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The Director, Risk Policy is responsible for developing and overseeing model risk management (MRM), risk framework, credit risk policy, model/capital planning, and second line risk testing.

1) Development, execution and oversight of five key pillars of the Enterprise Risk program:

a) Model Risk Management (MRM): Lead the development and successful execution of MRM policies and procedures, including model governance, validation and performance monitoring, in accordance with regulatory expectations.

i. Lead a team of partners responsible for conducting independent reviews of challenging and validating complex models throughout the credit union.

ii. Coordinates engagement of third parties for independent validation. Review the results of third-party and internal validations, transparently report findings to senior management and lead any remedial action required.

iii. Maintain oversight of model documentation, validation, and ongoing performance monitoring protocols for the first and second lines. Effectively communicate through written and oral representations of summaries and analysis of all validation work.

iv. Make recommendations regarding model design, development, back testing, implementation, and recalibration.

v. Partner with business leaders across the credit union to support the execution of various reporting projects in compliance with policy, governance, and regulatory requirements. Provide guidance to the credit union to integrate model risk into broader ERM programs.

vi. Develop and maintain effective partnerships with model owners, developers, external vendors, business-level risk management teams and auditors.

b) Risk Framework: Lead efforts to identify and transparently report on key risk and performance indicators through effective measuring, monitoring and development of controls to protect the interests of members, partners, and the credit union.

c) Credit Risk Policy: Partner with key stakeholders to implement strategies to identify, assess, and mitigate credit risk across various business units and to advise key business leaders on a broad range of credit related topics including, but not limited to, governance, credit process improvement, risk rating model design, credit regulatory assessments, and Current Expected Credit Losses (CECL) processes.

i. Provide advice in risk analysis, hedging strategies, and regulatory compliance.

ii. Evaluate and implement credit risk strategies to address market challenges

iii. Demonstrate an ability to balance short-term and long-term risk and blend with both the credit union’s risk appetite and strategic vision.

d) Model/capital planning: Ensure that the credit union’s capital is sufficient to meet its strategic goals, even under adverse conditions.

i. Develop and implement risk management strategies by partnering closely with key stakeholders, including finance, risk management, and business units.

ii. Identify potential risks related to capital planning, such as credit risk, market risk, operational risk, and liquidity risk, and assess the potential impact on the credit union.

iii. Develop and implement strategies to mitigate identified risks, often working collaboratively with other business units.

iv. Design and maintain a robust capital planning process that aligns with the credit union’s strategic goals.

v. Monitor capital adequacy against established tolerances and strategic goals and report on risk levels to senior management.

vi. Ensure that the capital planning process and risk management practices comply with relevant regulatory requirements.

e) Second Line Risk Testing: Partner with the first line to ensure appropriate risk control framework is in place by leading efforts to test and monitor first line controls, and ensure policies, procedures and processes are effective in managing risk and complying with regulations.

2) Serves as a key stakeholder of the credit union’s board level Enterprise Risk Committee by assisting SVP ERM with development of agenda, recommendations, presentations, and minutes.

3) Serves as a key Leader for WPCU Senior Management’s Enterprise Risk Management Team (ERMT) by assisting SVP ERM with development of agenda, recommendations, presentations, and minutes.

4) Helps lead the development of a risk culture within WPCU by communicating, supporting, training and enabling WPCU’s leaders, business units, partners on best practices for risk management throughout the organization.

5) Staying current on emerging risks, risk management trends and best practices.

6) Supervises the Second Line Testing, MRM, Credit Risk Policy, Capital Planning Risk Policy, and Risk Framework partners.

7) Ensure assigned business units are operating efficiently and reliably, are following applicable laws, regulations, and rules, have appropriate operating controls to mitigate risk, and are performing at a high level.

Required Skills

The Director, Risk Policy must possess a demonstrated knowledge of depository financial institution operating models and, risk management

programs and practices. The following are also required:

1) A bachelor’s degree in business, Finance, Accounting or related field is required (master’s degree preferred).

2) At least five years’ experience in a management position related to the primary objectives of the position.

3) Demonstrated ability to understand complex laws and regulations that govern financial institutions.

4) Familiarity and experience with leading Enterprise Level Risk, Business Resiliency, Vendor Management, and Corporate Insurance programs desired.

5) At least five years’ experience leading and managing subordinates is required.

6) Recognized professional certifications in the diverse area of Risk Management such as Certified Risk Manager, Certified Information Systems Security Professional (CISSP), Certified Risk and Information Systems Control (CRISC), Certified Information Systems Auditor (CISA), Credit Union Enterprise Risk Management Expert (CUERME), RIMS-Certified Risk Management Professional (RIMS-CRMP), Certified Public Accountant (CPA) are desired.

Required Experience