Operational Risk Senior Manager

Commonwealth Bank; Sydney; On-site; AUD 180,000 - 260,000; Full time

Job summary

Commonwealth Bank is seeking a Senior Manager, Operational Risk for a 12‑month secondment to lead the ORMF Oversight CoE and strengthen risk practices across the Group. You will translate frameworks into practical outcomes and embed a strong risk culture, partnering with senior stakeholders across the business.

The role focuses on developing guidance, influencing framework enhancements, coaching risk role holders and driving continuous improvement in operational risk management practices across

Qualifications

• Strong operational risk management experience and understanding of risk frameworks.
• Experience partnering with senior stakeholders to influence outcomes and drive change.
• Knowledge of regulatory expectations and the broader risk management environment.
• Experience developing policy, framework, governance or risk management practices.

Responsibilities

• Develop, maintain and implement Practice Guides and supporting guidance for key operational risk roles, demonstrating what effective risk management looks like in practice.
• Strengthen and simplify Group-wide operational risk practices to support improved risk outcomes and operational efficiency.
• Partner with operational risk stakeholders across the Three Lines of Accountability to provide challenge, advice and support.
• Contribute to the design, enhancement and continuous improvement of the ORMF and associated standards, including Risk and Control Self Assessment (RCSA), Control Assessment Program (CAP), Incident Management and Change Management Risk.

Skills

Operational risk management

Stakeholder influence

Regulatory knowledge

translating complex requirements

Education

Tertiary qualification in business, finance, risk management, law or related discipline

Job description

12 Month Secondment Opportunity

Join the Operational Risk Management Framework (ORMF) Oversight Centre of Excellence and help strengthen the way operational risk is managed across the Group. In this highly visible role, you will partner with senior stakeholders across the business to drive better risk outcomes, simplify risk practices and support informed decision-making. Working at the centre of the Group’s operational risk framework, you will influence how risk is understood, managed and embedded across a broad range of strategic initiatives and business activities.

Senior Manager, Operational Risk 12 Month Secondment Opportunity Shape how operational risk is managed across one of Australia's largest and most complex organisations. Join the Operational Risk Management Framework (ORMF) Oversight Centre of Excellence and help strengthen the way operational risk is managed across the Group. In this highly visible role, you will partner with senior stakeholders across the Group, helping translate risk frameworks into practical outcomes and supporting a strong risk culture throughout the organisation. No two days are the same. You may be developing practice guidance, influencing framework enhancements, coaching risk role holders, supporting strategic initiatives or driving continuous improvement across operational risk management practices.

If you enjoy solving complex problems, influencing stakeholders and turning framework requirements into practical, value-adding outcomes, we would like to hear from you.

About Risk Management Risk Management develops and deploys the frameworks that enable the Group to take considered exposures to credit, market, operational, compliance and insurance risks within Board-approved appetite. We support the Group to identify, assess, manage and report risk effectively, helping deliver safe, sustainable and positive customer outcomes.

About The Team The Operational Risk Management Framework Oversight Centre of Excellence (ORMF Oversight CoE) exists to optimise operational risk management across the Group. The team partners with businesses, Line 1 Risk and Line 2 Risk and Compliance teams to provide oversight, guidance, training, insights and tools that support effective risk management. We are focused on helping the Group anticipate risk, make informed decisions and continuously improve risk practices while maintaining an effective and fit-for-purpose Operational Risk Management Framework.

Why This Role? This is an opportunity to influence operational risk practices at an enterprise level. You will work closely with senior stakeholders across the Group, helping translate risk frameworks into practical outcomes and supporting a strong risk culture throughout the organisation. No two days are the same. You may be developing practice guidance, influencing framework enhancements, coaching risk role holders, supporting strategic initiatives or driving continuous improvement across operational risk management practices.

Your Impact & Contribution

• Partner with Line 2 BU/SU Operational Risk teams to strengthen and optimise operational risk management practices across the Group.
• Support the ongoing development and maintenance of an effective Operational Risk Management Framework.
• Provide practical, commercial and value-adding advice that supports strategic business objectives.
• Build trusted relationships across Business, Line 1 Risk, Line 2 Operational Risk and Compliance teams.
• Help drive consistency in how operational risk is managed and embedded across the organisation.
• Develop communications, reporting and guidance tailored to senior leadership audiences.
• Coach and support Business Profile Owners, Risk Owners and Control Owners in meeting their risk management obligations.

Key Responsibilities

• Develop, maintain and implement Practice Guides and supporting guidance for key operational risk roles, demonstrating what effective risk management looks like in practice.
• Strengthen and simplify Group-wide operational risk practices to support improved risk outcomes and operational efficiency.
• Partner with operational risk stakeholders across the Three Lines of Accountability to provide challenge, advice and support.
• Contribute to the design, enhancement and continuous improvement of the ORMF and associated standards, including Risk and Control Self Assessment (RCSA), Control Assessment Program (CAP), Incident Management and Change Management Risk.
• Support framework implementation through process improvement, tool enhancements and operationalisation activities.
• Deliver training, communications and engagement initiatives that build risk capability across the Group.
• Contribute to strategic projects and initiatives that enhance the effectiveness of operational risk management.
• Support collaboration across CBA and ASB through the One Risk operating model.

We're Interested In People Who

• Build strong relationships and influence a broad range of stakeholders.
• Communicate complex concepts clearly and effectively.
• Combine operational risk expertise with sound commercial judgement.
• Enjoy solving problems and navigating ambiguity.
• Can influence outcomes without relying on formal authority.
• Thrive in fast-paced environments with competing priorities.
• Demonstrate resilience, adaptability and a continuous improvement mindset.
• Have experience delivering initiatives involving diverse stakeholder groups.
• Bring strong consulting, facilitation and presentation skills.

Skills & Experience

You may bring experience from banking, financial services, insurance, consulting or other large, complex organisations.

We're interested in candidates who have:

• Strong operational risk management experience and understanding of risk frameworks.
• Experience partnering with senior stakeholders to influence outcomes and drive change.
• Knowledge of regulatory expectations and the broader risk management environment.
• Experience developing policy, framework, governance or risk management practices.
• The ability to translate complex requirements into practical solutions.

Qualifications

• Tertiary qualification in business, finance, risk management, law or a related discipline.
• Postgraduate qualifications are advantageous but not essential.
• Experience in operational risk, governance, compliance or related risk disciplines.
• Experience across Line 1, Line 2, Line 3 and/or advisory environments will be highly regarded.
• Knowledge of APRA prudential standards, ASIC regulation and broader operational risk management principles.

If you're already part of the Commonwealth Bank Group (including Bankwest, x15ventures), you'll need to apply through Sidekick to submit a valid application. We’re keen to support you with the next step in your career.

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Advertising End Date: 21/09/2026