Vice President Of Risk

The Challenge:
The Vice President of Risk will steer the organization's risk management strategy and play a pivotal role in safeguarding the credit union's stability, security, and sustainability in the face of various risks. The VP of Risk will formulate and execute comprehensive risk management strategies that fortify the institution against various forms of Risk, including credit, operational, and compliance risks and drive a culture of Risk awareness and accountability throughout the organization.
What You'll Do:
Enterprise Risk Management:
Maintain and continually enhance an enterprise-wide risk management framework that encompasses all facets of the credit union's operations. Regularly review and enhance the ERM framework to align with evolving organizational needs and industry best practices.
Maintain and enhance the credit union's business continuity program
Ensure the integration of Risk management seamlessly into the credit union's overall business strategy.
Establish a close collaboration with executive leadership to understand the organization's strategic objectives and integrate risk management into the decision-making process.
Provide insights and recommendations to executive leaders on risk-related matters.
Credit Risk Management:Ensure a comprehensive assessment of borrower creditworthiness and continuous monitoring of the loan portfolio.
Implement strategies to optimize the credit risk profile in alignment with organizational goals.
Develop, review, and maintain credit risk policies and procedures, ensuring they are in compliance with industry regulations and standards.
Regularly update policies to reflect changes in the regulatory landscape or credit environment.
Compliance and Risk Management In concert with the Legal/Compliance Department, constantly evaluate organizational compliance and the risk landscape related to new or changing regulations. Oversee the assessment and management of Risks associated with third-party vendors and service providers.
Ensure vendor activities align with the credit union's risk appetite and regulatory requirements
Transaction/Operational Risk Management (Including Fraud Oversight):Develop and implement strategies to identify, assess, and mitigate transactional and operational risks across all areas of the credit union's operations.
Oversee the management and oversight of the Fraud team, ensuring effective detection, prevention, and response to fraudulent activities.
Collaborate with the Fraud team to continuously enhance fraud detection methodologies and tools, staying ahead of emerging threats and trends in financial crime.
Implement robust controls and procedures to safeguard against operational failures and errors, minimizing the potential impact on the credit union's financial stability and reputation.
Conduct regular assessments of operational processes and systems to identify areas for improvement and optimization, driving efficiency and effectiveness while mitigating risks.
Ensure compliance with relevant regulations and industry standards pertaining to transactional and operational risk management.
Work closely with executive leadership to provide insights and recommendations on transactional and operational risk matters, aligning risk management activities with the credit union's strategic objectives.
Leadership and Professional Development Provide strong leadership and guidance to the risk management team, fostering a collaborative and high-performance culture.
Set clear expectations and priorities for the team.
Conduct regular performance evaluations for direct reports, offering constructive feedback and identifying opportunities for professional development.
Support team members in achieving their career goals.
Collaborate with other departmental managers to ensure a cohesive and effective risk management strategy across the entire organization.
Foster cross-functional collaboration to address integrated risks.
What You Need To Succeed:
Education & Experience Required: Bachelor's degree in Business, Finance, Risk Management, Communication or a related field; advanced degree and relevant certifications (e.g., CRCM, CIA, CISA) are highly desirable.
8 years progressive experience in financial institution risk management.
5 years of proven leadership experience in risk management, or related roles within the financial services industry.
Knowledge & Skills Required: Strong understanding of credit union operations, regulatory requirements, and industry best practices. Excellent analytical, problem-solving, and decision-making skills.
The ability to motivate or influence inside or outside senior level executives is a critical part of the job, requiring a significant level of influence and trust. Obtaining cooperation and agreement on important outcomes via frequently complex, senior level dialogue, as well as a professional level of written communication skills are essential to the position.
What You Can Expect:
We believe in diversity, equity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national origin, religion, age, sexual orientation, gender identity, gender expression, genetic information, individuals with disabilities, pregnancy, marital status, status as a protected veteran or any other status protected by applicable law.
Benefits and Perks
Employer-Paid Benefits:
Health Insurance (only employee premium paid)
Short and Long Term Disability
Life Insurance and AD&D
Benefits:
Dental & Vision Insurance
Health Care and Dependent Care Flex Spending Accounts
401K Plan with match (based on length of employment)
Perks:
Generous paid time off- Earn over 3 weeks of PTO during your first year of employment
Holidays- 11 observed holidays in addition to paid time off
Tuition reimbursement- Up to $5000 per year
Performance based Incentive program