Job Description

Job Description

Job Description

Title: Director, Risk Management

Reports to: Chief Risk Officer

Supervises: Senior Risk Manager & Compliance Officer

Status: Exempt

Objective

The Director of Risk Management is responsible for leading and managing key elements of the Credit Union’s Risk Management Programs. Incumbent is responsible for the strategy, execution, and oversight of the organization’s Risk Management programs, which includes Compliance Risk, Fraud Risk, Record Retention and Vendor Management Risk. Work involves proactively staying attuned to both the external and organization’s continuously changing risk environment and works in an integrated fashion with key stakeholders throughout the entire Credit Union to proactively address the risks. Work also involves developing and evaluating processes and risk metrics associated with controlling and mitigating business risk. Resources to do the job require reliance on extensive experience and judgment to plan and accomplish goals.

Duties and Responsibilities

• Provides leadership and direction in the establishment of effective risk management programs
• Develops and executes management plans for risk mitigation
• Monitors the effectiveness of operations and the status of any needed changes
• Ensures the Credit Union maintains compliance with all applicable laws and regulations without incurring excessive implementation and support costs
• Assists Chief Risk Officer in coordinating the activities and reporting to the management Risk Governance Committee and Board Risk Committee to support the assessment and reporting of the credit union’s risk profile
• Coordinates Credit Union and external resources, provides procedural direction and reports to senior management on the status of risk management programs and initiatives
• Coordinates the Credit Union’s overall compliance with applicable rules, regulations, and statutory requirements, including the Bank Secrecy Act, OFAC and USA Patriot Act
• Manages, coaches, and evaluates Risk team
• Assists in the development and implementation of effective Risk management and loss mitigation planning
• Develops and monitors risk tolerances for fraud risk inherent in the Credit Union’s operating environment
• Ensures that KFCU expertly deploys risk monitoring systems for each risk category that timely prevents excessive risk or timely detects risk thresholds that in future jeopardy without management action
• Develops, recommends, and executes internal loss prevention controls and programs as are necessary to preserve and expand Credit Union assets
• Reviews key performance indicators/metrics and assists management in the early identification of risk trends
• Coordinates and manages the vendor and contract management program across all business units and maintains a regular program of review, including risk-based analysis and response to reports of third-party review/examination
• Assists the business units throughout the organization with risk evaluation/analysis pertaining to products, services, technology, and operational infrastructure
• Conducts periodic review of existing policies and procedures to ensure effectiveness
• Ensures policies and procedures reflect current regulations and legal requirements and are implemented appropriately
• Identifies areas of policy and procedural exposure to fraud, develops recommendations for enhancement of fraud risk management, develops and provides training to staff for the prevention of fraud. Manages the loss prevention efforts, to include member ID theft prevention.
• Builds strong alliances inside and outside work units to positively influence identification and resolution of significant risks/opportunities
• Reviews and analyzes, with department managers, weaknesses in controls noted in departmental reviews performed by consultants/auditors. Discuss possible solutions
• Continuously improve the Credit Union’s risk management practice; launch initiatives to enhance processes, systems, and education when necessary
• Facilitates, develops, and implements statistical and other quantitative risk assessment tools
• Ensures 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 of the organization
• Effectively communicates and maintains strong and effective relationships throughout all levels of the organization including the Board of Directors
• Performs all duties in a manner that is fully compliant with applicable industry regulations as well as KEMBA policy and procedures
• Develops an understanding of Credit Union history, philosophy, organization, policies, and operational procedures
• On a self-direct basis, continues to improve individual level of competency through training and certification on established educational programs
• Relates to others beyond giving and receiving instructions:
  • Communicates with coworkers or peers without exhibiting behavioral extremes
  • Performs work activities requiring negotiating, instructing, supervising, persuading, or speaking with others
  • Responds appropriately to feedback from others
• Performs other duties as required by management

Required Qualifications

• College degree in Business Administration, Accounting, Finance, or equivalent
• 5+ years of Risk Management experience, preferably in banking/financial services audit or examination environment
• ACAMS, CIA, CPA or CFE preferred
• 3+ years of Management/leadership experience
• Strong knowledge of applicable federal and state financial regulations
• Experience with BSA
• Ability to interpret documents, including regulatory and compliance materials, marketing and procedure manuals. Understanding of real estate law, loan procedures and documentation and auditing or examination preferred
• Solid analytical and problem-solving skills
• Ability to conduct oral presentations and to write reports and correspondence to diverse audiences
• Ability to deal effectively with group or individual employees and members of the organization
• Attentive to detail and observant
• Advanced verbal and written communication skills
• Effective public relations abilities

Physical Demands

The physical demands listed below represent those necessary to perform the essential functions of this role. Reasonable accommodation may be provided to enable individuals with disabilities to perform these functions.

The employee is regularly required to sit, use their hands, reach with arms, and communicate verbally and orally. Occasional standing, walking, and lifting of objects up to 25 pounds are required. Vision requirements include close, distance vision, and focus adjustment.

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