Operational Risk Manager: Frameworks, Insight & Assurance

Commonwealth Bank; Sydney; On-site; AUD 110,000 - 150,000; Full time

Job summary

Commonwealth Bank is seeking an experienced Operational Risk Manager to support the Group Support Units and risk committees. You will help embed the Operational Risk Management Frameworks across the business and collaborate with Line 1 and Line 2 teams to ensure effective risk oversight.

The role focuses on identifying risks, monitoring controls, conducting deep dives, and delivering meaningful risk insights to senior management.

Qualifications

• Experience in operational risk management within banking or financial services, including risk frameworks, risk assessments, controls, issue management and incident management.
• Strong knowledge of operational risk frameworks, tools and methodologies, with the ability to provide sound risk advice, challenge stakeholders and influence risk-based decisions.
• Experience conducting risk monitoring, assurance and control testing activities, with the ability to translate findings into meaningful and sustainable risk improvements.
• A strong understanding of business processes, operational risks and internal controls within complex, highly regulated environments.
• Sound analytical capability, with the ability to interpret and analyse data, identify trends and emerging risk themes, and translate insights into actionable outcomes.
• A proactive, self-motivated approach, with a strong sense of accountability, ownership and commitment to delivering outcomes.
• Strong written and verbal communication skills, with the ability to tailor the level of detail and messaging to suit different audiences and stakeholders.
• A curious and inquisitive mindset, with a genuine interest in understanding how things work, challenging the status quo and identifying opportunities for improvement.
• A collaborative and outcomes-focused approach, with a commitment to delivering high-quality work and positive stakeholder outcomes.

Responsibilities

• Supporting risk management activities across Group Support Units, including assessment of risks, controls, issues and incidents.
• Providing a bigger picture view as to how risk activities support the business strategy.
• Applying industry and business knowledge to proactively identify and pursue meaningful risk activity.
• Performing deep dives and other reviews to provide assurance and an independent Line 2 opinion on risk management.
• Reporting on risk exposures for Non-Financial Risk Committees or other risk reporting as needed.
• Building strong working relationships with Group Support Units, Line 1 risk and business stakeholders.

Skills

Operational risk management

Stakeholder management

Analytical ability

Data interpretation

Risk frameworks

Control testing

Issue management

Incident management

Regulated environments

Job description

Commonwealth Bank is seeking an experienced Operational Risk Manager to support the Group Support Units and risk committees. You will help embed the Operational Risk Management Frameworks across the business and collaborate with Line 1 and Line 2 teams to ensure effective risk oversight.

The role focuses on identifying risks, monitoring controls, conducting deep dives, and delivering meaningful risk insights to senior management.