Director, Operational Risk Management

About the Role

Day-to-day, the Director will be engaged in strategic planning, risk assessments, and collaborative work with various departments to ensure that operational risk management is integrated into all aspects of the business. This includes working closely with senior management, committees, and forums to provide comprehensive operational risk profile reporting and advice on risk-related matters. The role requires a deep understanding of operational and compliance risk frameworks, as well as the ability to connect these with other non-financial risk domains such as compliance, third-party risk, business continuity, and tech/cybersecurity.

In the current remote job market, the ability to work effectively in a distributed team environment is crucial. The Director must be able to lead, motivate, and manage a team remotely, ensuring that all members are aligned with the company's operational risk management goals and objectives. This includes leveraging digital tools and technologies to facilitate communication, collaboration, and the execution of risk management strategies.

What You Will Do

• Develop, implement, and continuously improve KOHO's operational risk management framework, ensuring it aligns with OSFI Guidelines and banking industry standards.
• Conduct regular operational risk assessments across the business and operations, identifying areas of high risk and developing mitigation strategies.
• Build and lead a Second Line Controls Testing program, enhancing the company's internal controls and risk management practices.
• Provide regular, comprehensive operational risk profile reporting to Senior Management, committees, and forums, ensuring transparency and informed decision-making.
• Serve as a trusted advisor to Senior Management on operational risk-related matters, offering strategic guidance and recommendations.
• Collaborate with internal audit, compliance, and other risk management functions to ensure a cohesive approach to risk management.
• Stay updated on regulatory changes, industry trends, and best practices in operational risk management, applying this knowledge to enhance KOHO's risk management framework.
• Develop and maintain relationships with external parties, such as regulators, auditors, and industry peers, to stay informed about operational risk management practices and standards.
• Lead and participate in project teams focused on operational risk management initiatives, ensuring these projects are delivered effectively and in line with the company's strategic objectives.

What We Are Looking For

• 10+ years of progressive experience in operational and enterprise risk management, controls testing, internal audit, or compliance within financial services.
• Deep knowledge of operational and compliance risk frameworks, including OSFI Guidelines and banking industry standards.
• Solid understanding of the connectivities across non-financial risk domains, such as compliance, third-party risk, business continuity, and tech/cybersecurity.
• Proven leadership experience, with the ability to lead, motivate, and manage remote teams effectively.
• Excellent communication and interpersonal skills, with the ability to advise senior management and collaborate with various stakeholders.
• Strong analytical and problem-solving skills, with the ability to analyze complex operational risks and develop effective mitigation strategies.
• Experience with risk management software and tools, with the ability to leverage technology to enhance operational risk management practices.

Nice to Have

• Experience in a fintech or digital banking environment, with an understanding of the unique operational risks associated with these industries.
• Certification in risk management, such as CRMA or FRM, demonstrating a commitment to professional development in the field.
• Experience with data analytics and reporting tools, with the ability to analyze and present complex risk data to senior management and other stakeholders.

Benefits and Perks

• Competitive salary range, reflecting the market rate for similar positions in the financial services industry.
• Flexible and remote work arrangements, allowing for a better work-life balance and the ability to work from anywhere.
• Opportunities for professional development and growth, including training, certifications, and participation in industry events.
• Access to cutting-edge technologies and tools, enhancing the ability to perform risk management functions effectively.
• Comprehensive benefits package, including health insurance, retirement plans, and paid time off, supporting the well-being and financial security of employees.
• Innovation and automation opportunities, allowing employees to leverage technology to streamline processes and improve operational efficiency.
• Autonomy and high trust in a distributed team environment, fostering a culture of responsibility, innovation, and collaboration.

• Develop a Strong Understanding of Regulatory Requirements: Familiarize yourself with OSFI Guidelines and banking industry standards to demonstrate your expertise in operational risk management.
• Highlight Leadership Experience: Emphasize your ability to lead and manage teams, especially in a remote setup, to show you can drive strategic initiatives and collaborate effectively.
• Leverage Technology: Showcase your proficiency in risk management software and tools, and your ability to leverage technology to enhance operational risk management practices.
• Build a Professional Network: Develop relationships with regulators, auditors, and industry peers to stay informed about operational risk management practices and standards.
• Prepare for Strategic Interviews: Be ready to discuss your approach to operational risk management, including how you identify, assess, and mitigate risks, and how you stay updated on industry trends and best practices.
• Negotiate Based on Market Rate: Research the market rate for similar positions and be prepared to negotiate your salary based on your experience and qualifications.
• Watch for Red Flags: Be cautious of companies with unclear or ineffective operational risk management practices, and prioritize those that demonstrate a strong commitment to risk management and regulatory compliance.