Financial Compliance & Operational Risk Analyst (TCM)
Description and Qualifications
Transamerica Life Insurance Company, an AEGON company, is a leader in the worldwide insurance industry for over 40 years. AEGON is an international pension, insurance and financial services organization. Transamerica is located in Cedar Rapids, Iowa, where approximately 4000 individuals are employed. It is here where AEGON USA is headquartered.
Responsible for the day-to-day execution of the operational risk and internal controls (ORIC) activities under the supervision of the Financial Compliance and Operational Risk Senior Analyst. Assists in reporting of ORIC program components to ensure requirements are satisfied on a timely basis. Develops and maintains relations with appropriate business unit management.
Primary Duties / Accountabilities
Operational Risk Management (ORM)
- Assist in performing risk self assessments to identify significant risk issues. This entails determining process objectives, working with the process owner(s) other specific subject matter experts to identify risks, identify the existing controls, rank the residual risk/exposure (based on likelihood and impact), and review and monitor the execution of action plans that are deemed appropriate to reduce the risk/exposure to an acceptable level. May facilitate or assist in RSA workshops.
- Assist in recording/monitoring the Operational Loss Database. This entails capturing financial and reputation losses across multiple locations and lines of business, and, under certain circumstances, assisting in root cause analysis, developing and monitoring action plans to mitigate/ eliminate a reoccurrence of the loss.
- Assist in implementation and monitoring of Key Risk Indicators ("KRIs"). This is accomplished through gathering an inventory of current metrics, determining the most significant risks that require monitoring, establishing KRIs for the most significant risks in each significant process, and gathering data so that reporting can be done on these KRIs.
- Assist in executing annual scenario analysis. Scenario analysis is the process of developing financial loss scenarios using expert opinions from business managers and risk managers. This process involves deriving reasoned assessments of the severity and frequency of each scenario thus enabling business improvements, better risk management and operational risk capital calculations.Internal Controls
- Conduct process walkthroughs and testing as part of managements evaluation of internal controls on an annual basis.
- Work with process owners to ensure business process documentation is up to date and complete. This includes coordination of annual process certifications. Investigate identified control deficiencies, assist in development of remediation plans and monitor progress of those plans.
- Provide audit assistance as needed.
Job ID: 14636
- Work with all levels of management across multiple locations and/or lines of business to execute the ORIC program in alignment with corporate standards and objectives.
- Assist in quarterly/periodic reporting for program components.
BA degree in related field (accounting, finance, risk management) or equivalent operational experience. 2-5 years of audit experience or equivalent required. Financial Risk Manger (FRM), Professional Risk Managers International Assoc. (PRMIA), Certified Internal Auditor (CIA), Certified Information Systems Auditor (CISA) or Certified Public Accountant (CPA) certification preferred.
Equal Employment Opportunity:
Transamerica Life Insurance Company is an equal opportunity employer. We will not discriminate unlawfully against qualified applicants or employees with respect to any term or condition of employment based on race, color, national origin, ancestry, sex, sexual orientation, gender, age, religion, physical or mental disability, medical condition, genetic characteristics, marital status, citizenship status, military service status, or any other basis protected by law.
When necessary, Transamerica Life Insurance Company will reasonably accommodate employees and applicants with disabilities if the person is otherwise qualified to safely perform all of the essential functions of the position.
Transamerica.com - 17 months ago