Director, Operational Risk – Strategic Investment

CompanyLocal Initiatives Support Corporation
Role Full Time
LocationNew York, NY (Remote)

Full Time
New York, NY (Remote)
Posted 4 weeks ago
$92,400 - $115,500

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Website Local Initiatives Support Corporation

About Local Initiatives Support Corporation

The Local Initiatives Support Corporation (LISC) is a non-profit organization that aims to support community development initiatives across urban and rural areas in the United States. Since its founding in 1979, LISC has invested approximately $29.7 billion in businesses, affordable housing, health, education mobility, community and recreational facilities, public safety, employment, and other projects to revitalize and stabilize underinvested communities. LISC supports local efforts in 38 markets with offices extending from Buffalo to San Francisco and operates in over 2,400 rural counties across 49 states and Puerto Rico. LISC’s mission is to create resilient and inclusive communities of opportunity, leaving a lasting mark through economic development, safety, and educational mobility. Their strategic Initiatives include equipping talent in underinvested communities with skills and credentials, investing in businesses and housing, and catalyzing economic and health mobility. The organization places a special emphasis on impact investment, ensuring they promote broadly shared prosperity and well-being. As a leading community development financial institution, LISC collaborates with residents and partners to build alliances and connections that advance their mission.

About this Role

As the Director of Operational Risk at LISC, you will play a pivotal role in safeguarding the organization’s mission and assets while facilitating responsible growth and impactful community investments. This position offers the unique opportunity to apply extensive risk management expertise towards transformative social impact initiatives. You will lead the operational risk function, creating a comprehensive risk management strategy from the ground up. Your keen analytical skills and strategic vision will be essential in identifying, assessing, and mitigating risks across diverse operations. You will ensure LISC achieves a balance between financial sustainability and meaningful community impact. The position involves leading comprehensive risk assessments, developing and maintaining risk matrices, formulating policy, collaborating cross-functionally, testing controls, and providing general operational support across teams.

Responsibilities

Lead comprehensive risk assessments across all business lines.
Develop and maintain the organization’s risk matrix and risk register from scratch.
Identify, evaluate, and prioritize risks across all functions.
Implement and oversee risk mitigation strategies and controls.
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.
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.
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.
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.
Provide general operational support to meet organizational goals.
Act as the main point of contact for external audits, ensuring timely and accurate responses.

Requirements

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 and 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.