Merchants Bank
Chief Risk Officer
Merchants Bank, Winona, Minnesota, United States, 55987
Merchants Bank is a growing, employee-owned company, with a 149-year dedication to fulfilling the hopes and dreams of our community members and delivering outstanding customer service. We are searching for our next
Chief Risk Officer.
The Chief Risk Officer (CRO) is responsible for ensuring the organization and its employees at all levels comply with statutory, regulatory, fiscal, and ethical requirements as well as internal policies and procedures. The CRO establishes, monitors, and reports on responsible risk appetite, risk tolerances, and risk limits across the enterprise. The CRO provides oversight across the eight risk pillars applicable to an OCC-regulated bank, and assists management in evaluating changes to business practices, technologies, and risks.
The individual in this role reports directly into our Chief Executive Officer and plays a critical role for vision and leadership around developing, implementing and advancing our risk department.
This position is located on-site at our Winona, MN headquarters location (102 E 3rd Street Winona MN) with some travel to other branches and periodic conferences.
Please click on
Apply Now
or by
calling Cat Breet , CHRO at 612-508-2017. Questions can be emailed to hr@merchantsbank.com. Merchants Bank is an Equal Opportunity Employer of women, minorities, protected veterans and individuals with disabilities.
Job Summary
:
The Chief Risk Officer is responsible for ensuring the organization and its employees at all levels comply with statutory, regulatory, fiscal, and ethical requirements and internal policies and procedures. Establishes, monitors, and reports on responsible risk appetite, risk tolerances, and risk limits across the enterprise. Provides oversight across the eight risk pillars applicable to an OCC regulated bank. Assists management in evaluating changes to business practices, technologies, and risks.
This position has independent direct communication channel authority to the Risk Committee of the Board of Directors; however, administrative needs are coordinated through the Chief Executive Officer. Departmental management responsibility includes Audit, Loan Review/Quality Assurance, Compliance, Security - Physical/Cyber/Information, Third Party Risk Management, Fraud, Access Management and BSA Administration.
This individual is responsible for the leadership, innovation, governance, and management necessary to identify, evaluate, mitigate and monitor the company's risk components. They will develop Enterprise Risk Management tools, practices and policies to analyze and report enterprise risks, and to manage risks according to an enterprise risk management framework.
Required Skills & Experience:
8+ years of Enterprise Risk experience in the financial services industry in a relevant area such as IT/IS, IT/IS Risk Advisory, IT/IS Consulting, or IT/IS Audit4+ years of Management experienceStrong demonstrated understanding of the three lines of defense within banks.Strong Risk and Control experience, including properly identifying risks and developing controls to mitigate risks.Clear communicator, who can simplify and convey complex ideas / methodologies for common stakeholder understanding at the Board and executive level, as well as to employee population.Demonstrated success managing a high level of responsibility, initiative, and accountability without prompting.Demonstrated success managing projects and deadlines.Proven experience working with a government regulatory department.Essential Duties
:Risk Management - Ensure the organization's risk management policies and strategies are in compliance with applicable regulations and good business practices.Establish the Enterprise Risk Management architecture for the company.Oversee and monitor all operations risk management activities of the organization.Ensure the bank adequately identifies, monitors, and controls the bank's credit, interest rate, liquidity, operational, compliance, strategic and reputational.Integrate risk management within strategic goal setting and business planning.Monitor and analyze risks within the company's business units and report on these risks to the Board.Chair the company's enterprise risk committee that oversees the enterprise risk management process and ensures alignment with organization objectives.Provide key leadership for all business cases and new products, services and technologies.
Relationship Management - This role is a key owner of the relationship with the OCC, External Auditors and Internal Auditors as a liaison from a risk perspective.Report quarterly to the Board and maintain a close relationship with the Chair and Vice-Chair of the Risk Committee of the Board and the Audit Compliance Committee of the Board.Be the risk liaison as part of the Presidents Meeting, IT Steering Committee, SAR Committee, Strategic Planning Committee and Privacy Committee. Will report to the Executive Team on high-risk items.Lead the Privacy Committee.
Annual Planning - This role is responsible for the audit plans for the Risk Department.Oversee that annual risk assessments are completed for Audit, Compliance, BSA, Security, and Loan Review with engagement from the Internal Auditor, Compliance Officer, BSA Officer, VP Director of Security, and VP Loan Review Officer.Oversee the development of the three-year audit and compliance plans and ensure they are in alignment with risk tolerance and profile.Oversee the compliance policies and AML/BSA/OFAC policies are up-to-date and current with engagement from Compliance Officer and the BSA officer.Oversee security annual audits are scheduled and ensure security policies and procedures are up to date and timely with engagement of the VP Director of Security.Responsible for the Budget for all areas that report to the role as well as overall risk management needs.Incorporate the Strategic Plan into Risk Departments Business Plan
Training and Communication - Provide continuing communication regarding risk management and the expectations of all employees.Ensure that the Compliance Officer is working with Bank compliance officers, as well as Bank staff impacted, so they are made aware of all banking regulations and any changes or amendments to those regulations.Ensure Internal Auditor, Loan Review, Security and BSA personnel are provided direction and support to lead their areas and communication from those areas are clearly provided to all employees impacted by changes in internal policies or regulation.
