Operational Risk Analyst - Ware, MA, US

Being a Country Bank team member has a lot of perks  Our competitive total compensation package and comprehensive benefit package include: · Medical, dental and vision insurance, a 401(k) Plan with a generous employer contribution plus match; · Income protection benefits; · Educa ...

Job description

Being a Country Bank team member has a lot of perks  Our competitive total compensation package and comprehensive benefit package include:

• Medical, dental and vision insurance, a 401(k) Plan with a generous employer contribution plus match;
• Income protection benefits;
• Educational assistance and tuition reimbursement benefits;
• Generous total paid time off, and more

Country Bank is a growing mutual community bank with locations in Hampden, Hampshire and Worcester counties. We are Made to Make a Difference in the lives of our customers, our communities, and for our team members every day since 1850. It is our people that drive our success and create our inclusive and engaging culture. We're excited to meet you to discuss our career opportunities and how you can make a difference as a part of our growing Corporate Risk team

About the Job:

We're excited to announce an opportunity for the position of Operational Risk Analyst This position supports the Bank's risk management efforts by evaluating operational processes, policies, and controls across departments. The Operational Risk Analyst will assist with risk assessments, policy and insurance reviews, incident response analysis, business continuity planning, and reporting activities, helping ensure the Bank operates in a safe, compliant, and well controlled environment.

The hiring range for this position is $65,000 to $85,000.

This position is Full Time, 40 hours weekly. 

Essential Duties and Responsibilities (Other Duties May be Assigned):

• Assists in the development and support of the risk assessment process to ensure risks are managed in concert with the bank's risk appetite statement and to assess compliance with federal and state regulatory requirements, industry standards, and bank operating procedures. Works with risk partners and business lines on risk assessment development and oversight and researches key risks and controls. Participates in risk analysis and risk assessment meetings.
   
• Provides support and perform analysis of proposed new products and services to ensure new initiatives begin in a manner that minimizes risk to the Bank. Identifies potential business risks, operational, and regulatory process deficiencies and improvement opportunities.
   
• Coordinates annual policy review and updates via communication with policy owner(s). Analyzes the impact of changes to federal and state regulations and makes recommendations for changes to policies, procedures, and practices. Ensures appropriate Risk Management Committee and Board reporting and approval and maintains approval tickler system. Publishes approved policies and maintains appropriate record retention of all policies. Works with business areas to create new policies and ensure formatting and presentation are aligned with existing policies. Research, as necessary, to confirm new policy content is accurate and appropriate given state and federal regulations. 
   
• Reviews Bank-wide insurance coverage, maintains insurance policies, and coordinates renewals with management and insurance agent. Assists in the preparation of the annual insurance summary presentation to the Board.  
  
  
• Manages Incident Response reports, performs a root-cause analysis, and documents corrective actions taken. 
   
• Organizes the review of all Business Continuity - Business Impact Analysis (BIA) updates with business areas. This includes the review of all continuity reports prepared by business lines.
  
  
• Coordinates the semi-annual review of the FDICIA control matrix with all business areas. Coordinates subpoena responses with relevant business areas. Works with IT Security to send out subpoena documentation. Tracks all subpoena information in Subpoena Dashboard and uploads subpoena and response letter into retention. Provides password for subpoena requestor after completing identity verification.
   
• Monitors regulatory requirements. Maintains Regulation O tracking and reviews daily Regulation O Overdraft reporting. 
   
• Assesses Operational Risks within Bank and tracks on Operational Risk Dashboard. Drafts memos for presentation of newly added operational risks to Risk Management Committee. Conducts annual review of record retention requirements within Risk Department and for Bank-wide record retention policy and schedule.
   
• Responsible for building long-lasting relationships with customers, community and colleagues through the embodiment of our Core Values: Integrity, Service, Teamwork, Excellence and Prosperity. 
   
• Other job duties, as assigned.

Knowledge and Skills

It is required that the employee in this position can work independently while interpreting ideas and facts, while also analyzing and interpreting federal and state laws and/or regulations. This employee should have keen attention to detail, excellent organizational skills, and ability to manage multiple projects within set deadlines.

This employee should have strong written and verbal communication skills to effectively communicate risk and control concepts to staff and develop reports and memos to articulate risks. This position requires the proven ability to partner effectively across all levels of the organization and develop positive working relationships, along with the ability to work with confidential information. Employees who have demonstrated high motivation and a results-oriented mindset are preferred.

This position requires intermediate knowledge of the Microsoft Office Suite, including Excel and Outlook.  Basic knowledge of Microsoft Word is also necessary.

Education and Work Experience

A High School diploma or equivalent is required; A Bachelor's degree, or equivalent work experience, is required. A minimum of two years of work experience in risk management or audit is required. Experience in risk management in the banking industry is preferred, while knowledge of banking operational and technology processes is required. 

Working Conditions/Physical Requirements

This position is in an office environment, which means the physical surroundings are generally pleasant and comfortable with minimal exposure to injury or other hazards, with a moderate level of noise. Prolonged periods of sitting and looking at a computer screen with freedom of movement on a regular basis is expected. Minimal physical effort is required but could include: repetitive motion of wrists and fingers; talking and hearing; and handling of light materials and supplies.

Country Bank is an Equal Opportunity Employer. Diverse applicants encouraged to apply.