   Establish and obtain appropriate approvals on the Annual Corporate BCM Test Schedule
o   Execute required testing at primary relocation sites, including coordination of business line and technology resources and follow up reporting and analysis from testing
o   Manage BCM vender relationships (emergency notification system and Disaster Recovery workspace), including contract renegotiations every 3 years
o   Manage office closures due to weather or other emergency events, including monitoring operations and being contact point during the closure; approx. 3-5 storms annually
o   Perform ongoing vendor BCM reviews, as required by the Vendor Management program.
o   Assist with Operational risk assessment and Business Unit Risk Assessment training efforts, including initial and ongoing refresher training and walkththroughs for BCM Administrator roles.
o   Facilitate Business Impact Analysis – Done every two years, in conjunction with BCM update process

 Vendor Management / Operational Risk:
o   Perform BCM impact assessment for new vendors being onboarded via new initiatives. As appropriate, meet with business lines and project team members to gather business requirements.  Collaborate with other Risk Management areas of the Bank (i.e. Information Security, Compliance, Legal) to aggregate a comprehensive view of “new Initiative” risks and recommendations.  Ensure incorporation of necessary updates into plans and testing requirements to address any BCM impact, as a result of new initiatives. 
o   Vendor monitoring requirement – coordinate with Corproate Credit annual vendor financial conditition reviews
o   Control activities - Review Monthly reports which looks for data conflicts / inconsistencies (ex. NPPI/GLBA versus non-customer information). Control exception review and follow up with Business Line and vendors. Ongoing (monthly/quarterly) reporting compilation for governance/oversight committees.
o   Assist with other ORM risk management activities as assigned, such as risk assessments, Archer system support, application administration in Archer, budget planning, analyzing risk trends and metrics, GLBA 501b
Conduct full vendor monitoring reviews for assigned vendors, in accordance with the Vendor Management Program


Job Requirements

Education and Experience



  •         Bachelor's Degree or equivalent experience preferred
  •         1 - 3 years Business Continuity Management, Operational Risk,  Compliance, Internal audit, other related internal control or financial analysis experience preferred.
  •         Strong foundation of the bank’s operations preferred. 
 Skills/Knowledge  


  •         Agreeable to obtaining a professional designation in the area of risk management or internal audit
  •         Ability to apply internal control and risk management concepts to a business setting is preferred
  •         Proficient in Microsoft Office Suite and database tools
  •         Effective written and oral communications
  •         Analytical skills
  •         Project management skills