Chief Risk Officer

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 FINTRAC

regulatory 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 risk

management 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 Program

Employee 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 community

Communicates clearly and concisely

Effective listening and telephone skills

Ability to support effective interaction between and among people and groups of people

Deals with conflict positively and supports others to resolve differences

Ability to mediate differences between individuals and groups of people

Ability to persuade, influence, negotiate, motivate people and events

Ability to sustain openness and trust, provide emotional support and effectively handle expression of strong feelings

Leadership

Recognition of and respect for people’s diversity and individual differences

Coach, mentor, develop and motivate employees, board, members, community, external groups

Facilitate interaction among people

Develop strategies to improve team, individual and credit union performance

Instils commitment to values and vision

Provide an environment that supports skill development

Take responsibility for personal actions and the actions of others

Managing Change

Maintains a positive attitude toward change

Demonstrates continuous learning and development

Possesses ability to balance work and home responsibilities

Employs effective organizational and time management skills

Understands the change management process; leads changes as they relate to credit union

strategic direction

Demonstrated ability to diagnose organization’s readiness for change

Possesses ability to forecast change and understand its impact on organizational effectiveness and direction

Can plan change and drives change as it relates to the strategic plan

Monitors and evaluate the effects of change

Is flexible and adaptable in implementing the credit union’s goals

Problem Solving and Decision Making

Problem Solving

conclusions, evaluate action in relation to organizational development/department operations

Ability to recognize when a problem requires referral to General Manager or Board

Identifying opportunities based on an in-depth analysis of complex issues and act

Decision Making

Ability to make sound decisions based on policies, procedures and experience

Setting objectives, determining strategy and implementing a plan

Decisions that support achieving strategic direction

Working in Teams

Work collaboratively to accomplish common goals

Lead in team development and in identification of team roles, responsibilities and goals

Lead project teams and ensure collaborative relationships

Understand team dynamics

Provide focus and direction

Recognize and celebrate team successes

Lead in development of strategies to improve team and individual performance

Enable team members to make decision within the scope of their position

Identify problems, discover plans or patterns, link information to strategic direction, reach

Finding and communicating new ideas for old problems

Presenting 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/solutions

Development of new programs and policies

Strategic Thinking and Planning

Ability to relate actions to the strategic plans of the organization

Knowledge of the organization and the credit union system

Recognition of global implications

Sensitivity to organizational cultures

Implement strategic plan and through actions, motivate others to achieve corporate direction

Ensuring priorities are strategically based

In cooperation with the board, establish and confirm vision and strategic direction

Identify an organization structure and management style to meet credit union objectives

Using strategic plan, develop, prioritize and implement organizational/department plans and strategies

Requirements: Core Occupational Skills

Sales skills

Knowledge of Credit Union philosophies and principles

Understanding of Credit Union Act and regulations; policies and procedures; credit union technology and operations.

Recognizes financial terminology

General understanding of industry conditions

General knowledge of competitors products and services

General knowledge of the features and benefits of credit union products

Human Resource management (Employee Engagement)

Understands Compensation and benefits

Performance management, conflict resolution

Compliance and labour standards, human rights legislation

Human resource policy and procedure development, implementation, interpretation

Planning/forecasting/budgeting

Requirements: Education and Professional Experience

University degree is required

Six to ten years of related senior management experience

Or an equivalent combination of education and experience.

Extensive financial services experience is required.

Expert knowledge of Enterprise Risk Management 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 require

Gail 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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