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POSITION: OPERATIONAL RISK COORDINATOR

Summary:

The Operational Risk Coordinator is responsible for assisting in the development and implementation of the policies, procedures, programs and framework for operational risk management, including third party risk management and business continuity.  Assist the Operational Risk Analyst with administering the Bank’s vendor management program, facilitating enterprise-wide vendor risk assessment(s) and continuously monitoring risk across the company.  Assist with the organization of business continuity tasks and exercises, and with data quality assurance across program management platforms. Serve as an advisor to business system owners in the area of vendor management and third-party risk, working closely with the Legal and Compliance departments. Communicate unacceptable risk exposure to Risk colleagues.

 Key Result Areas:  

§  Assist with maintaining a bank-wide vendor management program by partnering with relationship owners and the Legal department to ensure the bank’s third-party selection and management processes are consistently followed by completing due diligence for both current and prospective vendors

§  Promote and practice strong collaboration with all business units in the areas of vendor risk management and business continuity from an implementation, assessment and training perspective while managing workload to ensure all deliverables are met on a timely and quality basis, according to Bank standards

§  Analyze vendor relationship details and assist in facilitating risk assessments to arrive at appropriate risk ratings

§  Partner with Risk and IT colleagues to prepare analyses of the adequacy of control measures in place for high-risk vendors by reviewing SSAE 18 (SOC I and SOC II) audit reports or equivalent supporting documentation 

§  Provide analysis and reporting on areas including program compliance, vendor/product profiles, high-risk activities, etc. while assisting with the preparation of reports to present the overall status of the vendor management and business continuity programs to the Information Security Committee and other committees as deemed necessary 

§  Collaborate with business units to document processes and controls supporting User Control Considerations requirements for high-risk vendors 

§  Partner with the Bank’s credit department to prepare and review credit analysis of high-risk vendors’ financial statements

§  Assist with the organization of meeting materials and recording of meeting minutes to support the Information Security Committee and/or other committees as necessary while also contributing to projects and initiatives across the organization

§  Maintain a high level of knowledge through training, participation in outside seminars and from professional publications and groups to ensure compliance with FDIC laws and regulations; applicable state laws; and such other laws and regulations as may be imposed on the Bank

§  Perform additional duties as required

Qualifications: 

§  Bachelor’s Degree in Business Administration, Finance, Computer Science, Information Systems, related field, or 4+ years work experience

§  2-3 years’ experience in banking, vendor management, or related business field

§  Strong analytical, organizational, and decision-making skills

§  Strong verbal and written communications. Must be able to interface and coordinate work efficiently and effectively with business partners in remote locations

§  Strong administrative skills, with effectiveness in developing tasks and managing resources to achieve target dates

§  Must be a leader and a productive team player

§  Strong PC skills (Microsoft Office, Word, Excel, and PowerPoint)

The above description covers the most significant responsibilities but does not exclude other occasional responsibilities and accountabilities, the inclusion of which would be in conformity with the major purpose of this job. 

Location:      

Waltham, Massachusetts 

About Cambridge Savings Bank: 

Cambridge Savings Bank is a full-service financial institution with approximately $5 billion in assets that is committed to improving the quality of life in the communities it serves. One of the oldest and largest community banks in Massachusetts, Cambridge Savings Bank offers a full line of individual and business banking services and has branches located in Arlington, Bedford, Belmont, Burlington, Cambridge, Charlestown, Concord, Lexington, Melrose, Newton, and Watertown.

Cambridge Savings Bank is an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability status, protected veteran status, or any other characteristic protected by law. We are a VEVRAA Federal Contractor.