Risk Management Analyst
Enterprise Bank
- Lowell, MA
- Permanent
- Full-time
- Coordinates the quarterly completion of management’s internal control matrices. Reviews, analyzes, and reports the changes to the quarterly internal control matrices to the Risk Management Director, CRO, CFO and CEO. Completes, or assists other departments with the completion of, risk assessments relating to products, projects, applications, processes, or initiatives, including the development of appropriate key risk indicators and performance metrics by working with the Risk Management Director, the Chief Risk Officer, and the business units.
- Aids in the development of policies, procedures, and standards to consistently apply risk management practices within each business unit. Determines the root cause of risk events stemming from process and control breakdowns, disaster situations, and policy exceptions and documents this information. Follows up on any applicable remediation efforts.
- Coordinates the annual review of the Bank’s Management approved policies, distributing the policies for review and approval.
- Assists with the Bank’s authority limits process by updating limits and tracking certifications.
- Assists with the administration of the Bank’s Code of Business Conduct and Ethics, including tracking gifts received, annual training and providing guidance to the Bank’s team members.
- Performs analyses on various new and existing third-party relationships to determine the degree of risk in partnering with the third parties and assigns risk ratings and gathers necessary information/documentation.
- With limited or no supervision, prepares thorough written vendor analysis that includes the analysis of audit reports, financial statements, information security reviews, and suggested risk mitigation controls.
- With limited or no supervision, reviews the provisions of third-party contracts and their impact on the bank and recommends changes to the Risk Management Director or the vendor owner during the contract negotiation process.
- Trains vendor owners on the use of the Bank’s third-party risk management software and maintains related training materials.
- Works with vendor owners to obtain up to date vendor due diligence information.
- Utilizes management reporting capabilities of the Bank’s risk management software to monitor and report on the Bank’s third-party risk management efforts.
- Assists with the Bank’s response to weather emergencies and other incidents.
- Facilitates and documents business continuity tests and live events.
- Coordinates the Bank’s Business Impact Assessment and individual department disaster recovery plans, including the recovery time objectives and the recovery point objectives for each process as well as related internal controls and third parties necessary to complete the process.
- Develops, maintains, and tests Bankwide responses to operational risk events.
- Assists with the creation of business continuity strategies covering a variety of contingencies including the unscheduled loss of services provided by key vendors.
- Trains team members on policies, procedures, and plans designed to mitigate the Bank’s operational risks.
- Prepares written analyses and detailed summaries of operational risk related programs and statistics to be presented and reviewed by senior management and board committees.
- Leverages the risk management software to analyze new products, services, and processes for their impact on the Bank’s third-party risk management, business continuity, information security, and enterprise risk management programs.
- Supports technology updates to the Bank’s risk management software.
- Assists with the coordination of examinations by State and Federal regulators.
- Assists with the gathering of information requested by the Bank’s independent external auditors.
- Maintains the Related Party List, updates and distributes the list on a quarterly basis, and assists in identifying related party transactions each quarter.
- Supports the Risk Management Department’s management of the Bank’s insurance program.
- Supports the Risk Management Department’s subpoena processing responsibilities.
- Bachelor’s degree in a business discipline (Accounting or Finance preferred); and
- Three to five years of related bank and operational risk analysis or related experience and/or training; or
- Equivalent combination of education and experience.