Principal Associate - Network Participant Risk Oversight Governance

Company: Capital One
Location: Richmond
Posted on: April 1, 2026

Job Description:

Principal Associate - Network Participant Risk Oversight Governance As a Principal Risk Associate at Capital One, you will be joining the newly created Network Participant Risk Management (NPRM) Team within the Operational Risk Management second line of defense. The NPRM team’s mission is to establish and launch the second line of defense Network Participant Risk Oversight program to enable value-add, independent second line of defense challenge and stewardship with regard to the risks Network Participants (e.g. issuers, acquirers, network alliances, etc.,) present to the Global Payment Network. As Principal Risk Associate on the NPRM Team, you’ll be responsible for working with business partners and other second line of defense teams to identify and mitigate potential risks to the Global Payment Network and Capital One. You will provide risk advice and guidance as well as effective challenge to the first line of defense regarding their risk taking decisions and activities. As a Principal Risk Associate, you will also support ongoing maintenance of the NPRM Policy & Standard and provide guidance to first line business areas on whether they are meeting Capital One’s program requirements. The overall NPRM team provides not only the governance structure for NPRM at Capital One, but also oversight and effective challenge in all areas of Network Participant Risk Management, from individual Network Participant situations (e.g., monitoring actions, issues and events) to larger bodies of risk that span a business area/ division (e.g., Risk Control Self Assessments, Process Level Assessments). As part of the larger Operational Risk Management (ORM) organization, you will work with talented associates to provide oversight and effective challenge to ensure that our businesses effectively manage operational risk overall. This includes enabling our organizations to maintain a sustainable and holistic operational risk profile in order to deliver superior products while also protecting our customers. You’ll also bring your unique perspective and experiences to help us be rigorous, curious and creative. Principal Risk Associates have a natural passion for managing risk with strong project, process and analytical skills. With these skills, they serve as change agents to effectively challenge business leaders on our highest profile risk projects. You will partner with key stakeholders in the first and second line to identify potential risks in an open, collaborative environment where new ideas and solutions are both welcomed and rewarded. Specific responsibilities of the NPRM Principal Risk Associate include and are not limited to: Serve as subject matter expert to Business Risk Office and Independent Risk Management (IRM) functions in the assessment of operational risk Supports 2nd line effective challenge activities working with key partners on Risk and Control Self Assessments, Process Level Assessments, Launch initiatives and others Maintenance of related policies and/or standards with regard to the Network Participant Risk Oversight Program Analyzes data to proactively identify risks and trends Provide guidance and support during audits and exams Ensure results of challenge activities are properly documented and communicated, and perform and support detailed validation data analysis to include trending, problem identification, and development/completion of remediation plans Consults on Issue/Event analysis and reporting functions to observe trends and provide insights on changes to the Network Participant risk environment Collaborate effectively across multiple organizations such as Operational Risk Management, Risk Oversight Programs, Enterprise Risk Management, Business Risk Office, Internal Audit, etc., to achieve objectives Demonstrates problem-solving and analysis skills with attention to detail Demonstrates strong communication, collaboration, and problem solving skills Balances multiple priorities to help drive business value and support team objectives, while managing tasks and activities related to risk management initiatives to support the Network Participant Risk Management team in a well-managed capacity Assists in the development of risks, issues and/or mitigation plans to ensure the business implements needed changes and addresses areas of exposure Basic Qualifications: High School Diploma, GED or equivalent certification At least 3 years of risk management experience within the financial services industry At least 2 years of experience in third party risk or risk governance oversight Preferred Qualifications: 4 years of risk management, compliance or legal oversight experience with a payments network 5 years of Project/Program Management experience leading cross functional programs in Risk Experience creating presentations with PowerPoint or Google Slides Risk management certification such as: Certified Third-Party Risk Professional (CTPRP), ABA Operational Risk Management At this time, Capital One will not sponsor a new applicant for employment authorization for this position. The minimum and maximum full-time annual salaries for this role are listed below, by location. Please note that this salary information is solely for candidates hired to perform work within one of these locations, and refers to the amount Capital One is willing to pay at the time of this posting. Salaries for part-time roles will be prorated based upon the agreed upon number of hours to be regularly worked. Riverwoods, IL: $109,900 - $125,400 for Principal Risk Specialist McLean, VA: $120,800 - $137,900 for Principal Risk Specialist New York, NY: $131,800 - $150,500 for Principal Risk Specialist Richmond, VA: $109,900 - $125,400 for Principal Risk Specialist Candidates hired to work in other locations will be subject to the pay range associated with that location, and the actual annualized salary amount offered to any candidate at the time of hire will be reflected solely in the candidate’s offer letter. This role is also eligible to earn performance based incentive compensation, which may include cash bonus(es) and/or long term incentives (LTI). Incentives could be discretionary or non discretionary depending on the plan. Capital One offers a comprehensive, competitive, and inclusive set of health, financial and other benefits that support your total well-being. Learn more at the Capital One Careers website . Eligibility varies based on full or part-time status, exempt or non-exempt status, and management level. This role is expected to accept applications for a minimum of 5 business days. No agencies please. Capital One is an equal opportunity employer (EOE, including disability/vet) committed to non-discrimination in compliance with applicable federal, state, and local laws. Capital One promotes a drug-free workplace. Capital One will consider for employment qualified applicants with a criminal history in a manner consistent with the requirements of applicable laws regarding criminal background inquiries, including, to the extent applicable, Article 23-A of the New York Correction Law; San Francisco, California Police Code Article 49, Sections 4901-4920; New York City’s Fair Chance Act; Philadelphia’s Fair Criminal Records Screening Act; and other applicable federal, state, and local laws and regulations regarding criminal background inquiries. If you have visited our website in search of information on employment opportunities or to apply for a position, and you require an accommodation, please contact Capital One Recruiting at 1-800-304-9102 or via email at RecruitingAccommodation@capitalone.com . All information you provide will be kept confidential and will be used only to the extent required to provide needed reasonable accommodations. For technical support or questions about Capital One's recruiting process, please send an email to Careers@capitalone.com Capital One does not provide, endorse nor guarantee and is not liable for third-party products, services, educational tools or other information available through this site. Capital One Financial is made up of several different entities. Please note that any position posted in Canada is for Capital One Canada, any position posted in the United Kingdom is for Capital One Europe and any position posted in the Philippines is for Capital One Philippines Service Corp. (COPSSC).

Keywords: Capital One, Centreville , Principal Associate - Network Participant Risk Oversight Governance, Accounting, Auditing , Richmond, Virginia