Ocwen - Manager - Operational Risk Management

Ocwen Financial Corporation (- Ocwen- ) is the largest independent mortgage loan service in the United States and the fifth largest overall mortgage servicer. Ocwen is publicly traded (NYSE:OCN) and is widely recognized in government, industry, community and media circles as a leader in foreclosure prevention, mainly through loan modifications. Over the past few years, Ocwen has enjoyed significant growth in its loan servicing portfolio and market capitalization, largely as a result of successfully integrating servicing platforms acquired from large financial institutions.

As a leader in loan modifications, we strive to help struggling families meet their financial responsibilities and stay in their homes as well as help them address the concerns and complex questions they may have about their home and mortgage. Helping homeowners is what we do!

Make a difference by working in this dynamic, growing field for one of the most innovative and fastest-growing companies in the mortgage servicing industry.

Responsibilities :

Operational Risk is defined as the risk of loss as a result of inadequate or failed operational processes, people or systems. Operational Risk Management (ORM) is the Ocwen department that facilitates the identification of operational risks across Ocwen's business functions, including ensuring proper controls exist to mitigate the risks.

The primary method employed by ORM to assist a business function in self-identifying gaps in or problems with their existing controls is a Risk and Control Self-Assessment (RCSA). Another is a quarterly Control Gap Summary (CGS) Process. When gaps are identified, the business unit manager is required to develop and implement a remediation action plan.

The primary responsibility of the Manager will be to test and validate the remediation efforts implemented by a business function to close self-identified control gaps. This will include assisting in the development of validation processes within ORM to test and validate self-identified issues and RCSA control testing.

This will be accomplished by working collaboratively with other staff across Compliance, Legal, Internal Audit and functional lines of responsibility as well as independent thought and challenge. The role will also assist in the design, deployment, and execution of other ORM methods and initiatives as Ocwen strengthens its Enterprise Risk Management.

Key Result Areas :

- Test and validate the action plans implemented by Ocwen business function managers designed to re-mediate self-identified risk control gaps in their operational processes.

- Assist in the development of ORM's validation processes, policies and procedures. This will include the development of test conditions, scripts, plans and reporting.

- Assist in analyzing and prioritizing self-identified issues submitted by business functions to quarterly Control Gap Summary (CGS) Process. Also, feed the high priority CGS issues to RCP.

- Ensure that the risk issues (i.e. control gaps) identified through each RCSA and CGS are fed to Ocwen's Risk Convergence Process (RCP) to ensure action plan remediation.

- Test the controls identified in the RCSA process for effectiveness and closure of identified exceptions.

- Ensure effective communication between Compliance, Legal, Internal Audit and other second and third line of defense enterprise organizations and first line businesses to effectively address risk and control issues.

Qualifications : (Requirements for the position)

- Master's degree required from Top universities like ISB, IIM's etc.

- 3 to 7 years of experience in operational risk management, enterprise risk management, control/process management, or audit roles, within the mortgage banking or financial services industries.

- 3 to 5 years of testing and validation experience within an ORM, risk management, audit, compliance or QA function.

- Strong understanding of operational risk concepts and related control frameworks and practices.

- Proven ability to build strong partnerships with key stakeholders.

- High level of professionalism, self-motivation and a strong sense of urgency.

- Excellence in execution.

Other Details

Shift Timings - 2pm to 11pm - Transport provided

Location - Bangalore - Eco Space, Bellandur, Sarjarpur Road.

Contact

Carol Parker- 080-66177582

Note:- please mention your current ctc and location for CV's to be shortlisted