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Privacy Risk Consultant (Risk Monitoring & Assurance) - Job Opportunity at Mutual of Omaha

Remote, US
Full-time
Mid-level
Posted: August 17, 2025
Remote
USD 97,000 - 128,500 per year

Benefits

Comprehensive 401(k) retirement plan with generous 8% total company contribution (2% automatic plus 6% match) - significantly above industry standard of 3-4%
Enhanced work-life balance package including vacation, personal time, and paid holidays - demonstrating commitment to employee wellbeing
Annual performance bonus opportunity providing additional earning potential beyond base compensation
Remote work flexibility eliminating commute costs and providing geographic independence

Key Responsibilities

Lead enterprise-wide privacy risk assessments and compliance reviews, directly influencing organizational risk posture and regulatory standing across all business units
Design and implement comprehensive monitoring and testing frameworks for privacy controls, establishing the foundation for proactive risk management and regulatory compliance
Develop strategic risk management infrastructure including process mapping, KRI development, and governance documentation that scales with organizational growth
Provide expert regulatory guidance on emerging privacy and AI regulations, positioning the organization ahead of compliance requirements and competitive risks
Serve as privacy risk translation expert, bridging technical, legal, and business domains to enable informed decision-making across all organizational levels

Requirements

Education

Bachelor's degree in Internal Audit and/or Master's degree in Information Systems, Computer Science, or Data Science preferred

Experience

1-3 years of experience with internal or external audits, especially in highly regulated industries preferred

Required Skills

Strong background in privacy, compliance, or audit, with experience applying regulations like HIPAA, GLBA, CCPA, GDPR, and U.S. AI laws to real-world business practices Knowledge of Generative AI, machine learning, cloud-based data platforms (e.g. AWS, Snowflake), metadata management, data governance, data lifecycle management Experience leading or supporting risk assessments, audits compliance reviews, or compliance monitoring Strong communication, documentation, and stakeholder engagement skills Comfort working in a highly regulated environment with competing priorities Knowledge of Agile environments and risk-based compliance or audit programs Experience with information security measures and protocols, technical privacy tools, or data lifecycle concepts
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Sauge AI Market Intelligence

Industry Trends

The financial services industry is experiencing unprecedented regulatory scrutiny around data privacy, with new state-level privacy laws emerging beyond California's CCPA, creating demand for specialized privacy risk professionals who can navigate complex multi-jurisdictional compliance requirements. The convergence of traditional financial regulations like GLBA with modern privacy frameworks is creating a specialized niche requiring deep cross-regulatory expertise. Artificial Intelligence governance is becoming a critical business imperative as financial institutions increasingly deploy AI for underwriting, customer service, and risk assessment, while regulators develop new frameworks for AI transparency and bias prevention. Organizations are scrambling to build AI governance capabilities before regulatory requirements solidify, creating high demand for professionals who understand both privacy law and AI technical implementation. The shift toward second-line-of-defense privacy programs reflects industry maturation in risk management, moving beyond reactive compliance to proactive risk monitoring and control testing. This represents a significant evolution from traditional legal-based privacy programs to enterprise risk management approaches, requiring professionals with both regulatory knowledge and risk management frameworks expertise.

Salary Evaluation

The offered salary range of $97,000-$128,500 is highly competitive for this role level and geographic flexibility, sitting approximately 15-20% above national averages for similar positions due to the specialized skill requirements and remote work premium. The combination of privacy expertise, AI knowledge, and second-line-of-defense experience in financial services commands premium compensation, with total compensation potentially reaching $145,000+ including bonus opportunity.

Role Significance

Typically operates within a 3-5 person privacy risk team reporting to Chief Privacy Officer or Chief Risk Officer, with matrix relationships across IT, Legal, Compliance, and Business Units. The role serves as a bridge between multiple departments and often leads cross-functional working groups of 8-12 professionals on major privacy initiatives.
This is a mid-level specialist role with high strategic impact, operating as a subject matter expert within the second line of defense framework. The position combines individual contributor responsibilities with enterprise-wide influence, requiring independent decision-making on complex privacy risk matters while collaborating across all organizational levels from technical teams to executive leadership.

