Job Description
In accordance with applicable regulatory and industry guidelines, design, develop, and implement appropriate processes and systems to identify, measure, monitor and control risks enterprise wide. Responsible for implementing the Board’s risk management strategy to avoid, control, accept, or transfer identified risk exposures. In fulfilling the responsibilities of this position, the Chief Risk Officer is expected to oversee the Compliance, BSA, Information Security, Credit Risk and Loss Prevention functions. The Chief Risk Officer is responsible for annually planning, coordinating with the Chief Executive Officer, and recommending to the Risk Committee the structure, coverage, personnel, and budget of the Enterprise Risk Management function. The Chief Risk Officer will assess the performance of and make recommendations for hiring the heads of Compliance, BSA/AML/ATF, Information Security, Credit Risk, and Loss Prevention. Reports to the Chief Executive Officer for administrative purposes and the Board Risk Committee.
ESSENTIAL FUNCTIONS:
Oversees the development and implementation of comprehensive risk management policies, standards, and frameworks, for all areas of risk in alignment with the Bank’s Strategic Plan; requires broad knowledge of risks in all business lines of the Bank and frequent meetings with owners of those business lines.
Works with Executive Management, including the Chief Executive Officer, Chief Financial Officer, and Chief Credit Officer, to control, mitigate, or transfer relevant risks and periodically presents reports on the Bank’s risk exposure and the status of the Enterprise Risk Management framework to the Board Audit and Risk Committees.
Utilizes outside counsel appropriately to interpret regulatory and legal requirements applicable to the Banks’s operations and incorporate those requirements into the Enterprise Risk Management framework.
Utilizes consultants or third parties appropriately to assist in validating, enhancing, remediating, or outsourcing components of the Enterprise Risk Management framework.
Contributes risk management perspectives to the evaluation of new products and services or significant changes in existing products and services and advises management on appropriate controls.
Chairs a monthly Enterprise Risk Management Committee meeting.
Directs programs to monitor risk exposure and alignment with the Bank’s Risk Appetite Statement.
Assesses potential exposure due to residual and accepted risk and reviews the placement of appropriate insurance coverage, which is presented annually to the Board Audit and Risk Committees.
Utilizes appropriate resources to monitor macro and micro economic factors that can impact risk assessments; notify executive management of potential impact and recommend changes to the Enterprise Risk Management framework impacted by any changes that are identified.
Coordinates with internal and external auditors to align audit scope and coverage with Enterprise Risk Management risk assessments.
Advises senior management and the Board on risk-related issues and potential impacts to strategic decisions.
Promotes and supports Bank’s culture.
Qualifications
SKILLS, KNOWLEDGE, AND TRAINING:
Experience working with or at the Federal Deposit Insurance Corporation (FDIC) preferred.
Certified Regulatory Compliance Manager (CRCM) designation preferred.
Understanding of banking laws and regulations, including consumer compliance requirements (e.g., lending and depository regulations).
Excellent written and oral communication skills.
Strong problem solving and negotiation skills.
Excellent interpersonal skills including the ability to interact effectively and professionally with individuals at all levels; both internal and external.
WORKING CONDITIONS:
Sitting for extended periods of time.
Lift 10-20lbs periodically.
Periodic travel.
REQUIREMENTS:
Bachelor's degree in finance, business administration, mathematics, statistics and operations research or related discipline.
Minimum of 10 years of experience in applied risk management within the banking industry, with at least 5 years in a management role.
Broad understanding of all areas of risk, which include but are not limited to operational, credit, interest rate, liquidity, price, foreign exchange, transaction, compliance, legal, strategic, and reputation.
Broad knowledge of regulations, including but not limited to those applicable to compliance, legal, operations, information security, credit, liquidity, and capital.
In-depth understanding of bank operations and controls, including manual or systemic and preventive or detective controls and their appropriate use in the Enterprise Risk Management framework.
Experience with custom or off-the-shelf modeling, testing, and monitoring programs dealing with capital, stress testing, asset/liability systems, and other data-focused risk management and risk assessment.
Excellent analytical, problem-solving, and decision-making skills.
Effective communication and interpersonal skills, with the ability to interact confidently with stakeholders at all levels using strong written and verbal communication skills.
Demonstrated leadership ability with a track record of building and leading high-performing teams.
Professional certification preferred, such as Certified Enterprise Risk Professional (CERP), or Certified Risk Manager (CRM) or equivalent. Certified Regulatory Compliance Manager (CRCM); Certified Information Security Manager (CISM or equivalent considered.
Proven ability to work collaboratively in a dynamic and fast-paced environment.
Working knowledge of state and federal regulations including but not limited to Bank Secrecy Act, Consumer Privacy and Fair Lending along with industry best practices that pertain to this position.
SouthEast Bank is an equal opportunity employer. It is our policy to treat all individuals equally, regardless of race, color, religion, sex, gender, national origin, disability, age, genetic information, sexual orientation, transgender/gender identity, sexual preference, or service in the armed forces.
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