Director, Operational Risk Management Business Aligned Oversight

If you’re looking for a meaningful career, you’ll find it here at Webster. Founded in 1935, our focus has always been to put people first--doing whatever we can to help individuals, families, businesses and our colleagues achieve their financial goals. As a leading commercial bank, we remain passionate about serving our clients and supporting our communities. Integrity, Collaboration, Accountability, Agility, Respect, Excellence are Webster’s values, these set us apart as a bank and as an employer.  

Come join our team where you can expand your career potential, benefit from our robust development opportunities, and enjoy meaningful work!

Position Summary

Reporting into the Senior Managing Director of Operational Risk Management, the Director will play a pointed role in reviewing and challenging key operational risks across the organization. This role will be the primary point-of-contact for direct oversight of operational risk related matters for one or more Lines of Business/Business Units within Webster Financial Corporation specifically related to risk & control self-assessments (RCSAs), operational risk events, operational losses, risk metrics, issues (also known as control gap identification and mitigation), and new activities. The Director helps to drive a control-oriented culture across the organization through their collaboration and partnership with colleagues in each line of defense.

Key responsibilities for the role:

• Support the Senior Managing Director of the Business aligned Risk Oversight team and act as the primary point-of-contact for operational risk related matters for one or more business units.

• Provide independent oversight and challenge to the Front Line Unit in identifying, assessing, and mitigating operational risks.​

• Provide independent review and challenge throughout RCSA workshops to ensure adherence to policy requirements. The Director will analyze results, identify control weaknesses/gaps, suggest actions to mitigate operational risk, and tracks escalation items from identification through to resolution using an escalation log​​.

• Provide independent review and challenge of operational risk events that may have resulted in an operational loss. Provide operational oversight and guidance to the Front Line Unit to identify operational risk events.

• Encourage first line self-identification of control gaps. Provide independent review and challenge on action plans to resolve the control gaps.

• Provide challenges to the risk decisions to maintain an overall balance of risk across the organization. Provide operational oversight and guidance to the Front Line Unit with risk acceptance activities.

• Provide independent review and challenge for new activities (also known as new products and/or services).

• Provide operational oversight and guidance to the Front Line Unit with emerging risk activities.

• Prepare documentation to evidence effective review and challenge for RCSA workshops and other operational risk related reviews.

• Monitor key risk indicators (KRIs)/risk metrics and escalate any significant risk exposures or control weaknesses

• Collaborate with risk partners across the organization to promote a controls-oriented culture, as well as with the first and third lines of defense to ensure a cohesive and comprehensive approach to risk management.​

• Conduct training sessions and workshops to raise awareness of operational risk management practices across the organization​.

• Oversee and ensure compliance with the bank's operational risk management framework, regulatory requirements, and internal policies. Ensure that the organization complies with relevant regulatory requirements related to operational risk

• Understand banking regulations, risk management frameworks, supervisory expectations, and industry trends for large financial institutions, as it relates to operational risk management.

Key skills/experience qualifications for the role:

• Bachelor's degree in Finance, Business Administration, Risk Management, or a related field.

• At least 5 years of Risk or Audit related experience in financial institutions.

• At least 8 years of experience within the financial services industry.

• Solid experience challenging risks and controls, including RCSA

• Strong knowledge of core Operational Risk Management programs including Risk and Control Self-Assessments, Operational Risk Event/Loss reporting and mitigation, Risk Metric reporting, Scenario Analysis, and Emerging Risks.

• Knowledge of OCC Heightened Standards and Regulatory Category IV banking requirements preferred.