Chief Risk Officer – SVP
Department: Senior Management
Reports to: President & CEO
Supervises: Commercial Credit Administration Manager & Compliance Officer
Level: SVP – Level 6
Location(s): Sanford, Maine
Responsible for bank enterprise-wide risk management. Assesses and plans for potential operational, strategic, financial, compliance, credit and reputation risk across the enterprise. Ensures compliance with all regulations including BSA. Responsible for managing and overseeing internal audit, compliance reviews, IT Audits, and loan review for the Bank. Provides direction and supervision to staff.
- Bachelor’s degree in business administration, finance or related field.
- Ten or more years of financial institution experience with progressively greater responsibility in managing risks
- Five or more years’ experience in credit administration or bank compliance
- Thorough understanding of regulatory compliance, lending, operations, asset liability management, human resources, budgeting and forecasting
- Excellent analytical, management, communication and negotiating skills
Specific Job Functions:
- Manages the process for developing risk policies and procedures, as well risk tolerance levels.
- Facilitates the measurement and documentation of risk posed by any major new initiatives and all major departments and or lines of business by the bank through risk assessments
- Maintains, monitors and ensures compliance with all bank policies
- Is part of the Senior Management team participating in executive level discussions in making recommendations regarding strategic planning and major policy decisions
- Stays abreast of regulations and legislation, as well as other political and policy making events that directly affect the Bank. Supervises the compliance officer and ensures that the bank is in compliance with all state and federal laws and regulations
- Responsible for scheduling compliance reviews, internal audits, IT audits, loan reviews (those firms acting on behalf of the Bank, as our 3rd lines of defense) and reports findings to senior management and the board of directors. Ensures findings and recommendations are responded to and resolved in a timely manner and that effective controls are maintained throughout the Bank.
- Participates in annual enterprise wide risk assessments completed within the bank and or with 3rd party firms to set appropriate scope and frequency of audits/reviews each year.
- Supervises the Credit Administration Manager and Compliance Officer
- Acts as chief point of contact for all external audit procedures and exams
- Voting member of the bank’s Asset Quality Committee and Loan Committee
- Chair of the bank’s Asset Quality Committee, Risk Management Committee and Risk Assessment Committee
- Provides oversight and enhancement oversight to the credit department loan portfolio analysis to adequately inform bank management regarding the quality of the loan portfolio and notate any material changes on a monthly and quarterly basis, particularly within the commercial loan portfolio
- The loan quality analysis conducted is used to determine the adequacy of the loan loss reserve, monitors concentrations of credit, and monitors exceptions to loan policy including FDICIA exceptions
- Reviews and maintains the ALLL Software and any other risk management software including tracking tools
- Managerial duties to include performance improvement plans, performance reviews, salary/promotion recommendations, and terminations. Coaches, develops and inspires staff to maximize their potential, provide career path and insure good management succession
- Actively involved in community volunteerism
- Other duties as assigned
This Job Description describes the essential functions and qualifications of the job described. It is not an exhaustive statement of all the duties, responsibilities or qualifications of the job. This document is not intended to exclude modifications consistent with providing reasonable accommodations for a disability. This is not a contract.