Chief Risk Officer (CRO) (ID:3137)

Position Id
3137
Location
North York ON
Job Type
Full-Time Regular

Chief Risk Officer, Risk Management

Up to $175K Base Salary + Bonus + 4 weeks’ vacation + comprehensive package

The client is an international financial institution with significant North American holdings. They have operations across most major verticals, including institutional & corporate, wealth management, private client, commercial banking, treasury, and retail banking.

Position Summary

The Chief Risk Officer (CRO) is responsible to comply with the roles and responsibilities of the Corporate Governance as the Chief Officer of the 2nd line of defense. The CRO works with management and the Board of Directors to support strong and sustainable business performance through independent identification, measurement, monitoring, and reporting of all significant risks. The CRO oversees, leads, and manages the Risk Management Department and provides oversight and independent challenge to risks managed across the institution.

What you will achieve in this role:

Risk Management:

  • Develop, maintain and communicate the Bank’s Risk Appetite Statement
  • Develop and maintain the Bank’s Risk Management Framework and related risk governance structure, to ensure the Bank can effectively identify, assess, manage, monitor and report on risk exposures
  • Provide oversight regarding the implementation of the Risk Appetite Statement and Risk Management Framework
  • Ensure that all Risk Management Strategies and Framework (including risk policies, limits, monitoring and reporting mechanisms, etc.) are consistent with the Bank’s risk appetite and explicitly linked to the Bank’s Risk Appetite Statement
  • Ensure that the Bank’s risk profile is continuously evaluated, and that appropriate information is provided on a regular basis to senior management as well as Risk Management Committee and Board to facilitate assessments
  • Identify emerging risks, such as risk concentrations or other situations that need to be studied through stress testing or other techniques, and evaluate their potential effect on the Bank’s risk profile and alignment with its risk appetite
  • Review Enterprise Risk Management Framework and recommend any material changes to Risk Management Committee for approval
  • Oversee audits, review compliance, document action plans, define risk control policies, generate management reporting tools, evaluate market trends, assist with creating IT risk strategy, etc.

Compliance:

  • Oversee the Risk Management Department’s performance of compliance procedures for ALM, Investments, Investment Services, and Member Credit areas to determine compliance with regulations, corporate policies, and departmental procedures

Board, Committee, and Leadership:

  • Provide support to the Risk Management Committee of the Board
  • Chair both the Loan Review Committee (quarterly meetings) and the Risk Management Steering Committee (monthly meetings)
  • Actively participate as a member of the Asset & Liability Committee and the Information Security Committee (attend meetings and strategic planning sessions, etc.)
  • Provide quarterly Risk Reporting to the President & CEO and to the Board’s Risk Management Committee
  • Provide governance oversight for the Risk Management Committee; develop the periodic committee agenda, reporting tools, record keeping, action items and all required governance
  • Manage and lead the Risk Management Department; assist with selecting staff, allocate responsibilities and performance expectations, training and development, mentoring for short-and long-term success, performance reviews, etc.; support management policies
  • Build and maintain effective working relationships with other members of the management team, members of the Board, Parent Bank, external auditors, OSFI, and other stakeholders

Investment Credit:

  • Oversee the credit function encompassing the performance of credit reviews and the development of credit risk measures for (non-treasury/agency) investment securities, banks, broker/dealers, and counter-parties

What you will bring to this role:

  • Minimum 10 years’ experience within Risk Management, with a concentration in Credit Risk Management within the Banking industry; minimum of 5 years within a senior leadership role
  • 4-Year BA in Finance, Economics, Business Administration, Statistics, or Management
  • Master of Business Administration (MBA) or Certified Public Accountant (CPA) or equivalent
  • Financial Risk Management (FRM) designation preferred
  • Strong working knowledge of Canadian Banking practices, risk factors, control methodologies, review and monitoring tools
  • Strong knowledge of Canadian banking and related regulatory requirements
  • Advanced knowledge of MS Office; ability to use complex auditing and statistical analysis software in monitoring risks
  • Ability to work cooperatively and collaboratively with others, both internally and externally, to accomplish individual and organizational objectives
  • Strong communication and presentation skills; ability to convey information effectively in a variety of settings; strong experience presenting complex materials in a clear and concise manner
  • Comfort to continually participate in development opportunities to improve personal knowledge, skills, and abilities
  • Strong creative thinking, problem solving, and analytical skills; ability to anticipate needs, think critically on business issues, address problems/issues in innovative ways, analyze relevant data and weigh alternatives
  • Strong people management and team leadership experience
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