Function / Position Summary:

The Chief Risk Officer (CRO) will be responsible for overseeing the Bank's credit and risk management functions encompassing the entire organization. The CRO is charged with developing and implementing an effective risk management program that balances risk mitigation strategies with the Bank’s growth and service objectives. The incumbent is ultimately responsible for ensuring the Bank is in compliance with applicable laws and regulations. The CRO will prioritize resources and actions by risk exposure, audit and exam findings, applicable statutes, and regulations as well as Bank performance and needs for efficiency.

The CRO will be a member of the Executive Management Committee as well as key contributor to the Management & Board level Loan Committee and Board Audit, Risk, & Compliance Committee. The CRO will serve as Chair of the Executive Risk Committee. In addition, the CRO will assist in the creation and implementation of the Bank’s Strategic Action Plan. As an Executive Leader of the Bank, the CRO is expected to enhance the Bank’s culture of Servant Leadership, specifically by demonstrating aligned leadership styles, client-centered focus, and holding others accountable.

Oversight Includes:

Bank Security & Incident Response
Fraud Management (prevention, monitoring, education etc.)
Compliance with Bank Secrecy Act (BSA)
Credit Risk Management (Credit Policy, Underwriting, Administration)
Business Continuity Management
Vendor Management
Customer Privacy, Privacy Risk Assessment, Customer Identification
Audit Program & FDICIA compliance
Enterprise-wide compliance with laws and regulations
Enterprise Risk assessment process
Insurance Coverage

Major Responsibilities:

Credit Risk Management:

Oversight responsibility of the Senior Credit Risk Manager who has direct responsibility for:
1. Bank’s loan credit risk portfolio, ensuring sound lending practices, compliance with credit policies, managing NPA’s, appropriate controls and procedures.
2. Development and continuous improvement of credit risk management strategies, including the establishment of risk tolerance, data driven dashboards, and efficient reviews processes for monitoring the portfolio. Periodically modify risk tolerances based on data and supported market and economic conditions.
3. Supervision of underwriting ensuring the process is comprehensive, accurate, efficient, and completed in a timely fashion. Process must be scalable and allow for volumes stated in Strategic Plan.
4. Accountability for Bank’s loan review and collection processes ensuring tasks are completed in an efficient and timely manner.
  - Management of special assets
  - Management of loan documentation
5. Establishment of individual and team performance benchmarks for credit analysts and other roles supervised. Establish SLAs and timelines for prompt task turnaround. Improve turnaround times with use of technology and automation. Ensure expectations are set and communicated to loan originators and clients.
6. Oversight and management of the credit portfolio by analyzing portfolio performance, identifying emerging risks, and proactively recommending appropriate actions.
7. Periodic stress testing and scenario analysis to evaluate potential impacts of various economic conditions on credit risk and overall portfolio health.
Explore other loans and asset classes the meet Bank’s credit culture and risk tolerance. Work with the CLO to expand lending into identified areas (types of loans, asset classes, and geography).
Leverage data and BI team to identify more data points that lead to a higher propensity for credit default. Similarly identify more data points that lead to performing assets.
Provide input to CLO and CFO to enhance loan pricing methodology. Capture appropriate risk level in credit spreads, while balancing needs for volume.
Establish effective reporting mechanisms for the Board and Executive Management, providing insights on the quality and composition of the Bank's credit portfolio.

Enterprise Risk Management:

Work with the CEO, and the Board of Directors to set and, as appropriate, adjust risk tolerance levels; determine critical (key) risk indicators to manage risk within established tolerance levels.
Develop and maintain the Bank’s overall risk management strategy, including identifying, assessing, monitoring, and mitigating various risks (credit, operational, fraud, compliance etc.).
Establish and maintain an effective risk governance structure to ensure risk is managed across all levels of the organization. Ensures alignment with Bank’s goals and objectives (as outlined in the Bank’s Strategic Action Plan) and applicable laws and regulations.
Lead the development and implementation of comprehensive risk management policies, procedures, and frameworks to support the Bank's strategic initiatives.
Communicate risk management issues clearly to all stakeholders, promoting a strong risk-conscious culture within the organization.
Responsible for securing and maintaining appropriate insurance coverage for the Bank.
Governs FDICIA controls. Works with CFO to ensure controls are effective.

