Manager Operational Risk
See yourself in our team:
Risk Management (RM) is responsible for developing the risk frameworks to allow the Group to take conscious exposures to credit, market, operational, compliance and insurance risks within the approved appetite.
The Group Support Units (GSU) Line 2 Risk team provide independent review and challenge of Non-Financial Risk Management activity within the Support Unit (SU) businesses (Marketing & Corporate Affairs, Financial Services, Group Strategy, Legal & Group Secretariat, Human Resources and Risk Management). The team includes a diverse group of Line 2 Operational Risk, Compliance and Assurance professionals.
See yourself in the team:
As an Operational Risk Manager, you will support the Senior Manager and Executive Manager to embed and monitor adherence with the Operational Risk Management Frameworks (ORMF). Your main focus will be to support operational risk activities across GSU, working with Line 1 and other Line 2 risk teams to ensure there is adequate implementation, management and oversight over the Group’s Frameworks.
Your day could look like but not limited to:
- Supporting operational risk management activities such as assessment of risks, controls, issues and incidents, with a focus on providing relevant insights linked to key business initiatives and key risks;
- Providing a ‘bigger picture’ as to how risk activities support the business in achieving its strategy;
- Applying industry and business knowledge to proactively identify and pursue meaningful risk activity;
- Performing ‘deep dives’ and other reviews to provide assurance and an independent Line 2 opinion on risk management;
- Reporting on risk exposures in preparation for Non-Financial Risk Committees or other risk reporting as needed;
- Building strong working relationships with Group Support Units, Line 1 risk and business stakeholders.
What successful candidates will look like?
We work in an outcomes driven environment, where the emphasis is on great team-work to achieve results. Ideally you will bring experience in operational risk, gained within financial services. You will also be able to demonstrate strong stakeholder management and critical thinking capabilities, with the ability to apply judgment to achieve pragmatic outcomes.
We're interested in hearing from people who have:
- Demonstrated experience in operational risk management within banking or financial services, including practical application of risk frameworks, risk assessments, controls, issue management and incident management.
- Strong knowledge of operational risk frameworks, tools and methodologies, with the ability to provide sound risk advice, constructively challenge stakeholders and influence risk-based decisions.
- Experience conducting risk monitoring, assurance and control testing activities, with the ability to translate findings into meaningful and sustainable risk improvements.
- A strong understanding of business processes, operational risks and internal controls within complex, highly regulated environments.
- Sound analytical capability, with the ability to interpret and analyse data, identify trends and emerging risk themes, and translate insights into actionable outcomes.
- A proactive, self-motivated approach, with a strong sense of accountability, ownership and commitment to delivering outcomes.
- Strong written and verbal communication skills, with the ability to tailor the level of detail and messaging to suit different audiences and stakeholders.
- A curious and inquisitive mindset, with a genuine interest in understanding how things work, challenging the status quo and identifying opportunities for improvement.
- A collaborative and outcomes-focused approach, with a commitment to delivering high-quality work and positive stakeholder outcomes.
If this sounds like the role for you then we would love to hear from you. Apply today!
At CommBank, we're committed to creating an accessible, inclusive and respectful workplace. If you require support or adjustments, please let us know. We welcome applications from people of all backgrounds and we're particularly committed to making a positive difference for Aboriginal and/or Torres Strait Islander Peoples. For support please contact 1800 989 696.
If you're already part of the Commonwealth Bank Group (including Bankwest, x15ventures), you'll need to apply through Sidekick to submit a valid application. We’re keen to support you with the next step in your career.
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Skills Required
- Demonstrated operational risk management experience within banking or financial services
- Practical application of risk frameworks, risk assessments, controls, issue management, and incident management
- Strong knowledge of operational risk frameworks, tools, and methodologies
- Ability to provide risk advice, constructively challenge stakeholders, and influence risk-based decisions
- Experience conducting risk monitoring, assurance, and control testing activities
- Understanding of business processes, operational risks, and internal controls in complex regulated environments
- Analytical capability to interpret data, identify trends and emerging risks, and develop actionable outcomes
- Proactive, self-motivated approach with accountability and ownership
- Strong written and verbal communication skills
- Curious and inquisitive mindset with the ability to challenge the status quo
- Collaborative, outcomes-focused approach
Commonwealth Bank Compensation & Benefits Highlights
The following summarizes recurring compensation and benefits themes identified from responses generated by popular LLMs to common candidate questions about Commonwealth Bank and has not been reviewed or approved by Commonwealth Bank.
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Leave & Time Off Breadth — The bank offers additional Life Leave, the option to purchase up to four extra weeks, pet leave, and paid volunteering leave alongside flexible-working options. Public materials indicate these leave features compare well within Australian banking.
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Parental & Family Support — Permanent employees can access up to 18 weeks of paid parental leave, and superannuation is paid for up to 34 weeks of unpaid parental leave. These provisions extend support for new parents beyond standard settings.
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Wellbeing & Lifestyle Benefits — Access includes CBHS Health Fund, Fitness Passport, a 24/7 wellbeing platform with telehealth, an Employee Assistance Program, and employer‑paid income protection for up to two years, alongside staff banking perks and share plans. This combination provides day‑to‑day value across health, protection, and financial perks.
Commonwealth Bank Insights
What We Do
Australia’s leading provider of financial services including retail, premium, business and institutional banking, funds management, superannuation, insurance, investment and sharebroking products and services. We are a business with more than 800,000 shareholders and over 52,000 employees. We offer a full range of financial services to help all Australians build and manage their finances.
