Operational Risk Associate
About AQR Capital Management
AQR is a global investment management firm built at the intersection of financial theory and practical application. We strive to deliver superior, long-term results for our clients by looking past market noise to identify and isolate what matters most, and by developing ideas that stand up to rigorous testing. Our focus on practical insights and analysis has made us leaders in alternative and traditional strategies since 1998.
At AQR, our employees share a common spirit of academic excellence, intellectual honesty and an unwavering commitment to seeking the truth. We’re determined to know what makes financial markets tick – and we’ll ask every question and challenge every assumption. We recognize and respect the power of collaboration and believe transparency and openness to new ideas leads to innovation.
AQR’s Operational Risk Management & Resiliency team is part of the Firmwide Risk organization and reports to the Chief Risk Officer within the Enterprise Risk structure. The team has direct responsibility for designing, deploying and managing the Operational Risk & Resiliency Framework (ORRF), which consists of the following core components – governance, risk identification and assessment, validation & independent challenge, resiliency management and event management. The team works with the Operational Risk & Resiliency Committee to oversee the design and production of risk reports, and to analyze risk issues. It partners with risk owners to encourage best practices in operational risk management and drive targeted risk remediation through control optimization and action tracking.
Our team is looking for an exceptionally talented Operational Risk Associate. As part of the overall Operational Risk team, the successful candidate will help manage the Firmwide Risk and Control Self-Assessments, Event Analysis and Remediation, Resiliency Planning and Reference Data Management.
Risk & Control Self-Assessment & Event Management & Resiliency Planning firmwide - exercises to identify, assess, manage, monitor and report on operational risks and resiliency issues across the firm:
- Provide training on all elements of the ORRF and conducting training sessions with firm users as required
- Engage operational risk event owners to capture event details and remediations
- Conduct RSCA workshops with Operational Risk SMEs in relevant business units and corporate functions
- Develop and maintain risk assessment and control evaluation methodology (inherent risk, control effectiveness and residual risk, including aggregation to show risk exposure by process, group and/or department)
- Maintain status of RCSA program throughout the year including the status of all assessments, issues and action plans
- Assist with the overall execution of the Business Continuity program
- Capture Business Impact Analysis data and update relevant business continuity plans
Build and maintain Operational Risk reference data:
- AQR Estate – organizational construct of departments and groups in scope for RCSA
- Process Inventory – processes owned and executed by each department and group
- Risk taxonomy – risks inherent in the firm’s operating model
- Control Library – controls to manage risks
What You’ll Bring
- A Bachelor’s degree; concentration in Business or Computer Information Systems preferred
- 3-7 years’ experience in Financial Services, including roles in Operational Risk (or related) teams in a similar environment
- Demonstrable theoretical and practical experience supporting Operational Risk Management Frameworks
- Proven understanding of RCSA frameworks and OR reference data; ability to innovate and develop alternative thinking around RCSA methodologies
- Demonstrable risk and control mindset – professional critique of assessed risks and controls with a view to constructively reviewing entries and identifying areas for additional assessment
- Business Continuity Management experience / CBCP certification or equivalent a plus
- Experience working with Salesforce and/or Fusion Software a plus
Who You Are
- Hard working and eager to learn in a highly academic, collaborative environment
- Well-organized and detail-oriented
- Enthusiastic about developing and implementing ideas
- Self-starter, able to work autonomously as well as within a team
- Exceptional analytical and problem-solving skills
- Excellent oral and written communication skills
- Understanding of finance and the investment management industry is highly desirable
AQR is an Equal Opportunity Employer. EEO/VET/DISABILITY
Life at AQR
AQR offers generous benefits: 100% paid Medical, Dental and Vision coverage. Perks include health and wellness allowances, meditation programs, onsite breakfasts and lunches and stocked kitchens with seasonal treats.
Employees participate in a range of connectivity and community building events & experiences the firm offers: Book Clubs, Research Colloquiums, baseball outings, Star Wars premiere, our Food Truck Social and volunteer opportunities.
Learning & Development
QUANTA, the firm's learning and development program, offers both professional and personal growth opportunities through 350+ classes per year.
AQR is an Equal Opportunity Employer.