Senior Associate - Operational Risk

Neuberger Berman; New York (NY); On-site; USD 90,000 - 130,000; Full time

Benefits offered by this job

Discretionary bonus

Retirement contributions

Medical/Dental/Vision

Paid time off

Job summary

Neuberger Berman is seeking a Senior Associate in Operational Risk to support the global program. You will embed the risk framework, investigate events, and provide root‑cause analyses across asset classes and regions.

You will engage with risk, front‑office, compliance, and operations teams, coordinating with fund boards and senior management. A strong focus on governance and cross‑functional collaboration is required.

Qualifications

• Minimum of five years of experience in Operational Risk Management (asset management or banking).
• Undergraduate degree.
• Experience with operational risk management frameworks and risk appetite development.
• Familiarity with global regulations for the asset-management industry.
• Familiarity with WoltersKluwer/OneSumX or similar ERM software.

Responsibilities

• Ongoing management, maintenance, and embedding of the operational risk framework across products and governance processes.
• Identify and investigate operational risk events with root‑cause analysis.
• Identify patterns and trends in events for root‑cause analysis.
• Track external loss events and conduct “could it happen here” analyses.
• Undertake deep dive reviews on significant events to provide improvement recommendations.
• Coordinate risk and control self‑assessments and issue oversight across units.
• Provide support for risk tools and business continuity program.

Skills

Operational risk management

Risk appetite development

Stakeholder management

Clear communication

Attention to detail

Team collaboration

Multi-project coordination

Education

Undergraduate degree

Tools

WoltersKluwer/OneSumX

Job description

Neuberger's Operational Risk and Resilience team is seeking a Senior Associate, Operational Risk professional to support the global Operational Risk program. The role involves identifying and managing operational risk events and issues, maintaining the operational risk framework and related governance processes, and collaborating with business, risk, support, and control functions globally to develop solutions that improve processes and strengthen the control environment. This hands‑on position requires the ability to challenge and coordinate front‑to‑back business management and collaborate with risk, support, and control colleagues across the global firm. The role requires regular engagement with fund boards, oversight committees, and senior management as well as responding to requests from various regulators. The role will be a key liaison across local and global business functions on operational risk matters and is responsible for executing operational risk and resilience frameworks in accordance with best practices and regulatory requirements. This provides an opportunity to support a broad range of businesses (Institutional Equity and Fixed Income, Private Markets, Private Wealth) at a global asset manager and cover a range of risk disciplines, all interconnected and allowing for holistic risk oversight.

Responsibilities

• Ongoing management, maintenance, and embedding of the operational risk framework, covering all existing and new products, strategies, and related governance processes.
• Identify and investigate operational risk events, ensuring root‑cause analysis and control assessments are undertaken.
• Identify patterns and trends in events to undertake root‑cause analysis.
• Track external loss events and conduct “could it happen here” event analysis.
• Undertake deep dive reviews on significant and complex events to provide recommendations that enhance the control environment and keep senior leaders updated.
• Identify process and control weaknesses, raise issues and associated actions, notify responsible owners, and provide oversight to ensure issue resolution.
• Conduct and maintain risk and control self‑assessments (RCSAs) across the business and support operating units.
• Provide administration and support for the group‑wide operational risk tools.
• Support the Senior Operational Risk Manager in implementing changes in various systems.
• Support training of employees across the firm on the use of the operational risk database.
• Undertake risk assessments of new third‑party services as part of the Third‑Party Risk Management framework and oversee the business due‑diligence process.
• Interact and coordinate with Portfolio Managers, Legal & Compliance, Operations, Technology, Client Coverage, and Firm Leadership on a regular basis and maintain a high degree of visibility.
• Produce and present Operational Risk reporting for various committees and governance forums, including root‑cause analysis.
• Produce ad‑hoc reporting to key business stakeholders.
• Engage with clients, write client letters following errors and breaches, and prepare internal escalation notes for significant events.
• Provide support to the Business Continuity team for the delivery of the business continuity program.

Qualifications

• Minimum of five years of experience in Operational Risk Management (preferably in asset management or banking).
• Undergraduate degree.
• Experience with operational risk management frameworks, risk appetite development, and alignment with industry best practices.
• Familiarity with global regulations and guidance for the asset‑management industry pertaining to operational risk and resilience.
• Familiarity with WoltersKluwer/OneSumX or experience using and configuring other operational risk management applications.
• Experience in global risk functions supporting multiple institutional business lines and products.
• Highly motivated, self‑starter who delivers accuracy and attention to detail in a fast‑paced environment.
• Team player with flexibility to manage multiple projects with cross‑functional teams.
• Demonstrated ability to work with multiple stakeholders and manage competing priorities.
• Confident and clear communicator with the ability to tailor messaging to different constituencies and engage across all seniority levels.

Compensation and Benefits

Salary range: $90,000 – $130,000. This is the range we use in good faith for this role, though the final offer may vary depending on qualifications, experience, and other factors.

This position is eligible for a discretionary bonus in addition to base salary and retirement contributions. We offer a comprehensive benefits package that includes paid time off, medical/dental/vision insurance, retirement, life insurance, and other employee benefits.

Equal Opportunity Employer

Neuberger is an equal opportunity employer. The Firm and its affiliates do not discriminate in employment because of race, creed, national origin, religion, age, color, sex, marital status, sexual orientation, gender identity, disability, citizenship status, or protected veteran status, or any other characteristic protected by applicable law. If you have a disability or need assistance during the application process, please contact [e-mail].