Director, Operational Risk (Loss Modeling & Scenario Analysis)

Job Description Summary

Lead the development of an operational risk approach, the setting of target risk levels, the calculation of operational risks, the development and execution of operational risk audits, and the delivery of advice for improvements in processes, procedures, and structures.

Job Description

Job Summary

Lead the development and execution of operational risk loss modeling and scenario planning program, supporting the overall non-financial risk management strategy.   

Essential Duties and Responsibilities

• Lead the development and implementation of enhanced operational loss modeling and operational scenario planning, in-line with banking/regulatory expectations.

• Take responsibility for assessing risk management and/or risk control policies and procedures.

• Undertake strategic and tactical risk modeling and scenario planning for business-critical decisions to support business strategy and to identify and mitigate risk in line with the risk appetite. Advise on modeling of risk scenarios to comply with the risk appetite.

• Develop the strategy for a significant area of responsibility, such as a function, anticipating complex issues, challenges, and opportunities. Ensure the strategy is successfully implemented and meets medium-term business needs.

• Represent the organization or institution in a variety of industry, institutional, and/or professional forums, boards, and committees, in order to promote the company or institution brand or efforts. Represent the organization in external relations with investors, clients, industry, partners, the public, and others. Focus is on a specific area of the organization, such as a function or department. May involve preparation of presentations and materials for professional partnering meetings, seminars, and conferences.

• Provide authoritative specialist advice to the leadership team of a small or nationally based organization or subsidiary to guide the implementation of policy and the design and implementation of projects and change initiatives.

• Ensure that business activities within a significant area of responsibility comply with relevant external regulatory and/or voluntary codes and with internal policies to minimize business risk and protect the reputation of the organization.

• Communicate the function's strategy and its relationship to the organization's mission, vision, and values; clarify the actions needed to implement this strategy within the area of responsibility; motivate people to commit to the mission, vision, and values and do extraordinary things to achieve the organization's business goals.

• Identify and manage stakeholders up to and including top management level, finding out their needs, issues, and concerns and reacting to them by leading and coordinating the development of stakeholder engagement plans to support the communication of business information and decisions.

• Manage the provision of a strategic corporate social responsibility policy and services.

• Manage and report on the performance of the function/business area; set appropriate performance objectives for direct reports and hold individuals accountable for achieving them; take appropriate corrective action where necessary to ensure the achievement of annual business objectives.

• Define the detailed organization structure for a business area to align with corporate principles, define the relationship between elements of the organization, and define the responsibilities of senior managers, to enable the organization to achieve its business objectives.

• Identify the capabilities needed to meet the current and emerging business needs of a significant business area. Evaluate current capabilities, identify gaps, and prioritize development activities. Motivate others to develop their capabilities and fulfill their personal potential. Build capabilities elsewhere in the organization through mentoring and other informal methods.

Knowledge, Skills, and Abilities

Knowledge of

• In-depth understanding of risk management practices and methodologies, including risk assessment and a solid understanding of internal control and mitigation strategy concepts.

• Specific subject matter expertise regarding control disciplines and an advanced understanding of Raymond James products and services, especially those associated with the area of responsibility.

• Advanced investment concepts, practices and procedures used in the securities industry.

• Principles of banking and finance and securities industry operations.

• Fin