Operational Risk Manager

Madison, Wisconsin
Competitive pay
08 Jun 2021
08 Jul 2021
Job Function
Risk Management
Industry Sector
CFA Charterholder
Employment Type
Full Time


Making a Difference

SWIB is a trusted and skilled global investment organization managing the assets of the Wisconsin Retirement System (WRS) and other separately managed funds. With over $140 billion in total assets under management, SWIB has been recognized by the investment industry for its teamwork and innovation that help make it a premier asset manager. Sophisticated investment management strategies, forward-looking technologies, and strong internal asset management make SWIB a leading investment organization

For public employees in Wisconsin, SWIB is a unique and valuable partner. Investing for the financial security of more than 652,000 individuals – and for the 1,500 Wisconsin employers who contribute on behalf of their employees – SWIB’s strong management of the WRS has helped fuel one of only a few fully funded public pension funds in the country. SWIB’s long-term investment returns meet the challenges of a constantly evolving investment landscape while helping grow and protect the assets of the WRS, the 8th largest public pension fund in the U.S. and the 25th largest public or private pension fund in the world. 

We are a mission-driven organization and the participants we serve are our mission. By bringing a disciplined, prudent, and innovative approach to market opportunities, SWIB has been successful in generating respectable returns and maintaining the trust of the beneficiaries and stakeholders of the funds we oversee.



Home to Top Talent

SWIB is recognized as a premier investment manager because of the highly qualified staff successfully managing the assets of the WRS trust funds. SWIB is committed to investing in talented professionals that will help implement a robust and sophisticated investment strategy to manage over half of the trust fund assets internally and keep the organization at the forefront of the investment industry. As an innovative organization, SWIB offers professional development opportunities to help staff sharpen and expand their skills. Approximately 61 percent of SWIB’s investment professionals are Chartered Financial Analyst (CFA) charterholders.


About the Team

Our Risk Management Division will assess, evaluate, and monitor both Investment Risk and Enterprise Risk, and establish dashboards of key risk metrics to guide our Executive Director/Chief Investment Officer (ED/CIO).  This division will report directly to our ED/CIO and will initially be comprised of a team of four individuals, including the Head of Risk Management.  The team is responsible, through strong collaboration, for assessing, monitoring, and evaluating risks throughout the organization.                                         


Position Overview

SWIB’s Operational Risk Manager, reporting to the Head of Risk Management, will be responsible for SWIB’s adherence to the Basel Committee on Banking Supervision (“BCBS”) Principles for the Sound

Management of Operational Risk and Principles for Operational Resiliency. In addition, ORM will ensure that existing risk management frameworks, risk appetite, business continuity plans, recovery, and resolution planning framework, information and communication technology, and third-party risk management are implemented consistently across the organization within the three lines of defense and in accordance with BCBS and the Financial Stability Board (“FSB”) principles and guidelines. This individual along with business management will ensure that effective risk management is embedded in day-to-day service operations and reflected in SWIB’s overall risk tolerance/appetite and will be responsible for proactive management of operational risk.  This role will work cross-functionally across SWIB and will need to be effective at objectively influencing outcomes and partnering in a consultative fashion.

Essential activities:

  • Contribute to SWIB’s enterprise adherence to the BCBS and FSB principles and frameworks.
  • Participate in the development and implementation of Risk Control and Self Assessment (“RCSA”) processes, routines, tooling, and reporting necessary to establish an effective operational risk oversight program.
  • Work cross-functionally with multiple lines of defense partners and stakeholders in activities that overlap to leverage resources when needed and drive consistent and coordination action to an end-to-end view of Operational Risk Management (“ORM.”) and establish consistent Key Risk indicators (“KRIs”) and risk registers.
  • Track, monitor, and report on KRIs and Loss Data Events.
  • Identify appropriate control monitoring and assurance framework which is consistent with the ORM framework.
  • Contribute to the production of results/findings/certifications/reports of independent ORM oversight and deliver results to SWIB leadership.
  • Maintain awareness of market best practices and regulatory requirements for financial institutions regarding operational risk and business resliency.
  • Develop and administer learning and development opportunities in operational risk management for key stakeholders within SWIB.
  • Partner with the Wisconsin Department of Administration to ensure SWIB’s adherence with state business contnuity requirements.

The ideal candidate:

  • Advanced degree in business or a quantitative field.
  • Professional designations preferred e.g., CFA, FRM, and/or CPA.
  • Five years of experience in operational risk management, audit, or compliance in the financial services industry with investment management industry experience strongly preferred.
  • Minimum of three years’ experience managing people is preferred to build high-performing collaborations, resolve conflict, and provide feedback.
  • Excellent analytical skills, decision-making skills, supervisory skills, organizational skills,

interpersonal skills, and communication skills.

  • Demonstrated capability to apply risk management concepts, analysis, and support to strategic decision-making processes.
  • Strong data management and presentations skills (Excel and PowerPoint skills).

SWIB Offers:

  • Competitive McLagan-based total cash compensation
  • A comprehensive benefit package
  • Educational and training opportunities
  • Tuition reimbursement
  • Challenging work in a professional environment

The position requires U.S. work authorization and residency in, or willingness to relocate to the Madison, Wisconsin area. SWIB is prepared to offer relocation assistance as needed.

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