AVP Operational Risk
AVP Operational Risk
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1 Vacancy
Job Description
Job Summary
The AVP Operational Risk position will oversee the Business Unit Segment relationships of Operational Risk Management within the Enterprise Risk Management Program (ERM) program. The position will require building effective partnerships with Business Line Management and within the Risk Department to build and sustain a robust program that includes the identification measurement monitoring reporting and mitigation of risks to be within the stated risk appetite and operational limits. Operational Risks in the company center on people processes technology and external impacts including regulatory changes.
This position will be a member of the team representing the 2nd Line of Defense in the enterprisewide risk management framework developing analytical processes supporting risk measurement aggregating risk information providing content and delivering risk management reporting. The position will be accountable for ownership of the business area relationships and associated risk advisory work within the Company.
Organization
This position reports directly to the VP Head of Operational Risk and will collaborate closely with the VP Risk Governance Analytics & COS and will interact with all levels of senior management including significant ongoing exposure with other executive officers.
Duties and Responsibilities
- Develop and enhance Operational risk compliance strategy practices and policies to analyze quantify and report operational risks and manage risks according to an ERM framework.
- Lead the of the Risk and Control SelfAssessment processes
- Key member in implementing the risk and control program enhancements across the Company
- Work with various business lines to develop suitable Key Risk Indicators (KRIs) and other relevant risk metrics for Operational Risk
- Provide education support and establish mechanisms with the business units to gather and report Operational losses
- Work with various business lines and compliance to ensure compliance with operational risk policies standards and regulatory requirements. Assist in updates as needed to policies standards and practices.
- Articulate the key operational risks to senior management and the relevant governance forums. This includes identifying areas for process/control improvement.
- Support key operational risk initiatives with the business areas including business continuity planning information security operational resilience and strategic and targeted risk assessments.
- Ensure that the team is informed of and represented on relevant business projects and initiatives and seen as business enablers from a risk challenge and support perspective.
- Proactively champion a continuous improvement mindset unconstrained by current technologies or processes.
- Able to identify value adding quick wins and longerterm improvement opportunities.
- Performs a comprehensive review and analysis of material risks by monitoring internal and external factors and understanding key business initiatives.
- Key contributor in updating and coordinating changes to the risk entity structure risk taxonomies risk indicators risk limits analytics and enterprisewide summary risk documentation as needed.
- Ensure proper linkage between the enterprise risk processes (risk assessments metrics reporting operational risk limits) to the business objectives and strategy.
- Coordinate across Risk Management team to ensure alignment to the risk framework and effective information flows
- Drive continued development and building of a risk management culture through coordination of employee awareness and training programs that emphasize the importance of risk management in all aspects of business operations and corporate decision making.
- Monitor industry developments and ERM Best Practices and recommend process improvements as appropriate.
- Support the Enterprise Risk Committee meeting with senior executives to identify track monitor and report on emerging risks in the Company status updates on risk events and mitigation activities.
Support the Enterprise Operational Risk Program.
- Support programs that monitor measure analyze and report on operational risk exposures across the Company.
- Support standards for the of operational risk programs within functional units including the reporting of operational risk incidents operational losses of risk and control selfassessments identification and reporting of key operational risk indicators and identification and reporting of key operational risk focus areas.
- Develop and enhance the operational risk scenario identification and planning process.
- Assist business areas in the review of operational incidents root cause identification control remediation and documentation.
- Ensure appropriate integration of the operational risk program.
- Partner with process and control owners in control gap remediation.
- Ensure appropriate integration of Internal Audit data into the operational risk program.
Experience and Education Requirements
- Bachelors degree in Risk Accounting Finance Information Technology or other related fields. Masters degree preferred
- Minimum of 10 years experience working in Operational Risk or similar role
- Life and annuity product knowledge as well as strong understanding of the insurance industry
- Experience presenting to senior management and external stakeholders
Skills and Abilities
- Ability to work in a dynamic fast paced multi project environment
- Selfstarter with the ability to work as part of a crossfunctional team either with or without supervision
- Excellent communication skills both verbally and written
- Flexible and influencing
- Strong analytical skills and good attention to detail
- Tenacious determined and able to deliver results within specified constraints
- Able to build and maintain effective working relationships at all levels
- Demonstrated ability to influence others at every level
- Strong understanding of industry best practices
Other Requirements
- Perform other functions duties and projects as assigned
- Regular and punctual attendance
- Some travel may be required (less than 10
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Additional Information
Work Environments
F&G believes in an employeecentric flexible environment which is why we offer the ability for inoffice hybrid and remote work arrangements. During the hiring process youll work with your leader to decide what works best for your role.
F&G complies with federal and state disability laws and makes reasonable accommodations for applicants and candidates with disabilities unless such accommodation would cause an undue hardship for F&G. If reasonable accommodation is needed to participate in the job application or interview process please contact
Join our employeecentric hybrid work environment: F&G Careers
About F&G
Since 1959 Fidelity & Guaranty Life Insurance Company (F&G) has offered annuity and life insurance products to those who are seeking security in retirement and protection during lifes unexpected events.
As a national Top Workplace1 an Iowa Top Workplace2 and a proud equal opportunity employer F&G team members are empowered collaborative dynamic and authentic. We believe that by embracing these values we will continue to build and strengthen the company while continuing to be a great place to work.
1Top Workplaces USA
2Des Moines Register Top Workplaces
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Required Experience:
Exec
Employment Type
Full Time
