Risk Management Analyst (Hybrid)

Our Risk Management department is seeking a new Risk Management Analyst to join their team!
At OceanFirst Bank, each one of our employees plays an important role in fulfilling the mission and taking responsibility to execute daily tasks in alignment with our core values. Together we foster an environment of respect, professionalism and diversity that makes OceanFirst a great place to work and do business.
Great benefits include: on-site fitness facility, hybrid schedule after initial onboarding has been completed (3 days in office, 2 days remote), employee perks & discount programs, tuition assistance, incentive compensation program, and more! Apply today to #BecomeOceanFirst and make an impact in the local community!

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PRIMARY PURPOSE:*

Work with Risk Management Department staff to achieve departmental objectives regarding enterprise-wide risk management practices and other risk areas as needed. Provide support in evaluating inherent risk levels, assessing the quality of risk management systems, and monitoring corrective actions in a wide-ranging number of topics. Facilitate gathering, aggregating, evaluating, analyzing, and reporting of risk-related information for management and the Board of Directors. Provide support to Risk Management Department staff as they provide credible challenge to first line of defense management regarding risk identification, assessment, and compliance with the Board approved Statement of Risk Appetite. Assist in maturing various departmental functions through implementation and use of a Governance, Risk, and Control solution and enhanced management and Board reporting.

• *ESSENTIAL DUTIES AND RESPONSIBILITIES:

• Assist with risk assessment program administration, which involves working with the Enterprise Risk Officer to define the scope of risk assessments, conducting due diligence to select firms for outsourced risk assessments, coordinating information gathering and meeting requests, overseeing progress to ensure risk assessments are completed timely, reviewing final products and providing credible challenge.
• Conduct risk assessments by analyzing data to evaluate inherent risk and assess the adequacy of first line of defense risk management practices based on Bank standards, regulatory guidance, and industry best practices.
• Maintain the Risk Issue Tracker by obtaining appropriate action plans for risk issues, conducting and documenting periodic updates of outstanding issues, obtaining and reviewing supporting documentation to evidence issue remediation, and making recommendations regarding issue escalation or closure.
• Coordinate with Information Technology to prepare the monthly Risk Dashboard, which involves requesting and validating data provided by various business owners, compiling data, and maintaining records. Develop other risk reports, as needed.
• Conduct initial reviews of Risk Action Plans, Product/Service Risk Assessments, etc. to ensure they are properly formatted, clear/easy to read, and contain all required information. Maintain records. Assist in evaluating risk associated with new or modified business initiatives.
• Prepare meeting packages for the Enterprise Risk Management & Regulatory Compliance Committee and Risk Committee of the Board of Directors.
• Administer the Policy Management Program by reminding Policy Owners when policies are due to be reviewed; ensuring policies are properly formatted, clear/easy to read, and contain no errors; alerting Enterprise Risk Officer to any material policy changes; ensuring updated/approved policies are made available to Bank staff; and maintaining records.
• Monitor complaints, social media, and press to evaluate reputation risk.
• Assist with Risk Management initiatives and special projects/tasks, as needed.

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JOB SPECIFICATIONS:*
Knowledge, Skills & Abilities

• Proficiency in Microsoft Word and Excel are required. Must also be willing to learn other systems, tools, and applications.
• Demonstrated analytical skills. Ability to apply logical thinking to gather and analyze data, identify problems and propose solutions.
• Strong communication skills (written and verbal), to articulate and/or present information.
• An understanding of regulations governing the banking industry, as well as agency guidelines and organization policies, is ideal but having the capacity to interpret regulatory guidance is required.

• Proven ability to work in fast-paced environment and meet established deadlines, with limited direction and oversight.
• Strong interpersonal skills to interact with internal and external personnel, at all levels, to obtain and provide information.
• Strong organizational skills, initiative, and proven ability to prioritize and multi-task.

Experience & Education

• Bachelor’s degree with a concentration in Business Administration, Economics, Finance, or Data Science/Analytics.
• Minimum of 2-3 years related experience, preferably in banking and involving analytics.

Internal and External Contacts

• Internal contact with department managers and staff.

Working Conditions/Physical Requirements
Office environment. Ability to operate computer. Ability to communicate to exchange simple to complex information with individuals and groups. Ability to travel throughout Bank footprint.
Equal Opportunity Employer
OceanFirst is an equal opportunity employer. It is the Bank’s policy to grant Equal Employment Opportunity (EEO) to all qualified persons without regard to actual or perceived race, color, creed, religion, national origin, ancestry, citizenship status, age, sex or gender (including pregnancy, childbirth, lactation and related medical conditions), gender identity or expression (including transgender status), affectional or sexual orientation, marital status, familial status, civil union or domestic partnership (under applicable state law) status, veteran’s status or liability for service in the United States armed forces, disability (including AIDS and HIV infection), atypical hereditary cellular or blood trait, genetic information, or any other characteristic protected under applicable federal, state, or local law.

Job Type: Full-time

Pay: $66,000.00 - $91,000.00 per year

Benefits:

• 401(k)
• 401(k) matching
• Dental insurance
• Employee assistance program
• Employee discount
• Flexible schedule
• Flexible spending account
• Health insurance
• Health savings account
• Life insurance
• Paid time off
• Parental leave
• Professional development assistance
• Referral program
• Retirement plan
• Tuition reimbursement
• Vision insurance

Schedule:

• Monday to Friday

Supplemental pay types:

• Bonus pay

Work Location: Hybrid remote in Red Bank, NJ 07701