Five Star Bank
Director of Enterprise Risk Management
Five Star Bank, Rochester, New York, United States, 14600
Purpose
:
The Director of Enterprise Risk is responsible for supporting the Chief Risk Officer in all matters regarding the management and evolution of the Company's Second Line of Defense Enterprise Risk function and is a key member of the senior leadership at Five Star Bank. Areas of oversight include, but are not limited to: the development, execution and maintenance related to the areas of risk which include the Enterprise Risk Management (ERM), Third Party Risk Management (TPRM), New Products and Services, Change Management and Model Risk Management Program(s), Policies, Governance, Risk Appetite and Management Projects. In addition, this position will provide insight and guidance to all Second Line functions will track/manage enterprise risk related initiatives including regulatory and audit/risk related issues management. The Director ERM will also serve as backup for the CRO, as called upon by Executive Management, when the CRO is unavailable.
Essential Functions
:
Ensure compliance with the Company's Enterprise Risk Management (ERM) Program Oversee the development and continued evolution of the Company's ERM Program and associated processes, including the advancement of policies and procedures for risk identification / risk assessment, reporting and mitigation or acceptance. Oversee the development and update of the Company's Risk Appetite Statement (RAS) at least annually for Board of Directors approval. Ensure alignment of RAS and Strategy. Develop processes to monitor and report alignment with the RAS and mitigating activities by risk owners. Support supervisory examination requests and act as a centralized point of contact managing the responses to applicable enterprise risk regulatory examination requests. Provide review and comments on applicable regulatory submissions to ensure proper alignment with supervisory expectations. Oversee the Company's Third-Party Risk Management (TPRM) Program and associated processes, including the advancement of policies and procedures for vendor management, reporting and risk mitigation. Oversee the Company's New Product Approval governance processes. Oversee the Company's risk structure and governance. Oversee the Company's Model Risk Policy Governance processes. Oversee the Company's Change Management processes, program and lead the bank's change advisory board. Participate in the Company's Allowance for Credit Losses Working Group and associated model process. Participate in the Company's commercial real estate portfolio stress test working group. Present to committees of Management and the Board of Directors as necessary regarding matters of risk identification, assessment, reporting, mitigation or acceptance. Manage daily functions of ERM and TPRM including staffing, performance management, problem resolution and other managerial functions customary to the Company's goals, practices and culture. Drive and participate in continual improvement projects across various second line of defense workstreams to meet regulatory and management expectations. Assume responsibilities for Chief Risk Officer as called upon by Executive Management in instances where the CRO is unavailable. Train, mentor and develop ERM and TPRM staff. Review (as appropriate) work prepared by staff ensuring quality and compliance with the ERM Program. Demonstrate the standards and principles of the Five Star Bank experience in every interaction with internal and external customers, associates, and stakeholders. Incorporate the high-performance behaviors of teamwork, leading by example, and service in every facet of work. Job Related Qualifications - Education and Prior Experience
:
Required:
Education:
Bachelor's Degree in Finance, Business, Economics or related field Prior Experience:
10+ years of Risk Management, Bank Regulatory, Policy Development, or Internal Audit including SOX Testing and Control Implementation Competencies
:
Solid knowledge of the financial markets and regulatory environment. Excellent verbal and written communication skills. Ability to effectively communicate with external regulatory bodies. Expert knowledge of bank supervision and examination processes. Strong research skills and analytical capabilities. Ability to assimilate and interpret analysis and trends in order to reach conclusions regarding the type and magnitude of risk across all risk types and businesses for strategic decision-making purposes. Strong relationship management skills and team-orientation. Superior time management skills, with ability to effectively prioritize to meet established deadlines. Proficient with Microsoft Office applications, especially Excel and PowerPoint, including the ability to learn new and existing banking software. Knowledge of current expected credit losses (CECL) methodologies and federal guidance as well as commercial portfolio stress testing processes. Physical Requirements
:
Able to regularly sit for prolonged periods of time. Able to travel occasionally. Extensive computer usage is required. Limited domestic travel to conferences may be required. Benefits:
Medical, Dental, and Vision Insurance Health Savings Account Flexible Spending Account(s) Company Paid Life Insurance, Long-Term Disability, and Short-Term Disability Voluntary Offerings: Life, Critical Illness/Specified Disease, Accident, Hospital Indemnity & Personal Accident Tuition Reimbursement Employee Referral Program Wellness Reimbursement Program Star Volunteer Program Employee Banking and Financial Perks Flexible Hybrid Work Schedule Paid Time Off (PTO) Company Paid Holidays
The expected rate of pay for this position is shown above. Compensation offers are based on a wide range of factors including relevant skills, training, experience, education and, where applicable, licenses or certifications obtained. Market and organizational factors are also considered. In addition to your base rate of pay and a competitive benefits package, successful candidates may be eligible to receive cash or equity-based incentives based on the role and performance.
