Operational Risk Analyst

ExlService Holdings, Inc.; United States; Remote; USD 70,000 - 100,000; Full time

Job summary

A leading Life and Annuity Third-Party Administrator (TPA) seeks an Operational Risk Analyst to enhance operational resilience. The candidate will execute the Risk and Control Self-Assessment processes, perform control testing, and collaborate with business units to maintain the risk framework and promote risk-aware decision-making. Ideal for individuals passionate about operational excellence and driving meaningful change.

Qualifications

• 3+ years of relevant experience in operational risk, internal audit, compliance, or controls testing.
• Strong understanding of the RCSA process and risk assessment principles.
• Experience with a TPA or similar environment preferred.

Responsibilities

• Execute the Risk and Control Self-Assessment (RCSA) process and document risk assessments.
• Perform control testing and identify control gaps.
• Monitor and analyze operational risk events and recommend process improvements.

Skills

Analytical skills

Communication

Interpersonal skills

Education

Bachelor's degree in Finance

Bachelor's degree in Risk Management

Bachelor's degree in Business Administration

Tools

Microsoft Office Suite

GRC tools (e.g., Archer, MetricStream)

Job description

We are seeking a detail-oriented and proactive Operational Risk Analyst to join our Risk Management team at a leading Life and Annuity Third-Party Administrator (TPA). The ideal candidate will have hands-on experience executing the Risk and Control Self-Assessment (RCSA) process, testing controls, and collaborating with business units to enhance operational resilience. This role plays a critical part in maintaining our risk framework and driving a strong control environment across the organization.

Key Responsibilities:

• Execute the Risk and Control Self-Assessment (RCSA) process, including planning, facilitation, and documentation of risk assessments across key operational functions.
• Perform control testing to evaluate the design and operating effectiveness of internal controls, identifying control gaps or weaknesses.
• Partner with business units to strengthen controls, ensure risk mitigation strategies are implemented, and promote risk-aware decision-making.
• Assist in maintaining the Operational Risk Framework, ensuring alignment with industry best practices and regulatory expectations.
• Monitor and analyze operational risk events, identifying trends and recommending process improvements.
• Support issue management processes, including tracking, validation, and closure of remediation actions.
• Prepare risk reporting and dashboards for management and governance committees.
• Contribute to continuous improvement initiatives to enhance risk assessment methodologies, documentation quality, and stakeholder engagement.

Qualifications:

• Bachelor's degree in Finance, Risk Management, Business Administration, or related field.
• 3+ years of relevant experience in operational risk, internal audit, compliance, or controls testing, preferably in the life insurance or annuity industry.
• Strong understanding of the RCSA process, internal controls, and risk assessment principles.
• Experience working in or with a TPA or similar service provider environment preferred.
• Excellent analytical, communication, and interpersonal skills.
• Proficiency in Microsoft Office Suite; experience with GRC tools (e.g., Archer, MetricStream) is a plus.

Preferred Attributes:

• Collaborative mindset with the ability to work cross-functionally and influence without authority.
• Self-starter with the ability to manage multiple priorities and meet deadlines.
• Strong attention to detail and critical thinking skills.
• Familiarity with NAIC regulations, SOC1 controls, and life/annuity product knowledge is advantageous.

Join Us

If you’re passionate about operational excellence, risk management, and driving meaningful change across a growing and dynamic organization, we’d love to hear from you.