|The position is responsible for leading and managing all aspects of the Enterprise Risk Management program for the Credit Union. Incumbent is responsible for the strategy, execution, and oversight of the organizations comprehensive Enterprise Risk Management program, which includes Operations Risk, Credit Risk, and Market Risk, and integration of all risks to allocate appropriate Economic Capital based on risk exposure. Work involves proactively staying attuned to both the external and organizations continuously changing risk environment, and works in an integrated fashion with key stakeholders throughout the entire credit union to proactively address all risks. Work also involves developing and evaluating systems and processes associated with controlling and mitigating business risk. Resources to do the job require reliance on extensive experience and judgment to plan and accomplish goals utilizing a wide degree of creativity and latitude. Direction is received from the Vice President of Finance.
Risk Management Responsibilities:
- Lead Enterprise Risk Management (ERM) practice for the Alliant Credit Union, which includes the development and execution of an ERM framework and governance model, systems and processes, analytics and reporting for all dimensions of ERM, namely, Operational, Credit, and Market Risks
- Partner with senior management, functional risk managers, and frontline employees to demonstrate how enterprise risks interact with business processes, assess key risk drivers, and develop controls to proactively manage and mitigate risks. Ensure ownership accountability, and assist functional owners to proactively identify, assess, and mitigate risks
- Partner with internal auditors to establish an enterprise-wide framework that makes risks transparent and easily understood and quantified on a timely basis so process controls can be audited in an effective and efficient fashion
- Support the VP of Finance to develop / execute a holistic reporting and communication strategy across the enterprise, including the Board of Directors, Senior Management Team, peer managers, and frontline operations
- Integrate Operational, Credit, and Market Risks into Risk Managements risk-adjusted Economic Capital model so capital reserve can be planned in relation to risk exposures.
- Lead the quantification effort for Operational Risk. Leverage BASEL II framework and SAS Global Data; identify key risk indicators and construct loss models to quantify measures of operational risk
- Build risk awareness culture via education and brand management; develop and socialize ERM strategic plan with all key stakeholders; host quarterly ERM educational forums, and develop and update training curriculum for credit union employees
- Apply sound knowledge and practice of risk management principles to research, analyze, and collaborate with functional partners, recommend sustainable improvements to processes and systems while ensuring cohesion with organizational strategy; drive effective risk-based decision by adding and prioritizing risk components
- Provide leadership and a sustained focus to lead organizational teams (e.g. ERM Task Force); foster team environment of shared ownership for risk management execution
- Ensure risk management objectives and the use of innovative tools and solutions are integrated into financial, project and portfolio processes; demonstrate initiative and creativity in developing future strategies, approaches, plans, and goals for assigned business actions
- Continuously improve the Credit Unions risk management practice; launch initiatives to enhance processes, systems, and education when necessary
- Coordinate risk assessment activities with other processes including process engineering / reengineering across different functions to ensure alignment, efficiency and productivity
- Facilitate, develop and implement statistical and other quantitative risk assessment analysis tools
- Ensure business needs, questions, and concerns are addressed with accuracy and thoroughness, and within specified time frames; review complex requests and work to resolution in an equitable manner; ensure all actions are conducted in an ethical and professional manner
- Ensure that external and internal up-to-date information and trends are monitored and reported regularly, and proactively assess and recommend actions that may be required by the organization
- Apply great management practices in leading an engaged workforce as defined by Q12 Gallup process to effectively deliver the value of this function.
- Provide a structural and consistent approach to ensure that individual development plans are in place, performance management is consistent, performance management process is respected and followed, and coaching and feedback are provided on a regular and dynamic basis.
Suggested training and experience:
Education and/or Experience
Completion of a Bachelors degree in business administration or process-oriented engineering discipline, with 7 10 years of business experience, preferably in financial services or audit environment. Must be familiar with risk management concepts & practices, e.g. BASEL II, COSO, Sarbanes-Oxley. A strong background in modeling, mathematics, and/or statistics is important. Banking industry experience plus, MBA plus, six sigma experience plus, SAS OpRisk Monitor experience plus. Operational Risk experience and quantification highly desirable. Multi-tasking and project management skills helpful including the ability to deal with a heavy volume period with tight time parameters.
Leadership & Communication Skills
Must possess strong leadership, process, analytical, interpersonal, change management, written and verbal communication skills. Because this position is largely an analytical position, this position necessitates a strong ability to rationalize and to think and communicate at a conceptual level. Must be able to take theoretical concepts and apply them in an effective and practical manner through people. Must possess exceptional oral and written communications skills in order to communicate very detailed and very technical processes in a very simple and concise manner. Must possess strong consensus building abilities; also be able to lead large, complex, multi-affiliate working groups. Must have the ability to work effectively with associates at all levels within the organization, and the ability to initiate / sustain cultural change.
Must be proficient in MS Windows and MS Office. Must possess the desire and ability to learn computer modeling as well as other automated data analysis tools and techniques.
Certificates, Licenses, Registrations
Risk Management certifications are a plus, however, no special licenses or other certifications are required.