EVP Chief Risk Officer

Published
September 2, 2020
Location
San Antonio, TX
Category
Job Type

Description

Purpose of Job

The EVP, Chief Risk Officer is the senior officer responsible for leading the corporate risk function at COMPANY and strategy for overseeing the risk of the enterprise, providing counsel to the board of directors, chief executive officer, and senior management. This executive is a member of COMPANY’s Executive Council. This executive is accountable for establishing a sound risk governance framework, standards, capabilities and execution of a proactive risk strategy across all of COMPANY’s lines of business including banking, insurance and wealth management. The executive is accountable for providing effective oversight of the company’s consolidated enterprise risk profile including financial as well as non-financial risks and ensuring appropriate resourcing and infrastructure to support the mandate of the function.

Job Requirements

Managerial Responsibilities

Serves as a member of the Firm’s Executive Council (EC):

  • Implements the firm’s strategy and risk tolerance approved by COMPANY’s board of directors.
  • Ensures safety and soundness and compliance with internal policies and procedures, laws and regulations, including those related to consumer protection.
  • Maintains and implements an effective risk management framework and ensures a firm appropriately manages risk consistent with its strategy and risk tolerance.
  • Manages day-to-day operations of a large financial company.
  • Ensures effective communication and information sharing across COMPANY (and in particular, the risk function).
  • Provides timely, useful, and accurate information to the board of directors.
  • Responds to direction from and information needs of COMPANY’s board of directors.
  • Ensures resolution of risk management issues (including those identified by the firm and outstanding supervisory matters), escalating issues to the board, and communicating issues internally.

In addition, serves as leader to the risk function which involves:

  • Leads design and execution of COMPANY’s risk strategy, taking into account COMPANY’s business strategy and complex regulations and nuanced supervisory expectations, including how they apply in a matrixed commercial environment.
  • Role models COMPANY’s mission, core values, culture and desired behaviors – including a culture of risk awareness and accountability.
  • Develops talent in the risk function to deliver performance and results – including the identification, development and retention of talent with requisite risk capabilities as well as providing leadership and overseeing performance management and staff development activities.
  • Supervises and drives operational strategy and planning of the risk function – including risk processes and technologies.
  • Oversees funding, budgeting and execution of risk initiatives and projects across the COMPANY’s core businesses and legal entities.
  • Holds self and others accountable to meet commitments by setting and clearly communicating expectations and roles and responsibilities.

Technical and Risk Responsibilities  

  • Establishes and maintains a 2nd line of defense that is appropriate for the size, complexity, and risk profile of COMPANY.
  • Leads the 2nd line of defense in identifying and assessing the enterprise’s risk profile relative to its established risk appetite, monitoring compliance with enterprise-wide risk limits, and providing timely, relevant risk information to senior management and the board of directors.
  • Escalates issues to senior management and the board of directors when activities or practices at the enterprise, risk-specific, and business-line level do not align with the enterprise’s overall risk tolerance.
  • Supports the independence of the 2nd line of defense from business lines by establishing clearly defined roles and responsibilities, and reporting lines.
  • Provides leadership and guidance to the enterprise’s core risk capabilities and programs, including related to risk associated with all CoSA activities, including P&C, FSB, USB, FASG, as well as activities associated with enterprise risk management, establishing and applying risk limits, CRO strategy and planning, enterprise compliance, be a compliance company program, and enterprise regulatory affairs.
  • Partners with Compliance and Legal on regulatory matters as they impact the enterprise, as well as information requests regarding compliance and regulatory filings.
  • Serves as point of contact for federal and state regulatory agencies for legal matters as they impact the enterprise.
  • Serves as the senior-most authority on technical risk concepts across all risk stripes (financial and non-financial risks).

Governance Committees

Interacts with or participates in enterprise governance committees, such as:

  • Executive Council
  • Risk Council
  • Ethics Council

Education & Experience

Education

  • Bachelor’s degree is required
  • Advanced degree such as MBA or JD is preferred.

Experience

  • A minimum of 20 years of experience in technical discipline (e.g. Risk) with a proven track record leading comparable operations and programs (e.g. ERM, stress testing, reporting etc.) through changing market cycles is required.
  • A minimum of 15 years of people leadership experience in building, managing and/or developing high-performing teams is required.
  • A minimum of 15 years of relevant experience in a large financial institution ($100 billion +), including 5+ years post-Dodd Frank, in a senior role within a risk function (e.g. an enterprise risk role) is required. 

Additional Knowledge Sets &/or Certifications

Regulatory Understanding*

Demonstrated understanding of the full spectrum of regulatory actions, including examinations and other supervisory engagement and processes, such as:

  • Dodd-Frank Act
  • Home Owners’ Loan Act
  • Fair Lending laws
  • Texas Insurance Code
  • New York Insurance Law

Federal regulations and supervisory guidance:

  • 12 CFR Part 238 (Regulation LL)
  • 12 CFR Part 252 (Regulation YY)
  • 12 CFR Part 223 (Regulation W)
  • 12 CFR Part 30, including Appendices A through E
  • 12 CFR 9 - Bank Fiduciary Activities
  • 12 CFR 25 -- Community Reinvestment Act
  • 12 CFR Part 46 (Annual Stress Test)

Federal Reserve Supervisory Guidance Documents: 

  • SR 12-17 (Consolidated Supervision Framework for Large Financial Institutions)
  • SR 08-08 (Compliance Risk Management Programs)
  • SR 14-9 (Incorporation of Federal Reserve Policies into the Savings and Loan Holding Company Supervision Program and related applicable guidance)
  • Bank Holding Company Examination Manual
  • Federal Reserve proposals concerning Board effectiveness and core principles of effective senior management, management of business lines, and independent risk management and controls
  • OCC Supervisory Guidance Documents:  Large Bank Supervision Handbook; Corporate and Risk Governance Handbook; and key OCC bulletins (Model Risk Governance; Model Risk Management; New Products and Services Risk Management; Third Party Risk Management)
  • FFIEC: BSA/AML Manual; IT/Cyber Handbooks
  • CFPB: Consumer Protection Regulations; UDAAP
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