Key Projects

Implementation of comprehensive AI governance frameworks including model risk management for machine learning algorithms, bias testing protocols, and explainability requirements for consumer-facing AI systems Multi-state privacy law compliance program development addressing varying requirements across CCPA, Virginia CDPA, Connecticut CTDPA, and emerging state regulations Cloud data governance program establishment for major platform migrations involving sensitive customer data across AWS, Azure, or Snowflake environments Privacy-by-design integration into product development lifecycle for new insurance products and digital customer experience platforms

Success Factors

Deep technical understanding of modern data architecture combined with practical regulatory application skills, enabling effective risk assessment of cloud-based systems, AI models, and data lakes that traditional privacy professionals often struggle to evaluate comprehensively. Exceptional stakeholder management capabilities to influence without authority across highly technical engineering teams, risk-averse legal departments, and business units focused on growth objectives while maintaining productive collaborative relationships. Proactive regulatory intelligence and trend analysis skills to anticipate emerging requirements and position the organization ahead of compliance deadlines, rather than reactive scrambling that characterizes many privacy programs. Strong documentation and communication abilities to translate complex technical privacy risks into executive-level business impact assessments that drive appropriate resource allocation and strategic decision-making.

Market Demand

Extremely high demand driven by regulatory expansion, AI governance requirements, and talent scarcity in the specialized intersection of privacy law, financial services regulation, and enterprise risk management frameworks.

Important Skills

Critical Skills

HIPAA, GLBA, CCPA, and GDPR regulatory expertise is absolutely essential as these form the foundation of daily decision-making and risk assessment activities, with practical application experience being more valuable than theoretical knowledge due to the complexity of real-world implementation scenarios AI and machine learning technical understanding is becoming increasingly critical as financial services rapidly deploy these technologies, and privacy professionals without this knowledge cannot effectively assess risks or develop appropriate governance frameworks Enterprise risk management and second-line-of-defense methodologies are fundamental to the role structure and organizational expectations, requiring understanding of risk assessment frameworks, control testing, and governance documentation Cross-functional communication and stakeholder management abilities are essential for success given the role's requirement to influence technical, legal, and business teams without direct authority

Beneficial Skills

Cloud platform expertise (AWS, Snowflake, Azure) significantly enhances effectiveness as financial institutions continue major cloud migration initiatives requiring privacy impact assessments and ongoing monitoring capabilities Agile methodology knowledge facilitates integration with modern software development practices and DevOps environments where privacy-by-design principles must be embedded in rapid development cycles Information security background provides valuable context for privacy risk assessment and enables more effective collaboration with cybersecurity teams on overlapping data protection initiatives Audit and compliance program management experience accelerates effectiveness in developing monitoring programs and documentation frameworks that meet both internal and external audit expectations

Unique Aspects

Second-line-of-defense framework implementation represents sophisticated risk management maturity typically found in much larger financial institutions, indicating significant organizational investment in enterprise risk capabilities and providing exposure to best-practices frameworks
Specific focus on AI governance and monitoring creates cutting-edge experience in an area where regulatory frameworks are still developing, positioning the professional at the forefront of emerging compliance requirements
Combination of traditional insurance regulatory environment (state-based) with modern privacy law requirements creates unique cross-regulatory expertise valuable across financial services industry
Remote-first approach for this specialized role demonstrates organizational commitment to accessing top talent regardless of location, while providing flexibility increasingly valued by privacy professionals

Career Growth

Career progression typically accelerates rapidly in this field due to talent scarcity, with senior role opportunities emerging within 18-24 months for high performers, and C-level opportunities within 4-6 years given the specialized skill combination.

Potential Next Roles

Senior Privacy Risk Manager or Privacy Risk Director roles within 2-3 years, leading larger teams and enterprise-wide privacy strategy development Chief Privacy Officer positions at mid-size financial institutions or fintech companies within 4-5 years, particularly given the specialized AI and technical expertise Privacy consulting practice leadership at major consulting firms, leveraging the combination of financial services domain knowledge and emerging technology expertise Product counsel or privacy engineering leadership roles at technology companies, applying the risk framework expertise to product development

Company Overview

Mutual of Omaha

Mutual of Omaha is a Fortune 500 mutual insurance and financial services company founded in 1909, with over $35 billion in assets and serving more than 5 million customers across insurance, retirement, and investment products. The company has undergone significant digital transformation initiatives in recent years, modernizing legacy systems and expanding digital customer engagement capabilities.

Established mid-tier player in the insurance and financial services market with strong Midwest presence and growing national footprint, competing effectively against larger firms through specialized product offerings and customer service excellence while maintaining the stability and customer focus characteristic of mutual company structures.
The remote nature of this role reflects the company's strategic expansion beyond its traditional Nebraska headquarters, accessing national talent markets while maintaining cost advantages compared to coastal financial centers, positioning the hire as part of a distributed team model increasingly common in financial services.
Traditional mutual company values emphasizing long-term customer relationships and employee stability, combined with accelerated modernization efforts creating a dynamic environment balancing established processes with innovative technology adoption and agile methodologies.
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