The Chief Risk Officer (CRO) has responsibility for the overall direction of the organization’s risk management function. The CRO serves as an advisor to executive management and to the Board of Directors of Midsouth Bank in the areas of enterprise risk management, audit and compliance.
The CRO will provide insight and guidance in aligning business strategy while identifying and managing risks. The CRO will be responsible for promoting effective corporate governance and maintaining a strong compliance culture. The CRO must have a strong understanding of the symbiotic relationship between business performance and risks.
Business Line Leaders will view the CRO as a peer and they will nurture a collaborative relationship. The CRO will report to the CAO and to the Board’s Audit Committee.
- Manages the Bank’s overall enterprise risk management efforts; serves as an advisor to executive management and the holding company and bank boards.
- Administer and oversee the areas of ERM, Operational Risk, Compliance and Audit lines of business activities and personnel
- Facilitates liaison support with external regulatory or legal bodies on risk management issues.
- Works in coordination with a variety of areas to determine and advise on risk management profiles and strategy which ensures all possible precautionary actions or measures are taken in origination or administration. Provides counsel to business unit managers on risk management issues.
- Has direct involvement in the evaluation of a variety of high-level internal initiatives with respect to their impact on the Company’s risk profile.
- Ensures that internal policies and practices reflect the bank’s risk appetite and that any changes in law or regulations are considered and applied; recommends changes to policies and procedures to minimize the Company’s risk.
- Maintains a high level of working knowledge of banking laws and regulations; reads and interprets various publications and circulars; attends seminars and meetings with peers.
- Oversees and monitors the Company’s SOX processes and works with Internal Audit Department to ensure the organization’s activities are adequately controlled.
- Chairs the Enterprise Risk Management (ERM) Committee and serves on other internally assigned committees
- Ensure strategic objectives are translated into tactical business plans with mechanisms for key measurements in place to monitor progress to completion.
- Responsible for enterprise-wide risk management programs.
- Assure that the Bank is in compliance with its internal operating policies and procedures and any external legal, regulatory, or contractual requirements.
- Champion high levels of ethical awareness and conduct within the Bank, including the conduct of independent investigations of potential ethical problems or conflicts of interest and notifying the CEO and management as appropriate.
- Ability to analyze trends, identify gaps and make links between regulatory landscape, emerging market trends and risks, and governance, risk and control culture.
- Responsible for the development, oversight and implementation of core ERM tools including risk identification, assessment of risk on the operations and mission, prioritization, development and implementation of response to mitigation plans, monitoring, reporting templates and communications tools.
- Facilitate and complete the annual entity wide risk assessment to be presented to the bank’s Board of Directors and Risk Committee
- Maintain a positive working relationship with external auditors and regulatory agency personnel
- 15+ years of experience in risk management, financial industry experience and reporting to the board of directors or senior level management
- Strong business acumen and problem-solving skills
- Deep knowledge of current trends in Risk, Compliance, Finance, Tax, Treasury and Financial Crime
- Experience in assessing component risks relative to business plans or business models.
- Strong understanding of processes and core management activities
- Outstanding interpersonal skills and communication skills to effectively communicate complex thoughts and ideas to all levels of the organization
- Ability to work under fire. Effectively communicating while under pressure of a crisis
- Bachelor’s degree in relating field. MBA or CPA or certified in enterprise risk management strongly preferred
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is regularly required to stand, sit and walk. The employee frequently is required use hands to finger, handle, or feel; and reach with hands and arms. The employee is required to talk and hear. The employee must frequently lift and/or move up to 30 pounds. Specific vision abilities required by this job include close vision and distance vision.