Director of Risk Management (Banking - Compliance)

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. The 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 manager