How would you like to join one of the most highly regarded financial institutions in New Jersey with deep roots in the community? Provident is a successful and highly regarded multi-billion dollar bank that continues to grow with branches in New Jersey, Eastern Pennsylvania and New York. Our longevity is a testament to our commitment to placing our employees, customers, and the communities we serve at the center of all we do. At Provident Bank, we are committed to enhancing our customer and employees’ experience.
POSITION SUMMARY
The Risk Analyst I is responsible for assisting the risk management department management with the conduct of the Enterprise Risk Management Program, providing staff support in guiding the organization through the complete lifecycle of the ERM process - risk identification, analysis, measurement, monitoring, and reporting. The Risk Analyst I will be responsible for assisting in identifying potential risks that may impact the Bank's overall strategy, business operations, or safety and soundness. Under the supervision of management (who may delegate project-based supervision to a more senior Risk Analyst), this position will assist with conducting and documenting risk assessment interviews, ensuring line of business partners are communicating key risks affecting their respective operations, as well as maintaining a centralized set of records that reflects various assessments and relevant metrics demonstrating the operations of the Bank’s risk management program.
MAJOR JOB RESPONSIBILITIES
- Supports the enterprise risk management effort by assisting management with the identification, evaluation, understanding, management, and communication of significant business risks, identifying gaps that may be present, and facilitating the creation and follow through on management action plans. This is completed most frequently through the performance of risk assessments, which involves analyzing risks as well as identifying, describing and estimating the risks affecting the business and its operations.
- Seeks to understand and report on the evolving nature of risks affecting the financial services industry, and the appropriate methods to centrally monitor those risks within the construct of an organization’s ERM program.
- Provides necessary risk register updates, related analysis, and tracking of key risk indicators used to monitor the Company’s exposure to its various enterprise-level risk dimensions, and prepares scheduled enterprise risk reporting requirements/presentations. Works with management as assigned to ensure complete, high-quality reporting for executive management, risk management committees, and the Risk Committee and/or the Board of Directors. Record minutes for management and board level committees.
- Maintains a working knowledge of state and federal laws and regulations affecting the risk management of financial institutions and all other jurisdictions affecting the operations of the Company.
- Develops and maintains a trusted, collaborative relationship with operational management to promote an appropriate level of engagement in risk activities with a high level of credibility for the ERM program. Uses interpersonal skills with an ability to partner effectively across all levels of the Company and develop positive and strong working relationships.
- Under the direction of their direct manager, provides recommendations to further promote awareness and affect positive change in the risk culture across the Company, while meeting the ERM objectives and alignment of the overall strategic goals.
SKILLS AND TRAINING
- Developing the traits of a conceptual thinker showing a building aptitude to analyze complex problems that include interrelationships and dependencies in order to identify common themes and solutions.
- Ability to manage multiple tasks, work in fast-paced environment, be results-oriented, and meet deadlines.
- The individual shows development into excellent communication skills, both written and verbal, to communicate. The individual excels in a fast-paced and constantly changing environment. The individual also looks to develop a working understanding of risk identification, assessment and mitigation techniques and approaches to enable success and effectiveness.
- Inquisitive nature, resourceful, energetic and positive outlook.
- Basic knowledge of banking regulations, enterprise risk management and internal control standards (e.g. COSO ERM framework).
EDUCATION
- BA/BS in Business Administration, Finance, Accounting, or related field preferred. Additional work experience may be considered.
WORK EXPERIENCE
- 1-3 years of professional experience in risk management, financial services, business consulting, financial planning and analysis, or other.
LICENSES AND/OR CERTIFICATES
WORKING CONDITIONS
Work is performed in a normal office environment. Noise levels are usually moderate.
HAZARDS
The hazards are mainly those present in a normal office setting.
This job description may not be all-inclusive. Employees are expected to perform other duties as assigned and directed by management. Job descriptions and duties may be modified when deemed appropriate by management.
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