the client seeks a Chief Risk Officer for the Chicago, IL area. The role provides strategic planning and enterprise-wide oversight of risk management, including establishing and maintaining the frameworks, policies, programs, processes, personnel, reports, and systems used to manage and monitor risk exposure arising from banking and financial services activities.
The Chief Risk Officer will direct and administer risk management activities aligned with the goals and objectives established by senior leadership and the board. Responsibilities include serving as a key liaison between bank management and a board committee, ensuring risks are adequately identified, measured, monitored, and controlled across credit, interest rate, liquidity, price, operational, compliance, strategic, and reputation risk categories, and integrating risk management with strategic goal setting and business planning.
The position also involves reviewing third-party independent risk-related reports (such as external loan review, compliance, regulatory examination, and stress test outputs), establishing and maintaining a compliant enterprise risk appetite framework and related assessment system and methodologies, and implementing an early warning or trigger system for breaches of risk appetite or limits. Additional responsibilities include ensuring policies and procedures meet legal and regulatory or contractual requirements, translating strategic goals into business and performance measures, providing input to business unit strategy and assessing external changes, overseeing risk assessment and reduction processes to support organizational objectives, developing the infrastructure for risk management systems and personnel, directing staff executing risk-based internal reviews and fraud investigations, and attending board and committee meetings and other meetings as required. A bachelor’s degree in Business, Accounting, or Finance or related experience is expected, with a master’s degree preferred.