Operational Risk Officer

Our client – digital bank which focuses on consumer finance and savings products, building a cost-effective and flexible business model with technology-driven and automation. They are now seeking an Operational Risk Officer at our Vilnius headquarters.

ROLE OVERVIEW

The Operational Risk Officer is responsible for the independent oversight, identification, assessment, monitoring, and management of operational risk within the bank, ensuring alignment with the risk appetite. The role also includes responsibility for third-party (outsourcing) risk management. This position reports directly to the Chief Risk Officer.

YOUR RESPONSIBILITIES:

• Independently oversee and challenge first-line controls and ensure effective operational risk management practices across the Bank.
• Develop, implement, and maintain the operational risk management framework, including policies, procedures, and tools.
• Identify, assess, and monitor operational risks, ensuring they are properly recorded in the risk register and managed in line with the Bank's risk appetite.
• Facilitate Risk and Control Self-Assessments (RCSA), evaluate control effectiveness, and monitor implementation of risk mitigation actions.
• Ensure proper identification, recording, analysis, and reporting of operational risk events, including root cause analysis and maintenance of loss data.
• Prepare regular risk reports for Senior Management and the Board, escalating significant risks and control deficiencies where necessary.
• Provide insights and recommendations to strengthen internal controls and improve overall risk management.
• Establish and maintain the third-party risk management framework, including risk assessment, Performance risk indicators (PRI), due diligence, and ongoing monitoring of service providers.
• Maintain the outsourcing register, assess concentration risk, and ensure compliance with regulatory requirements related to outsourcing.
• Ensure compliance with applicable regulatory requirements (including EBA guidelines), and support regulatory reporting, inspections, and audits.
• Promote risk awareness across the Bank and provide training on operational and third-party risk topics.
• Collaborate closely with Risk, Compliance, IT, business units, and Internal Audit, acting as a key point of contact for operational risk matters.

REQUIREMENTS:

• At least 3 years of experience in operational risk, risk management, or a related function in the financial sector.
• Solid understanding of operational risk and third-party risk frameworks, internal controls, and regulatory expectations.
• Experience in RCSA processes, incident management, and risk monitoring.
• Strong analytical and problem-solving skills.
• Excellent cooperation and stakeholder management skills.
• Ability to work independently and communicate effectively across the organization.
• Good command of English and Lithuanian.

COMPANY OFFERS:

• Flexibility in the arrangement of your working time.
• Health insurance after the probation period.
• Competitive salary.
• Up to 5 extra vacation days depending on tenure.
• Modern office in the center of Vilnius, combined with remote work opportunities.
• Being part of an ambitious international team.
• Supportive environment and growth opportunities.

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4000-5000 €/mon. gross