Senior Manager, Operational Risk

Malvern, PA, US

November 21, 2017
Vanguard, one of the world’s largest investment management companies and a recognized employer of choice, seeks Senior Manager, Operational Risk for their Retail Investor Division (RIG). RIG serves more than seven million individual clients and small businesses with more than $1.0T in assets. The majority are self-directed retail accounts with holdings that include stocks, bonds, ETFs, annuities, educational products (529 plans), and mutual funds. Our crew (employees) provide brokerage accounts and trading services, advice solutions, online tools, and ongoing investor education.
The Risk and Control team within the Retail Investor Group is responsible for supporting business risk management objectives through activities including risk/control assessments, issues management, and event reporting and analysis. The Risk Function sits within the division’s business groups to align knowledge and expertise with accountability within the first line of defense.

The Senior Manager, Operational Risk lead Risk Management for the Operations/Advice businesses (sub-divisions), collaborate with their functional business partners, and act as a liaison for Vanguard’s legal, compliance, audit, enterprise risk, and CFS departments to ensure all risk matters are considered and addressed. The Risk manager’s role will be to create a center of excellence around risk management, governance, compliance, and controls themes and provide insight, thought leadership, and guidance to their aligned business partners on the risk challenges to the business.

Duties & Responsibilities:

  • Effectively leads and manages a team and creates an environment that is conducive to teamwork, innovation and objectivity, which motivates a highly competent, driven and productive team. Sets measurable goals and examines ways to raise standards, to increase quality, and to improve overall performance of the team.
  • Serves as point of contact for sub-division department head. Maintains strong relationships with leadership of aligned business. Responsible for leading risk governance meetings and driving a strong risk culture across sub-division.
  • Implements corporate risk and control management standards within sub-division’s processes. Identify and prioritize existing and emerging risks and advise on appropriate control design and testing. Effectively communicates strategies and plans to all appropriate parties. Strikes a balance between protecting Vanguard and crew and client experience.
  • Ensures that sub-division has an appropriate level of review of key controls, and can evidence that key controls are designed and operating effectively in accordance with established standards.
  • Develops, maintains and evolves a comprehensive program for monitoring and analyzing controls, including supporting data, tools and technology. Establishes metrics, dashboards, and reports that are distributed regularly and can be used to identify potential control opportunities, as well as monitor the effectiveness of the controls in place. Reports to department leadership on controls across the department.
  • Supports business by assisting with the timely development of new policies and procedures, and ensuring and evidencing new processes are in control.
  • Provides expertise for support of audit activity. Provides holistic view of all internal and external audits and serving as a point of contact for auditors. Drives business toward positive outcomes.
  • Ensures issues and events are being managed effectively. Works with business to proactively identify issues. When issues and events occur, responsible for tracking and driving business to resolution.
  • Partners with sub-division leadership team to ensure business risk and control decisions are made during the design and development of technology and service or operating model changes. Proactively raises and executes a plan to address key issues.
  • Coordinates and works closely with Legal, Compliance, Enterprise Risk, and Audit to develop processes for managing business risks, execution of controls and oversight, ensuring business practices comply with regulatory procedures. Develops effective working relationships with contacts throughout the company on a variety of risk-related issues.
  • Partners with Enterprise Risk Management (ERM) to advance understanding in the field of business risk and control management. Stays abreast of the latest ERM tools. Shares knowledge and champions the implementation of business risk and control management best practices.


  • Undergraduate degree or equivalent experience. Graduate degree preferred.
  • Minimum of eight years progressively responsible Operations Management, Compliance, Risk Management, or Auditing experience from which was attained an expertise in internal control management.
  • Minimum of two years related management experience with demonstrated leadership skills.
  • Well rounded understanding of Vanguard’s business, operations, and technology as well as risk and compliance.
  • Blend of operational/business control and process skills with sound business judgement, able to apply practical thinking in weighing the potential for risk against business decisions.
  • Broad conceptual thinker with a practical orientation and ability to translate complex risk concepts into executable programs and to align operational controls with business objectives.
  • Communication and influence skills, able to navigate, persuade and build buy-in across a matrix structure.
  • Excellent relationship management, communication, and analytical skills required.