Director, Operational Risk - Strategic Investment

ABOUT STRATEGIC INVESTMENT:

The LISC Strategic Investments team leads the design, development, and deployment of impact investment funds in LISC’s local markets nationwide. Strategic Investments employs an “impact first” investment methodology that optimizes the impact on the communities we care about while achieving sustainable risk-adjusted returns for investors.

 

ABOUT THIS ROLE: 

As the Director of Operational Risk at our leading community development financial institution, you will play a crucial role in safeguarding our mission and assets while enabling responsible growth and impact. This position offers a unique opportunity to leverage your extensive risk management expertise in service of transformative community investments and social impact.

Leading our operational risk function, you will be the architect of a new comprehensive risk management strategy. Your keen analytical skills and strategic vision will be instrumental in identifying, assessing, and mitigating risks across our diverse operations, ensuring we maintain the delicate balance between financial sustainability and meaningful community impact.

 

RESPONSIBILITIES:

The following are an indication of the position’s core responsibilities; these are intended to illustrate the scope of responsibilities and are not exclusive of other duties that may be required.

 Risk Assessment and Management (30%)

• Lead comprehensive risk assessments across all business lines
• Develop and maintain the organization's risk matrix and risk register from ground up
• Identify, evaluate, and prioritize risks (low, medium, and high) across all functions
• Implement and oversee risk mitigation strategies and controls

Policy and Procedure Development (20%)

• Formulate, review, and update the organization's Risk Management Policy
• Collaborate with business lines to develop and maintain operational policies and procedures
• Ensure all policies and procedures align with regulatory requirements and industry best practices.
• Ensure business line operational policies and procedures are updated on a regular basis, and risk matrix is updated in alignment with operational changes.

Cross-functional Collaboration (25%)

• Work closely with all business lines in Strategic Investments, LISC ERM and Audit, and LISC IT teams
• Engage with all functions to understand specific risks and ensure appropriate controls are in place or risk acceptance is documented
• Coordinate with business units and technology areas to prioritize identified risks and implement controls
• Prepare periodic reports for the LFM Audit Committee and LFM Board of Directors
• Communicate clearly with function heads on prevailing risks and mitigation strategies
• Develop and present risk analytics and insights to senior leadership

Control Testing and Monitoring (10%)

• Oversee the development and execution of control testing and continuous assurance programs
• Analyze and document report findings and discuss with corresponding control/process owners
• Monitor the effectiveness of implemented controls and recommend improvements

General Operational Support (20%)

• Ability to step in and support across teams in general operational support in order to meet organizational goals
• Team-player who can self-direct in researching problems and recommending solutions in support of all teams
• Main point of contact for external audits, collaborating across teams to ensure timely and accurate responses to gather list

 

MINIMUM QUALIFICATIONS

• Minimum of 7 years of experience in operational risk management, preferably within CDFIs, fund management, investment banking, or financial services
• Deep understanding of operational risk management concepts, frameworks, and best practices in the context of impact investing and community development finance.
• Proven track record in developing and implementing comprehensive risk assessment methodologies, risk matrices, and risk registers.
• Strong experience in policy formulation and revision, particularly in areas of risk management and business continuity.
• Excellent analytical skills with the ability to identify, evaluate, and mitigate complex operational risks across multiple business functions.
• Excellent verbal and written communication skills, with the ability to prepare and present risk reports to senior leadership, board members, and external stakeholders.
• Experience in developing and overseeing control testing and continuous assurance programs.
• Proven ability to manage multiple high-priority projects simultaneously, meet deadlines, and work effectively under pressure.
• Familiarity with impact measurement frameworks and the ability to align risk management strategies with both financial performance and social impact goals.
• Advanced skills in Microsoft Excel, data visualization tools..
• Passion for economic development and community investment, with a commitment to the organization's mission and values in impact investing and closing the racial wealth gap.

 

PREFFERED QUALIFICATIONS

• Bachelor's degree in Finance, Economics, Business Administration, or a related field OR relevant related work experience
• Familiarity with fund management and risk management software reporting systems.
• Experience with Model Risk Management

 

COMPENSATION & BENEFITS:

LISC offers a competitive salary ($92,400 - $115,500 salary commensurate with experience and location) and excellent fringe benefits. This position is expected to travel less than once per month, up to 15% annually.

 

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Last updated on Aug 21, 2024