Senior Manager Operational Risk and Compliance

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

Benefits offered by this job

Flexible working options

Hybrid work arrangements

Job summary

Commonwealth Bank in Sydney is seeking a Senior Manager Operational Risk and Compliance to provide independent Line 2 oversight across retail lending. You will advise on risk controls, challenge credit decisions and coordinate across stakeholder groups to maintain risk appetite.

The role requires extensive experience in retail banking risk and regulatory obligations, with a collaborative, proactive approach and the ability to communicate clearly with senior management.

Qualifications

• Senior-level operational risk, credit risk or compliance experience in retail banking or consumer lending.
• Strong knowledge of retail credit processes, responsible lending, credit policy and regulatory obligations.
• Experience providing independent Line 2 challenge and assessing control design and effectiveness.
• Experience overseeing credit incidents, emerging risks and remediation.
• Strong stakeholder management, influencing and communication skills.
• A proactive, collaborative and solution-oriented approach.

Responsibilities

• Provide independent Line 2 advice and challenge across retail lending operations, credit decisions, controls and change initiatives.
• Assess control design and effectiveness across the lending lifecycle and support the business to operate within risk appetite.
• Oversee credit-related incidents, emerging risks, root cause analysis and remediation.
• Provide subject‑matter expertise on responsible lending, credit policy and regulatory obligations.
• Identify opportunities to strengthen and simplify risk practices and controls.
• Provide clear, evidence-based insights for senior management and risk committee reporting.

Skills

Operational risk

Credit risk

Compliance

Stakeholder management

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 with Tech & Ops Risk, is responsible for providing independent Operational Risk and Compliance (OR&C) advice, assurance and acceptance/approval of decisions made across the COO to ensure a strong control and compliance environment that operates within risk appetite.

Do work that matters:

We are seeking a Senior Manager Operational Risk and Compliance with deep credit risk expertise to provide independent Line 2 oversight, advice and challenge across retail lending operations. The role will support the business to identify and manage operational, compliance and credit-related risks across the lending lifecycle, including application, assessment, verification, fulfilment, servicing, hardship and collections. The ideal candidate will have extensive financial services experience, strong knowledge of retail credit processes and obligations, and excellent stakeholder management and business writing skills.

Key responsibilities for this role include:

• Provide independent Line 2 advice and challenge across retail lending operations, credit decisions, controls and change initiatives.
• Assess control design and effectiveness across the lending lifecycle and support the business to operate within risk appetite.
• Oversee credit-related incidents, emerging risks, root cause analysis and remediation.
• Provide subject‑matter expertise on responsible lending, credit policy and regulatory obligations.
• Identify opportunities to strengthen and simplify risk practices and controls.
• Provide clear, evidence-based insights for senior management and risk committee reporting.

We’re interested in hearing from people who have:

• Senior‑level operational risk, credit risk or compliance experience in retail banking or consumer lending.
• Strong knowledge of retail credit processes, responsible lending, credit policy and regulatory obligations.
• Experience providing independent Line 2 challenge and assessing control design and effectiveness.
• Experience overseeing credit incidents, emerging risks and remediation.
• Strong stakeholder management, influencing and communication skills.
• A proactive, collaborative and solution-oriented approach.

We support our people with the flexibility to balance where work is done with at least half their time each month connecting in office. We also have many other flexible working options available including changing start and finish times, part-time arrangements and job share to name a few. Talk to us about how these arrangements might work in the role you’re interested in.

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Advertising End Date: 15/09/2026