Our client, a consumer lender with over $1B in assets, is adding a Chief Risk Officer to their executive team. This role is multifaceted and will focus on identifying, assessing, and mitigating risks associated with organizational activities. The CRO will develop and implement a unified strategy for risk management, compliance, and internal auditing. It will assess current lending practices and areas of opportunity for new loan structures as well as provide credit review and oversight to assess the quality of lending. This role is critical to the organization’s continued growth and commitment to providing superior loan options for their customers.
Reports to: Chief Executive Officer
Location: Columbia, SC
AREAS OF RESPONSIBILITY
Risk Management and Credit Risk Oversight
QUALIFICATIONS
Education and Experience
Reports to: Chief Executive Officer
Location: Columbia, SC
AREAS OF RESPONSIBILITY
Risk Management and Credit Risk Oversight
- Lead complex initiatives including those that are cross-functional with broad impact and act as key participant in driving the company credit culture, risk appetite, and business performance for Credit Risk.
- Review and analyze complex strategies, programs, and policies with a direct and significant impact on credit risk appetite and culture.
- Utilizing internal, market, and industry trends, identify and prioritize key credit-related issues, metrics, and risk factors specific to our lending. Recommend changes and enhancements to underwriting guidelines and credit risk policy.
- Assess potential impacts of product changes to the company’s risk position. Advise on opportunities to further develop the product development strategy and associated tactics that are both defensive and offensive in nature, appropriately balancing risk, and return.
- Provides risk expertise and support for business programs, initiatives, and committees. Serves as an advisor on risk best practices, processes, and regulatory requirements.
- Manages risk education and training through partnership with business units.
- Oversee the tracking and monitoring of our loan portfolios. Regularly report on performance, including delinquency and payoff rates, to senior management.
- Develops and implements tools or processes which enhance risk reporting capabilities. Oversees the documentation of risk metrics and data to provide reports for executive leadership.
- Direct, counsel, and manage compliance, ensure that proposed and final federal and state regulatory changes are reviewed and analyzed to identify and assess the impact on the corporation’s business practices and procedures.
- Direct, counsel, and manage internal auditor assigned to engagements and review audit plan, findings, and reports for sufficient scope, accuracy, appropriateness of conclusions and compliance with requirements.
- Oversee and direct Internal Audit reviews of corporate functions and processes to ensure compliance with Federal and State requirements. Follow-up on any noted deficiencies to ensure corrective action plans are properly implemented.
- Ensure the appropriate documentation of audit work in accordance with the Institute of Internal Auditors standards. This includes developing and communicating audit observations, recommendations, process improvement opportunities and best practices, and obtaining management responses.
- Responsible for delivering key insights to management and supporting functions. Leveraging deep expertise in business strategy to support the audit function and the organization with actionable insights to drive ongoing success.
- Conduct thorough due diligence on potential vendors, including financial stability, compliance with regulations, and operational capabilities.
- Ensure timely completion and follow-up of all contract reviews.
- Serves as point person for external counsel.
QUALIFICATIONS
Education and Experience
- Bachelor’s Degree in finance, accounting or business related field; Master’s Degree in risk or accounting is a plus.
- 10+ years of experience in an executive level role within risk management and/or credit management within the financial services industry with a focus on lending.
- Advanced knowledge of applicable laws, regulations, financial services, and regulatory trends that impact corporate banking.
- Ability to maintain a growth mind-set, manage strategically and think innovatively.
- Consistently demonstrates and holds oneself accountable to the ethics and values of the organization understanding that leading by example is critical in leading an organization.
- Demonstrates core values of respect, integrity, great service, high value for employees and customers, transparency, and teamwork, through actions and behaviors.
- Strong ability to coach and mentor others in a positive and productive manner and provide feedback for improvement.
- Ability to make sound decisions when establishing and executing policies, procedures and goals and deal effectively with all levels of staff, as well as internal and external stakeholders.
- Ability to establish and maintain a complex departmental budget.
- Strong ability to establish annual goals and hold oneself accountable for results.
- Ability to communicate effectively, both verbally and in writing with all levels of management, staff, and internal/external stakeholders.
- Sound interpersonal skills with desire to build mutually beneficial relationships internally and externally.
- Excellent organizational skills, attention to detail, and time management skills with a proven ability to manage multiple competing priorities and meet deadlines.
- Ability to act with integrity, professionalism and confidentiality.
- Ability to work harmoniously as a reliable team member.
- Proficient with Microsoft Office Suite and related software.
