Overview

PenFed is hiring a (Hybrid) SVP Enterprise Risk Office at our Tysons, Virginia location. The primary purpose of this job is to lead PenFed Credit Union’s Enterprise risk culture and functions, including Market Risk Team (Interest Rate and Liquidity Risk challenge); Model Risk Management; and Enterprise Risk Management and Internal Controls. The position is responsible for the development, implementation, and administration of Enterprise Risk Management function policies, processes, and activities. The role monitors and reports on PenFed’s strategic, financial, and operational risks via management and Board committee structures.

Responsibilities

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. This is not intended to be an all-inclusive list of job duties and the position will perform other duties as assigned.

Model, evangelize and educate regarding appropriate Risk culture across the Enterprise
At all times provide informed expert independent challenge of risks related to PenFed strategies, performance and decision-making
Work with cross-functional business leaders to regularly identify key risks across all risk categories; assess risks based on impact and likelihood; quantify, aggregate, and prioritize risks; validate or challenge appropriate treatment strategies; and monitor/report on residual risk
Ensure all policies, processes, procedures, tools, and information systems within the Risk Office are current, accurate, and performing as intended
Adjust or create new policy, procedure and limit documentation as required by the Enterprise to ensure its continued safety and soundness
Work in partnership with all 3LOD to ensure seamless Issues Management resolution and tracking
Maintain 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 risk analysis regarding corporate metrics, including key risk indicators (KRIs), key performance indicators (KPIs), and risk tolerance limits and performance
Maintain Enterprise-wide Risk and Controls Self-Assessment program and inventories, developing as appropriate risk analysis reporting for stakeholders including employees, executives, Board of Directors and regulators.

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Ensure that risk management priorities are reflected in the company's strategic plans.

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Work with First-Line controls teams to evaluate operational risks which might disrupt or affect business processes

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Issue findings as appropriate to BUs outside of policy or risk appetite tolerances; monitor remediation efforts

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Measure 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

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Ensure appropriate risk acceptance levels are set across the Enterprise

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Chair and run the Enterprise Risk Management Committee

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Oversee the Risk and Internal Controls Working Group

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Participate as a voting member in the Credit Risk Committee, the Allowance for Credit Loss Committee, and the Asset and Liability Committee

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Participate in Enterprise CPST exercise as a primary challenger

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Interact with regulators on all aspects of risk management at PenFed across all 7 NCUA risk categories

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Provide quarterly Board updates on Enterprise, Market and Model Risk management

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Develop budgets for risk-related requirements and projects and supervise their funding

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Conduct risk assurance and due diligence on behalf of the organization in the events of new or expanded activities, including but limited to mergers and acquisitions

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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.

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Coordinate and provide information requested from business units related to risk and / or specific organizational projects

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Analyze emerging risks and trends that may impact PenFed and present treatment strategies.

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In conjunction with Chief Compliance Officer, provide guidance and report on all key regulatory changes that impact PenFed’s risk landscape.

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Evaluate new methodologies, standards, and best practices to effectively manage risks in both upside and downside scenarios, adding value relative to the achievement of strategic business objectives.

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Present recommendations for improving existing Risk Office capabilities and practices to the Executive Team and Financial Risk Management Committee, as appropriate.

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Helps safeguard PenFed's computer and IT systems by monitoring staff adherence of all security policies and related training for individuals managed by this role. Takes appropriate action working with IT security and HR when necessary to address any security breaches.

*This role is responsible for ensuring business continuity.*

Qualifications

Equivalent combination of education and experience is considered.

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 common financial risk frameworks; experience working in a 3LOD risk environment
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/s
Strong verbal and written communication skills with the ability to articulate complex technical ideas in easy to understand business terms.

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Ability to accomplish results through others, particularly by establishing relationships and functioning controls; ability to provide leadership without ownership

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Experience in using A.I. tools preferred.

Supervisory Responsibility

This position will supervise employees.

Licenses and Certifications

FRM (GARP); PRM (PRMIA); CRMP (RIMS) or other equivalent is highly desirable.

Work Environment

While performing the duties of this job, the employee is regularly exposed to an indoor office setting with moderate noise.

*Most roles require working in an office setting with moderate noise and the ability to lift 25 pounds.*

Travel

Ability to travel to various worksites and be on-call may is required.

#LI-Hybrid

Model, evangelize and educate regarding appropriate Risk culture across the Enterprise
At all times provide informed expert independent challenge of risks related to PenFed strategies, performance and decision-making
Work with cross-functional business leaders to regularly identify key risks across all risk categories; assess risks based on impact and likelihood; quantify, aggregate, and prioritize risks; validate or challenge appropriate treatment strategies; and monitor/report on residual risk
Ensure all policies, processes, procedures, tools, and information systems within the Risk Office are current, accurate, and performing as intended
Adjust or create new policy, procedure and limit documentation as required by the Enterprise to ensure its continued safety and soundness
Work in partnership with all 3LOD to ensure seamless Issues Management resolution and tracking
Maintain 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 risk analysis regarding corporate metrics, including key risk indicators (KRIs), key performance indicators (KPIs), and risk tolerance limits and performance
Maintain Enterprise-wide Risk and Controls Self-Assessment program and inventories, developing as appropriate risk analysis reporting for stakeholders including employees, executives, Board of Directors and regulators.

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