Share this Job
Req ID:  4236

Chicago, IL, US, 60631

Operational Risk Manager

FT/PT:  Full-Time

First Midwest, with assets over $18 billion, is the premier relationship-based banking franchise in the dynamic Chicagoland banking market. As one of the Chicago metropolitan area's largest independent bank holding companies, First Midwest provides the full range of commercial, retail banking, and wealth management services through some 120+ offices located in communities in metropolitan Chicago, Northwest Indiana, Central and Western Illinois, and Eastern Iowa. 


The role is responsible for overseeing the Bank’s operational risk management program. This includes monitoring and assessing operational risk events and control issues, as well as reporting on operational and other key enterprise risks to management and board governance committees. This role is also responsible for the Bank’s policy governance process, SOX administration and activities associated with the Bank’s Enterprise Risk Management activities. This role reports to the Chief Compliance and Operational Risk Officer in the Risk Management Department.

  • Bachelor’s in accounting, finance, or related field
  • 7+ years of risk management or audit experience, preferably in financial services
  • Big 4 accounting firm experience preferred
  • 3-5 years of management experience
  • A strong understanding of Operational Risk and/or Enterprise Risk Management requirements and regulatory expectations
  • Excellent written communication skills, including ability to work with stakeholders to develop formal policies, document control environments/processes and enhancement opportunities
  • Results driven with proven ability to work independently and multi-task
  • Ability to lead, direct and guide stakeholders related to operational risk, internal control enhancements (technology enablement solutioning) and policy governance
  • Understanding of documentation standards and regulatory requirements, such as Federal Reserve Bank Supervisory Guidance 11-8; Ability to interpret and apply regulatory concepts to the tasks performed
  • Proficient in working across business lines. Identifying, engaging with, and driving accountability across areas of the company you will not have direct oversight of.
  • Excellent communication skills, collaboration skills, and ability to influence and problem solve
  • Able to work independently with limited guidance and direction
  • Proficient with Microsoft Suite of applications specifically Excel, PowerPoint, Word, Visio and SharePoint
  • A professional risk or accounting certification is preferred but not required (CERP, CPA, etc.)

Operational Risk Management

  • Periodically meet with business owners and other stakeholders to identify, document and assess operational controls
  • Maintain processes to capture operational loss events or "near misses" to facilitate root cause analysis and trend reporting
  • Track and monitor operational risk issues
  • Participate in the evaluation of new products and services
  • Collaborate with other risk subject matter experts (e.g. compliance)
  • Responsible for leading and executing the operational risk management program for the enterprise, including wholly owned subsidiaries and affiliates

SOX Administration

  • Manages overall activities related to the Bank’s compliance with the Sarbanes-Oxley Act ("SOX").
  • Develops and implements strategies for all activities relating to SOX compliance.
  • Manages daily operations in support of financial controls testing for SOX 404 compliance.
  • Reviews financial reporting, identifies process deficiencies and improvements, and reports test results to management and the SOX Steering Committee.
  • Stays abreast of changes in regulations to ensure the organization's timely compliance.
  • Serves as liaison between internal and external auditors.

Policy Governance

  • Manage the policy governance process and framework, including coordination of the policy governance library and document control
  • Provide advice to policy owners regarding policy development and implementation


  • This individual must establish strong working relationships with line of business and risk management personnel to accomplish key objectives noted above.
  • The role is expected to ultimately manage a direct team and indirect team (business line identified individuals) of operational risk professionals. Individual must have ability to manage, motive and guide staff.

Risk Reporting

  • Produce quarterly risk reports related to operational risk for management and board governance committees; produce ad hoc reports as requested by management.
  • Coordinate the development of all other enterprise risk reports by direct engagement with key stakeholders, including executive management.


Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities.
Please view Equal Employment Opportunity Posters provided by OFCCP here and Supplement here.