Responsible for the implementation and execution of enterprise risk management program. Integrate risk management into the business strategy of the organization. Maintain a sound Asset Liability Management process and essential profitability studies. Perform advanced accounting-based analysis and research of historical, current, and projected financial statistics through the use of spreadsheets and computer models on an ongoing basis. Compile statistical data for preparation of requested financial studies to assist the credit union in achieving its short- and long-term objectives.
Instill a culture of risk management capabilities across the organization. Apply sound knowledge of risk management principles to research, analyze, and recommend sustainable improvements to processes, products and systems while ensuring cohesion with organizational strategy.
Chair and organize regular Risk Management Committee (RMCO) meetings.
Update global scenario parameters at least annually. Work with each functional area to facilitate risk assessment working sessions and update risk exposures. Determine frequency based on awareness of impending changes that may significantly impact the credit union’s risk exposure.
Maintain and update the Enterprise Risk Management database for functional area lists and liaisons, strategic objectives, risk categories including applicable new or emerging risks, and external economic factors. Advise on software, equipment and technology solutions that complement the function.
Prepare quarterly ERM report for Management and Board encompassing each of the functional areas. Facilitate at least one update meeting with each functional area during the year.
Regularly assess capital adequacy, evaluating risk to capital and earnings that might result from quantified risk exposures.
Provide ongoing ERM support for the organization and coordinate reporting with other A/LM areas to ensure efficiency and consistency. Develop and implement operational plans, policies and procedures for the department which further credit union risk management objectives.
Ensure risk and compliance information from a wide variety of sources is effectively aggregated, analyzed, and communicated to management to provide valuable insight and facilitate strategic decision-making.
Facilitate due diligence efforts across the credit union by providing risk analysis and insight. Lead and support the development of new proposals that further the credit union’s strategic direction.
Oversee monthly maintenance of the Profitstars A/LM software to provide proactive analytical support for the credit union’s Asset/Liability Management function. Maintain effective controls and procedures over the interest rate and liquidity risk management process to facilitate continual assessment of balance sheet risk exposure. Perform periodic back-testing procedures to validate model assumptions and present recommendations for improvements. Create scenarios within the A/LM model to support strategic planning efforts.
Coordinate independent third party reviews of the A/LM model. Monitor all applicable risks to ensure the safety, soundness, and flexibility of the A/LM process. Update underlying assumptions and forecasts as necessary Chair the Asset Liability Committee, schedule regular monthly meetings and ensure regular reporting is provided.
Oversee monthly maintenance of the Profitstars Profitability software to provide timely operational analysis of branch and departmental performances and offer insight to management on appropriate courses of action. Update underlying allocations, unit times and costs as necessary.
Work with senior management to develop and implement Board approved strategies and policies, and provide leadership in executing those strategies.
Compile studies using a variety of sources to support management in monitoring credit union operations, decision-making and setting short- and long-term goals. Champion the planning and deployment of research projects.
Analyze complex financial data and define relevant information for determining historical trends as well as present and future performance.
Develop and present accurate and time-sensitive reports to appropriate levels of management in a manner that is objective, clear, concise and constructive.
Develop and maintain a database of comprehensive statistical data for support of research and analytical activities. Maintain summary trend reports. Archive information related to measurements and market research.
Perform research needed for branch expansion initiatives (mapping, demographic analysis, profitability projects, competitive analysis, etc.)
Perform research analysis and compile data to assist management in the evaluation of the financial desirability of a continuing or proposed product line, including pricing information critical to the success of the product.
Assist with the development of the credit union annual budget. Review economic forecasts and industry projections for key interest rates and growth levels. Maintain documentation and analyses for support of assumptions used in budget preparation. Effectively model projections as the foundation for the operating budget.
Serve on the Business Continuity Team, providing initial risk analysis and monitoring throughout the recovery process.
Establish and maintain comprehensive third party management program, including practices for effectively assessing potential new contracts/vendor relationships and managing and monitoring existing contracts/vendor relationships.
Read all internal publications including Source and Possibilities.
Bachelor's degree in Business/Finance or related field, advanced degree preferred. Five to eight years financial analysis experience desired.
Enterprise Risk Management experience with Professional Risk certification preferred.
Strong business background with the ability to identify risk in all areas of the credit union.
Broad understanding of various risks including regulatory and compliance, interest rate, credit, liquidity, transaction, strategic and reputation risks.
Must be extremely logical, analytical, detail oriented, organized, and accurate in all reports and responsibilities to assist the credit union in achieving their short- and long-term objectives.
Must be able to generate and analyze data and possess a working knowledge of appropriate financial analysis and presentation techniques to quantify and illustrate financial reports, comparisons, impacts, and/or projections.
Experience with project problem diagnosis, solution development, facilitation of decision making, and documentation.
Ability to facilitate risk discussions with senior management.
Strong leadership and organizational skills
Strong analytical skills required.
Ability to work autonomously and as part of a team.
Ability to perform risk assessments, develop risk action plans and programs, and understand testing and evaluation of controls.
Ability to manage concurrent deadlines with multiple priorities and adapt to new challenges and changes in management directions.
Ability to effectively interact positively with all levels of staff and management to communicate accounting information, policies, and/or procedures in a manner easily understood.
Spreadsheet software skills to quantify and illustrate financial reports, comparisons, impacts, and/or projections.
Ability to clearly and concisely document and present work product.
Ability to analyze processes, solve problems, and make recommendations for improvements.
Excellent written and oral skills required in order to communicate with credit union employees, as well as, outside credit union contacts.
Knowledge of current changes and/or developments in applicable federal, state, local laws, and universal policies and procedures.
Regular and reliable attendance is required.
Possession of a valid, unrestricted driver's license.
Occasional travel to various credit union branches.
Working knowledge of computer programs including Microsoft Windows, Word, Excel, Outlook, and internet.
Ability to operate related office equipment including calculator, computer terminal (PC), multifunction copier, receipt printers, and telephone.