Theharborbank
Operational Risk Officer
Theharborbank, Baltimore, Maryland, United States, 21276
TitleOperational Risk OfficerDepartmentCredit AdministrationReports ToChief Credit & Risk OfficerStatusExemptI. SummaryThe Operational Risk officer has a duty to the Harbor Bank of Maryland to work with management and staff to identify and manage operational risk. Their objective is to limit, mitigate and remediate operational risk, the uncertainties and hazards the Harbor Bank of Maryland faces when it attempts to do its day-to-day business activities within a given business unit. The Operational Risk Officer will also be responsible for handling all aspects of vendor risk management at the Bank. Areas of responsibility include contract review, vendor onboarding and coordinating with business lines to ensure ongoing vendor due diligence in accordance with company policy and guidelines.II. Role And Responsibilities – Operational Risk Officer
Provide oversight and implementation of reporting risk activities as per guideline across business unit operations.Implement and manage the Bank’s Third-Party Risk Management (TPRM) program, including being aware of all risk exposure the Bank has, and the management of policies and procedures associated with TPRM.Conduct business impact analysis summaries to quantify risk exposure for prospective, new and/or critical vendors in accordance with TPRM and vendor management framework.Oversee the Bank’s vendor management program and collaborate with Compliance and Risk to assess and understand vendor risk and develop a comprehensive vendor management program.Coordinate with business lines to assist with operational risk management practices and reporting (including risk assessments, vendor due diligence, etc.), in accordance with HBM policies, and to implement mitigation strategies where required.Work closely with business lines to review and identify contract issues and work with Bank counsel to interpret, recommend, draft, and negotiate contractual terms and conditions.Work with business lines to identify and assess risks associated with various types of changes, including documentation changes, IT changes, and new or changed products and services.Enhance continuous monitoring protocols and reporting, leveraging automated tools and technologies.Perform analytics on consumer complaint data to identify trends and report for review.Perform analysis of aggregate data to identify trends and assess the effectiveness of issue management and corrective actions.Assist with periodic monitoring of key risk indicators to identify risk exposures across the organization and prepare reports for review by Senior Management and the Board regarding trends and areas of increasing risk.Assist with the preparation of reports and meeting agenda and gathering of meeting materials for scheduled Risk Management Committee meetings.Monitor for regulatory changes and notify potentially affected areas.Perform additional duties as assigned or required.III. Role And Responsibilities – CRA OfficerThe CRA officer's primary goal is to ensure that the Bank maintains compliance with the intent of the Community Reinvestment Act (CRA) so that the goals of meeting the credit needs of the communities the Bank serves, including low- and moderate-income neighborhoods, are met.Review and maintain an appropriate CRA statement.Maintain knowledge of current CRA compliance requirements, monitor for emerging CRA issues and regulatory updates, and notify management of any changes.Create, update, and maintain continuous records of CRA qualified products delivered, loans originated, and services provided within the Bank’s CRA assessment area.Maintain an ongoing monitoring program which will provide management and the Board with timely reports and information about the Bank’s CRA compliance and performance and suggest ways to improve performance.Maintain the Bank’s CRA public file as required by the Community Reinvestment Act.Coordinate with federal and/or state regulatory agency examiners during CRA examinations. Furnish examiners with requested information. Coordinate with the internal and independent auditors to ensure that compliance issues are adequately addressed where appropriate.Conduct or oversee all necessary training to assure Bank compliance with CRA policies and regulations.Perform additional CRA related tasks as assigned or required.Skills And Requirements
Bachelor’s degree and five or more years of working experience professionally in any related field preferred, (i.e., Operational Risk, Independent Risk officer, Strategy Risk, Branch Administration, and/or CRA), in financial services.Well-developed oral and written communication skills to effectively work well with colleagues, and stakeholders.Strong analytical skills, paying careful and particular attention to detail, and possessing an investigative mindset.Comply with all federal and state regulations and rules impacting this position, meet all risk and compliance obligations, including the completion of required training.Having a deep and sound knowledge of regulatory policies, banking laws and Bank policies, CRA regulatory compliance and procedures that pertain to day-to-day job responsibilities.Diligence and perseverance are also required and a willingness to see an issue through resolution.Compliance and/or regulatory certifications or designations are strongly preferred, (i.e., CERP, CAMS-RM, CRCM, ORMC, CCBCO, CAMS, CCPO or CCP, as applicable).
