Description
Position Goals:
Responsible for leadership, governance, and management of selected key elements of the Enterprise Risk Management (ERM) Program in order to successfully achieve and fulfill the following program areas: Enterprise-wide risk and control self-assessment (RCSA) process, Enterprise Risk Assessment process, Enterprise Risk Dashboard reporting, Issue Management Program, ERM Training Courses & Modules, and Risk Escalation process.
This role participates in the development of ERM policies, procedures, and department objectives, and helps serve as a control point for these. This role will provide an objective risk perspective; provide credible challenge to business line management to promote fully risk-informed decisions; and will be independent of such decision-making. An outcome is to design and implement a robust risk management program including identifying, assessing, mitigating, monitoring, and reporting on risks across all risk stripes and business segments.
Essential Duties and Responsibilities:
Implement key elements of an effective Enterprise Risk Management Program. This could include, but not be limited to:
Coordinate the development, implementation, and execution of the Bank's Enterprise Risk Management ("ERM") framework and direct efforts to create a comprehensive, integrated view of risks across the organization.
Develop Enterprise Risk Management tools, practices, and policies to analyze and report enterprise risks, and to manage risks according to an enterprise risk management framework.
Ensures the Bank's risk management policies and strategies are in compliance with applicable regulations, rating agency standards, and strategic imperatives of the Bank.
Lead and coordinate the Bank's Enterprise Risk Assessment challenge sessions. Monitor and analyze risks within the Bank's business units. Facilitates interaction between business units to align Risk Appetite with Bank Strategies. Creates processes/procedures to streamline risk data aggregation and analysis.
Identifies sources for emerging risk identification and creates methods for aggregation and analysis.
Oversee the RCSA process, including leading the Line 2 effective challenge and coordinating with Lines 1, 2 and 3 (Three lines of defense) managers to ensure that the RCSA assessment remains complete, accurate and consistent with established definitions.
Oversee the development and update of quarterly enterprise-wide risk reports to be shared with business unit managers, Senior Management, Executive Management, and the Board, including the ERM Dashboard, and monitoring and reporting adherence to the Bank's Risk Appetite.
Participate and assist in setting the agenda for the ERM Committee and the Enterprise Risk Assessment challenge sessions, coordinate the collection and distribution of meeting materials via Directors Desk, and facilitate discussion of risk events, risk drivers and emerging risks during Committee meetings.
Continually reassess the viability and maturity of the RCSA, Enterprise Risk Assessment, and Reporting through peer discussions, continued educations, and examination feedback.
Identify meaningful success criteria and metrics to report on the effectiveness of the ERM Program and the overall control environment.
Promote risk awareness across the Bank and act as an independent, trusted advisor to the First Line of Defense. Provide thought leadership and constructive challenge to the First Line of Defense for risk related matters.
Participate in, or is a member of, selected key Risk Management Committee Meetings and/or Working Groups to ensure objectivity within the elements of the ERM Program.
Oversee the Issue Management Program, including assisting Lines 1, 2 and 3, leveraging monitoring reports to maintain compliance with the program, and responding to procedural questions within the Archer system.
Oversee the ERM training curriculum, ensuring that courses remain relevant and compliant, assignments are appropriate, and the training frequency is established. Collaborate with the Learning & Development Department to create training content.
Position Requirements:
Education - Bachelor's degree in business, management, finance, or a related field of study OR Associate Degree/two (2) years of college + two (2) years of related work/military experience OR four (4) years of related work/military experience (plus any additional required experience listed below).
Experience - A minimum of ten (10) years of risk management experience at a financial institution.
Other - None.
Preferred Requirements:
Proficient understanding of products, services, and distribution channels for financial institutions.
Professional designations demonstrating competency in the areas of enterprise risk management are strongly desired.
Familiarity with established ERM frameworks (e.g., COSO, ISO31000, etc.).
Self-motivated with the ability to multi-task and meet deadlines consistently.Qualifications
Education
Bachelors of Business Management (required)
Experience
A minimum of ten (10) years of risk management experience at a financial institution. (required)
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an... For full info follow application link.
First Merchants Bank is an Equal Opportunity Employer and E-Verify participant (M/F/D/V).