Job Details
Together we fight for everyone's opportunity for a better financial future.
We will do this together - with customers, partners and colleagues. We will fight for others, not against: We will stand up for and champion everyone's access to opportunities. The status quo is not good enough ... we believe every individual and every community deserves access to financial opportunities. We are determined to support both individuals and communities in reaching a better financial future. We know that reaching this future depends on our actions today.
Like our Purpose Statement, Voya believes in being bold and committed to action. We are committed to a work environment where the differences that we are born with - and those we acquire throughout our lives - are understood, valued and intentionally pursued. We believe that our employees own our culture and have a responsibility to foster an environment where we all feel comfortable bringing our whole selves to work. Purposefully bringing our differences together to positively influence our culture, serve our clients and enrich our communities is essential to our vision.
Are you ready to join a company with a strong purpose and a winning culture? Start your Voyage - Apply Now
Profile Summary:
The Assistant Vice President (AVP) of Operational Risk Management (ORM) reports to the Vice President & Head of ORM for Voya Financial (Voya)
in our Operational & Non-Financial Risk Management division of Voya's Enterprise Risk Management function. This role reports directly to the VP and Head of Operational & Non-Financial Risk Management. The individual will manage an integrated team of risk professionals that support a varied and dynamic range of strategic initiatives and risk management activities in support of Voya's Workplace Solutions business, products, and services. The successful candidate will possess relevant industry experience, in specifically business operations, compliance and technology controls, operational risk frameworks, organizational skills, strong written and verbal communication skills, driven by data, innovation and creativity, and with a strong risk management mindset coupled with excellent leadership skills.
Key areas of focus include partnering with senior business leaders in helping identify business operational risks and supporting risk processes for proactively identifying, classifying, assessing, measuring, and helping prioritize remediation strategies for the greatest areas of risk exposure. The individual will be responsible for all facets of business operational risk, including maturing existing business operational risk processes within retirement operations, health solutions, and benefit administration. Manage, coach, and lead a dedicated team of risk professionals with key focus on risk and control management, and promoting sound risk management activities.
At Voya, we foster a collaborative, creative and innovative culture where you will be empowered to do your best work. All our employees bring their very best to their jobs to achieve and deliver together as a collective team - our winning culture helps us drive sound and safe techniques and as a risk team we help promote and instill one-of-a-kind risk culture across the enterprise.
The Contributions You'll Make:
- Member of the operational and non-financial risk leadership team.
- Lead, manage and coach dedicated business operational risk management team.
- Set strategy, define team's goals, and support the development and execution of the team's objectives with key focus on value-driven risk management
- Maintain comprehensive business operational risk management framework, policies, and procedures that align with the company's risk appetite, regulatory requirement, and industry best practices.
- Work closely with business unit leaders, corporate function partners, including legal, compliance, audit, finance and other risk and control assurance functions to help business develop and implement risk mitigation strategies, ensuring that risks are controlled within acceptable levels.
- Provide advice and guidance to business unit on operational risk management best practices, ensuring that all employees understand the importance of risk management and the role they play in managing risks.
- Manage business operational risk management practices, including risk identification processes, risk assessment methods, issue management, root-cause analysis, emerging risk, product reviews, development of key risk indicators, risk heat maps/ scorecards, risk governance including committee support, risk monitoring and management risk reporting.
- Support Voya's governance, risk, and compliance (GRC) tool and help maintain integrated risk management methodology comprise of business process, risk, and control taxonomy.
- Support top-down risk identification, risk ranking and lead workplace solutions annual risk control attestation process.
- Work closely with Voya's international colleagues, in specifically Voya India to assert local risk controls and risk management practices; support and advice local management including local risk committee in risk frameworks, policies and risk treatment decision-making.
- Manage and support corporate insurance program, including the annual risk review of Voya's corporate insurance structure and partake in periodic scenario reviews and annual policy renewals.
- Work closely with horizontal risk management disciplines, including IT risk, third-party risk management, model risk, product risk and actuarial.
- Foster a risk-aware culture by promoting effective communication, training, and risk awareness programs across the business organization.
- Develop and maintain relationships with key internal stakeholders, external partners, and industry groups to stay abreast of emerging risks and to share best practices.
Minimum Knowledge & Experience:- Bachelor's degree in risk management, accounting, finance, business management, mathematics, or equivalent in Operational Risk Management.
- Minimum of 10 years of experience in risk management, in specifically operational risk management at a financial service organization.
- Strong understanding of risk management concepts, with risk management methodologies and techniques.
- Experience in developing and implementing risk management frameworks.
- Demonstrated ability to communicate complex risk concepts to senior management and other stakeholders.
- Experience in leading and managing teams effectively and dynamically via hybrid work environment.
- Strong analytics and problem-solving skills.
- International experience
*
This position can sit remotely in the US, in the lower 48 States*#LI-JS1
Compensation Pay Disclosure: Voya is committed to pay that's fair and equitable, which means comparable pay for comparable roles and responsibilities.
The below annual base salary range reflects the expected hiring range(s) for this position in the location(s) listed. In addition to base salary, Voya offers incentive opportunities (i.e., annual cash incentives, sales incentives, and/or long-term incentives) based on the role to reward the achievement of annual performance objectives. Please note that this salary information is solely for candidates hired to perform work within one of these locations, and refers to the amount Voya Financial is willing to pay at the time of this posting.
Actual compensation offered may vary from the posted salary range based upon the candidate's geographic location, work experience, education, licensure requirements and/or skill level and will be finalized at the time of offer. Salaries for part-time roles will be prorated based upon the agreed upon number of hours to be regularly worked.
$166,310 - $207,890 USD
Be Well. Stay Well.Voya provides the resources that can make a difference in your lives. To us, this means thriving physically, financially, socially and emotionally. Voya benefits are designed to help you do just that. That's why we offer an array of plans, programs, tools and resources with one goal in mind: To help you and your family be well and stay well.
What We Offer- Health, dental, vision and life insurance plans
- 401(k) Savings plan - with generous company matching contributions (up to 6%)
- Voya Retirement Plan - employer paid cash balance retirement plan (4%)
- Tuition reimbursement up to $5,250/year
- Paid time off - including 20 days paid time off, nine paid company holidays and a flexible Diversity Celebration Day.
- Paid volunteer time - 40 hours per calendar year
Learn more about Voya benefits (download PDF)
Critical SkillsAt Voya, we have identified the following critical skills which are key to success in our culture:
- Customer Focused: Passionate drive to delight our customers and offer unique solutions that deliver on their expectations.
- Critical Thinking: Thoughtful process of analyzing data and problem solving data to reach a well-reasoned solution.
- Team Mentality: Partnering effectively to drive our culture and execute on our common goals.
- Business Acumen: Appreciation and understanding of the financial services industry in order to make sound business decisions.
- Learning Agility: Openness to new ways of thinking and acquiring new skills to retain a competitive advantage.
Learn more aboutCritical Skills
Equal Employment OpportunityVoya Financial is an equal-opportunity employer. Voya Financial provides equal opportunity to qualified individuals regardless of race, color, sex, national origin, citizenship status, religion, age, disability, veteran status, creed, marital status, sexual orientation, gender identity, genetic information, or any other status protected by state or local law.
Reasonable AccommodationsVoya is committed to the inclusion of all qualified individuals. As part of this commitment, Voya will ensure that persons with disabilities are provided reasonable accommodations. If reasonable accommodation is needed to participate in the job application or interview process, to perform essential job functions, and/or to receive other benefits and privileges of employment, please reference resources for applicants with disabilities.
Misuse of Voya's name in fraud schemes