The State of Wisconsin Investment Board (SWIB) is one of the largest public pension fund managers in the United States, overseeing more than $170 billion in assets under management. SWIB’s mission is to generate strong investment returns and maintain the financial security of the Wisconsin Retirement System through disciplined, innovative investment and risk-management practices. We operate with a strong culture of accountability, integrity, collaboration, and operational excellence.
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.
What We Offer
SWIB offers an environment defined by professional integrity, innovation, and mission alignment. As part of our Legal, Compliance & Risk team, you’ll have the opportunity to shape how SWIB manages operational resilience across the organization. Fully remote work in not permitted; SWIB offers a hybrid policy that requires partial in office presence.
We provide competitive compensation, robust benefits, and professional development support — all within our modern offices in Madison, Wisconsin.
About SWIB
The State of Wisconsin Investment Board (SWIB) is one of the largest public pension fund managers in the United States, overseeing more than $170 billion in assets under management. SWIB’s mission is to generate strong investment returns and maintain the financial security of the Wisconsin Retirement System through disciplined, innovative investment and risk-management practices. We operate with a strong culture of accountability, integrity, collaboration, and operational excellence.
