Senior Vice President of Risk

Allegacy Federal Credit Union

Employee Job Description

Job Title: Senior Vice President of Risk

Reports To: General Counsel/Chief Risk Officer (GC/CRO)

Role Accountability

At Allegacy, there's a common thread that runs through all of us. It's our commitment to doing right and our promise to members to always do the right thing for their wellbeing. Every employee in our organization is accountable to living out our brand in meaningful ways as our promise motivates our beliefs, our behaviors, and the benefits we share together. The Vice President of Risk Management will be a key leader responsible for overseeing the Compliance, BSA/AML, Fraud Mitigation, and Enterprise Risk functions, while directly managing a team of risk management professionals. This role requires a strategic and operationally focused leader capable of balancing day-to-day risk management activities with long-term strategic initiatives and will play a pivotal role in adapting and enhancing the organization's risk management practices to address new challenges and opportunities.

Major Duties and Responsibilities

• Strategic Leadership:
• In an effective and respectful manner, question assumptions and existing practices to foster innovation and improvement.
• Anticipate risks and opportunities before they fully emerge and be effective in articulating those risks and concerns to others.
• Analyze complex information to make informed and timely decisions, especially under uncertainty, that protect the credit union and align with the overall business objectives and goals of the credit union.
• Demonstrate enthusiastic support of corporate mission, core values and long term objectives.

• Enterprise Risk Management:
• Develop and execute a scalable and adaptable enterprise risk management (ERM) framework that aligns with industry best practices, changing regulatory standards and the credit union's overall business and risk strategy.
• Oversee the ERM department and ensure its effectiveness.
• Develop and oversee the implementation of risk mitigation strategies and ensure effective risk controls are in place.
• Report on risk efforts and mitigation efforts to the executive team, Risk Committee and others as may be needed.

• Bank Secrecy Act (BSA) Compliance:
• Oversee the development and implementation of BSA/AML policies and procedures.
• Ensure compliance with BSA/AML regulations and guidelines.
• Manage the BSA Officer and the BSA/AML group to ensure accuracy and effectiveness.

• Fraud Prevention and Detection:
• Lead the development and implementation of fraud detection and mitigation strategies through the fraud mitigation team.
• Oversee training and awareness programs on fraud prevention.
• Collaborate with law enforcement and regulatory agencies on fraud related matters.

• Compliance:
• Ensure the credit union complies with relevant laws, regulations and industry standards.
• Oversee the credit union's compliance program, ensuring adherence to all applicable laws and regulations.
• Collaborate and assist departments in developing and maintaining compliance policies and procedures.
• Oversee training and guidance to employees on compliance matters.

• Lead, mentor and develop a team of risk management, fraud mitigation and compliance professionals who deliver seamless service.
• Foster a culture of risk awareness and proactive risk management throughout the organization.
• Communicate risk management activities across the organization and integrating risk management into their practices.
• Promote continuous learning and development within the team to keep pace with regulatory changes and emerging risks.

Knowledge, Skills and Abilities

• Strong leadership, strategic thinking, interpersonal and communication skills with the ability to influence and collaborate across departments and at all levels of the organization.
• Exceptional analytical and problem solving skills, with a keen ability to assess complex risks and recommend effective mitigation strategies.
• Strong understanding of data analytics, risk modeling and risk reporting tools.
• Ability to navigate complex regulatory and compliance environments while balancing business objectives.
• High attention to detail and ability to manage multiple priorities in a fast paced, dynamic environment.
• High ethical standards.

Requirements

Education and Experience

Bachelor's degree in finance, business administration, risk management or a related field; advanced degree or professional certifications preferred.

Minimum of 10 years of experience in risk management, compliance, or a related field within the financial services industry and 7 years or more experience in a leadership role within a credit union or similar financial institution.

In-depth knowledge of ERM, compliance and BSA/AML regulations and fraud prevention strategies.

Ability to work collaboratively with senior management and other stakeholders.

Professional certifications such as Certified Risk Manager (CRM), Certified Anti-Money Laundering Specialist (CAMS), or Certified Fraud Examiner (CFE).