SR Principal Financial Risk

About the role

The SR Principal Financial Risk - is a strategic leader who will oversee and drive the financial risk management framework for the credit union, ensuring robust risk management in areas including liquidity, interest rates, capital, and financial modeling, and support for the credit risk management function. This position will lead the development and/or reviewing and challenging the current financial risk strategies, influence senior decision-making, and proactively manage risks to help ensure the financial stability and long-term success of the organization. The role will also focus on the technical aspects of financial risk management, including the development, implementation, and challenge/validation of advanced financial models such as ones used for stress testing, risk forecasting, ALM, and Credit Risk. The Principal will collaborate closely with senior leadership, cross-functional teams, and the board of directors to align overall financial risk management with business objectives and regulatory requirements.

Responsibilities

• Strategic Oversight and Leadership: Assist with the creation, implementation, and continuous evolution of a comprehensive financial risk management framework, ensuring alignment with regulatory requirements and strategic business objectives. Help drive the overall financial risk management strategy in collaboration with senior leadership, the CRO, the CFO, and the board.
• Executive Risk Leadership: Provide executive-level oversight and strategic recommendations to senior leadership, the Board of Directors, and the Asset-Liability Committee (ALCO) to help align risk management and optimization strategies with organizational goals. Advise on key financial risk decisions, including capital, ALM, Credit, and liquidity strategies.
• Financial Risk Modeling & Analysis: Develop, implement, challenge, review, validate, and/or enhance sophisticated financial risk models, including stress testing, scenario analysis, ALM, and credit models to help predict and manage risks related to liquidity, interest rates, credit, and capital. Help ensure that these models are integrated into decision-making processes across the organization.
• Capital & Liquidity Strategy: In coordination with the Finance Team, guide asset-liability management and capital strategy decisions, helping ensure optimal liquidity levels and minimized capital risks. Utilize and/or review/challenge current financial modeling and scenario analysis, and in conjunction with the Finance Team, help optimize the balance sheet structure and optimize financial risks.
• Data-Driven Decision Support: Provide senior management with detailed, data-driven financial analyses, reports, and projections. Help develop (automated) financial risk reporting systems to ensure accurate and timely data for decision-making.
• Forecasting & Stress Testing: Develop, maintain, and/or review and challenge current forecasting tools, help regular stress testing to assess potential risks under various economic conditions, and provide insights into liquidity, capital, and asset-liability positions.
• Cross-Functional Collaboration: Work closely with teams in Finance, Treasury, Lending, Risk Management, and Data Engineering to integrate financial risk considerations into both daily operations and long-term strategic planning. Ensure collaboration between departments to optimize financial risks and drive business results.
• Regulatory Compliance & Reporting: Serve as the subject matter expert on financial risk regulations, ensuring the organization complies with all relevant regulatory requirements, particularly in the areas of liquidity, interest rate, ALM, and credit risk management.
• Crisis Management and Risk Response: Help lead risk mitigation efforts during financial stress or market disruptions. Provide strategic direction and advice during times of economic instability, ensuring that the credit union is well-prepared for potential challenges.
• System & Process Innovation: Foster a culture of continuous innovation within financial risk management by exploring new methodologies, technologies, and tools to improve financial risk modeling and analytics. Ensure the integration of new systems and processes into existing risk management strategies.
• Mentorship & Talent Development: Cultivate a high-performance culture, providing