Director, Operational Risk Management

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!

Job Summary:

The Director in the second line of defense (2LOD) ORM team reports to the Managing Director (MD) and supports the MD with the development and execution of the operational risk program.  This role will be the primary point-of-contact for the oversight of operational risk related matters for multiple business units within Webster Financial Corporation.  As the primary point-of-contact, this colleague is expected to partner with the First Line Control Officer function of the respective business unit to assist with, and in some cases review, risk & control self-assessments, operational risk events, risk metrics, issues (also known as control gap identification and mitigation), operational losses, 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.

Job Responsibilities:

• Support the Managing Director of the Operational Risk Management team and acts as the primary point-of-contact for operational risk related matters for multiple business units.

• Review and provide feedback on risk & control self-assessment results from the first line of defense.  The Director will analyze results, identify control weaknesses/gaps, and suggest actions to mitigate operational risk. 

• Assist business units with the development of management-level operational risk metrics to monitor the operational risk profile of the respective business unit.

• Assist business units with the identification and analysis of operational risk events that may have resulted in an operational loss.

• Analyze operational loss reporting to identify themes, trends, and/or patterns. 

• Encourage first line self-identification of control gaps.  Partner with First Line Control Officers to develop action plans to resolve the control gaps.

• Monitor new activity (also known as new products and/or services) initiatives and provide appropriate second line review, assessment, and challenge.

• Collaborate with risk partners across the organization to promote a controls-oriented culture.

• Able to work on multiple projects/initiatives concurrently (e.g., committees, enterprise projects, risk reporting) to be able to understand the team’s strategic objectives and decision making for execution.

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

• Participate, and in some cases manage ad-hoc projects and/or initiatives within the ORM team.

Education, Experience and Skills:

• Bachelor's degree in related field required.

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

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

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

• Ability to manage change and effectively influence and consistently build strong lasting working relationships with stakeholders across all levels.

• Excellent written and verbal communication skills.

• Ability to express complex ideas using simple terminology.

• Excellent work ethic, accountability, integrity, high degree of autonomy and personal drive.

• Strong Excel and PowerPoint skills.

• Experience with industry leading GRC systems is a positive.

• This position will have a hybrid schedule and can be based onsite in Southington, CT, White Plains, NY or Jericho, NY.

The estimated hourly range for this position is $115,000 USD to $135,000 USD.  Actual salary may vary up or down depending on job-related factors which may include knowledge, skills, experience, and location. In addition, this position is