Website Local Initiatives Support Corporation
About Local Initiatives Support Corporation
Local Initiatives Support Corporation (LISC) is one of the country’s largest organizations supporting projects that revitalize communities and bring greater economic opportunity to residents. Since its founding in 1979, LISC has invested approximately $29.7 billion in businesses, affordable housing, health, educational mobility, community and recreational facilities, public safety, employment, and other projects that help to revitalize and stabilize underinvested communities. LISC operates through its national office in New York City and local offices in 38 urban areas and across 2,400 rural counties in 49 states and Puerto Rico. LISC’s mission is to equip underinvested communities with the capital, strategy, and know-how to become places where people can thrive. Strategic Investments, a division of LISC, leads the design, development, and deployment of impact investment funds in LISC’s local markets across the nation. They employ an “impact first” investment methodology that optimizes the impact on the communities while achieving sustainable risk-adjusted returns for investors.
About this Role
As the Director of Operational Risk at our leading community development financial institution, you will play a crucial role in safeguarding our mission and assets while enabling responsible growth and impact. This position offers a unique opportunity to leverage your extensive risk management expertise in service of transformative community investments and social impact. Leading our operational risk function, you will be the architect of a new comprehensive risk management strategy. Your keen analytical skills and strategic vision will be instrumental in identifying, assessing, and mitigating risks across our diverse operations, ensuring we maintain the delicate balance between financial sustainability and meaningful community impact.
Responsibilities
- Lead comprehensive risk assessments across all business lines
- Develop and maintain the organization’s risk matrix and risk register from the ground up
- Identify, evaluate, and prioritize risks (low, medium, and high) 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 or risk acceptance is documented
- 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
- 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
- General operational support across teams to meet organizational goals
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, 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
Benefits
- Medical, Dental, Vision Coverage: Comprehensive health plans for you and your family’s well-being
- Disability Insurance: Long-term and short-term coverage for peace of mind
- Retirement Savings: Secure your future with our 401(k) and 403(b) plans
- Generous Holidays: Enjoy ample time off to recharge and celebrate
- Vacation, PTO, and Sick Days: Take advantage of flexible time-off policies to maintain work-life balance
- Tuition Assistance: Pursue your educational goals with support from our tuition assistance program
- Referral Program: Earn rewards for referring qualified candidates to join our team
- Professional Development Opportunities: Grow and advance in your career with access to ongoing training and development programs tailored to your goals.
