Korn Ferry has partnered with our client in their search for their next VP – Head of Compliance & Enterprise Risk
The Opportunity
This is an exciting opportunity to join an innovative, financially stable, well-resourced organization poised for growth and regional expansion.
Reporting to the CFO and leading a 10+ person Compliance and Risk function, VP – Head of Compliance & Enterprise Risk will be a strategic partner to senior leadership to support current operations as well as longer term growth initiatives.
VP – Head of Compliance & Enterprise Risk is primarily responsible for the development and implementation of best practices to provide effective management of Enterprise Risk, BSA/AML, Compliance, and Fraud.
Key Responsibilities:
- Ensure compliance with a variety of regulatory requirements Stay current with emerging trends / changes with banking laws and regulations, such as the Bank Secrecy Act, USA PATRIOT Act, and other relevant anti-money laundering (AML) and counter-terrorism financing (CTF) regulations Y
- Conduct internal audits and reviews to ensure adherence to these regulations.
- Responsible for developing, implementing, and managing the Credit Union’s BSA/AML compliance program. This includes ensuring compliance with applicable laws and regulations, performing risk assessments, conducting customer due diligence, and monitoring transactions for suspicious activity.
- Prepare and submit regulatory reports, such as Currency Transaction Reports (CTRs) and Suspicious Activity Reports (SARs), to the appropriate authorities.
- Provide leadership and guidance to direct reports and their teams. Manage and develop a team of finance professionals, set performance goals, conduct performance evaluations, and provide training and mentoring.
- Collaborate with other departments to ensure effective coordination and alignment of financial functions.
- Lead training and awareness programs on BSA/AML compliance, fraud prevention, and regulatory requirements.
- As the BSA, Compliance, and Fraud Officer, collaborate with various stakeholders, including senior management, legal teams, internal auditors, and external regulators.
- Provide guidance and wise counsel on regulatory matters, industry trends, and best practices related to BSA, compliance, and fraud prevention.
- Act as liaison to the examiners and auditors, preparing for examinations, responding to inquiries, and providing documentation to demonstrate compliance with regulatory requirements
- Establish and maintain comprehensive policies and procedures related to BSA, compliance, and fraud prevention
- Create guidelines that align with regulatory requirements and industry best practices, ensuring employees understand their roles and responsibilities in combating financial crime and fraud.
Key deliverables, particularly within the next six to twelve months, are as follows:
- Establish oneself as a credible subject matter expert, identifying potential “quick wins”, and spending time managing productive and collaborative relationships with relevant stakeholders across the wider organization.
- Gain the respect of the full team, giving clear direction to the function and ensuring both the strategic and operational aspects of management are executed successfully.
- Set out clear actions and deliverables to build and develop the required in-house competencies through the establishment of best practices and capability building, understanding what “good” looks like.
- Spend time to understand the organization’s culture and values and the nuances of the working culture.
The Candidate
With a broad background across financial services, community banking/credit unions, and related organizations, the ideal candidate has a proven track record in Enterprise Risk Management and Compliance including experience with leadership and interaction with key stakeholders at various managerial levels and peers, training of staff in both risk specific skills and soft skills such as communication.
A tenured professional with at least 10+ years in a leadership position, they will be experienced in all relevant federal and state regulations, AML / BSA / KYC / OFAC, risk assessments, financial fraud, investigations and anti-fraud methodologies, business continuity, physical security, and enterprise risk.
With a growth mindset and desire for excellence, they bring a reputation for integrity and poise to balance business partnerships with the need to exercise independent judgement; to raise potentially sensitive or contentious issues timely and in a constructive manner.
A collaborative leader, the Head of Enterprise Risk & Compliance will possess strong oral/written communication, effective in interpersonal management, negotiation, problem-solving, with an ability to flex their style in relation to the target audience.
Note:
This role would be in the office 3 days a week. Candidates must be currently located or willing to relocate.
Salary range: $175k-$215k + bonus
SE# 510666654
