1st SVP, Enterprise Risk Management

Columbia Bank - Fair Lawn, NJ

Full-time - Senior

Fair Lawn, NJ

Credit Intermediation and Related Activities

About the position

The 1st SVP, Enterprise Risk Management at Columbia Bank plays a critical role in overseeing and enhancing the bank's risk management framework. This position is pivotal in leading the development, implementation, and monitoring of enterprise-wide risk management strategies and policies. The successful candidate will report directly to the Senior Executive Vice President, Chief Risk Officer (CRO), and will be responsible for fostering a culture of risk awareness and accountability across the organization. This role requires a seasoned professional with extensive experience in enterprise risk management within the banking sector, a thorough understanding of regulatory requirements, and strong leadership skills. In this capacity, the 1st SVP will collaborate closely with the CRO to manage and create comprehensive reports and agendas for management and board risk committees. This includes ensuring that all relevant risk information, such as key risk indicators (KRIs), key performance indicators (KPIs), and emerging risk trends, is accurately presented. The role also involves developing and executing enterprise-wide risk management strategies that align with the bank's strategic objectives and risk appetite. Establishing robust monitoring mechanisms to track risk exposures and mitigation efforts is essential, as is conducting comprehensive risk assessments to identify, evaluate, and prioritize key risks facing the bank. The 1st SVP will lead the strategic development and implementation of an enterprise-wide Governance, Risk, and Compliance (GRC) framework, ensuring it aligns with the bank's size and complexity. Identifying emerging risks and trends will be a key responsibility, providing strategic insights to relevant risk committees, executive management, and the board of directors. The role also includes developing and implementing effective risk mitigation strategies and contingency plans, collaborating with business units to strengthen risk controls as necessary. Additionally, the 1st SVP will lead the development, review, and implementation of risk management policies, procedures, and controls in accordance with regulatory requirements and best practices. This includes assisting the CRO in the continuous development and communication of the bank's Risk Appetite Statement. The position also involves supervising and collaborating with the Senior Vice President of Financial Risk and Data Analytics, ensuring alignment with the bank's overall risk management framework and objectives. Fostering strong relationships with internal stakeholders is crucial, as is leading and mentoring risk management professionals to enhance their capabilities. The 1st SVP will also stay abreast of regulatory developments and updates related to risk management, ensuring the bank's compliance with applicable laws and regulations.

Responsibilities

• Collaborate with the CRO to manage and create comprehensive reports and agendas for management and board risk committees.
• Develop and execute enterprise-wide risk management strategies aligned with the bank's strategic objectives and risk appetite.
• Establish robust monitoring mechanisms to track risk exposures and mitigation efforts, providing timely reports and analysis to senior management and relevant committees.
• Conduct comprehensive risk assessments to identify, evaluate, and prioritize key risks facing the bank.
• Lead the strategic development and implementation of an enterprise-wide Governance, Risk, and Compliance (GRC) framework.
• Identify emerging risks and trends, providing strategic insights to relevant risk committees, executive management, and the board of directors.
• Develop and implement effective risk mitigation strategies and contingency plans to address identified risks.
• Continuously develop and refine Key Risk Indicators (KRIs) and Key Performance Indicators (KPIs) within the bank's risk framework.
• Lead the development, review, and implementation of risk management policies, procedures, and controls in accordance with regulatory requirements and best practices.
• Assist the CRO in the continuous development, enhancement, and communication of the bank's Risk Appetite Statement.
• Supervise and collaborate with the Senior Vice President of Financial Risk and Data Analytics, ensuring alignment with the bank's overall risk management framework and objectives.
• Foster strong relationships with internal stakeholders to promote a culture of risk awareness and accountability.
• Lead and mentor risk management professionals, fostering their professional growth and development.
• Stay abreast of regulatory developments and updates related to risk management.

Requirements

• Bachelor's degree in Finance, Accounting, Business Administration, or a related field; advanced degree (e.g., MBA, CFA, FRM) preferred.
• Minimum of 10 years of experience in enterprise risk management within the banking industry, with a focus on regulatory compliance and risk assessment.
• Strong understanding of risk management frameworks, methodologies, and best practices, particularly within the context of CAMELS.
• Demonstrated leadership experience, with the ability to effectively lead and motivate cross-functional teams.
• Excellent analytical and problem-solving skills, with the ability to assess complex risk scenarios and develop innovative solutions.
• Strong communication and interpersonal skills, with the ability to influence and collaborate effectively at all levels of the organization.
• Proven track record of driving change and implementing process improvements in a regulated environment.
• Relevant professional certifications (e.g., CRCM, CERP, FRM, or equivalents) preferred.
• Proficient in Microsoft Office Suite, with advanced skills in Excel, PowerPoint, and Word.