Svp, Enterprise Risk Management

Salary Range:

$180,000.00 To 220,000.00 Annually

JOB SUMMARY:

The SVP Enterprise Risk Management is responsible for directing, executing, and developing the Company’s Enterprise Risk Management (ERM), Vendor Management and Model Risk Governance program. This position reports to the EVP, Chief Risk Officer and will be expected to work closely with all aspects of the organization’s operational and executive leadership to identify, assess and mitigate the high priority risks of the organization. The SVP ERM is expected to exhibit a high degree of credibility and influence on risk related matters. As a Vendor Manager, the primary role is to identify and mitigate risk related to the hiring of third-party vendors. This role will work closely with all relationship owners, as well as with the Legal team to align with client obligations.

The individual utilizes excellent communication skills, both written and verbal, to communicate complex issues in a simple manner to management, executives, committees and the Board.

DUTIES:

• Works with business units to coordinate New product and service risk assessments that are determined to be appropriate through best practices, and as required by regulations.
• As a member of the Executive Leadership Team, utilizes strategic thinking and action to drive the business forward and generate member value.
• Creates and delivers risk reporting presentations and activities of the ERM program to executive management and risk management committees and supports further risk reporting by the CRO to the Audit Committee or Board of Directors.
• Establishes and promotes the ERM risk framework, in conjunction with the vision of the EVP, and directs and coordinates an enterprise-wide risk management program that includes all aspects of risk to the organization.
• Utilizes excellent communication/influence skills to clearly communicate complex information both written and verbally, including reports; presentations; group facilitation skills; and the ability to develop strong professional relationships and networking internally/externally.
• Directs the completion of annual risk assessments across the enterprise as required under the Risk Management program and regulatory requirements.
• Directs and contributes to providing a comprehensive set of ERM tools, practices and policies to analyze and report enterprise risks, including the analytical, systems and data management capabilities to support the risk management programs; consolidating and integrating ERM tools and functions (policies, control documentation, assessments, metric reporting); and implementing a set of risk metrics and reports.
• Reviews key performance indicators/metrics and assists management in the early identification of risk.

Vendor Management:

To oversee and participate in the day to day managing of the Vendor Management process to include: involvement in the review of all critical contracts and vendor agreements, participation in all audits of the vendor management process, maintaining an active role in addressing any issues and the resolution required to resolve the issue, and assisting business owners in ensuring that all critical contracts have had the required due-diligence performed to meet the Risk Management and Audit guidelines.

• Ensures that required contracts on are file and undergone proper legal and compliance reviews.
• Interacts with business owners, as necessary, to assist in due diligence activities to include review of vendor financial performance, reputation reviews, business continuity plans/testing results, internal controls reports (e.g. SSAE 18's), contract review, adequacy of insurance, SLA's and on-site vendor reviews, when warranted.
• Vendor Management policies, processes, workflows, technologies, and procedures as needed.
• Stays current of any Vendor Management regulatory requirements and changes as well as industry best practices that would influence the Vendor Management program.
• Maintains a Bank wide vendor database capturing, categorizing, and risk rating vendors and their subcontractors, when appropriate;
• Performs periodic validation of business owners monitoring activities in line with program requirements.
• Identifies, measures, and assesses risk associated with third party vendor relationships, and as needed, interacts with the business owners to identify or establish mitigation strategies of mitigate identified risks.

Model Risk Governance:

Independently reviews and approves Models and User-Defined Applications ("UDA") for use in conducting Bank business. Ensuring such applications demonstrate sufficient quality to achieve Bank’s Strategic and Regulatory objectives.

• Leads the design, development, implementation and maintenance of a best practice model risk governance framework and policies across the Bank.
• Manages the model risk governance policies and audit. Develops and maintains model and risk related policies and standards; maintains model inventory.
• Develops and maintains a comprehensive model inventory, including all required documentation.
• Leads the regulatory interactions regarding model governance matters.
• Monitors for new regulation and developments in relation to model risk management.
• Reports to senior management and Board committees on model risk issues.

Audit:

• Ability to assist in audit planning process and establish Risk based methodology around audit universe
• Knowledge of FDICIA concepts and ability to coordinate with Internal Audit and Business Units to ensure established controls align with process workflows and narratives.

QUALIFICATIONS:

• Bachelor’s Degree in Risk Management, Business Administration, or a related field and 10+ years of experience in risk management, audit and banking. Minimum of five (5) years supervisory experience required.
• Must have strong underlying knowledge of regulatory frameworks within federally insured depository institutions.
• Advanced degree (e.g. MBA) and/or job-related certifications are preferred, but not required.
• Strong interpersonal, oral and written communication skills and the ability to partner with business owners as a risk and compliance subject matter expert for their business cases and / or other project related matters to Senior Management.