First Republic Bank

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Operational Risk Specialist

Operational Risk Specialist

Job Locations 
US-CA-San Francisco
Risk Management

More information about this job


First Republic Bank is looking for a motivated, experienced professional with strong audit and/or risk assessment skills to join our Lending Services Risk Management team.  As an Operational Risk Specialist within the First Line of Defense, you will be primarily responsible for acting as a key liaison between Lending Services and the Bank’s Second and Third Lines of Defense (Internal Audit, BSA/AML, etc.). You will build and cultivate strong relationships within these business groups in order to facilitate seamless reviews in a timely manner, communicate any exceptions identified, and work to ensure quick resolution or mitigation of said exceptions. Under the guidance of Management, you will assist in performing operational risk assessments of various functions within Lending Services in order to determine and mitigate the greatest areas of risk and ensure that appropriate internal controls are in place. You will also have an exciting opportunity to build your leadership skills as you assist in the review and evaluation of Lending Services departmental processes and controls in the form of risk-based Targeted Reviews. 


Why First Republic?

We like to have fun at FRB by offering generous benefits and work-life balance.

401K matching

Social Fridays

Student loan repayment assistance

Monthly fitness stipend

Subsizided gourmet meals at our exclusive cafes

Paid volunteer time

Career growth and mentoring

Fun and collaborative culture





Additionally, you will:

  • Play a key role in the review and documentation of the Lending Services Risk Assessment Program:
    • Create and review process maps.
    • Assist with workshops to assess risk and control effectiveness and document results.
    • Facilitate the risk response follow-up actions.
    • Assist with the creation of Key Risk Indicators (KRIs).
  • Play a key role in the review and evaluation of the Lending Services Targeted Reviews, including, but not limited to, designing audit programs, conducting control/transaction testing, reviewing workpapers, and communicating results through the developing development of reports.
  • Assist with the management of the lending Services risk management database by logging new issues, performing monthly reporting on issue status, conducting issue remediation testing, and making regular status reports to management.
  • Liaise with the Bank’s Internal Audit, Corporate Compliance, BSA/AML departments, third party auditors, investors, ratings agencies, and all other relevant regulatory bodies to ensure completion of successful and timely reviews and/or audits.
  • Coordinate periodic certifications and/or assertions which include, but are not limited to, the SOX program, various system certifications, and the Risk Inventory Attestation.
  • Act as a risk and control SME on internal process development / change initiatives. Consult with various Lending Services groups on process implementation and/or change initiatives to ensure that a strong control environment is maintained.
  • Perform duties and responsibilities specific to department functions and activities or as assigned by supervisor.
  • Responsibilities include the following: 1)adhering to and complying with all applicable, federal and state laws, regulations and guidance, including those related to Anti-Money Laundering (i.e. Bank Secrecy Act, USA PATRIOT Act, etc.); 2)adhering to Bank policies and procedures; 3) completing required training; 4) identifying and reporting potential suspicious activity to the BSA/AML Officer; and 5) knowing and verifying the identity of any customer(s) that enters into a relationship with the Bank.





  • Bachelor’s Degree required
  • Must possess 2-3 years of experience in risk management, internal or external audit, or related field.
  • 1-3 years of experience in lending or financial services strongly preferred.
  • Must possess strong working knowledge of MS Office.
  • Knowledge of Commercial and/or Residential loan origination/servicing systems a plus.
  • Must possess excellent verbal and written communication skills.
  • Must possess demonstrated organizational skills and strong attention to detail.
  • Must be able to build and maintain effective working relationships with staff at various levels.
  • Must be able to act proactively and efficiently in a fast-paced environment.
  • Must further the First Republic Bank culture and values.



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