First Merchants Bank is seeking a Senior Manager, Operational Risk Management to join our team! This position will lead, implement, and provide independent oversight of the Bank’s Operational Risk Management Program and supporting methodologies to promote effective identification, assessment, monitoring, mitigation, and reporting of operational risks across the enterprise. Partner with business leaders to strengthen risk management practices, provide credible challenge, and monitor operational risk exposures relative to the Bank’s Risk Appetite Statement, fostering a strong risk-aware culture that supports strategic objectives.
As part of this role you will:
- Lead and continuously enhance the Bank’s Operational Risk Management (ORM) Framework, ensuring alignment with regulatory expectations, industry best practices, the Bank’s risk appetite, and strategic objectives. Drive ongoing program maturity through periodic assessments, benchmarking, and process improvements.
- Provide independent oversight and credible challenge of operational risks arising from the Bank’s business activities, products, services, processes, and change initiatives. Ensure risks are appropriately identified, assessed, monitored, and managed.
- Serve as Chair of the Operational Risk Committee (ORC) and provide leadership across governance forums to facilitate effective risk oversight, escalation, decision-making, and accountability.
- Promote a strong operational risk culture and sound risk management practices across the organization through guidance, oversight, and challenge. Partner with business leaders to proactively identify emerging risks and strengthen operational resilience.
- Oversee the Key Indicator (KI) Program, ensuring indicators remain relevant, actionable, and aligned with risk appetite. Facilitate periodic reviews with business owners, challenge indicator design and threshold calibration, and ensure appropriate governance and documentation.
- Lead operational risk reporting and analytics, including the aggregation and analysis of key risk and performance metrics for executive management, risk committees, and board reporting. Facilitate timely and accurate quarterly reporting.
- Administer and oversee the New and Revised Products and Services Risk Assessment Program, ensuring material changes, products, services, and initiatives receive appropriate risk evaluation and challenge prior to implementation.
- Oversee the operational loss event management process, ensuring significant events, near misses, and emerging issues are appropriately investigated, escalated, documented, and remediated. Monitor corrective actions and challenge the adequacy of mitigation efforts.
- Guide and lead operational risk discussions for larger, high-risk, and enterprise-wide projects, including mergers, acquisitions, integrations, and other strategic initiatives, ensuring risks are appropriately identified, assessed, and escalated.
- Perform and oversee quarterly operational risk stripe risk assessments including evaluation of the Enterprise operational risk posture, risk trends, and emerging risk themes. Contribute to executive and board-level operational risk reporting and governance activities.
- Develop and mentor Operational Risk Management team members, fostering technical expertise, professional development, and a culture of accountability, collaboration, and continuous improvement.
To be successful in this role, we require the following:
- Bachelor’s degree in Business, Finance, Accounting, Risk Management, Economics, Law, or a related field of study.
- A minimum of eight (8) years of progressive experience in banking operations, operational risk management, enterprise risk management, internal audit, compliance, or related risk disciplines, including a minimum of three (3) years of experience in Operational Risk Management, second line/ERM oversight, or Internal Audit covering operational risk and providing independent oversight and credible challenge.
The following would be a plus:
- Minimum of 3-5 years of experience leading operational risk programs, governance activities, risk assessments, issue management, loss event management, key indicator programs, or similar risk management disciplines.
- Experience with Archer or other Governance, Risk, and Compliance (GRC) platforms.
- Professional certifications such as:
- Certified Risk Management Assurance (CRMA)
- Certified Internal Auditor (CIA)
- Certified Enterprise Risk Professional (CERP)
- Certified Risk and Compliance Management Professional (CRCMP)
- Certified Regulatory Compliance Manager (CRCM)
- Operational Risk Management (ORM) or similar banking risk certifications.
