Risk Manager

Job Description

Job Description

OVERVIEW:

Responsible for the continued enhancement of the Enterprise Risk Management (ERM) program that includes the identification, analysis, monitoring and reporting of the operational and strategic risks the Bank faces in pursuit of its strategic objectives. Additionally, the Risk Manager will contribute to continuous improvements in the Bank’s enterprise risk management practices, documentation and monitoring.

PRIMARY ACCOUNTABILITIES / RESPONSIBILITIES:

1. Responsible to perform risk assessment of business functions, Bank products, and services on a periodic basis supported by process diagrams and control narratives; produce an annual report that summarizes ERM’s annual risk assessment results.
2. Contribute to the development of a coordinated control testing program that assesses the adequacy and effectiveness of the controls implemented by Management in the 1st Line of Defense. Summarize the results of periodic testing and provide periodic reporting to Bank Management and key stakeholders.
3. Serve as a risk liaison to business partners in each division. Consult with Business Line resources to enhance operational processes and controls on a continuous basis to minimize risk and achieve efficiencies. Provide guidance to business line stakeholders to facilitate risk identification, analysis, monitoring and communication of enterprise risks in conformance with established Bank policies and procedures.
4. Support the Chief Risk Officer in the continued maturity of the Bank’s Model Risk Management program, including maintenance of the model inventory, enhancements to the model identification and risk assessment process, model documentation, coordination of the Model Risk Working Group, establishment of model risk appetite statement and key performance indicators, coordination of independent third party model validation, and recurring results reporting to the Management and the Risk & Compliance Committees.
5. Oversight of the Bank’s Records Management program and policy including management of physical and digital records, monitoring compliance with retention schedules, and ensuring adherence to legal, regulatory and organizational records management requirements.
6. Responsible to maintain the Bank’s operational risk and control inventory in the Bank’s enterprise Governance, Risk and Compliance (GRC) platform and report periodic results to Management and the Enterprise Risk Committee.
7. Monitor emerging risks in the internal and external environment resulting from evolving business practices, new technologies, market shifts and/or industry trends.
8. Coordinates annual control testing as required by FDICIA Part 363 under the direction of the Chief Risk Officer. Coordinate the annual certification by the process owners to the completeness and accuracy of the controls in place to support Bank operations.
9. Develop and distribution of recurring ERM reporting (e.g. Divisional Risk Registers) including recommendations for continuous improvement.
10. Enhance departmental procedures and training materials.
    OTHER ACCOUNTABILITIES / RESPONSIBILITIES:

1. Performs other duties as assigned by Management.

POSITION REQUIREMENTS:

The successful candidate for this position must meet the following requirements:

• Bachelor’s degree in Business Administration with a major in accounting or finance.
• A minimum of five to ten years of direct risk management and/or internal audit experience, preferably within the banking or insurance industries.

Preferred experience/knowledge:

• Ten plus years of risk management and/or internal audit experience, preferably within the banking or insurance industries.
• Certified Internal Audit (CIA) designation from the Institute of Internal Auditors (IIA) or equivalent experience preferred.

Required Knowledge, Skills, and/or Abilities

• Strong knowledge of internal control concepts relative to banking organizations.
• Excellent analytical, planning organizational, communication, and decision-making skills.
• Knowledge of the Committee of Sponsoring Organizations of the Treadway Commission (COSO) Enterprise Risk Management Framework.
• Knowledge of The Institute of Internal Auditors’ (IIA) internal auditing standards.
• Familiarity with Service Organization Controls (SOC) reports and Complementary User Entity Controls (CUECs) identified within. The Risk Manager will work with Business Line resources to ensure that the CUECs for Bank products and services are appropriately documented in the Bank’s internal controls.
• Strong interpersonal skills; must be able to interface professionally and collaboratively with all levels of associates.
• Ability to work in a dynamic environment, handle multiple priorities and manage workload based on evolving business needs and regulatory expectations.
• Ability to work proactively and identify solutions to business problems with consideration for known constraints.
• Proficiency with the Microsoft Office suite (i.e. Word, Excel, Visio and PowerPoint).

SUPERVISORY SCOPE:

Not applicable.

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INDEPENDENT ACTION:

Establishes short-range plans aligned with the strategic Enterprise Risk Management objectives. The role is structured as a hybrid position.

QUALIFICATIONS:

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed above are representative of the knowledge, skill, and/or ability required. Any physical demands or work conditions described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.