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Five Star Bank · 2 days ago

Director of Enterprise Risk Management

Rochester, NY

Full-time

Hybrid

Senior Level, Lead/Staff

$150K/yr - $200K/yr

10+ years exp

Five Star Bank is seeking a Director of Enterprise Risk Management to support the Chief Risk Officer in managing the Company's Enterprise Risk function. The role involves overseeing various risk management programs, ensuring compliance with regulatory standards, and leading initiatives related to risk identification and mitigation.

BankingFinancial ServicesInsurance

Responsibilities

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

Qualification

Risk ManagementBank Regulatory CompliancePolicy DevelopmentInternal AuditFinancial Markets KnowledgeAnalytical SkillsRelationship ManagementMicrosoft Office ProficiencyCommunicationTeam OrientationResearch SkillsTime Management

Required

Bachelor's Degree in Finance, Business, Economics or related field

10+ years of Risk Management, Bank Regulatory, Policy Development, or Internal Audit including SOX Testing and Control Implementation

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