First Merchants offers the following:
- Base Pay PLUS Bonuses
- Medical, Dental and Vision Insurance
- 401k
- Health Savings and Flexible Spending Accounts
- Vacation/Sick Time
- Paid Holidays
- Paid Parental Leave
- Tuition Reimbursement
- Additional Benefits
A little about us:
First Merchants is guided by a genuine philosophy of being a meaningful place to work and having a prosperous impact across all walks of life throughout the communities we serve, including consumers, businesses and other organizations. Our Vision, Mission and Team statement reflect and reinforce that authentic service philosophy.
Our Vision is:
To enhance the financial wellness of the diverse communities we serve.
Our Mission is:
To be the most responsive, knowledgeable, and high-performing financial organization for our clients, teammates, and shareholders.
Our Team:
"We are a collection of dynamic colleagues with diverse experiences and perspectives who share a passion for positively impacting lives. We are genuinely committed to attracting and engaging teammates of diverse backgrounds. We believe in the power of inclusion and belonging."
Apply today to begin your career with us!
Equal Opportunity Employer/Protected Veterans/Individuals with DisabilitiesThis employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.
Skills Required
- Bachelor’s degree in Business, Finance, Accounting, Risk Management, Economics, Law, or a related field
- At least 8 years of progressive experience in banking operations, operational risk management, enterprise risk management, internal audit, compliance, or related risk disciplines
- At least 3 years of experience in Operational Risk Management, second-line/enterprise risk management oversight, or Internal Audit covering operational risk and providing independent oversight and credible challenge
- 3–5 years of experience leading operational risk programs, governance activities, risk assessments, issue management, loss event management, key indicator programs, or similar risk management disciplines
- Experience with Archer or other Governance, Risk, and Compliance platforms
- Professional certification such as CRMA, CIA, CERP, CRCMP, CRCM, or an Operational Risk Management or similar banking risk certification
First Merchants Corporation Compensation & Benefits Highlights
The following summarizes recurring compensation and benefits themes identified from responses generated by popular LLMs to common candidate questions about First Merchants Corporation and has not been reviewed or approved by First Merchants Corporation.
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Retirement Support — Retirement programs include a 401(k) with employer match and an employee stock purchase plan that are presented as meaningful components of total rewards. These elements are highlighted as strengths relative to other benefit components.
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Leave & Time Off Breadth — Time-off provisions include PTO, bank holidays, bereavement, paid parental leave, and paid volunteer time. These elements can help offset concerns about base pay in some roles.
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Parental & Family Support — Paid parental leave is explicitly offered and positioned alongside PTO and holidays to support family needs. This support contributes to a more balanced work–life setup.
First Merchants Corporation Insights
What We Do
First Merchants Corporation is the largest financial services holding company in Central Indiana, headquartered in Muncie, Indiana. The Corporation has one full-service bank charter, First Merchants Bank. The Bank also operates as First Merchants Private Wealth Advisors (as a division of First Merchants Bank). First Merchants Corporation’s common stock is traded on the NASDAQ Global Select Market System under the symbol FRME. First Merchants offers customers broad financial services throughout locations in Indiana, Ohio, Illinois and Michigan providing: • Commercial Banking (business) – checking, treasury management, card services, financing, loans, electronic banking, online and mobile banking. • Personal Banking (consumer) – checking, savings, CDs, mortgages, loans, IRAs, HSAs, online and mobile banking. • Private Wealth Advisors - trusts, investments, 401(k) plans, 403(b) plans, profit sharing plans, pension plans, cross-tested plans, cash balance plans, Flexible Spending Accounts, IRAs, SEP IRAs, and succession planning. First Merchants is committed to customers by: • Developing strong relationships. o As financial advisors – our professionals listen and provide solutions o The tenure of our professionals averages eight years, meaning you will enjoy continuity of service o We hire local professionals from the communities we serve • Customers benefit from local decision making. o Decisions are made faster o The process is streamlined, with each customer having a single point of contact. o Our financial professionals are empowered to develop tailored solutions. • The local communities we serve benefit from First Merchants’ involvement and support.