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Provide oversight and implementation of reporting risk activities as per guideline across business unit operations.Implement and manage the Bank’s Third-Party Risk Management (TPRM) program, including being aware of all risk exposure the Bank has, and the management of policies and procedures associated with TPRM.Conduct business impact analysis summaries to quantify risk exposure for prospective, new and/or critical vendors in accordance with TPRM and vendor management framework.Oversee the Bank’s vendor management program and collaborate with Compliance and Risk to assess and understand vendor risk and develop a comprehensive vendor management program.Coordinate with business lines to assist with operational risk management practices and reporting (including risk assessments, vendor due diligence, etc.), in accordance with HBM policies, and to implement mitigation strategies where required.Work closely with business lines to review and identify contract issues and work with Bank counsel to interpret, recommend, draft, and negotiate contractual terms and conditions.Work with business lines to identify and assess risks associated with various types of changes, including documentation changes, IT changes, and new or changed products and services.Enhance continuous monitoring protocols and reporting, leveraging automated tools and technologies.Perform analytics on consumer complaint data to identify trends and report for review.Perform analysis of aggregate data to identify trends and assess the effectiveness of issue management and corrective actions.Assist with periodic monitoring of key risk indicators to identify risk exposures across the organization and prepare reports for review by Senior Management and the Board regarding trends and areas of increasing risk.Assist with the preparation of reports and meeting agenda and gathering of meeting materials for scheduled Risk Management Committee meetings.Monitor for regulatory changes and notify potentially affected areas.Perform additional duties as assigned or required.III. Role And Responsibilities – CRA OfficerThe CRA officer's primary goal is to ensure that the Bank maintains compliance with the intent of the Community Reinvestment Act (CRA) so that the goals of meeting the credit needs of the communities the Bank serves, including low- and moderate-income neighborhoods, are met.Review and maintain an appropriate CRA statement.Maintain knowledge of current CRA compliance requirements, monitor for emerging CRA issues and regulatory updates, and notify management of any changes.Create, update, and maintain continuous records of CRA qualified products delivered, loans originated, and services provided within the Bank’s CRA assessment area.Maintain an ongoing monitoring program which will provide management and the Board with timely reports and information about the Bank’s CRA compliance and performance and suggest ways to improve performance.Maintain the Bank’s CRA public file as required by the Community Reinvestment Act.Coordinate with federal and/or state regulatory agency examiners during CRA examinations. Furnish examiners with requested information. Coordinate with the internal and independent auditors to ensure that compliance issues are adequately addressed where appropriate.Conduct or oversee all necessary training to assure Bank compliance with CRA policies and regulations.Perform additional CRA related tasks as assigned or required.Skills And Requirements
Bachelor’s degree and five or more years of working experience professionally in any related field preferred, (i.e., Operational Risk, Independent Risk officer, Strategy Risk, Branch Administration, and/or CRA), in financial services.Well-developed oral and written communication skills to effectively work well with colleagues, and stakeholders.Strong analytical skills, paying careful and particular attention to detail, and possessing an investigative mindset.Comply with all federal and state regulations and rules impacting this position, meet all risk and compliance obligations, including the completion of required training.Having a deep and sound knowledge of regulatory policies, banking laws and Bank policies, CRA regulatory compliance and procedures that pertain to day-to-day job responsibilities.Diligence and perseverance are also required and a willingness to see an issue through resolution.Compliance and/or regulatory certifications or designations are strongly preferred, (i.e., CERP, CAMS-RM, CRCM, ORMC, CCBCO, CAMS, CCPO or CCP, as applicable).
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