Director, Operational Risk - Strategic Investment

What We Do

With residents and partners, LISC forges resilient and inclusive communities of opportunity across America – great places to live, work, visit, do business and raise families.

Strategies We Pursue

• Equip talent in underinvested communities with the skills and credentials to compete successfully for quality income and wealth opportunities.
• Invest in businesses, housing and other community infrastructure to catalyze economic, health, safety and educational mobility for individuals and communities.
• Strengthen existing alliances while building new collaborations to increase our impact on the progress of people and places.
• Develop leadership and the capacity of partners to advance our work together.
• Drive local, regional, and national policy and system changes that foster broadly shared prosperity and well-being.

Since 1979, LISC and its affiliates have invested approximately $29.7 billion in businesses, affordable housing, health, educational mobility, community and recreational facilities, public safety, employment, and other projects that help to revitalize and stabilize underinvested communities. Headquartered in New York City, LISC’s reach spans the country from East coast to West coast in 38 markets with offices extending from Buffalo to San Francisco and in 2,400 rural counties across 49 states and Puerto Rico. Visit us at www.lisc.org

ABOUT STRATEGIC INVESTMENT:

The LISC Strategic Investments team leads the design, development, and deployment of impact investment funds in LISC’s local markets nationwide. Strategic Investments employs an “impact first” investment methodology that optimizes the impact on the communities we care about while achieving sustainable risk-adjusted returns for investors.

ABOUT THIS ROLE:

As the Director of Operational Risk at our leading community development financial institution, you will play a crucial role in safeguarding our mission and assets while enabling responsible growth and impact. This position offers a unique opportunity to leverage your extensive risk management expertise in service of transformative community investments and social impact.

Leading our operational risk function, you will be the architect of a new comprehensive risk management strategy. Your keen analytical skills and strategic vision will be instrumental in identifying, assessing, and mitigating risks across our diverse operations, ensuring we maintain the delicate balance between financial sustainability and meaningful community impact.

RESPONSIBILITIES:

The following are an indication of the position’s core responsibilities; these are intended to illustrate the scope of responsibilities and are not exclusive of other duties that may be required.

Risk Assessment and Management (30%)

• Lead comprehensive risk assessments across all business lines
• Develop and maintain the organization's risk matrix and risk register from ground up
• Identify, evaluate, and prioritize risks (low, medium, and high) across all functions
• Implement and oversee risk mitigation strategies and controls

Policy and Procedure Development (20%)

• Formulate, review, and update the organization's Risk Management Policy
• Collaborate with business lines to develop and maintain operational policies and procedures
• Ensure all policies and procedures align with regulatory requirements and industry best practices.
• Ensure business line operational policies and procedures are updated on a regular basis, and risk matrix is updated in alignment with operational changes.

Cross-functional Collaboration (25%)

• Work closely with all business lines in Strategic Investments, LISC ERM and Audit, and LISC IT teams
• Engage with all functions to understand specific risks and ensure appropriate controls are in place or risk acceptance is documented
• Coordinate with business units and technology areas to prioritize identified risks and implement controls
• Prepare periodic reports for the LFM Audit Committee and LFM Board of Directors
• Communicate clearly with function heads on prevailing risks and mitigation strategies
• Develop and present risk analytics and insights to senior leadership

Control Testing and Monitoring (10%)

• Oversee the development and execution of control testing and continuous assurance programs
• Analyze and document report findings and discuss with corresponding control/process owners
• Monitor the effectiveness of implemented controls and recommend improvements

General Operational Support (20%)

• Ability to step in and support across teams in general operational support in order to meet organizational goals
• Team-player who can self-direct in researching problems and recommending solutions in support of all teams
• Main point of contact for external audits, collaborating across teams to ensure timely and accurate responses to gather list

MINIMUM QUALIFICATIONS

• Minimum of 7 years of experience in operational risk management, preferably within CDFIs, fund management, investment banking, or financial services
• Deep understanding of operational risk management concepts, frameworks, and best practices in the context of impact investing and community development finance.
• Proven track record in developing and implementing comprehensive risk assessment methodologies, risk matrices, and risk registers.
• Strong experience in policy formulation and revision, particularly in areas of risk management and business continuity.
• Excellent analytical skills with the ability to identify, evaluate, and mitigate complex operational risks across multiple business functions.
• Excellent verbal and written communication skills, with the ability to prepare and present risk reports to senior leadership, board members, and external stakeholders.
• Experience in developing and overseeing control testing and continuous assurance programs.
• Proven ability to manage multiple high-priority projects simultaneously, meet deadlines, and work effectively under pressure.
• Familiarity with impact measurement frameworks and the ability to align risk management strategies with both financial performance and social impact goals.
• Advanced skills in Microsoft Excel, data visualization tools..
• Passion for economic development and community investment, with a commitment to the organization's mission and values in impact investing and closing the racial wealth gap.

PREFFERED QUALIFICATIONS

• Bachelor's degree in Finance, Economics, Business Administration, or a related field OR relevant related work experience
• Familiarity with fund management and risk management software reporting systems.
• Experience with Model Risk Management

COMPENSATION & BENEFITS:

LISC offers a competitive salary ($92,400 - $115,500 salary commensurate with experience and location) and excellent fringe benefits. This position is expected to travel less than once per month, up to 15% annually.

*Actual salaries may be based on several factors including, but not limited to, a candidate's skill set, experience, education, work location and other qualifications.

Our benefits include:

Medical, Dental, Vision Coverage: Comprehensive health plans for you and your family's well-being; Disability Insurance: Long-term and short-term coverage for peace of mind; Retirement Savings: Secure your future with our 401(k) and 403(b) plans; Generous Holidays: Enjoy ample time off to recharge and celebrate; Vacation, PTO, and Sick Days: Take advantage of flexible time-off policies to maintain work-life balance; Tuition Assistance: Pursue your educational goals with support from our tuition assistance program; Referral Program: Earn rewards for referring qualified candidates to join our team; Professional Development Opportunities: Grow and advance in your career with access to ongoing training and development programs tailored to your goals.

LISC is an equal opportunity employer. LISC does not discriminate in employment on account of actual or perceived race, color, creed, religion, national origin, ancestry, citizenship status, age, sex or gender (including pregnancy, childbirth, lactation and related medical conditions), gender identity or expression (including transgender status), sexual orientation, marital status, military status or veteran status, unfavorable discharge from military service, physical or mental disability, protected medical condition as defined by applicable state or local law, genetic information or any other characteristic protected by applicable federal, state or local laws and ordinances.

We will endeavor to make a reasonable accommodation to the known physical or mental limitations of a qualified applicant with a disability unless the accommodation would impose an undue hardship on the operation of our business.

LISC IS AN EQUAL OPPORTUNITY EMPLOYER COMMITTED TO DIVERSITY, EQUITY, INCLUSION AND JUSTICE