Professional Development - responsible for continuous risk management developmentObtain and maintain a working knowledge of risk management, security best practices, banking laws and regulations, consumer protection related laws and regulations as they currently exist and as amendments are issuedAs appropriate, attend training sessions on all risk areas.
Regulator and External Auditor ExaminationsEnsure that any exceptions or control weaknesses noted in regulatory and audit examinations are corrected.Respond to those sections of the report upon request.Act as a liaison between bank, government or private external examiners during examinations and reviews.
Regulatory Proposals and ChangesAs appropriate, respond on behalf of Merchants to comments on regulatory proposals to change or add to consumer protection laws.Explain the proposal to bank compliance officers and appropriate bank personnel who can measure the impact of the change.Solicit input, author MFGI's written comments and forward them to the appropriate regulatory agency.Monitor regulatory changes as they are announced and support the Compliance Officer in implementing changes as needed.
Leadership/Supervision to Risk DepartmentProvide supervision for audit, loan review/quality assurance, security, BSA and Compliance. Support the leaders in each of these areas who have staff reporting to them.Oversee organization of the departmentReview reports to the Board or managementPerform 6-month and annual reviews.
Working Conditions:
Inside working environment, comfortable working temperature. Low noise environment. No environmental chemical hazards in the Bank. May occasionally visit businesses with various environments. Overall, the working environment is very clean and aesthetically appealing. Travel to affiliate locations will be required.
Physical Demands:
Work will be performed sitting at a desk, very low degree of lifting; when work involves sitting most of the time, positions are defined as sedentary. Positions are sedentary if walking and standing are required only occasionally. Lifting will generally not require over ten pounds in weight or pressure.
Position will require average finger dexterity to operate normal office equipment, such as a computer, calculator, etc. Requires ability to express ideas in a clear, thorough, and concise manner. Requires ability to articulate clearly
Mental Demands/Competencies/Education:
Position will require above-average ability or aptitude in the areas of reasoning, intelligence, and numerical perception. Position requires individual to be action-oriented, an excellent team player, ability to manage time and work effectively, manage self-development, possess oral and written communication skills, and leadership skills.
Relationship
:
Will report to the Chief Executive Officer for interpretation of duties, responsibilities, and authority.
Will report any areas of concern to the Risk Committee of the Board of Directors.
Other details
Job Family CompliancePay Type Salary
Apply Now
Chief Risk Officer.
The Chief Risk Officer (CRO) is responsible for ensuring the organization and its employees at all levels comply with statutory, regulatory, fiscal, and ethical requirements as well as internal policies and procedures. The CRO establishes, monitors, and reports on responsible risk appetite, risk tolerances, and risk limits across the enterprise. The CRO provides oversight across the eight risk pillars applicable to an OCC-regulated bank, and assists management in evaluating changes to business practices, technologies, and risks.
The individual in this role reports directly into our Chief Executive Officer and plays a critical role for vision and leadership around developing, implementing and advancing our risk department.
This position is located on-site at our Winona, MN headquarters location (102 E 3rd Street Winona MN) with some travel to other branches and periodic conferences.
Please click on
Apply Now
or by
calling Cat Breet , CHRO at 612-508-2017. Questions can be emailed to hr@merchantsbank.com. Merchants Bank is an Equal Opportunity Employer of women, minorities, protected veterans and individuals with disabilities.
Job Summary
:
The Chief Risk Officer is responsible for ensuring the organization and its employees at all levels comply with statutory, regulatory, fiscal, and ethical requirements and internal policies and procedures. Establishes, monitors, and reports on responsible risk appetite, risk tolerances, and risk limits across the enterprise. Provides oversight across the eight risk pillars applicable to an OCC regulated bank. Assists management in evaluating changes to business practices, technologies, and risks.
This position has independent direct communication channel authority to the Risk Committee of the Board of Directors; however, administrative needs are coordinated through the Chief Executive Officer. Departmental management responsibility includes Audit, Loan Review/Quality Assurance, Compliance, Security - Physical/Cyber/Information, Third Party Risk Management, Fraud, Access Management and BSA Administration.
This individual is responsible for the leadership, innovation, governance, and management necessary to identify, evaluate, mitigate and monitor the company's risk components. They will develop Enterprise Risk Management tools, practices and policies to analyze and report enterprise risks, and to manage risks according to an enterprise risk management framework.
