Job Responsibilities
Developing a best in class framework and practical set of
policies, standards and guidelines that define my employer's
approach to managing operational risk - 5hrs/wk
Designing practical tools for assessing and monitoring the
current state of operational risk and the occurance of related
risk events in the business - 10hrs/wk.
Educating senior managers and executives on the improtance of
risk management and the value to the business - 5hrs/wk
Directing the design, implementation and ongoing management of
systems and databases supporting the collection, analysis and
reporting or risk information - 10hrs/wk
Managing the analysis of risk data and the development of risk
reporting at the senior management and executive level - 10hrs/wk
Managing the ongoing development of my direct reports, including
annual and quarterly objective setting, monthly check-ins, bi-
annual performance reviews and related administrative tasks - 5
hrs/wk
Provide Enterprise and Operational Risk Management consulting
services to senior leaders engaging in large complex projects -
3hrs/wk
Ongoing professional development training for myself (e.g.
certification programs, seminars etc) - 1hr/wk
Participate in enterprise- and operational risk management
forums conducted at Capital One and other instituions - .5hrs/wk
Paritipcating in community service events sponsored by my
employer - .5hrs/wk
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Job Requirements
MBA from a strong (top 50) program.
5-10 years practical business experience in Finance, Operations
or General Management.
A reasonable understanding of current practices in enterprise-
and/or operational risk management.
Willingness to travel (occasionally) <25%
Consulting background would be helpful, but you need to open to
changing how you approach problems. Very culture driven
organization!
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Uppers
Having insight into the complex nature of the financial services industry and my
company that few managers ever get.
Access to executive leaders and the ability to participate in strategic planning
and decisioning process at that level.
Being sought out as a subject matter expert on risk management by such a broad
spectrum of business leaders.
Ability to manage my work schedule around my life 90% of the time! This is a
huge upper!
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Downers
Significant level of accountability for ensuring that their are
no "surprises" of a negative nature with little or
no "authority" to drive action to prevent those surprises.
Often perceived as an overhead function as it is difficult for
people to see what "didn't go wrong" as a result of good risk
management.
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Lifestyle
Business casual dress code with jeans on Friday in most locations.
Team based management with an emphasis on consensus build and respect for
everyone's abilities.
Very diverse associate population.
Great facilities! A+ buildings with really nice office space and floor plans.
Very open and airy work atmosphere with top of the line dining facilities. Top of
the line gym at Ricmond and McLean locations with subsidized memberships.
Flexible work arrangements for most positions including working from home,
hoteling or reduced work schedule (job specific requirements do apply).
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Compensation
Base $110K
Annual Cash Bonus 0% - 50% based on individual performance (28%
for 2004)
Annual Long Term Incentive Bonus 0 - 58% based on individual
performance (36% for 2004) paid out over three years (25%, 25%
and 50%)
Matching 401K 6% of salary (if you are putting in 6% of your
salary) plus an additional 3% paid in by employer if company
hits targets (usually happens)
Health club subsidy.
Outstanding (very reasonable) medical, dental and vision
benefits.
Health care and child care flexible spending accounts, employer
kicks in 50% (max $1500) match to your total pre-tax
contribution to these accounts.
Tution reimbursement program
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Advice to Jobseekers
This is an emerging field of management with a wide range of
possibilities for application across virtually any industry. I
frequently interface with enterprise- and operational risk
management professionals in banking, telecom, manufacturing,
government and other areas.
Exposure to executive management is a big plus and you can make
a very strong name for yourself if you can effectively translate
the academic aspects of risk management into practical, business
specific solutions.
Study up on current practices in enterprise and operational risk
management. Network, network, network!!! Opportunities in this
field are opening up all over the world. Be willing to pick up
and go. Watch out for positions in traditional consulting
organizations. Often times these do not allow you to truly
explore the field of risk management. You are forced to apply a
single model or solution and that will limit your ability to
make moves once you are out in the business world.
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