About the Role
Company’s Risk Management team has responsibility for ensuring growth in lending and other member related activities are consistent with the company’s risk appetite. The team holistically manages enterprise, credit, deposit products, fraud prevention, portfolio management, infrastructure, and business operating risks. In addition, Risk Management directly manages enterprise partners, ensures strong compliance with regulations, acts as a multi-layered second line of defense in oversight of business operations, and works to ensure risk policies enable a member-first experience.
VP, Risk Management – Enterprise Risk Management will have responsibility for partnering with Head of Credit, Head of Fraud, Company Business Units (Personal Lending, Home Loans, Invest, Money, Protect, Member, Student Lending), Capital Markets, Finance, Operations, Information Security, Privacy, Legal and Compliance teams to drive second line of defense oversight of all risk strategies across our principal risk domains.
Key oversight domains include:
- Enterprise Risk Management Committee
- Operational Risk Management
- Servicing Risk Management
- Vendor / Supplier Risk Management
- Enterprise Policies and Procedures
- Lending Authority Delegation and Accreditation
- Regulatory Assurance and Audit Engagement
- Quality Control
- Data Governance Council
- Model Risk Management
- Risk Control Assessment (ARCM/Activities, Risks, Controls, Monitoring)
In addition, this role is responsible for the design and implementation of Corporate Risk Management's (CRM) monitoring of and reporting on performance for the Company Corporate, subsidiary, and affiliates. This leader will develop and execute a risk-based annual Risk Control Assessment testing plan; including, documenting and communication results, and escalating issues as necessary. Position will be the primary contact point for review and challenge of Business Unit (BU) and first line of defense related activities.
By joining Company, you’ll become part of a forward-thinking company that is transforming financial services for the better. We offer the excitement of a rapidly growing startup with the stability of an industry leading leadership team.
- Innovate… we need you to bring your brightest ideas to build a strong second line of defense from the ground up. This means architecting robust Enterprise Risk Management functions that manage risk across multiple domains and simply are best in class when compared to Top 5 financial institutions.
- Data Driven… architect the future of risk management with analytically based assessment capabilities; focus on management of material risks, areas of volatility, drive data governance to ensure enterprise data quality
- Challenge Status Quo… build-out a comprehensive Enterprise Risk Management framework that delivers on industry best practices, drives meaningful strategic insight, and provides a path from good-to-great for competency gaps
- Effective Challenge… oversee the development of corporate second line function that fuses oversight, strategy, and effective challenge to ensure policies, processes, and risk appetite framework is being adhered to by end users.
- Control the Risk… Develop and oversee a corporate risk-based annual Risk Control Assessment (RCA) testing plan evaluating policy, process, and infrastructure controls; including, documenting and communication results, and escalating issues as necessary to Enterprise Risk Committee
- Drive Performance Outcomes… Design effective domain risk controls that ensure risks are proactively identified, actively managed, clearly quantified, and volatility risk measured. When appropriate ensure mitigating business controls are developed, monitored, and effectiveness measured.
- Risk Controllership… Independently review and challenge material estimates and/or the processes that provide estimates used in managing the products, including loss forecast, ACL/Allowance for Credit Loss, stress tests, and loss assumptions
- Be a Risk SME… Serve as a subject matter expert for advanced monitoring framework and KRI/Key Risk Indicator performance outcomes across the business. Determine ERM infrastructure needed to monitor, measure, and proactively manage risk.
- Build the Bench… Be the inspiration for our rapidly growing team, recruiting the best, brightest, and passionately quantitative. Share your broad experience across the organization and build the leaders of tomorrow.
- 15+ years of relevant enterprise risk management, risk analytics, consumer lending, and/or underwriting strategy work experience.
- Preferred: Advanced degree in an analytical discipline
- Strongly Preferred: Extensive work in advanced global banking geographies and/or within regulated bank entities or registered broker dealer.