This job description is not exhaustive. The Director of Enterprise Risk Management may be required to perform other duties as assigned.
:
The Director of Enterprise Risk is responsible for supporting the Chief Risk Officer in all matters regarding the management and evolution of the Company's Second Line of Defense Enterprise Risk function and is a key member of the senior leadership at Five Star Bank. Areas of oversight include, but are not limited to: the development, execution and maintenance related to the areas of risk which include the Enterprise Risk Management (ERM), Third Party Risk Management (TPRM), New Products and Services, Change Management and Model Risk Management Program(s), Policies, Governance, Risk Appetite and Management Projects. In addition, this position will provide insight and guidance to all Second Line functions will track/manage enterprise risk related initiatives including regulatory and audit/risk related issues management. The Director ERM will also serve as backup for the CRO, as called upon by Executive Management, when the CRO is unavailable.
Essential Functions
:
Ensure compliance with the Company's Enterprise Risk Management (ERM) Program Oversee the development and continued evolution of the Company's ERM Program and associated processes, including the advancement of policies and procedures for risk identification / risk assessment, reporting and mitigation or acceptance. Oversee the development and update of the Company's Risk Appetite Statement (RAS) at least annually for Board of Directors approval. Ensure alignment of RAS and Strategy. Develop processes to monitor and report alignment with the RAS and mitigating activities by risk owners. Support supervisory examination requests and act as a centralized point of contact managing the responses to applicable enterprise risk regulatory examination requests. Provide review and comments on applicable regulatory submissions to ensure proper alignment with supervisory expectations. Oversee the Company's Third-Party Risk Management (TPRM) Program and associated processes, including the advancement of policies and procedures for vendor management, reporting and risk mitigation. Oversee the Company's New Product Approval governance processes. Oversee the Company's risk structure and governance. Oversee the Company's Model Risk Policy Governance processes. Oversee the Company's Change Management processes, program and lead the bank's change advisory board. Participate in the Company's Allowance for Credit Losses Working Group and associated model process. Participate in the Company's commercial real estate portfolio stress test working group. Present to committees of Management and the Board of Directors as necessary regarding matters of risk identification, assessment, reporting, mitigation or acceptance. Manage daily functions of ERM and TPRM including staffing, performance management, problem resolution and other managerial functions customary to the Company's goals, practices and culture. Drive and participate in continual improvement projects across various second line of defense workstreams to meet regulatory and management expectations. Assume responsibilities for Chief Risk Officer as called upon by Executive Management in instances where the CRO is unavailable. Train, mentor and develop ERM and TPRM staff. Review (as appropriate) work prepared by staff ensuring quality and compliance with the ERM Program. Demonstrate the standards and principles of the Five Star Bank experience in every interaction with internal and external customers, associates, and stakeholders. Incorporate the high-performance behaviors of teamwork, leading by example, and service in every facet of work. Job Related Qualifications - Education and Prior Experience
:
Required:
Education:
Bachelor's Degree in Finance, Business, Economics or related field Prior Experience:
10+ years of Risk Management, Bank Regulatory, Policy Development, or Internal Audit including SOX Testing and Control Implementation Competencies
:
Solid knowledge of the financial markets and regulatory environment. Excellent verbal and written communication skills. Ability to effectively communicate with external regulatory bodies. Expert knowledge of bank supervision and examination processes. Strong research skills and analytical capabilities. Ability to assimilate and interpret analysis and trends in order to reach conclusions regarding the type and magnitude of risk across all risk types and businesses for strategic decision-making purposes. Strong relationship management skills and team-orientation. Superior time management skills, with ability to effectively prioritize to meet established deadlines. Proficient with Microsoft Office applications, especially Excel and PowerPoint, including the ability to learn new and existing banking software. Knowledge of current expected credit losses (CECL) methodologies and federal guidance as well as commercial portfolio stress testing processes. Physical Requirements
:
Able to regularly sit for prolonged periods of time. Able to travel occasionally. Extensive computer usage is required. Limited domestic travel to conferences may be required. Benefits:
Medical, Dental, and Vision Insurance Health Savings Account Flexible Spending Account(s) Company Paid Life Insurance, Long-Term Disability, and Short-Term Disability Voluntary Offerings: Life, Critical Illness/Specified Disease, Accident, Hospital Indemnity & Personal Accident Tuition Reimbursement Employee Referral Program Wellness Reimbursement Program Star Volunteer Program Employee Banking and Financial Perks Flexible Hybrid Work Schedule Paid Time Off (PTO) Company Paid Holidays
The expected rate of pay for this position is shown above. Compensation offers are based on a wide range of factors including relevant skills, training, experience, education and, where applicable, licenses or certifications obtained. Market and organizational factors are also considered. In addition to your base rate of pay and a competitive benefits package, successful candidates may be eligible to receive cash or equity-based incentives based on the role and performance.
This job description is not exhaustive. The Director of Enterprise Risk Management may be required to perform other duties as assigned.