Operational Risk Analyst EDGE Program - Red Bank, NJ

ABOUT YOUR ROLE

Entry level position as part of OceanFirst's EDGE Program. Expectation is that employee will become a well-rounded banking professional by working in several departments within the bank to gain an understanding of commercial credit, retail banking, customer care, treasury management, and other departments critical to the operations of OceanFirst Bank.

Primary and permanent position will be in the bank's Risk Management Department where the employee will be trained as an Operational Risk Analyst.

The primary responsibility of this position is to support the assessment and oversight of operational risk to enhance the Bank's processes, limit non-credit losses and improve business outcomes. This includes development of systems and processes to identify key risks at a business unit level as well as aggregate accurate and comprehensive operational risk data and monitoring compliance with the Statement of Risk Appetite.

WHAT YOU WILL DO

1. Assist Operational Risk Officer and IT Operational Risk Manager with execution of the operational risk program.
2. Assist with documentation of bank-wide processes and implementation of a risk control self-assessment framework that can assess inherent and residual risks of in-scope front-to-back processes at the aggregated bank and branch levels.
3. Track and categorize operational risk events and losses; conduct deep dives on significant events to assure root causes have been identified and mitigation applied at bank-wide level where appropriate. Provide remediation guidance and prepare reports to track remediation activities.
4. Monitor and test operational risk controls to verify effectiveness of design and execution.
5. Develop and track quantitative measures to improve monitoring of existing operational risk to stated tolerance and to identify emerging operational risk trends.
6. Assist Operational Risk Management team with monthly and quarterly risk reporting. Develop monthly and quarterly operational risk reports appropriate for business units, management, and the board.
1. Support vendor management function including assisting with vendor assessments, coordinating vendor activities associated with acquisitions, and facilitating onboarding and/or sunsetting of vendors.
7. Assist with the project management of the enterprise-wide GRC..

WHAT WE EXPECT OF YOU
* Ability to interact effectively across the Bank with stakeholders at all levels with the added skill to challenge the status quo thereby becoming a change agent.
* Strong analytical and problem-solving skills.
* Demonstrated ability to work independently with limited direct supervision.
* Proficiency in Microsoft Office, in particular Excel, PowerPoint, and Visio preferred.
* Excellent verbal and written communication skills. Ability to effectively communicate with all levels of Bank staff, and management.
* Ability to learn and implement new tools to support the daily core activities.
* Effective time management skills to prioritize tasks.

YOUR QUALIFICATIONS
* Bachelor's degree in Business, Finance, Computer Science or equivalent fields is required.
* Demonstrated experience in an office environment. Preferable experience in banking or financial services fields with direct experience in Risk Management, IT Risk Management, and/or Audit.

INTERNAL AND EXTERNAL CONTACTS
* Internal contact with all levels of bank personnel and senior management
* External contact with Auditors and Regulators

WORKING CONDITIONS/PHYSICAL REQUIREMENTS
Office environment. Ability to operate computer. Ability to communicate in order to exchange simple to complex information with individuals and groups. Ability to travel throughout Bank footprint.