Job Description

Institution : Bank

Role : Chief Risk Officer

Location : Los Angeles, CA

Salary : $275,000 - $300,000 (depending on experience)

Our client, a Commercial Bank, located in Los Angeles, is looking to hire a new Chief Risk Officer, reporting to the Bank President, COO and the Board, The Chief Risk Officer is responsible for the efficient and effective governance of risks, as identified and articulated by the Board approved risk appetite and risk tolerance objectives and risk related policies. The Chief Risk Officer is also responsible for the development and monitoring of the Enterprise Risk Management Program, this includes program development, oversight and verification of adherence to the program to ensure timely identification and resolution of Bank’s risks across the organization.

The Chief Risk Officer will partner with the business leadership team to identify and consider relevant risks in the development of the strategic vision, and promote the balance of both the risk and rewards of the business. The Chief Risk Officer ensures compliance with established Bank policies and procedures. The Chief Risk Officer is also responsible for overseeing the Compliance, BSA, Information Security and Vendor Management departments which includes 3 direct Managers.

Responsibilities:

• Implements appropriate/meaningful risk reporting to senior management and board of directors (entity level internal control risk assessment, quarterly risk assessment, key risk indicators, emerging risks, etc.).
• Oversees the development of and implementation of the enterprise risk management program and appropriate infrastructure with the expertise of the CFO.
• Provides support and guidance regarding enterprise risk management strategy, initiative, training, risk management activities, policies, procedures, process, and reporting.
• Facilitates management’s development of appropriate risk appetite profile and risk appetite statement and monitors alignment of Strategic Plan to limits established in the risk appetite statement with the expertise of the CFO.
• Collaborates in the development of and communication of the use of appropriate risk management methodologies, tools and techniques (internal control documentation, risk policies and procedures, risk assessments, training, etc.) in collaboration with the CFO.
• Coordinates with CFO in the continued compliance with Sarbanes-Oxley (SOX) or FDICIA; prepare the annual internal control risk assessment used to identify key controls to be tested; coordinates and performs the various management tests required for COSO 2013 and SOX compliance.
• Oversees the regulatory compliance management functions (including consumer compliance, CRA and BSA) and coordinate and develop plans to implement laws and regulations; ensures all areas of the Bank receive sufficient education, training, testing and monitoring to ensure compliance with laws and regulations.
• Oversees Information Security and Vendor Management through a direct report: Information Security Officer.
• Interfaces with bank regulators as the Bank’s primary contact person for all regulatory examinations; responsible for responding to and following up on any examination findings; reports to senior management and board of directors on progress of remediation activities.

Requirements:

• A Degree preferably in a Risk Management, Finance, Accounting or Business Administration field.
• 10+ years of relevant experience working as part of a Compliance or Risk program in a Commercial Banking setting.
• Advanced knowledge of Bank operations and lending products and services; related state and federal laws and regulations, and other Bank operational policies and procedures.

To explore this role further, please connect with matt@wayoh.co

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