The Chief Risk Officer reports to the Chief Executive Officer (CEO).
The Chief Risk Officer (CRO) is a member of the Senior Leadership Team who provides leadership, oversight and coordination of Risk Management for our Credit Union.
This leader translates business strategies into goals and objectives, managing the control, reporting, monitoring and awareness of financial risk management, loss prevention and security controls of the Credit Union to ensure exemplary member service and organizational success.
This business unit leader is responsible for overseeing the provision of exemplary member service, providing for engagement of employees, managing the operations to be efficient and effective, taking action to mitigate current and emerging risk, and providing for the financial health of the unit while contributing to the operational and financial health of the Credit Union as a whole.
The CRO is to conduct their duties while demonstrating positive leadership within the Credit Union and externally in the community. The CRO is to inspire the employees of the business unit to achieve their maximum potential and produce results in the best interest of the credit union while respecting members’ needs.
KEY ACCOUNTABILITIES
Develop specific short- and long-term strategy and objectives to establish and maintain effective compliance risk mitigation related to the functional areas of : Anti-money laundering & terrorist financing (Proceeds of Crime (Money Laundering) and Terrorist Financing Act; Fraud; Privacy (Personal Information Protection Act); Member tax residency compliance (Foreign Account Tax Compliance Act and Common Reporting Standard).
- Overall leadership and coordination of the Risk Services department.
- Provides direction and monitor the operations of the Risk Services department to ensure the department is providing the products and services required by the members and branches.
- Provide reporting to the CEO as required and follow up on initiatives of the department.
- Provides for effective functioning of the business line and attaining stated objectives.
Anti-Money Laundering
Oversee the anti-money laundering program and ensure the program is up to date with FINTRACregulatory guidance.Coordinate effective Anti-Money Laundering training to benefit members and the organization.Formally act as the Chief Anti-Money Laundering Officer (CAMLO) ensuring that the necessary structures, management systems, programs, policies and procedures are in place to comply with legislation, regulations and directive.Credit Risk Management and Oversight
Oversees and approves development, implementation, and maintenance of credit riskmanagement policies and procedures to address potential issues and mitigate risks.Ensures the credit union’s credit risk management framework aligns with regulatory requirements and industry best practices.Privacy Officer
Maintain knowledge of privacy legislation and regulations; ensure all credit union operations comply with these standards.Corporate Insurance Administration
Maintains credit unions’ four corporate insurance programs : Master Bond Program, Cyber Security Insurance, Professional Liability Insurance Program, and the Master Property Insurance ProgramEmployee Engagement
Build positive capable teams to meet the mandate of the business units.Build a positive work environment that is motivating to employees.Credit Union Support
Participates as member of the Asset and Liability Committee (ALCO)Is a key resource to the Audit and Operational Risk Committee (AOR)Is a key resource to the Credit & Market Risk Committee (CMR)REQUIREMENTS
Requirements : Core Effectiveness Skills
Interpersonal and Communication skills
Builds and sustains effective working relationships between staff, members, and communityCommunicates clearly and conciselyEffective listening and telephone skillsAbility to support effective interaction between and among people and groups of peopleDeals with conflict positively and supports others to resolve differencesAbility to mediate differences between individuals and groups of peopleAbility to persuade, influence, negotiate, motivate people and eventsAbility to sustain openness and trust, provide emotional support and effectively handle expression of strong feelingsLeadership
Recognition of and respect for people’s diversity and individual differencesCoach, mentor, develop and motivate employees, board, members, community, external groupsFacilitate interaction among peopleDevelop strategies to improve team, individual and credit union performanceInstils commitment to values and visionProvide an environment that supports skill developmentTake responsibility for personal actions and the actions of othersManaging Change
Maintains a positive attitude toward changeDemonstrates continuous learning and developmentPossesses ability to balance work and home responsibilitiesEmploys effective organizational and time management skillsUnderstands the change management process; leads changes as they relate to credit unionstrategic directionDemonstrated ability to diagnose organization’s readiness for changePossesses ability to forecast change and understand its impact on organizational effectiveness and directionCan plan change and drives change as it relates to the strategic planMonitors and evaluate the effects of changeIs flexible and adaptable in implementing the credit union’s goalsProblem Solving and Decision Making
Problem Solving
conclusions, evaluate action in relation to organizational development / department operationsAbility to recognize when a problem requires referral to General Manager or BoardIdentifying opportunities based on an in-depth analysis of complex issues and actDecision Making
Ability to make sound decisions based on policies, procedures and experienceSetting objectives, determining strategy and implementing a planDecisions that support achieving strategic directionWorking in Teams
Work collaboratively to accomplish common goalsLead in team development and in identification of team roles, responsibilities and goalsLead project teams and ensure collaborative relationshipsUnderstand team dynamicsProvide focus and directionRecognize and celebrate team successesLead in development of strategies to improve team and individual performanceEnable team members to make decision within the scope of their positionIdentify problems, discover plans or patterns, link information to strategic direction, reachFinding and communicating new ideas for old problemsPresenting new ideas that have productive outcomes (results in the generation of practical applications or development of new procedures)Pushing the limits of knowledge and ability to identify and create new ideas / solutionsDevelopment of new programs and policiesStrategic Thinking and Planning
Ability to relate actions to the strategic plans of the organizationKnowledge of the organization and the credit union systemRecognition of global implicationsSensitivity to organizational culturesImplement strategic plan and through actions, motivate others to achieve corporate directionEnsuring priorities are strategically basedIn cooperation with the board, establish and confirm vision and strategic directionIdentify an organization structure and management style to meet credit union objectivesUsing strategic plan, develop, prioritize and implement organizational / department plans and strategiesRequirements : Core Occupational Skills
Sales skillsKnowledge of Credit Union philosophies and principlesUnderstanding of Credit Union Act and regulations; policies and procedures; credit union technology and operations.Recognizes financial terminologyGeneral understanding of industry conditionsGeneral knowledge of competitors products and servicesGeneral knowledge of the features and benefits of credit union productsHuman Resource management (Employee Engagement)Understands Compensation and benefitsPerformance management, conflict resolutionCompliance and labour standards, human rights legislationHuman resource policy and procedure development, implementation, interpretationPlanning / forecasting / budgetingRequirements : Education and Professional Experience
University degree is requiredSix to ten years of related senior management experienceOr an equivalent combination of education and experience.Extensive financial services experience is required.Expert knowledge of Enterprise Risk Managemen t and the regulatory requirements is required.Experience evaluating and drafting policy and procedures is preferred.Extensive experience in evaluating all aspects of risk at a corporate level is requireGail Pearce Recruiting is a boutique professional recruitment firm located in downtown Vancouver, B.C. with over 20 years executive experience and has been providing recruiting services since 2006. We have a unique skill set and specialty focus in professional service companies with in-depth recruiting experience inengineering, finance and accounting, legal, real estate and property management industries.
Working with Gail Pearce Recruiting you will have access to qualified human resource professionals. We provide an extensive range of high level recruitment services for leading organizations in private and public sectors. Executive Search, Administration staff recruiting, and Interim Management are our specialties. We foster successful matches for the career seeker and employer. Our mission is to offer exceptional talent while saving our clients costs in the recruiting process.
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