Operational Risk Analyst

Job Description

About TRS

Since 1917, the Teachers’ Retirement System of the City of New York (TRS) has been securing better futures for NYC educators. With a pension fund valued at approximately $123 billion, TRS serves over 274,000 members, providing them with retirement, disability, and death benefit services.

At TRS, we seek dedicated professionals who are passionate about their work and committed to excellence. We pride ourselves on our member-centric culture, focused on delivering outstanding service and support to our members.

Position Summary

The Risk Management Department is responsible for identifying, mitigating, and monitoring risks across the agency. The department encompasses several key programs, including Enterprise Risk, Operational Risk, Information Security (InfoSec), Fraud Risk, the Operational Help Desk, and Agency Privacy. Through proactive oversight and evaluation, the department fosters a culture of risk awareness and control throughout the organization.

The Operational Risk Analyst position offers a valuable opportunity to gain hands-on experience in operational risk management within a financial services environment. The selected candidate will support the Operational Risk and Fraud Risk teams through risk assessment, mitigation, and reporting.

Key Responsibilities

- Partner with subject matter experts, process owners, and risk champions across the agency to identify, assess, document, and monitor operational risks and the effectiveness of associated controls.
- Develop, maintain, and enhance operational risk documentation.
- Evaluate existing and ongoing risk and control assessments.
- Maintain and optimize Key Risk Indicator (KRI) dashboards and reporting tools to provide meaningful risk insights and support informed decision-making by management.
- Serve as the primary point of contact for risk reporting and dashboard enhancements.
- Collaborate with the Fraud team to conduct Fraud Threat Modeling exercises and fraud risk assessments.
- Prepare operational risk awareness materials and communications to promote a strong risk culture throughout the agency.
- Monitor risk mitigation activities and engage with business units to ensure timely remediation of identified risks and control deficiencies.
- Perform other duties and responsibilities as assigned.

ASSISTANT RETIREMENT BENEFITS - 40491

Qualifications

1. An associate degree or completion of 60 credits from an accredited college, including or supplemented by 9 credits in mathematics, statistics, accounting, and/or actuarial science; or

2. A four-year high school diploma or its educational equivalent and two years of satisfactory full-time experience performing mathematical, statistical, actuarial or accounting computations in one or more of the following: a) a retirement or employee benefits plan; b) customer service in a financial
institution; and/or c) in a position requiring the application of laws, rules and regulations and the use of statistical, actuarial or similar tables; or

3. A satisfactory combination of education and/or experience equivalent to “1" or “2" above. College education may be substituted for experience in “2" above on the basis that 30 semester credits from an accredited college may be substituted for each year of required experience. However, all candidates must posses a four-year high school diploma or its educational equivalent and either 9 semester credits
in mathematics, statistics, accounting and/or actuarial science from an accredited college or one year of experience as described in “2" above.

Additional Information

The City of New York is an inclusive equal opportunity employer committed to recruiting and retaining a diverse workforce and providing a work environment that is free from discrimination and harassment based upon any legally protected status or protected characteristic, including but not limited to an individual's sex, race, color, ethnicity, national origin, age, religion, disability, sexual orientation, veteran status, gender identity, or pregnancy.