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Associate Director of Operational Risk

3 months ago


Boston, United States Cambridge Associates Full time

CAREERS THAT CHANGE THE WORLD

OUR CULTURE

Cambridge Associates believes culture is central to your success and ours.

We believe in a vibrant, values-driven culture that is supportive, inclusive, and diverse. Here, we celebrate the individual while we support global connectivity. At CA, collaboration wins, kindness matters, and your success is our priority.

o We foster an inclusive and diverse environment that enables all individuals to engage and bring their full selves to work.

OUR CLIENTS

Cambridge Associates believes our clients come first.

Our clients are the most compelling endowments, foundations, pensions, private clients and institutional investors around the globe. We lock arms with them to meet and exceed their investment objectives, so they can change the world.

OUR PEOPLE

Cambridge Associatesbelieves we do our best when you do your best.

At CA, we are only as successful as you are. We actively recruit and invest in the most dynamic and diverse talent and then empower you to succeed. By leveraging your unique skills, developing your individual career goals, and building a collaborative global community of connected, diverse individuals, we build a community that is stronger together.

But enough about us. Tell us about YOU

o Are you a bold individual seeking an opportunity to contribute to a value-based, collaborative environment in some of the most exciting cities around the globe?

o Are you eager to work for an organization committed to diversity, inclusion, sustainability, and Corporate Social Responsibility?

o Do you strive to work in an environment that encourages innovation and teamwork?

o Are you a thought leader who cares about making a difference in the world while contributing to an amazing culture?

o Do you value a challenging professional opportunity where you can leverage your skills, gain a valuable foundational in finance and investment, and build a long-term career development plan?

o Are you seeking a competitive salary a robust and comprehensive benefits program, and a variety of attractive benefits and perks?

THE OPPORTUNITY

Cambridge Associates has been at the forefront of innovative investment portfolio strategies for over 50 years. Headquartered in Boston and with offices across the world, CA provides investment management services to clients around the globe. We are currently seeking an Associate Director to join our newly formed Operational Risk team. The Operational Risk function at CA is serves as the first line of defense for the Chief Operating Officer (COO) through a dual-focused mandate: Process and Controls Re-engineering; and Control Assurance and Audit Management. As the Associate Director of Operational Risk, you will assume a pivotal role in identifying, evaluating, and mitigating operational risks inherent in our middle and back-office operations. Working in tandem with stakeholders across our global organization, your responsibilities will encompass documenting critical processes, risks, and controls, as well as crafting process flow diagrams and associated procedural documentation. Your mandate will extend to proactively enhancing processes and controls, with a keen eye towards automation and process efficiency. Furthermore, you will collaborate closely with our counterparts in the second and third lines of defense, alongside our external auditors, to facilitate the gathering and organization of audit-related inquiries. The Associate Director of Operational Risk will report to the Head of Operational Risk.

RESPONSIBILITIES

  • Risk Identification, Documentation, and Assessment: Identify and assess operational risks associated with the firm's activities, processes, controls and systems. As required, conduct risk assessments to evaluate the likelihood and potential impact of identified risks.
  • Risk Mitigation and Process/Control Enhancement: Through partnership with business unit leaders, develop and implement risk mitigation strategies, and enhance processes and controls to address identified operational risks.
  • Policy and Procedure Development: Assist in the development and maintenance of operational risk policies, procedures, and guidelines in accordance with firm standards. Manage policy changes, in partnership with relevant stakeholders, through the appropriate change management and governance processes.
  • Risk Reporting and Communication: Assist the Head of Operational Risk with the preparation of regular reporting on operational risk exposure, incidents, and control effectiveness.
  • Control Assurance & Audit Management: Conduct reviews and evaluations of existing controls to ensure operating effectiveness and efficiency, in accordance with firm guidance and applicable methodologies. Act as a liaison between our business owners and auditors; ensuring timely delivery of required documentation; and as required, raise potential audit matters to the Head of Operational Risk.
  • Training and Awareness: Assist in the development of training programs to increase awareness of operational risks and promote a culture of risk management across the organization. Provide ongoing support and guidance to employees on risk-related matters. Remain current with respect to industry trends and regulatory developments to proactively identify emerging risks.


QUALIFICATIONS
  • Minimum of 3-5 years' of experience in risk management, emphasizing business process control, process re-engineering, or controls auditing within the asset management industry. Prior experience providing process and controls assurance or consulting at a leading global accounting firm is preferred, but not required.
  • Bachelor's in accounting, Finance, or related discipline. Advanced degrees or relevant certification (e.g., FRM, PMP, CIA, CPA, RIMS-CRMP) is preferred but not required.
  • Proficient understanding of financial markets, alternative and private investment products and related operational processes.
  • Excellent analytical skills with the ability to identify, assess, and prioritize risks effectively.
  • Proficient understanding audit requirements (e.g., SSAE No. 18 or ISAE 3402) and industry best practices related to operational risk management, and controls and process design.
  • Proven ability to collaborate effectively with cross-functional teams.
  • Detail-oriented with a commitment to maintaining high standards of quality and integrity.
  • Proficient understanding of Microsoft Office, inclusive of Visio.
  • Proficient understanding of (or willingness to learn) Lucid Charts, and IBM® OpenPages.
  • Exceptional communication and presentation skills, with the ability to convey complex information clearly and concisely.
  • Skillful in managing multiple projects, reprioritizing as necessary, elevating key decisions as appropriate.
  • Able to work independently and collaboratively.
  • Minimal travel maybe required (