VP Risk Management

Role: Responsible for the design, development and oversight of the enterprise risk management (ERM) function of the credit union by establishing a comprehensive framework for risk identification, assessment, mitigation, monitoring, and reporting. Partners with leaders and departments across the credit union to plan, implement, support and monitor risk management strategies and practices. Risk management functions include regulatory compliance, cybersecurity, business continuity and disaster recovery planning, vendor due diligence, physical security, fraud and incident response and strategic risk management planning as it relates to credit, liquidity, interest rate, operational and reputation risk.

Serves as a strategic advisor to the President/CEO, Leadership Team and department leaders, ensuring the credit union operates safely, soundly, and in alignment with its growth objectives.

This position is eligible for a hybrid work from home schedule, as set and approved by the President/CEO in accordance with the credit union's Remote Work policy.

Essential Functions & Responsibilities:

• 35% - Develop and implement a comprehensive risk management program that addresses all risks faced by the credit union and aligns with the credit union’s strategic objectives. Identify, assess, monitor, mitigate and prioritize key risk across the credit union in its daily operations, including credit risk, liquidity risk, interest rate risk, operation, strategic, compliance, reputation, and cybersecurity risk.
• 20% - Partner with leaders across the credit union to review and update policies and procedures in support of risk management strategies.
• 15% - Provide clear, timely and actionable risk reporting to Leadership by establishing and maintaining a comprehensive risk register and reporting dashboard for board and leadership’s access and utilization.
• 15% - Oversee the development and testing of the credit union’s Business Continuity Plan and Disaster Recovery Plan.
• 10% - Develop and deliver training programs on risk management practices to credit union staff.
• 5% - Other job-related duties as assigned.

Performance Measurements:

1. Develop and implement a comprehensive enterprise wide risk management framework aligned with the credit union’s strategic objectives, risk appetite, and regulatory expectations. Ensure the credit union’s risk appetite statements, tolerances, and governance policies remain current and aligned with strategic objectives.

2. Ensure alignment, communication and collaboration between various departments responsible for key risk areas across the organization. Lead cross functional incident response efforts for risk related events, including fraud incidents, cyber-security threats, operational disruptions, and business continuity events.

3. Oversee the development, maintenance, and testing of the Business Continuity Plan (BCP) and Disaster Recovery Plan (DRP). Conduct other enterprise risk assessments as appropriate.

4. Partner with leaders across the credit union to develop, review, and maintain policies and procedures that support strong risk management practices. Collaborate with business units to embed risk controls, monitoring, and mitigation strategies into operational processes.

5. Identify, assess, monitor, mitigate, and prioritize risks across the organization including credit, liquidity, interest rate, operational, strategic, compliance, reputational, and cybersecurity risks.

6. Lead the credit union’s fraud risk program by proactively identifying fraud trends, directing and overseeing investigations, coordinating cross functional mitigation efforts with Information Systems, Operations, Security, and Compliance while ensuring swift, comprehensive response and remediation of all suspected or confirmed fraudulent activity.

7. Supports cybersecurity risk oversight by reviewing risk assessments, incident trends, and control effectiveness, partnering with the Chief Information Officer and the Information Systems team to evaluate emerging threats, and ensuring cybersecurity practices align with regulatory expectations and organizational risk appetite.

8. Works in coordination with the Security & Fraud Specialist in evaluating branch and facility security measures, reviewing incident reports, and partnering with Facilities and Operations to strengthen controls that protect members, employees, and credit union assets.

9. Works in partnership with Lending department leadership to monitor portfolio performance, evaluate underwriting and product changes, review concentrations and policy exceptions, and identify trends and implement appropriate mitigation strategies.

10. Consults with the Chief Financial Officer and Leadership team to monitor the credit union’s liquidity position by evaluating cash flow forecasts, funding sources, and stress testing scenarios, while collaborating with Finance to ensure adequate liquidity buffers, policy compliance, and timely mitigation of emerging liquidity pressures.

11. Serves as an active participant of Rate Review Committee to ensure policy compliance and timely mitigation of emerging rate related exposures. Collaborates with the CFO and VP Accounting to monitor and evaluate interest rate risk by reviewing ALM reports, stress testing rate scenarios, assessing impacts on earnings and capital.

12. Monitors and mitigates operational risk by evaluating internal controls, reviewing incidents and process breakdowns, and partnering with business units to strengthen procedures, remediate issues, and ensure consistent adherence to risk mitigation practices.

