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Chief Risk Officer

Saint Paul, MN

POSITION:

The Chief Risk Officer is responsible for the effective assumption of manageable risk and helps the organization avoid anything that might threaten the successful execution of the company’s strategy and duties. The ideal leader understands both financial and non-financial risks to the organization. The CRO helps provide strategic expertise around known financial and operational risks and has a firm handle on the opportunities and associated risks of non-financial risks such as newer technologies. This leader works within the executive team to appropriately navigate risk while making a path for peak performance. Additionally, The CRO provides enterprise-wide leadership for implementing the three lines of defense infrastructure and guiding the risk control self-assessment process in the first line of defense, in accordance with the framework according to priorities established by the organization’s governing bodies. Directly responsible for oversight of the second line of defense for key operational risks including Third Party, Product, Segregation of Duties, Model Risk Management, and Technology Risk.

 

JOB DUTIES AND RESPONSIBILITIES:

The Chief Risk Officer (CRO) holds the primary senior management position serving the second line function of identifying, assessing, measuring, monitoring, mitigating, and managing all types of risk arising from the internal and external business environment.

1. Provide the overall leadership, vision, and direction for the risk management function, including board reporting.

2. Lead the second line functions in digital technology transformation for employees and processes by collaborating in the execution of the vision and roadmap to modernize the enterprise.

3. Helps senior executive leaders across the organization make better decisions while mitigating risks. This includes developing the analytical, systems and data management capabilities to mutually support risk management program and business operations.

4. Continuing the development and implementation of the integrated risk management framework for all aspects of risks across the organization including financial and non-financial risks.

5. Advance and achieve risk management metrics, reports, and policies, including the quantification of the organization’s risk appetite through specific risk limits, key risk exposures, losses, incidents and early warning indicators.

6. Allocate resources and capital to exposures based on risk and optimize the organization’s risk portfolio through business activities and risk transfer strategies.

7. Improve the Organization’s risk management readiness through communication and training programs, performance measurement and incentives, and other change management programs.

8. Practical experience with the three lines of defense model application, key risk indicators, and the use of risk control self-assessments.

9. Demonstrated strong change management skills and the ability to generate innovative ideas and challenge the status quo while being well-versed in various risk management frameworks and standards

10. Ensures the organization's risk management policies and strategies are in compliance with applicable regulations and strategic imperatives of the organization.

11. Develop and deliver any required training and mentoring programs for the ERM program including process and information management system and analysis to support knowledge transfer and organizational capability development

12. Conduct benchmarking against recognized local and national standards and then implement lessons learned to ensure that the ERM and requirements management framework remains fit for purpose and align with best practices

 

CRO REQUIRED QUALIFICATIONS:

• Bachelor’s degree in accounting, business administration, finance, or risk management.

• Master of Business Administration or law degree

• 10 years of senior-level experience in a similar role or industry.

• 3-5 years of enterprise risk management experience with emphasis on operational risk.

• Successful track record of leading people and managing programs.

• Knowledge of legal requirements and compliance regulations.

• Assess technology risks around transformation and partner in alignment with risk appetite

• Ability to lead change in a complex environment with accompanying process improvement and project management skill / experience.

 

PREFERRED QUALIFICATIONS:

• 3+ years of senior-level experience in a cloud forward environment.

• Ability to lead in newly transformed cloud-based systems

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