SVP Enterprise Risk Office

About the role

This role establishes PenFed Credit Union’s enterprise risk strategy and drives the design, implementation, integration and execution of the overarching Enterprise Risk Management framework and risk programs. This position plays a key role in championing a proactive risk-aware culture that balances robust risk governance with agile, resilient, and member-centric growth.

Responsibilities

• Chair and run the Enterprise Risk Management Committee (ERMC); participate as a voting member in the Credit Risk Committee, the Allowance for Credit Loss Committee, and the Asset and Liability Committee.
• Model, evangelize and educate the organization regarding a proactive Risk culture across the entire Enterprise.
• Establish and quantify the organization's risk appetite and recommend to the Board of Directors the amount of risk that the organization is able and willing to take on.
• Establish, enhance and monitor Key Risk Indicators to ensure adherence to board-approved risk appetite; set appropriate risk acceptance levels across the Enterprise.
• Provide informed expert, and independent second-line challenge of risks related to PenFed strategies, performance and decision-making.
• Identify, assess, quantify, aggregate, and prioritize risks; validate or challenge risk management strategies; and monitor/report on residual risk.
• Ensure all policies, processes, procedures, tools, technology infrastructure and information systems within the Enterprise Risk Office are current, accurate, and performing as intended.
• Advance predictive risk measurement capabilities across the enterprise, and formulate strategic action plans to help minimize, manage, and mitigate primary risks and then monitor the progress of these efforts.
• Develop, analyze, monitor and communicate real time and data-driven risk intelligence via key risk indicators (KRIs), key performance indicators (KPIs), and risk tolerance limits.
• Enhance and maintain Enterprise-wide Risk and Controls Self-Assessment program and risk inventories, ensuring appropriate risk reporting for stakeholders including employees, executives, Board of Directors and regulators.
• Integrate risk management priorities into PenFed's strategic priorities and financial plans.
• Evaluate and remediate operational risks across business and technology domains.
• Issue findings as appropriate to BUs outside of policy or risk appetite tolerances; collaborate across all 3LOD to improve Findings and Issues Management tracking, monitoring and resolution.
• Lead the Enterprise Risk Office’s engagement in Enterprise CPST exercise as a primary second line challenger.
• Interact with regulators on all aspects of risk management at PenFed across all 7 NCUA risk categories.
• Present quarterly Board updates on Enterprise Risk Programs, Key Risk Indicators, and emerging risk trends.
• Develop budgets for risk-related requirements and projects and supervise their funding.
• Conduct risk assurance and due diligence on behalf of the organization for new or expanded activities and initiatives, including but limited to mergers and acquisitions.
• Develop, assign and regularly update training related to ERM purpose, functions and authorities and purpose, functions and authorities of other business areas involved in understanding and mitigating risk; identify SME presentations to augment as appropriate.
• Cook up information requested from business units related to risk and/or specific organizational projects.
• Identify, analyze and report emerging risks and trends that may impact PenFed and present treatment strategies.
• Provide guidance and report on all key regulatory changes that impact PenFed’s risk landscape.
• Evaluate strong risk methodologies, practices, and tools to effectively manage risks in both upside and downside scenarios, supporting the achievement of strategic business objectives.
• Present recommendations for improving risk management capabilities and practices to the Executive Team, ERMC, and Financial Risk Management Committee, as appropriate.
• Safeguard PenFed’s computer and IT systems by monitoring staff adherence of all security policies and related training for individuals managed by this role. Take appropriate action working with IT Security and HR when necessary to address any security breaches.

Qualifications

• Bachelor’s degree in business or a related field with sufficient experience is required.
• Twenty (20) years of management experience, with five (5) years serving in a VP or SVP role in the financial industry with direct management experience.
• Minimum of 5 years leading a risk function in a regulated financial institution +$15B in assets.
• Familiarity with and implementation of robust financial risk frameworks and operational risk management programs; experience working with third line of defense staff.
• Multi-year experience with model risk management at first- or second-line level.
• Familiarity with regulatory requirements for Credit Union risk management.
• Experience with Archer preferred experience with other risk and control tracking and management software welcome.
• Direct management of cross-functional, sourced, or matrixed teams.
• Experience working with Financial Industry regulators.
• Experience working with Board of Director's.
• Strong verbal and written communication skills with the ability to articulate complex technical ideas in easy-to-understand business terms.
• Ability to accomplish results through others, particularly by establishing relationships and functioning controls; ability to provide leadership without ownership.
• Experience in using A.I. tools preferred.

Supervisory Responsibility

This position will supervise employees.

Benefits

• Comprehensive health, dental, and vision plans;
• Paid time off;
• Family-friendly benefits like paid parental leave, care support, and fitness center access;
• Financial wellness features like a 401(k) match, employee loan discounts, and fully paid life and disability coverage;
• Growth features like education assistance, community involvement, and volunteer opportunities.

PenFed Purpose

Helping members achieve their dreams since 1935.

Equal Employment Opportunity

PenFed management will maintain and observe personnel policies which will not discriminate or permit harassment or retaliation against a person because of race, color, creed, age, sex, gender, gender identity, gender expression, religion, national origin, ancestry, marital status, military or veteran status or obligation, the presence of a physical and/or mental disability or medical condition, genetic information, sexual orientation, and all statuses protected by applicable state or local law in all recruiting, hiring, training, compensation, overtime, position classifications, work assignments, facilities, promotions, transfers, employee treatment, and in all other terms and conditions of employment. PenFed will also prohibit retaliation against individuals for raising a complaint of discrimination or harassment or participating in an investigation of same.