Job Description
The Vice President, Enterprise Risk Management & Compliance (ERMC) is responsible for managing and directing the Credit Union’s ERMC program under the direction of and in collaboration with Executive Vice President, Chief Administrative Officer (CAO). In this capacity, the VP, ERMC, works with the business units in establishing, assessing, and managing the risk levels of the organization and appropriate internal controls regarding risk and compliance. The VP, ERMC, develops, champions, and facilitates the execution of ERM and Compliance processes and infrastructure. The VP, ERMC will objectively assess and report the risk profile of the Credit Union facilitates change as needed and implements the appropriate ERM infrastructure, tools, and techniques across the organization.
Essential Responsibilities - Function as strategic advisor to the CAO, CEO, and Executive Leadership Team, translating complex risk information into actionable business decisions.
- Collaborate with business units and Senior Management to define and communicate the organization’s ERM vision. Establish and promote the use of ERM methodologies, tools, and techniques to enhance organizational risk management capability.
- Participate in Senior Management, Supervisory Committee, and Board meetings, preparing recommendations and resolutions as appropriate.
- Provide a structured and disciplined approach to closing significant gaps in risk management capabilities. Consult with managers on risk assessment, business risk decisions, and risk response strategies.
- Oversee the Risk Management operations, department budgeting, goal setting, performance management, staff meetings, and employee development.
- Manage the Bank Secrecy Act program, including compliance with BSA, OFAC, and USA Patriot Act requirements. Serve as the Credit Union’s BSA Officer.
- Provide leadership to the ERMC team responsible for monitoring the organization’s overall risk profile. Support
- infrastructure for reporting, tracking, and resolving risk control deficiencies.
- Develop and maintain risk management policies and procedures. Support other control functions as needed. Implement sustainable and efficient reporting processes for ongoing risk and compliance monitoring.
- Partner with business unit leaders to develop and monitor action plans that address identified risk gaps. Direct the collection, analysis, and assessment of risk data from business units and support functions.
- Lead the development, progression, and integration of the Credit Union’s Governance, Risk, and Compliance
- framework, ensuring alignment across Audit, Compliance, IT Security, and Operational Risk.
- Develop and present enterprise level risk dashboards and emerging risk reports to Senior Management, the Supervisory Committees, ensuring clear visibility into trends, exposures, and areas of concern.
- Establish a formal model risk management program, including guidelines, references, and best practices to manage risk across the organization.
- Lead the annual development and refinement of the enterprise Risk Appetite Statement, ensuring alignment with business objectives, strategic plans, and regulatory expectations.
- Provide oversight of the enterprise Business Continuity and Incident Response programs, including planning, testing, documentation, and coordination with business units.
- Coordinate external and regulatory audits and examinations, including follow-up and management response reporting.
- Maintain the Credit Union’s bylaws and coordinate required changes with regulators.
- Evaluate and ensure adherence to applicable laws, regulations, and internal policies. Monitor legislative and regulatory changes and recommend actions to maintain compliance. Interface with law enforcement, regulatory agencies, and Credit Union officials as required.
- Evaluate, select, and manage ERM technology platforms systems to improve automation, reporting, and enterprise visibility of risk.
- Review the Credit Union’s NMLS administration, including management of the company registry, renewal process, MU1 and MU2 filings, and compliance with all SAFE Act requirements. Ensure timely updates and coordination with all departments that employ registered Mortgage Loan Originators.
EDUCATION And/or EXPERIENCE - Bachelor’s degree in business, Finance, or Accounting required. Master’s degree in business or public
- Administration preferred.
- Minimum of eight years of audit experience within a financial institution.
- Minimum of five years of management experience.
- Thorough understanding of regulatory requirements and their impact on risk management.
- Excellent written and verbal communication skills.
- Proficiency with Microsoft Word, Excel, and database applications.
Certificates, Licenses, Registrations Professional certification is strongly preferred, such as CPA, CBA, CFE, NCCO, or equivalent. Candidates actively pursuing certification will also be considered.
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