Senior Manager - Operational Risk and Compliance

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

Job summary

Commonwealth Bank in Sydney seeks a Senior Manager Operational Risk to provide independent Line 2 risk oversight across AI-led technology change and ongoing risk management, partnering with business, technology, product and risk stakeholders.

The role focuses on risk assessment of AI, data quality, privacy, cybersecurity, governance and resilience, with strong change-management experience and ability to influence senior stakeholders.

Qualifications

• Senior-level operational risk, technology risk or change risk experience within financial services or a regulated environment.
• Experience providing risk oversight for significant technology transformation and AI-led change initiatives.
• Strong understanding of operational risk frameworks, change governance, control design and risk appetite.
• Practical knowledge of AI risk considerations, including governance, data quality, model risk, human oversight, privacy, cyber security and resilience.
• Awareness of compliance obligations relevant to technology and AI-led change, with ability to ensure they are considered in delivery.
• Experience influencing senior business and technology stakeholders and constructively challenging fast-moving change initiatives.

Responsibilities

• Provide independent Line 2 operational risk advice and challenge across AI-led technology change, transformation programmes and strategic initiatives.
• Assess risk and control design throughout the change lifecycle, including governance, data, model and technology dependencies, testing, implementation readiness and post-implementation monitoring.
• Identify and evaluate operational risks arising from AI, automation and emerging technologies, including human oversight, explainability, data quality, privacy, cyber security and resilience.
• Challenge business cases, risk assessments, control frameworks and implementation decisions to support safe, responsible and sustainable change within risk appetite.
• Oversee change-related incidents, emerging risks, root-cause analysis and remediation, and promote timely escalation of material issues.
• Provide clear, evidence-based insights and recommendations for senior management, governance forums and risk committee reporting.

Skills

Senior risk management

AI risk

Change governance

Stakeholder management

Analytical skills

Job description

See yourself in our team

Risk Management is an independent function within CommBank which is accountable for providing approval and acceptance of decisions to ensure the Group remains within its risk appetite.

See yourself in our team

Risk Management is an independent function within CommBank which is accountable for providing approval and acceptance of decisions to ensure the Group remains within its risk appetite.

The Technology and Operations (Tech & Ops) Risk team is responsible for providing specialist Line 2 Operational Risk and Compliance (OR&C) advice, assurance and acceptance/approval of decisions made across the Technology, COO and Supplier Support Units.

The Chief Operations Office (COO) Line 2 Risk & Compliance team within Tech & Ops Risk provides independent Operational Risk and Compliance (OR&C) advice, assurance and acceptance/approval of decisions across the COO. The team supports the safe delivery of strategic, technology and AI-led change while promoting a strong control and compliance environment that operates within risk appetite.

Do work that matters

We are seeking a Senior Manager Operational Risk to provide independent Line 2 oversight, advice and challenge across complex technology and business change, with a particular focus on AI-led transformation.

The role will partner with business, technology, product and risk stakeholders to identify, assess and manage operational risks arising from the design, development, implementation and ongoing use of AI, automation and emerging technologies. The ideal candidate will bring strong operational risk and change management experience, practical knowledge of AI-related risks and controls, and the ability to influence senior stakeholders through clear, evidence-based advice.

Key responsibilities for this role include:

• Provide independent Line 2 operational risk advice and challenge across AI-led technology change, transformation programmes and strategic initiatives.
• Assess risk and control design throughout the change lifecycle, including governance, data, model and technology dependencies, testing, implementation readiness and post-implementation monitoring.
• Identify and evaluate operational risks arising from AI, automation and emerging technologies, including human oversight, explainability, data quality, privacy, cyber security, resilience and third-party dependencies.
• Challenge business cases, risk assessments, control frameworks and implementation decisions to support safe, responsible and sustainable change within risk appetite.
• Oversee change-related incidents, emerging risks, root-cause analysis and remediation, and promote timely escalation of material issues.
• Provide clear, evidence-based insights and recommendations for senior management, governance forums and risk committee reporting.

We’re interested in hearing from people who have:

• Senior-level operational risk, technology risk or change risk experience within financial services or another highly regulated environment.
• Demonstrated experience providing risk oversight for significant technology transformation and AI-led change initiatives.
• Strong understanding of operational risk frameworks, change governance, control design and effectiveness, and risk appetite.
• Practical knowledge of AI risk considerations, including governance, data quality, model risk, human oversight, explainability, privacy, cyber security and operational resilience.
• Awareness of the compliance obligations relevant to technology and AI-led change, with the ability to identify when obligations may be impacted and ensure they are considered in delivery.
• Experience influencing senior business and technology stakeholders and constructively challenging complex or fast-moving change initiatives.
• Excellent analytical, stakeholder management and business writing skills, with a proactive, collaborative and solution-oriented approach.

At CommBank, we're committed to creating an accessible, inclusive and respectful workplace. If you require support or adjustments, please let us know. We welcome applications from people of all backgrounds and we're particularly committed to making a positive difference for Aboriginal and/or Torres Strait Islander Peoples. For support please contact 1800 989 696.

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Advertising End Date: 01/10/2026