13. Assesses strategic risk by evaluating the potential impact of new initiatives, market changes, and organizational decisions, providing forward looking analysis and guidance to ensure alignment with the credit union’s long term objectives and risk appetite.

14. Supports the VP Audit & Compliance in monitoring regulatory changes, evaluating adherence to applicable laws and regulations, reviewing compliance testing results, and collaborating with business leaders to address gaps and implement effective mitigation strategies.

15. Contributes to the review and maintenance of the credit union’s Vendor Due Diligence program by conducting risk assessments, validating documentation completeness and accuracy, identifying potential risk gaps to ensure third party relationships meet regulatory expectations and internal risk standards.

16. Monitors reputational risk by identifying issues that may impact member trust or public perception, advising leadership on potential exposure, and coordinating cross functional efforts to mitigate and respond to concerns that could affect the credit union’s image.

17. Support NCUA examinations and internal/external audits by providing risk related documentation, analysis, and responses. Communicate with regulatory agencies as needed, on matters related to risk, compliance, and examinations.

18. Build, maintain, and oversee a comprehensive risk register and enterprise risk dashboard. Provide clear, timely, and actionable risk reporting to the President/CEO, Leadership Team, and Board of Directors, including risk trends, mitigation efforts, and emerging risks.

19. Cultivate a risk management mindset across the credit union by promoting and strengthening a risk aware culture, ensuring staff understand their roles in risk mitigation and possess and continuous improvement mindset.

20. Support strategic planning with risk insights, scenario analysis, mitigation strategies, and forward-looking assessments.

21. Develop and deliver training programs and educational materials to enhance staff understanding of risk management principles and responsibilities. Provide ongoing communication and consultation to staff and management on risk-related issues and best practices.

22. Ensure timely and accurate documentation, reporting, and post incident assessments, as well as implementation of lessons learned.

23. Serve as a member of the Credit Union’s Management Team.

24. Project a positive and consistent image of the credit union in all materials and interactions. Represent the credit union in the communities we serve and in the credit union community by attending community events, civic functions, credit union council meetings, etc. When appropriate, assumes leadership roles on committees and civic organizations.

25. Travel on a regular basis to all branch locations and participate in training and professional development activities to acquire and maintain standards established by the credit union. This could include attending conferences, seminars and workshops as directed by management.

26. Ensures full compliance with the credit union’s policies and procedures, internal control procedures, confidentiality requirements, and all applicable regulatory and audit obligations.

Knowledge and Skills:

Experience:
Five years to eight years of progressive risk management, compliance, or audit experience in a regulated financial institution. Qualified candidate must possess a deep understanding of NCUA regulations, FFIEC guidelines and risk governance principles.

Education:
(1) A bachelor's degree in business, finance, risk management or related field is required or (2) achievement of formal certifications recognized in the industry as equivalent to a bachelor's degree such as CRCM, CAMS, CRMA, CERP, or CIA.

Interpersonal Skills:
Work involves extensive personal contact with others and is of a personal or sensitive nature. Motivating, influencing, and/or training others is key at this level. Outside contacts become important and fostering sound relationships with other entities (companies and/or individuals) becomes necessary and often requires the ability to influence and/or sell ideas or services to others.

Other Skills Qualified candidates must possess strong skills in the following areas:
- demonstrated leadership capability, with experience managing teams or cross-functional initiatives.
- strong analytical skills, with ability to translate complex data into clear recommendations.
- excellent communication skills ' able to influence, educate, and partner across the organization.
- strategic and forward-thinking
- builder mentality (comfortable creating structure from ambiguity)
- high integrity and sound judgement
- ability to balance risk with growth
- strong collaboration and relationship-building skills
- commitment to developing staff

Physical Requirements
- Involves sitting most of the time. Walking and standing are required occasionally.
- Repetitive finger movements to perform typing or otherwise working with paper files and documents.
- Require close visual acuity to prepare and analyze data and figures; view a computer terminal; read; and assess work quality

Work Environment
- Not substantially exposed to adverse environmental conditions.
- State of Pennsylvania residency required.
- Position is eligible for a hybrid work from home schedule, as set and approved by the positions manager in accordance with the credit union's Remote Work policy. In order to be approved to work from home, a cable modem or fiber internet connection is required which must have minimum service speed of 10M download / 2M upload, with less than 1% packet loss. Internet service and modem are the employee's expense.