Job Description

Position Overview:

The Enterprise Risk Manager will oversee the comprehensive assessment, management, and implementation of risk mitigation strategies for a financial institution, such as a credit union. The successful candidate will ensure that the organization is not exposed to unnecessary risks that could impact its earnings, net worth, reputation, or strategic goals. This role requires deep expertise in managing various risk categories, including credit, interest rate, liquidity, compliance, transaction, strategic, reputation, and concentration risks.

Key Responsibilities:

Risk Identification and Assessment:

• Evaluate and monitor all categories of risk, including Credit Risk, Interest Rate Risk (IRR), Liquidity Risk, Transaction Risk, Compliance Risk, Strategic Risk, Reputation Risk, and Concentration Risk.
• Assess emerging risks arising from changes in market conditions, regulations, and organizational strategies.

Credit Risk Management:

• Analyze activities involving credit investments and loan portfolios to ensure repayment risks are mitigated.
• Use risk indicators to identify potential threats and develop effective mitigation strategies.

Interest Rate Risk (IRR) Management:

• Assess risks related to changes in market interest rates, such as repricing risk, basis risk, yield curve risk, and options risk.
• Evaluate financial impacts from accounting and economic perspectives.

Liquidity Risk Management:

• Ensure the credit union can meet obligations without incurring material costs or unacceptable losses.
• Implement tools to manage funding sources and quickly adapt to market changes.

Compliance and Regulatory Oversight:

• Monitor adherence to current and prospective laws, rules, regulations, and ethical standards to avoid legal penalties and reputational damage.
• Design protocols and controls to address complex compliance risks.

Transaction and Operational Risk Management:

• Oversee internal processes and ensure strong controls are in place to prevent fraud or operational errors.
• Collaborate with IT and operations teams to safeguard the integrity of information systems and processes.

Strategic and Reputation Risk Management:

• Align the organization's strategic goals with its risk appetite to ensure robust business decision-making.
• Protect the organization’s public image and relationships by addressing reputation risks across various channels and interactions.

Risk Indicators and Reporting:

• Develop dashboards and risk indicators to communicate risk exposure to stakeholders effectively.
• Provide risk reports and analyses to senior executives and regulators as required.

Qualifications and Skills:

• Technical Expertise:
• In-depth knowledge of financial and operational risk principles and risk categories relevant to credit unions.
• Familiarity with cloud and AI fundamentals, as digital transformation increasingly affects risk management processes.
• Analytical and Project Management Skills:
• Proficiency in data analysis, reporting, and the use of metrics to assess risk success and ROI
• Strong change management skills, facilitating smooth adoption of new tools and processes

Certifications Preferred:

• Agile Analysis Certification (AAC), Certified Business Analysis Professional (CBAP), Certified Change Management Professional (CCMP), Project Management Professional (PMP), or other recognized risk-related or compliance certifications.

Soft Skills:

• Leadership and strategic planning to align corporate goals with risk management strategies
• Strong communication skills to liaise across departments, external stakeholders, and regulators effectively.

Additional Experience:

• Bachelor's Degree in Business Administration, Finance or Economics
• Must have experience in Banking, Credit Union, Wealth Managment or Financial Services.
• 5+ years of experience

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