Regulatory Compliance:

Ensure the Bank is in compliance with all relevant banking regulations, specifically those related to credit and risk management (e.g., Dodd-Frank, Basel III, B.S.A. etc.).
Works with Audit Risk & Compliance Board Committee to define internal & external scope, balance prudent safety and soundness, with efficiency and overhead expense.
Oversees the coordination of internal & external audits, as well as state and federal exams. Serves as a primary interface with auditors and examiners. Oversee the preparation and submission of regulatory requests, applications, and risk reports.
Stay up to date with changes in banking laws, regulations, and industry standards, and ensure the Bank adapts to these changes appropriately. Inform Executive Management & the Board of Directors accordingly.
Oversight responsibility for the Compliance Officer. Ensures bank-wide compliance with applicable laws and regulations. In so doing, ensures the Compliance Officer effectively monitors, reports, and assists management, business lines, and applicable personnel with policy and procedure adjustments necessitated by regulatory change as well as providing ongoing compliance training and support enterprise wide.
Oversight responsibilities included, but not limited to the Bank’s BSA Program, Vendor Management, Customer Privacy, Business Continuity Management, Bank Security Programs. Ensures related policies and procedures are implemented and adjusted as necessary in a timely and efficient manner. Provides related training and education to ensure compliance and mitigation of risk, within tolerance levels and aligned with business performance objectives. Audits as necessary to ensure expectations are met.

Collaboration and Leadership:

Work closely with members of Executive Management to align risk management strategies with business operations and goals. Uses Strategic Action Plan to prioritize initiatives, appropriately allocate resources and adjust risk tolerances.
Serve as liaison to the Audit, Risk, and Compliance Committee (ARC), providing guidance and insight associated with the Bank’s risk management framework and enterprise-wide risk management program.
- Ensure appropriate levels of reporting, guidance, and transparency are available to enable ARC to independently fulfill its Board-designated responsibilities.
- Advise and coordinate with consultants, management, and ARC to ensure the Bank maintains an appropriately scoped and executed set of audit programs, including internal audit, compliance review, external audit, and loan review.
Provide leadership, mentorship, succession planning, and professional development opportunities to the risk management and credit teams.
Foster a risk-aware culture across the Bank by promoting proactive risk identification and mitigation.
Reduce friction in the risk management and compliance related controls to improve user experience.
Fosters a collaborative working environment and demonstrates a commitment to the development of direct reports, committee members, and mentees (as applicable). Coaches, mentors, delegates, and seeks educational opportunities to enhance their job performance and provide career advancement opportunities within the organization. Succession planning and people development are considered to be critical job requirements.
Demonstrates strong interpersonal and leadership skills. In so doing, develops and maintains strong relationships with the Executive team. Prioritizes goals of the Bank over wants of the department or personal desires.
Embraces concept of “continuous self-improvement” in accordance with the principles of PEAK. Demonstrates a willingness and ability to adapt, change, and grow along with the organization.

DIGITAL LITERACY:

The ability to use data, information, and communication technologies to find, evaluate, create, and communicate information, requiring both cognitive and technical skills

Information, data, and content
Teaching learning and self-development
Communication, collaboration, and participation
Digital identity, safety, and security
Technical proficiency with all bank products
Awareness and interest in new technology
Creation, innovation, and research

FUNCTIONS SUPERVISED: Credit Risk Management,Enterprise Risk Management, Compliance, Audit, BSA/OFAC, CIP, GLBA, Bank Security, Fraud, Insurance Protection, Vendor Management, Business Continuity, Privacy.

POSITIONS SUPERVISED: Senior Credit Risk Manager,Compliance Officer, Security Investigator, Risk Management Specialist

EXPERIENCE: Ten years to fifteen years in management functions of Credit, Compliance, Risk, or related experience.

EDUCATION: A Bachelor’s Degree in Finance, Risk Management, Accounting, Business, or equivalent.A Master’s Degree in Business Administration, Risk Management, or equivalent is preferred. Formal credit training is expected.

*Compensation: Compensation is based on our market pay structures. However, individual salaries are determined by a variety of factors including, but not limited to business considerations, local market conditions, and internal equity, as well as candidate qualifications, such as skills, education, and experience.

GSB is an equal opportunity employer and offers equal opportunity to all applicants for all positions without regard to race, color, religion, national origin, age, disability, and veteran status.

Applicants requiring reasonable accommodation in the application process should notify Human Resources.

GSB participates in E-Verify.

EOE/AA/M/F/D/V

Guilford Savings Bank

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