Required Skills & Experience:
8+ years of Enterprise Risk experience in the financial services industry in a relevant area such as IT/IS, IT/IS Risk Advisory, IT/IS Consulting, or IT/IS Audit4+ years of Management experienceStrong demonstrated understanding of the three lines of defense within banks.Strong Risk and Control experience, including properly identifying risks and developing controls to mitigate risks.Clear communicator, who can simplify and convey complex ideas / methodologies for common stakeholder understanding at the Board and executive level, as well as to employee population.Demonstrated success managing a high level of responsibility, initiative, and accountability without prompting.Demonstrated success managing projects and deadlines.Proven experience working with a government regulatory department.Essential Duties
:Risk Management - Ensure the organization's risk management policies and strategies are in compliance with applicable regulations and good business practices.Establish the Enterprise Risk Management architecture for the company.Oversee and monitor all operations risk management activities of the organization.Ensure the bank adequately identifies, monitors, and controls the bank's credit, interest rate, liquidity, operational, compliance, strategic and reputational.Integrate risk management within strategic goal setting and business planning.Monitor and analyze risks within the company's business units and report on these risks to the Board.Chair the company's enterprise risk committee that oversees the enterprise risk management process and ensures alignment with organization objectives.Provide key leadership for all business cases and new products, services and technologies.
Relationship Management - This role is a key owner of the relationship with the OCC, External Auditors and Internal Auditors as a liaison from a risk perspective.Report quarterly to the Board and maintain a close relationship with the Chair and Vice-Chair of the Risk Committee of the Board and the Audit Compliance Committee of the Board.Be the risk liaison as part of the Presidents Meeting, IT Steering Committee, SAR Committee, Strategic Planning Committee and Privacy Committee. Will report to the Executive Team on high-risk items.Lead the Privacy Committee.
Annual Planning - This role is responsible for the audit plans for the Risk Department.Oversee that annual risk assessments are completed for Audit, Compliance, BSA, Security, and Loan Review with engagement from the Internal Auditor, Compliance Officer, BSA Officer, VP Director of Security, and VP Loan Review Officer.Oversee the development of the three-year audit and compliance plans and ensure they are in alignment with risk tolerance and profile.Oversee the compliance policies and AML/BSA/OFAC policies are up-to-date and current with engagement from Compliance Officer and the BSA officer.Oversee security annual audits are scheduled and ensure security policies and procedures are up to date and timely with engagement of the VP Director of Security.Responsible for the Budget for all areas that report to the role as well as overall risk management needs.Incorporate the Strategic Plan into Risk Departments Business Plan
Training and Communication - Provide continuing communication regarding risk management and the expectations of all employees.Ensure that the Compliance Officer is working with Bank compliance officers, as well as Bank staff impacted, so they are made aware of all banking regulations and any changes or amendments to those regulations.Ensure Internal Auditor, Loan Review, Security and BSA personnel are provided direction and support to lead their areas and communication from those areas are clearly provided to all employees impacted by changes in internal policies or regulation.
Professional Development - responsible for continuous risk management developmentObtain and maintain a working knowledge of risk management, security best practices, banking laws and regulations, consumer protection related laws and regulations as they currently exist and as amendments are issuedAs appropriate, attend training sessions on all risk areas.
Regulator and External Auditor ExaminationsEnsure that any exceptions or control weaknesses noted in regulatory and audit examinations are corrected.Respond to those sections of the report upon request.Act as a liaison between bank, government or private external examiners during examinations and reviews.
Regulatory Proposals and ChangesAs appropriate, respond on behalf of Merchants to comments on regulatory proposals to change or add to consumer protection laws.Explain the proposal to bank compliance officers and appropriate bank personnel who can measure the impact of the change.Solicit input, author MFGI's written comments and forward them to the appropriate regulatory agency.Monitor regulatory changes as they are announced and support the Compliance Officer in implementing changes as needed.
Leadership/Supervision to Risk DepartmentProvide supervision for audit, loan review/quality assurance, security, BSA and Compliance. Support the leaders in each of these areas who have staff reporting to them.Oversee organization of the departmentReview reports to the Board or managementPerform 6-month and annual reviews.
Working Conditions:
Inside working environment, comfortable working temperature. Low noise environment. No environmental chemical hazards in the Bank. May occasionally visit businesses with various environments. Overall, the working environment is very clean and aesthetically appealing. Travel to affiliate locations will be required.
Physical Demands:
Work will be performed sitting at a desk, very low degree of lifting; when work involves sitting most of the time, positions are defined as sedentary. Positions are sedentary if walking and standing are required only occasionally. Lifting will generally not require over ten pounds in weight or pressure.
Position will require average finger dexterity to operate normal office equipment, such as a computer, calculator, etc. Requires ability to express ideas in a clear, thorough, and concise manner. Requires ability to articulate clearly
Mental Demands/Competencies/Education:
Position will require above-average ability or aptitude in the areas of reasoning, intelligence, and numerical perception. Position requires individual to be action-oriented, an excellent team player, ability to manage time and work effectively, manage self-development, possess oral and written communication skills, and leadership skills.
Relationship
:
Will report to the Chief Executive Officer for interpretation of duties, responsibilities, and authority.
Will report any areas of concern to the Risk Committee of the Board of Directors.
Other details
Job Family CompliancePay Type Salary
Apply Now