Oaktree Capital Management

Assistant Vice President, Operational Risk Management

US-CA-Los Angeles
Job ID
2017-1369
Job Department
Internal Audit

Company Overview

Oaktree is a leader among global investment managers specializing in alternative investments, with $100 billion in assets under management as of March 31, 2017. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in distressed debt, corporate debt (including high yield debt and senior loans), control investing, convertible securities, real estate and listed equities. Headquartered in Los Angeles, the firm has over 900 employees and offices in 18 cities worldwide.

 

For additional information please visit our website at www.oaktreecapital.com.

Responsibilities

The Assistant Vice President of Operational Risk Management will be responsible for the development, implementation, coordination, execution and ongoing maintenance of Oaktree’s global Operational Risk Management framework. This includes facilitation of an annual firm-wide self-assessment, root cause analysis of operational events, and identification of operational risk trends. The job involves framing the program and educating the business staff on the process of operational risk and control identification and ongoing awareness of operational changes that introduce new risks or have impact on existing risks and controls. The individual will work directly with all major business and support functions and investment teams to help identify, assess, and mitigate operational risks across Oaktree’s business. The individual may also have limited client and regulatory contact in cases where Oaktree is asked to provide information on the Operational Risk framework. Candidates should be comfortable challenging the assumptions and conclusions of senior individuals while maintaining constructive relationships with management.

 

A key responsibility will be to develop a standardized risk assessment program that can be utilized for self-assessment and risk assessment processes across the firm. This would include developing a standard risk taxonomy and toolkit. Ideally this tool kit could also be utilized for Internal Audit risk assessment purposes.

 

The individual should be willing to think outside of the box and be willing to work alongside Internal Audit and find ways to avoid duplication while sharing mutually beneficial risk information. The individual should also be open to working on projects outside of ORM.

 

Responsibilities include:

  • Facilitating the identification and evaluation of the organization’s key operational risks and controls, including assessing, reporting and validating remediation of operational risk exposure and related control gaps;
  • Evaluating and where necessary, challenging, completed business operational risk self-assessments;
  • Promoting a culture of risk transparency and business unit-level ownership and accountability over operational risk and control environments;
  • Fostering continuous improvements to operating environments;
  • Providing thoughtful and collaborative leadership and serve as the subject matter expert on operational risk initiatives;
  • Organizing and evolving Oaktree’s operational risk framework and associated assessment methodology, approach and tools;
  • Performing theme / trend analysis on recurring operational risk incidents for management’s evaluation and remediation;
  • Facilitating discussions with business owners in the consideration of emerging operational risks (e.g., driven by changes in operating and regulatory environments);
  • Conducting interviews, creating working papers, etc., that support work performed and conclusions reached;
  • Communicating the results of risk analysis via written reports and verbal presentations to management;
  • Documenting and assessing operational breaches/risk events, consulting with business to develop appropriate controls/remediation plans, and monitoring implementation of agreed upon mitigation;
  • Owning relationships with specified business managers to promote a culture of continuous improvement/operational risk management and driving constructive communication with the ORM team;
  • Periodic benchmarking of the firm’s practices against those of peer firms;
  • Pursuing professional development opportunities via professional associations and internal/external training; and
  • Performing various other tasks and projects, including Internal Audit related, as required.

Qualifications

  • 6-8 years of operational risk management, audit and/or related experience required; experience in the investment management industry preferred;
  • Experience facilitating top-down, forward-looking operational risk assessments;
  • Practical experience with Basel II/III, COSO, ERM, risk and control self-assessment tools and concepts;
  • Proven capability in collecting and analyzing complex data, evaluating information and systems and drawing logical conclusions;
  • Track record in planning and project management and in maintaining composure under pressure while meeting deadlines;
  • Strong skills in resolving problems and negotiating issues;
  • Highly organized and able to manage multiple projects with differing priorities to meet deadlines;
  • Team-oriented, possessing strong integrity and professionalism and sharing in Oaktree’s common goal of excellence;
  • Demonstrated ability in:
    • Applying sound judgment in the evaluation of risks and controls;
    • Challenging the assumptions and conclusions of more experienced staff members;
    • Facilitating insightful conversations to ensure appropriate consideration and evaluation of risks;
    • Performing effective root cause analysis to identify control gaps and weaknesses and recommending appropriate corrective course of action;
    • Collaborating with business managers to promote an effective risk management culture by proactively identifying areas of operational risk;
  • Proficient in Microsoft Office products including, Word, Excel, PowerPoint, Visio, Outlook and other business software to prepare reports, memos and summaries.

Personal Attributes

  • Excellent interpersonal, verbal and written communication skills
  • Self-initiated with a proven ability to work independently;
  • Flexible and team-oriented with strong integrity and professionalism;
  • Thrives in roles that require outside of the box thinking, solving problems and navigating through ambiguous and /or complex issues;
  • Interested in playing a key role in driving the strategic vision for the operational risk management function within the firm;
  • Self-starter with a natural inclination to interpret guidance, improve upon proposed ideas, organize and deliver recommendations, and deliver agreed upon solutions; and
  • Intellectual curiosity and a quick learner.

Education

Bachelor’s degree is required.

Operational Risk Manager certificate from PRMIA or similar, preferred.

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