Job Description

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!

The Operational Risk Management (ORM) Senior Managing Director is responsible for direct oversight of the Operational Risk Oversight/Review and Challenge for Webster Bank and its subsidiaries. Acts as lead Single Point of Contact for the ORM team as it relates to the oversight components, including review and challenge, of Operational Risk and assists with reporting to senior management and Line of Business executives.  Responsible to identify capability gaps and oversee the broader ORM Oversight effort.

Responsible for leading a team of Operational Risk professionals focused on oversight components related to assessments, loss events, key risk indicators, and self-identified issues. Provides leadership to deliver effective 2nd line challenge and oversight in line with Risk Management’s objectives.

Responsibilities:

• Support the Head of Operational Risk Management (ORM) across the enterprise to strengthen the risk culture and 1st line ownership of risks and controls in alignment with the Risk Appetite Statement of the Bank
  • Lead and execute on Operational Risk Management oversight elements including the encouragement of self-identification through reporting and tracking self-identified issues and collaborate with ERM team on Issues Management Program
• Provide direct oversight of FLU risk management activities. This function will provide review and challenge over operational risk related activities, including workshop coverage provided throughout the RCSA execution period.
• Prepare/Contribute to executive level reporting for ORMC, ERMC, senior management, and the board
• Develop and retain high performing colleagues with existing operational risk knowledge in order to mature and enhance the program
• Develop and maintain strong working relationships within all lines of defense within the Bank to ensure accountability and collaboration
• Develop and maintain risk management policies, frameworks, and guidelines.
• Provide independent oversight and challenge to the 1st Line in identifying, assessing, and mitigating operational risks.
• Provide support to team members conducting review and challenge across the 1st Line business units operational risk assessments to monitor operational risks, evaluate effectiveness of risk mitigation and controls implemented by 1st Line.
• Demonstrate proficiency in various risk management programs, including but not limited to RCSA, change management, operational loss events, risk metrics, scenario analysis, and operational risks.
• Oversee and ensure compliance with the bank's operational risk management framework, regulatory requirements, and internal policies as it relates to Operational Risk.
• Oversee the monitoring of key risk indicators (KRIs) and escalate any significant risk exposures or control weaknesses
• Conduct training sessions and workshops to raise awareness of operational risk management practices across the organization
• Work closely with the with other team members in the second line, as well as with the first and third lines of defense to ensure a cohesive and comprehensive approach to risk management.
• Leverage technology and data analytics to enhance risk monitoring and reporting capabilities.

Education, Skills & Experience:

Bachelor's Degree in related field required

At least 5 years of Risk related experience, and/or audit in financial institutions

12+ years of experience within the financial services industry

Strong knowledge of core Operational Risk Management components and processes, including Risk and Control Self-Assessments, Operational Risk Event reporting and mitigation, Key Risk Indicators, Scenario Analysis, Emerging Risks, and products and services risk assessments and internal controls

Preferred:

Master’s degree in related field

Certified Risk professional

At least 10 years of experience as a Risk Manager or Assurance within the financial services industry

Experience with Governance, Risk, and Compliance (GRC) software and knowledge

Excellent communication, interpersonal and analytical skills required along with the ability to work independently. Ability to collaborate and connect with all levels of an organization through advanced leadership skills.

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or protected veteran status.

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