Senior Risk Analyst

General Description

The Senior Risk Analyst will serve as a key member of the second line of defense (2LoD), responsible for strengthening the Operational Risk Management Framework with a primary focus on Risk and Control Self-Assessments (RCSA). This role provides independent oversight, and credible challenge to ensure risks are appropriately identified, assessed and mitigated in alignment with internal policies and regulatory expectations (e.g., Fed, FDIC, Basel guidelines). The position requires a strong ability to translate complex risk data into actionable insights for senior management, while promoting a proactive risk culture and continuous improvement of the control environment. Also, ensure adherence to the governance of the established Popular’s operational risk framework. This position will report to the Senior Manager.

Essential Duties and Responsibilities

Operational Risk Control Self-Assessment (RCSA) Framework & Governance:

• Serve as a second-line advisor for business units’ leadership to ensure operational risk management practices are implemented consistently across the organization.
• Lead enhancements to each business unit’s operational RCSA framework, ensuring alignment with applicable regulatory requirements, including Basel, Federal Reserve, FDIC, OCC, and NYDFS guidelines.
• Ensure completeness and consistency of operational risk taxonomy across business units.
• Lead RCSA challenge sessions with senior stakeholders over risk and control assessments, including control design and operating effectiveness.
• Perform effective challenge over root cause analysis of identified risk events and recommend improvements to prevent recurrence.
• Translate control deficiencies and risk exposure into formal issues with clear root cause and corrective action plans to strengthen the control environment in accordance with regulatory expectations. 
• Monitor remediation plans issued by business and validate issue closure to ensure sustainability of solutions and risk mitigation effectiveness.
• Act as a trusted risk advisor to business units on identified risks and control weaknesses promoting strong risk awareness and accountability, ensuring appropriate escalation to relevant committees and stakeholders.
• Provide oversight and follow-up on audit findings and regulatory recommendations.
• Provide guidance on risk acceptance decisions, control design, and risk mitigation strategies.
• Deliver training to business liaisons and business units on RCSA, risk governance, control effectiveness, and risk identification practices.

Operational Risk Key Risk Indicators (KRI’s) and Reporting

• Design, implement and enhance Operational Risks KRIs, including metric, thresholds, escalation triggers and governance standards.
• Ensure KRIs are forward-looking, actionable, and aligned with risk appetite
• Perform KRI’s and Operational Losses trends analysis to identify potential issues and perform root cause analysis to provide recommendations to Management on how to mitigate their Operational Risk posture.
• Analyzes data, including operational losses data, to calculate risks and outcomes.  Evaluates, in coordination with business units’ additional mitigation strategies and actions that need to be taken.
• Prepare executive-level materials (scorecards, dashboards, risk profiles) for Operational Risk Committee (ORCO), Risk Committees, and Senior Management.
• Ensure accuracy, completeness, and timeliness of risk reporting deliverables (scorecards, dashboards, metrics – KRI and ad hoc reports)

Education

Bachelor’s Degree in Business Administration, Accounting, Information Technology, Finance or Industrial Engineering, or related field.

Experience

• 5- 7+ years of experience in Operational Risk, Risk Management, Internal Audit or similar discipline.
• Demonstrated experience in:
  • Risk governance and committee/board level reporting
  • RCSA frameworks
  • Issue Management and remediation validation
  • Risk Acceptances assessment
• Experience working in the banking or financial services industry required.

Other Qualifications

• Strong analytical and critical thinking skills with ability to challenge effectively and independently.
• Proven ability to translate complex data into executive ready insights.
• Solid knowledge of banking regulations and risk management frameworks.
• Experience with data analysis tools (e.g. Intermediate or Advanced Excel and Microsoft, BI tools, reporting dashboards) and dashboard tools preferred.
• Strong project management skills with ability to manage multiple priorities and deadlines in fast-paced environments.
• Must be bilingual (English and Spanish) and be able to speak and write both languages fluently.
• Highly organized, detail-oriented, and results-driven; able to work independently, maintain confidentiality, and collaborate effectively with stakeholders.
• Ability to design and provide training to users.
• Ability to plan and coordinate with different internal users and external providers.
• High level of professionalism, integrity, and confidentiality.
• Customer service oriented.

Certifications

Relevant certifications preferred (e.g. ORM, CIA, Certified in Risk and Information Systems Control (CRISC), CISA.

Location

Popular Center 011
San Juan, Puerto Rico