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Chief Risk Officer

Company: Sunwest Bank
Location: Sandy
Posted on: June 18, 2022

Job Description:

SUMMARY Provides leadership and strategic oversight to the bank's risk management teams responsible for the Audit Program, regulatory compliance program, Community Reinvestment Act (CRA) compliance, Bank Secrecy Act (BSA) compliance, physical security, and fraud mitigation. Develops and implements strategic and tactical risk management solutions to protect and minimize risk to the Bank as the institution scales. Responsible for driving a strong culture of compliance through partnership with line of business leaders and key stakeholders, continuously demonstrating integrity and professional judgment in protecting the interests of Sunwest Bank and its clients. ESSENTIAL DUTIES AND RESPONSIBILITIES

  • Shares knowledge of risk management frameworks, corporate governance, processes, project management, bank operations, products and services, and regulation to ensure effective risk management. Trains, educates, and assists others as needed to achieve success.
  • Manages and leads a team of risk management professionals with responsibility for providing oversight and leadership in the changing regulatory environment and overseeing compliance risk management activities in accordance with enterprise compliance standards.
  • Supports the development of a holistic risk management framework by collaborating with other departments and lines of business to review and evaluate risks and controls.
  • Coordinates with bank management to determine risk appetites and tolerance levels and communicate those to all lines of business.
  • Acts as an internal advisor/partner to Bank business units regarding risk management matters (e.g. controls, best practices, and industry developments.) Assists business units in understanding regulatory responsibilities and best practices.
  • Builds effective relationships with peer banks, trade associations, industry and regulatory authorities and others to obtain information to evaluate risk.
  • Directs routine monitoring of regulatory requirements as well as periodic review and assessment of state and federal regulatory compliance requirements to include analysis of business impact for enacted laws/regulations and recommended company compliance actions to ensure regulatory compliance.
  • Provides compliance and risk management subject matter expertise for project/process/product (including service and delivery channel) initiatives to ensure proactive identification of risks and the design of strategic and tactical regulatory solutions.
  • Facilitates formal and informal risk management meetings to address risks and control deficiencies identified through internal risk assessment and independent assessment, audit, and examinations; ensuring the Bank meets deadlines for resolving deficiencies.
  • Serves as a member of and supports other risk management roles, including operating risk framework and/or committees (e.g. IT Steering Committee and Compliance Committee).
  • Manages federal/state regulatory agency relationships to obtain regulatory approvals and provides required regulatory feedback. Responsible for managing relationships with audit firms and other key stakeholders.
  • Evaluates the type of transactions that will be caused to occur if certain client relationships or activities are established and evaluates metrics and/or monitoring and control procedures that need to be implemented to mitigate the transactional risks.
  • Evaluates results of audits, examinations, investigations, prepares reports of findings, and suggests appropriate risk limitations to management.
  • Participates in strategic planning and works with the Bank's Board Audit Committee and the Senior Management Team to inform all parties of risks faced by the Bank and formulates actions plans as needed.
  • Develops teams through coaching and mentoring - creates growth opportunities for team members. ADDITIONAL RESPONSIBILITIES
    • Demonstrates high degree of professionalism in communication, attitude and teamwork with customers, peers and management.
    • Demonstrates high level of quality work, attendance and appearance.
    • Adheres to all company policies and procedures as well as local, state and federal laws.
    • Additional duties as assigned as it relates to the position. SUPERVISORY RESPONSIBILITIESThis position oversees other risk management professionalsMINIMUM QUALIFICATIONS
      • Prior experience as a Risk Management Officer for a Commercial Bank in excess of $1.5B in assets, and/or five or more years of risk, compliance, or audit experience in the banking industry
      • Minimum education: Bachelor's Degree.
      • Experienced collaborating across departments and lines of business on complex projects.
      • Strong formal communication and presentation skills in front of variety of audiences (front-line staff, board of directors, regulators and auditors).
      • SOX/COSO & FDICIA control framework expertise.
      • Expert knowledge of bank regulatory, safety and soundness, and CRA compliance requirements.
      • Experience overseeing state and federal bank examinations as well as internal and external audits.
      • Physical security experience; including, incident response management, and disaster recovery. Information security experience and cyber event risk management is highly preferred.
      • Experience overseeing vendor management compliance programs, including the selection and ongoing monitoring of critical vendor relationships.
      • Certification in risk management, audit or compliance preferred, but not a requirement. COMPETENCIES:
        • Adaptability
        • Communication
        • Decision Making
        • Initiative
        • Innovation
        • Change agent
        • Organization
        • Professionalism
        • Results-Orientated

Keywords: Sunwest Bank, Sandy , Chief Risk Officer, Executive , Sandy, Utah

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