The Chief Risk Officer (CRO) has responsibility for the overall direction of the organization’s risk management function. In conjunction with senior management, the Enterprise Risk Management Committee, and/or the Board of Directors, formulates the organization’s risk management policies and application throughout the organization. The CRO serves as an advisor to executive management and to the Board of Directors of Company Financial Group Inc., and Company in the areas of enterprise risk management.
- Manages the Bank’s overall enterprise risk management efforts; serves as an advisor to executive management and the holding company and bank boards.
- Facilitates liaison support with external regulatory or legal bodies on risk management issues.Assists regulatory agencies and/or auditors’ inquiries; reviews; writes related policies and procedures; makes recommendations to executive management when and where appropriate; submits reports to the Audit Committee and the Board of Directors detailing the Bank’s enterprise risk management program.
- 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.
- Directs staff in establishing risk management procedures and standards; develops risk management analysis reports and approval procedures and guidelines on risk limits; establishes and coordinates management and administrative procedures to ensure adherence to risk policies.
- 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.
- Works in conjunction with key leaders when investigating high risk situations (i.e. legal, contractual, credit, personnel, regulatory, etc.)
- Works with Company’s Director of Human Resources to ensure that the company’s executive compensation practices have been reviewed with respect to risk management standards. Performs Annual Risk Assessment of Incentive Compensation Programs and presents to the MOFG Compensation Committee.
- 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.
- Reviews internal and external audits and certifications of bank operations.
- 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 MOFG Executive Compliance Committee and serves on other internally assigned committees including, Asset/Liability, Enterprise Risk Management, MOFG Senior Management Committee and Strategic Planning Committee.
- Other duties may be assigned.
The Chief Risk Officer supervises the Bank’s Loan Review, Internal Audit, Compliance, and BSA Departments as well as the Bank’s In-House Counsel to ensure that management responsibilities in accordance with the Company’s policies and applicable laws are carried out. Ensures effective staffing and is responsible for the mentorship and development of direct reports which ensures an engaged and productive work team.
EDUCATION AND/OR EXPERIENCE:
Bachelor’s degree from an accredited university with 10 to 15 years of related work experience and training; or the equivalent combination of education and experience. Work related experience should consist of an in-depth background in compliance and risk management leadership, finance, community banking, and management. Work experience should also include successful completion of a variety of in-house training and development programs, formal banking school and other technical training applicable to the financial industry.