Risk Analyst

Job Description Summary:

The Lead Risk Analyst is responsible for executing an operational risk management framework that includes risk governance, policies, controls and tools for overseeing and advising on Operational, IT and Conversion risks. You will collaborate with business leaders across the different lines of business to help ensure elevated risks are being escalated and brought to Senior Leadership attention when appropriate. This person will be responsible for performing risk assessments and other risk activities such as Root Cause Analysis, and facilitation of Risk Control Self Assessments. Work collaboratively with the Head of Risk to ensure risk is identified and mitigated at an appropriate level.

Responsibilities:

• Supports TPA Risk Framework including full implementation of the Risk Management Lifecycle.
• Work with internal controls and business teams to develop, monitor, and Risk Control Matrix (RCM).
• Collaborate with First Line Teams including technology and information security leaders, operations and finance to provide risk perspective in response to definition, prioritization, and execution of various Business initiatives.
• Ability to proactively understand, identify, assess and document key Operational and Financial and IT risks and controls.
• Executes on Risk Assessments including but not limited to: Operational, Financial, Technology and System Conversion.
• Maintains a Comprehensive Risk Register for the TPA.
• Scopes and conducts annual Risk Control Self Assessments as well as Deep Dives with business lines.
• Conduct and Review RCAs to understand the root cause (the why?) a risk event occurred and coach First Line teams on drafting these appropriately.
• Assess policies, procedures, and processes supporting IT, Information Security, Operations and Finance and provide key input into risk mitigation strategies and programs.
• Partner and liaise with the Business Process Owners to assist Insurer audit teams in the effective planning and execution of audits on Transform and Conversion activities.
• Work with Business Process Owners and Management to prepare responses to Audit Deficiencies including any necessary Action Plans.
• Ensures remediation/action plan milestones and deadlines are being met
• Other duties as assigned.

Qualifications:

• Bachelor's degree in Finance, Business, Computer Science, MIS, or related discipline or equivalent work experience related to position
• Experienced in Risk Management, Audit or Internal Controls minimum 10 years.

• Should have an excellent understanding of the Three Lines of Defense Model and Risk Management Lifecycle as well as Inherent and Residual Risk.
• Experience with conducting RCAs, RCSAs, and Deep Dive assessments.
• Knowledge of the finance and insurance industry

Preferred Qualifications:

• Prior System Conversion Risk Management experience
• IT Risk Experience

Behavioral and Leadership Competencies:

• Attention to Detail.
• Excellent communication (both verbal and written) skills. Good listening and interpersonal skills.