Risk Specialist

1 month ago


Reading, United States Utilities Employees Credit Union Full time
Job DescriptionJob Description

Position Summary

Enhance the Credit Union's value to its members and protect the Credit Union from undue risk by supporting the Credit Union's enterprise risk management program and vendor management program. Work with leadership across the organization to identify, evaluate, monitor, mitigate and report risk, and maintain a standardized risk assessment process across the Credit Union. Work with leadership and staff across the organization to ensure that all vendor management programs and procedures are up to date and that staff are trained appropriately.

Required Skills/Abilities:

  • Strong attention to detail and the ability to effectively prioritize, multi-task and follow through to resolution in a timely manner.
  • Strong analytical, problem solving and decision-making skills.
  • Ability to learn and apply new information and technical skills quickly.
  • Ability to work independently as well as facilitate a team environment.
  • Proficient with Microsoft Office Suite, in particular Word, PowerPoint, and Excel.
  • Ability to communicate effectively with staff on all levels (written and verbal).
  • Ability to use database management applications effectively.
  • Strong knowledge of core financial services products, services, procedures, and regulatory requirements.
  • Well versed in risk management methods and strategies, including ability to identify and evaluate risks and controls.

Essential Duties and Responsibilities:

  • Maintains the Credit Union's enterprise risk management program and software, keeping the Credit Union's risk management software platform up to date, while maintaining compliance with regulatory requirements.
  • Supports the identification, evaluation, monitoring, control, mitigation, documentation and reporting of risk.
  • Educates management and staff about risk management, including risk assessment and mitigation.
  • Maintains the Credit Union's Risk Control Self-Assessment (RCSA) process to conduct risk assessments or assists management in developing and maintaining risk assessments for various products, services, processes and business units to help implement tactical and core strategies and minimize risk throughout the organization.
  • Ensures a consistent approach to risk assessment across the organization.
  • Identifies control gaps resulting in elevated risk levels. Provides recommendations to mitigate these risks.
  • Researches emerging risks and compares the Credit Union's risk appetite statement to peers as part of the annual review of the Credit Union's risk appetite statement.
  • Maintains metrics to monitor identified risk exposures to ensure risk levels remain within stated risk tolerances. Ensures that metrics are quantifiable through specific risk limits or parameters.
  • Assists in identifying the risks associated with new programs and works with all areas of the Credit Union to ensure that proper mitigating controls and monitoring activities are in place.
  • Maintains multiple risk management process cycles for monitoring, reviews, updates, etc.
  • Periodically develops and reviews risk management reports in the Credit Union's risk management software platform.
  • Acts as liaison between the Credit Union and its corporate insurance broker to complete annual insurance reviews, including applications, and ensure sufficient insurance coverage is in place to protect the Credit Union.
  • Maintains the Credit Union's vendor management program and software, including assisting vendor owners in timely collection of documentation from vendors, as well as vendor due diligence and residual risk assessments.
  • Facilitates ongoing training and education on enterprise risk management and vendor risk management.
  • Assists with regulatory examinations and monitors corrective action of any risk or vendor management deficiencies identified in regulatory examination reports or other third-party reviews to ensure they are adequately addressed.
  • Responsible for ensuring that all responsibilities of this position are performed in compliance with provisions of the Bank Secrecy Act (BSA), US Patriot Act, Anti-Money Laundering, and all applicable federal, state, and location regulations.
  • Performs tasks, which are supportive in nature to the essential functions of the job, but which may be altered or re-designed depending upon individual circumstances.

Education and Experience:

  • An Associate's Degree in Business, Finance or a related field of study is desired; equivalent experience may be considered.
  • Minimum of 3 years' professional level experience in a bank, credit union or similar institution in a risk management related role, such as compliance, audit, fraud prevention, vendor risk management, enterprise risk management, law, security, etc.

Work Environment and Physical Requirements:

The credit union is committed to working with its employees to reasonably accommodate them with the physical aspects of the position. This position functions in a professional office environment or credit union lobby. This role routinely uses standard office equipment such as laptop, phone, and printer. Must be able to remain in a stationary position 50% of the time. The person in this position needs to occasionally move about inside the office or credit union lobby. This individual frequently communicates with co-workers, members, and/or visitors throughout the day, either in person, over the phone, or through email, and they must be able to exchange information, research, answer questions, and/or inform others on a regular basis.


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