SVP, Enterprise Risk Management

4 weeks ago

Fair Lawn, United States Columbia Bank Full time
Job DescriptionJob Description

Summary

The 1st SVP, Enterprise Risk Management at Columbia Bank plays a critical role in overseeing and enhancing the bank’s risk management framework. Reporting directly to the Senior Executive Vice President, Chief Risk Officer (CRO), the 1st SVP, Enterprise Risk Management will lead the development, implementation, and monitoring of enterprise-wide risk management strategies and policies. This role requires a seasoned professional with extensive experience in enterprise risk management within the banking sector, a thorough understanding of regulatory requirements, and strong leadership skills to drive a culture of risk awareness and accountability across the organization.

Job Responsibilities:

  1. Strategic Risk Oversight & Monitoring
  • Collaborate with the CRO to manage and create comprehensive reports and agendas for management and board risk committees. Ensure that all relevant risk information, including key risk indicators (KRIs), key performance indicators (KPIs), and emerging risk trends, is accurately presented. Facilitate effective communication and decision-making by coordinating with various departments to gather necessary data and insights, and by ensuring that all reports comply with regulatory and internal standards.
  • Develop and execute enterprise-wide risk management strategies aligned with the bank’s strategic objectives and risk appetite.
  • Establish robust monitoring mechanisms to track risk exposures and mitigation efforts, providing timely reports and analysis to senior management and relevant committees.
  • Conduct comprehensive risk assessments to identify, evaluate, and prioritize key risks facing the bank.
  • Lead the strategic development and implementation of an enterprise-wide Governance, Risk, and Compliance (GRC) framework as the bank grows, ensuring alignment with the bank’s size and complexity.
  1. Risk Mitigation and Contingency Planning
  • Identify emerging risks and trends, providing strategic insights to relevant risk committees, executive management, and the board of directors.
  • Develop and implement effective risk mitigation strategies and contingency plans to address identified risks. Collaborate with business units to implement remediation measures and strengthen risk controls as necessary.
  • Continuously develop and refine Key Risk Indicators (KRIs) and Key Performance Indicators (KPIs) within the bank’s risk framework to proactively measure, monitor, and anticipate key risks impacting the bank and the broader banking industry.
  1. Policy Development and Implementation
  • Lead the development, review, and implementation of risk management policies, procedures, and controls in accordance with regulatory requirements and best practices. Ensure consistent adherence to established risk frameworks across all business units.
  • Assist the CRO in the continuous development, enhancement, and communication of the bank’s Risk Appetite Statement, ensuring it accurately reflects the bank’s strategic objectives, risk tolerance, and evolving risk landscape.
  1. Financial Risk Program Management
  • Supervise and collaborate with the Senior Vice President of Financial Risk and Data Analytics, ensuring alignment with the bank’s overall risk management framework and objectives. The Senior Vice President’s key responsibilities include: Overseeing vendor risk management, model risk management, data governance, SOX compliance, and corporate insurance processes.

5 Stakeholder Engagement

  • Foster strong relationships with internal stakeholders, including executive management, business units, and board committees, to promote a culture of risk awareness and accountability. Serve as a subject matter expert on risk management matters, providing guidance and support as needed.

6 Talent Development

  • Lead and mentor risk management professionals, fostering their professional growth and development. Provide ongoing training and education to enhance risk management capabilities across the bank.
  • Conduct regular performance evaluations and provide constructive feedback to support career progression and succession planning within the risk management function. Demonstrates a commitment to Equal Opportunity Employment and Affirmative Action.

7 Other Responsibilities

  • Performs other job-related duties as may be assigned.
  • Stay abreast of regulatory developments and updates related to risk management, ensuring the bank’s compliance with applicable laws, regulations, and guidelines issued by the OCC and other relevant regulatory agencies.

Job Requirements:

  • Bachelor’s degree in Finance, Accounting, Business Administration, or a related field; advanced degree (e.g., MBA, CFA, FRM) preferred.
  • Minimum of 10 years of experience in enterprise risk management within the banking industry, with a focus on regulatory compliance and risk assessment.
  • Strong understanding of risk management frameworks, methodologies, and best practices, particularly within the context of CAMELS.
  • Demonstrated leadership experience, with the ability to effectively lead and motivate cross-functional teams.
  • Excellent analytical and problem-solving skills, with the ability to assess complex risk scenarios and develop innovative solutions.
  • Strong communication and interpersonal skills, with the ability to influence and collaborate effectively at all levels of the organization.
  • Proven track record of driving change and implementing process improvements in a regulated environment.
  • Relevant professional certifications (e.g., CRCM, CERP, FRM, or equivalents) preferred.
  • Proficient in Microsoft Office Suite, with advanced skills in Excel, PowerPoint, and Word.

Columbia Bank and its affiliates is an Equal Opportunity Employer

Affirmative Action Employer/Males/Females/Protected Veterans/Individuals with Disabilities

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