Chief Risk Officer

Chief Risk Officer

Job Purpose

Reporting to the Chief Executive Officer (CEO), the Chief Risk Officer (CRO) is responsible for enabling the efficient and effective governance of DUCA's strategic, reputational, operational, financial, and compliance related risks. The CRO is responsible for DUCA’s Enterprise Risk Management (ERM) framework and is accountable to the CEO and the Board for enabling the business to balance risk and reward.

Given that credit risk represents DUCA’s most significant risk, the Commercial and Retail Credit teams also report to this role. The initial work effort for this role will be focused on credit risk management including adjudicating transactions, working closely with lenders/underwriters and the credit team, implementing credit risk management framework improvements, and developing and improving policies and procedures.

Job Summary & Key Duties

Key Accountabilities

• As a member of the Executive Leadership Team, participate in helping to set the strategic direction for DUCA and provide recommendations on directing capital to projects based on risk.
• Set the vision and strategy for the enterprise risk function, working in conjunction with the Executive Leadership Team and the Board’s Risk Committee.  
• Manage the process for developing risk policies and procedures, risk limits, and approval authorities.
• Manage the development and implementation of all aspects of the risk function, including processes, tools, and systems to identify, assess, measure, manage, monitor, and report risks.
• Ensure an organization-wide view, understanding and ownership of the combined risks of the business and their inter-relationships (interest rate risk, liquidity risk, operating risk, credit risk, reputational risk, regulatory risk) and embed a positive culture of confident and informed risk-taking through training, communication, and promotion of the agreed risk framework.
• Manage the corporate risk and control assessment reporting process, as well as, manage and maintain infrastructure elements (e.g. management reporting, including reporting to senior management).
• Work with business leaders to develop plans to mitigate risks and monitor the progress of risk mitigation activities and manage the process for elevating control risks to more senior levels when appropriate.

Credit Function Accountabilities

• Lead the credit adjudication, administration, and collection teams in the day-to-day operations of all credit related functions. Lead the team in a manner that results in high levels of employee engagement and commitment. Develop key performance indicators and performance improvement goals for the function and use these metrics to drive improved performance and achieved target objectives. 
• Develop collaborative and interdependent working relationships with the Commercial Lending, Corporate Finance, and Retail Sales teams, Treasury, Risk Management, and Audit for the purposes of:
1. Enabling the articulated DUCA Member Experience as it relates to lending products and processes.
2. Developing and managing to Service Level Agreements to deliver the desired Member Experience.
3. Recommending new and enhanced lending products in order to meet the changing needs of the Member base and marketplace.
4. Providing support to front line sales teams to optimize lending product sales and fee features to generate revenue, and increase margins and market share for the organization.
• Present and report on credit activities monthly to the Board Credit Committee, including watch-list reporting.
• Address, support, and facilitate all governance matters relating to credit adjudication, ensuring credit risk compliance and audit requirements are properly recorded and the appropriate action plans developed and implemented as required.
• Ensure the development and implementation of various policies and procedures for the improvement of credit operations and to ensure DUCA meets OSFI regulations and expectations relating to credit.
• Communicate effectively with regulators to answer all questions and address any issues.

Occupational Experience & Education Requirements

• MBA preferred
• 15 years business-related experience in financial services
• Extensive credit risk experience, with a deep understanding of the core risk determinants, analyzing and assessing commercial clients in the financial services sector   
• Proven strong financial analysis and loan underwriting skills
• Strong knowledge of corporate finance and real estate financing experience in a financial institution, specifically in a leadership role as a comprehensive retail and commercial credit/lending manager
• Experience in risk management of alternative financing options (ie. ALT B, mezzanine, leasing, etc.)
• Experience in credit risk analytics used in consumer lending

Knowledge, Skills & Attributes

• A respected authority able to represent DUCA in front of regulators, legislators, and other key constituents and partner effectively with third parties, regulatory bodies and others, as appropriate
• Proven ability to oversee a number of risk types including credit, market, operational, investment, regulatory, strategic, and liquidity risk
• Knowledge and experience of best practice risk management and governance frameworks, methodologies, and emerging practice in relation to financial services
• Extensive understanding of business and financial fundamentals, with mathematical aptitude and advanced accounting and MS Excel skills
• Strong leadership and people management skills – an authentic leader who puts service to the organization and the Member over their own self-interest
• Critical thinking, problem-solving, and decision-making skills, with the ability to analyze complex information to identify the key issue/action and drive resolution
• Demonstrated “out-of-the box” and innovative thinking
• Ability to collaborate with peers, direct reports and other employees
• Excellent communication skills, both written and verbal, and presentation skills
• Influencing skills

DUCA welcomes and encourages applications from people with disabilities. Accommodations will be made upon request for all aspects of the hiring and selection process.

Qualified applicants are encouraged to submit both their resume and coverletter. We thank all applicants but only those considered for an interview will be contacted.