Operational Risk Manager

Victorian Managed Insurance Authority; City of Melbourne; Hybrid; AUD 180,000 - 190,000; Full time

Benefits offered by this job

Flex work

Parental leave support

Learning & Development

Wellbeing programs

Culture & lifestyle

Diversity & inclusion

Job summary

Victorian Managed Insurance Authority (VMIA) is seeking an experienced Operational Risk Manager for a 12-month contract. You will lead the Line 2 risk program, advise Line 1 and coordinate risk reviews, reporting and capability-building across the organisation.

You will oversee risk frameworks, incident management and business continuity, supporting executive and Board risk reporting while fostering a culture of accountability and proactive risk management.

Qualifications

• Eight to ten years of experience in senior Line 1 or Line 2 operational risk management
• Strong knowledge of operational risk frameworks, risk appetite, controls, treatments and assurance practices
• Experience leading operational risk workshops, reviews and capability-building sessions
• Excellent leadership and relationship-management skills with executives and senior leaders
• Highly developed presentation, facilitation and written communication skills
• Strong PowerPoint skills and experience preparing executive briefs and committee papers
• Analytical and project management skills with ability to manage multiple priorities
• Experience in incident management, business continuity or internal audit is desirable
• Experience in APRA-regulated organisations or major public-sector frameworks is desirable
• Accreditation in risk management or equivalent qualification

Responsibilities

• Lead VMIA’s Line 2 operational risk program including risk reviews, control assessments and reporting
• Establish and implement the Operational Risk Maturity Model and Accountability Framework
• Coordinate quarterly operational risk identification, assessment and reporting across Line 1
• Develop VMIA’s operational risk profile and integrate risk appetite into decisions
• Monitor operational risks, controls and treatments in VMIA’s risk system
• Oversee incident reviews and post-incident analyses of operational risks
• Deliver workshops to strengthen Line 1 risk, control and treatment management
• Support executive and Board risk reporting and internal audit actions
• Support business continuity, crisis and incident management frameworks and testing
• Promote accountability, transparency and proactive risk awareness

Skills

Executive leadership

Stakeholder engagement

Risk management

Communication

Facilitation

Presentation skills

Project management

Analytical skills

Education

Risk management accreditation

Relevant tertiary qualification

Tools

PowerPoint

Job description

Victorian Managed Insurance Authority (VMIA)

Job Title – Operational Risk Manager

Work Type – 12 month contract

Key highlights

• Salary Range – $180,000 - $ 190,000 (total remuneration package inclusive of super).
• Hybrid work environment – Enjoy a mix of office and flexible work arrangements, fostering connection and strengthening networks. The majority of your working week will be in our collaborative office environment.

About the role

As the VMIA’s Operational Risk Manager you’ll be a key member of the Enterprise Risk Division to support the Chief Risk Officer and you will lead the Line 2 operational risk support as a trusted adviser and business partner for Line 1, coordinate and deliver the line 2 operational risk management functions, advice, obligations, objectives, and actions, analysis and reporting. You’ll engage with Line 1 staff from all Divisions and lead Line 2 operational risk reviews and support Line 1 to build capability to identify, assess and manage operational risks, controls and treatment plans and report and elevate risks as per VMIA’s Risk Management Policy.

You’ll have responsibility to provide independent specialist Line 2 support through oversight and challenge of Line 1 operational risk management practices and activities, adhering to the relevant Prudential Standards, Legislation and VMIA’s Risk Management Framework and Risk Appetite Statement.

Key responsibilities

• Lead VMIA’s Line 2 operational risk program, including risk reviews, control assessments, reporting and capability-building activities.
• Establish and implement the Operational Risk Maturity Model and Accountability Framework Risk Champion Model.
• Coordinate quarterly operational risk identification, assessment and reporting activities across Line 1.
• Develop VMIA’s operational risk profile and integrate risk appetite into business decision-making.
• Monitor operational risks, controls and treatments through VMIA’s risk management system.
• Assess incidents and oversee post-incident reviews of operational risks and controls.
• Deliver workshops and guidance to strengthen Line 1 capability in risk, control and treatment management.
• Support executive and Board Committee risk reporting, internal audit actions and enterprise risk initiatives.
• Support VMIA’s business continuity, crisis and incident management frameworks, testing exercises and improvement actions.
• Promote a strong culture of accountability, transparency and proactive risk awareness.

What we are looking for

• At least eight to ten years’ experience in a senior Line 1 or Line 2 operational risk management role, including control management or a closely related field.
• Strong knowledge of operational risk frameworks, risk appetite, controls, treatments and assurance practices.
• Experience leading operational risk workshops, reviews and capability-building sessions.
• Excellent leadership and relationship-management skills, with the confidence to advise and constructively challenge executives and senior leaders.
• Highly developed presentation, facilitation and written communication skills.
• Strong PowerPoint skills and experience preparing professional, executive-ready presentations, briefs and committee papers.
• Well-developed analytical and project management skills, including the ability to identify insights and deliver against plans.
• Demonstrated ability to manage multiple priorities and communicate progress and outcomes clearly.
• Experience in incident management, business continuity management or internal audit is highly desirable.
• Experience within an APRA-regulated organisation, or working with legislative and regulatory frameworks in a major public-sector organisation, is highly desirable.
• Accreditation in risk management from a recognised professional body, a relevant tertiary qualification, or another relevant business or audit qualification.

At VMIA, we believe diversity drives innovation. We are committed to creating an inclusive environment where everyone feels valued and empowered to contribute their unique perspectives.

We offer:

• Flex work: Hybrid working to support your best performance.
• Parenting support: Generous parental leave (16 weeks paid parental leave after six months of service for primary carers and 4 weeks for secondary carers).
• Learning & Development: Annual investment ($2,500) in your growth, with in-house training, and LinkedIn Learning access in addition.
• Wellbeing: Wellness sessions, Employee Assistance Program (EAP), and ergonomic support.
• Culture & Lifestyle: Iconic office location, volunteer leave and life-stage support.
• VMIA encourages applications from candidates of all backgrounds, including Aboriginal and Torres Strait Islander peoples, individuals with disabilities, culturally diverse communities, and members of the LGBTQIA+ community.

At VMIA, we are dedicated to fostering an inclusive workplace. We warmly welcome applications from people of all gender identities, Aboriginal and Torres Strait Islander peoples, individuals with disabilities, and those from culturally diverse backgrounds.

Salary Information

At VMIA, we offer competitive salaries based on the role's classification and your skills and experience. Typically, new employees start at the minimum of the salary range, however, consideration may be given to starting above the minimum of the band should you demonstrate extensive experience in a similar role or possess unique and desirable skills and capabilities required to perform the role.

Other relevant information

Before starting at VMIA, preferred candidates will complete pre-employment screenings. These assessments may include:

• Working Eligibility: Verification of your right to work in Australia.
• Employment History: Confirmation of your past employment details including employment dates and compensation.
• Academic Credentials: Verification of your educational qualifications to ensure they are accurate and legitimate.
• National Criminal History Check: A check for any criminal record, which may involve manual vetting by ACIC, potentially causing delays.
• Pre-employment Misconduct Check: Used to verify the identity, integrity, and credentials of potential employees and verifies no past misconduct.
• Financial Background Checks: Applicable for certain roles, such as Heads of Departments and Finance team members.

We value a collaborative work environment, so employees are expected to spend the majority of your working week in the office. Candidates from interstate must be willing to relocate to Victoria.