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Operational Risk Manager presso Swib

Swib · Madison, États-Unis d'Amérique · Hybrid

Microsoft Excel

CRM

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Making a Difference

The State of Wisconsin Investment Board (SWIB), founded in 1951, is a premier global investment organization responsible for managing the more than $162 billion of assets of the fully funded Wisconsin Retirement System (WRS), the State Investment Fund and other state funds. Through SWIB’s effective and innovative investment management, WRS remains one of the only fully funded US public pensions. The WRS consistently ranks among the 10 largest public pension funds in the U.S. SWIB is recognized by the investment industry for our teamwork and innovation. SWIB pursues sophisticated global investment strategies across the asset and risk allocation spectrum. Providers across the investment ecosystem seek to partner with SWIB.

Serving more than 692,000 beneficiaries of the WRS, SWIB is a mission-driven organization focused on providing a strong financial future to those who committed their careers to public service. For public employees and the 1,607 Wisconsin employers who contribute on their behalf, we are a trusted partner. Our team innovates continuously to meet the challenges of an evolving investment landscape while growing and protecting the assets of the WRS.

SWIB provides a strong, steady economic pillar for the state of Wisconsin by growing the trust funds under its management, managing risk, and optimizing costs of the long term. We are a mission-driven organization and the participants we serve are our mission. By bringing a disciplined, prudent, and innovative approach to market opportunities, SWIB has been successful in generating required returns and maintaining the trust of the beneficiaries and stakeholders of the funds we oversee.
Home To Top Talent
Our high-performing staff is key to what makes us a premier investment manager. SWIB is committed to investing in talented professionals to implement our robust, sophisticated investment strategies and to keep the organization at the forefront of the investment industry. We encourage innovation and offer professional development opportunities to help staff sharpen and expand their skills. Approximately 61 percent of SWIB’s investment professionals are Chartered Financial Analyst (CFA) charterholders.

Job Description:

Position Overview

The Operational Risk Manager will play a key leadership role in advancing SWIB’s operational risk program. Reporting to the Chief Legal Counsel, this position will coordinate and oversee the day-to-day management of operational risk processes and provide strategic guidance on risk governance, risk assessment, and control effectiveness.

The Operational Risk Manager will lead efforts to identify, evaluate, and mitigate risks stemming from processes, people, systems, and external events that could adversely impact SWIB’s operations and reputation. This role partners across investment, operations, compliance, technology, and enterprise teams to strengthen resilience, ensure business continuity, and support a culture of proactive risk management.

This position also provides mentorship and oversight to the Operational Risk Analyst role and acts as a key liaison with internal stakeholders and external partners.

Essential Responsibilities

  • Program Leadership: Manage and continuously enhance SWIB’s operational risk framework, policies, and procedures to align with industry best practices.
  • Risk Identification & Assessment: Lead the identification and analysis of key operational risks in coordination with teams across SWIB—including technology disruptions, human errors, process gaps, spreadsheets and application risk, operational risks related to new investment instruments or strategies, and external/vendor risks — and develop or work with the responsible SWIB team on appropriate mitigation strategies.
  • Collaboration & Partnership: Work closely with business units, investment teams, and technology to integrate risk thinking into strategic and operational decisions.
  • Continuity & Resilience: Collaborate with cross-functional teams to facilitate updates and reviews of business continuity and disaster recovery plans to enhance preparedness and operational readiness.
  • Controls & Remediation: Partner with business leaders to assess internal controls, monitor key risk indicators (KRIs), and drive timely remediation of identified issues.
  • Governance & Reporting: Provide clear reporting to the Chief Legal Counsel, senior management, the Enterprise Risk & Compliance Committee, and the Board of Trustees.
  • Culture & Awareness: Promote a culture of accountability, continuous improvement, and effective risk ownership across all levels of the organization.
  • Mentorship: Guide and develop risk staff, fostering analytical rigor and professional growth.
  • Strategic Insight: Stay informed on emerging risks, regulatory changes, and industry developments to anticipate and adapt to evolving operational threats.

Qualifications

Required:

  • Bachelor’s degree in Finance, Risk Management, Business Administration, Accounting, or related field.
  • 7–10 years of experience in operational risk management, enterprise risk, or internal audit within an asset management, banking, or financial services organization.
  • Demonstrated understanding of Risk Control & Self-Assessment (RCSA) processes and incident-management frameworks.
  • Ability to analyze, quantify, and communicate the financial implications of operational risks using statistical and analytical tools.
  • Strong leadership and communication skills, with the ability to influence senior stakeholders and collaborate across teams.
  • Track record of embedding effective risk frameworks into daily operations.
  • Experience leading or mentoring risk professionals or analysts.

Preferred:

  • Advanced degree (MBA, MS) or professional designation (FRM, CRM, PRM, CFA, CRMA (IIA) or CRISC (ISACA)).
  • Experience in investment management, pension funds, or large public-sector financial institutions.
  • Knowledge of business continuity planning, vendor risk management, and third-party oversight.
  • Familiarity with GRC (Governance, Risk, Compliance) technology platforms.
  • Experience developing risk metrics, dashboards, and board-level reporting.

Attributes for Success

  • Intellectually curious and proactive in identifying and addressing risk.
  • Skilled at managing multiple priorities in a dynamic environment.
  • Comfortable challenging the status quo and offering constructive alternatives.
  • Excellent interpersonal and communication skills.
  • Strong attention to detail, analytical rigor, and commitment to excellence.
  • Ability to turn data and insights into actionable recommendations.
SWIB Offers:
  • Competitive total cash compensation, based on AON (formerly McLagan) industry benchmarks
  • Comprehensive benefits package
  • Educational and training opportunities
  • Tuition reimbursement
  • Challenging work in a professional environment
  • Hybrid work environment
The position requires U.S. work authorization.
Pursuant to our Hybrid Remote Work Policy, all staff have the flexibility to work remotely, but are required to have a weekly presence in our offices, the frequency of which is dependent on their distance from office. Staff are not required to reside locally; however, we offer relocation reimbursement to the Dane County area per our policy.
All SWIB employees are subject to SWIB’s Ethics Policy and Personal Trade Approvals Policy. These policies include restrictions on outside business activities and employment and have limits on personal trading. You may request copies of these policies from SWIB’s talent acquisition team and any questions can be answered by SWIB’s compliance team.
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