Purpose of the Position
The Chief Risk Officer is responsible for creating, developing, deploying, and managing the necessary governance, risk and compliance policies and practices that support the strategic direction of the Credit Union in all areas related to risk management on an enterprise-wide basis. A critical, strategic leadership position for the credit union, the Chief Risk Officer will be accountable for identifying, measuring, and controlling both known and potential risks and exposures to avoid losses, and/or leverage opportunities through the coordination and implementation of appropriate risk management methodologies and practices. Responsible for the leadership and development of a team of 4-5 direct reports and 40+ indirect reports with accountability for these principal areas of strategic focus and responsibility:
- Enterprise Risk Management; Fraud Prevention; Regulatory Compliance; Audit; Legal
- Align risk management with strategy and performance measures.
- Continue to drive and implement Enterprise Risk Management, consistent with Council of Supporting Organizations (COSO) framework.
- Continue to drive and enhance the Enterprise Governance, Risk, and Compliance (eGRC) Platform that:
- Promotes resiliency through continual risk oversight and compliance monitoring
- Enhances agility by providing the organization with the data it needs to act on risks and opportunities
- Provides a pathway to maturity and scalability
- Streamlines eGRC management and increases efficiency
Key Responsibilities
- Develops strategies, leads, and ensures execution of the strategic plan and business plan.
- Lead, manage, and work with other key members of the executive team to determine goals, drive superior organizational results, and maximize member value.
- Demonstrate and champion organizational culture and company values as a member of the executive team.
- Participates in Executive Team and Board of Directors related functions, committees, and meetings.
- Participates in credit union strategic planning and provides strategic direction, vision, and leadership for the Compliance, Audit and Legal teams.
- Responsible for developing and executing risk mitigation strategy in support of the overall business plan and strategic direction of the organization, especially in the areas of cyber security, technology systems and resources, business intelligence, fraud, collateral protection, and required compliance.
- Serves as the primary contact for all regulatory examinations performed by NCUA and DFI-OCU and delegates all exam findings accordingly.
- Develops, implements, and monitors policies and procedures in accordance with credit union strategies.
- Serves as an Advisor or on Board Committees as assigned by CEO.
- Creates, oversees, and reviews contracts and agreements for the organization.
- Responsible for superintendence of all broker relationships.
- Responsible for servicing and sale income for the Credit Union.
- Oversees insurance coverage for the organization.
- Responsible for creation and review of all Credit Union policies.
- Provides discovery, implementation, and oversight on indirect lending programs and new income opportunities for the organization.
- Comply with all State and Federal Regulations as they pertain to your job duties, including BSA.
- Performs other duties as assigned.
The Candidate
Experience and Professional Qualifications
- 15+ years of related experience with at least seven years in a leadership position of a mid-to-large financial institution.
- Experience with NCUA and DFI regulators highly preferred.
- 10+ years of leadership experience within the risk-management discipline required.
- Demonstrated ability and history of producing exceptional business results.
- Excellent organizational skills and the ability to prioritize work.
- Ability to foster positive working relationships with the team, vendors, and other credit union departments.
- In-depth knowledge of legalities and financial regulations within a financial institution, strategies and methodologies and their application to business opportunities.
- In-depth knowledge of business operations, objectives, and strategies.
- Highly developed negotiation, facilitation and consensus building skills.
- Highly developed oral and written communication skills; strong presentation skills.
- Bachelor’s Degree or commensurate experience is required, master’s degree preferred.
Education
- Bachelor’s Degree or commensurate experience is required, master’s degree preferred.
SE# 510686746