Hypothetico is a new, cutting edge, software driven financial company that has applied to form a national bank. The purpose of our enterprise is to serve and enable the rapidly-expanding fintech industry as well as corporate clientele who need banking rails but cannot or do not want to become a bank themselves. Because we intend to operate a different kind of bank, we view risk management as a strategic function with its own business needs, product and platform demands, and roadmap. We seek to build an organization in which every employee, every product, and every system works in a risk-managed-by-design environment. Our goal is to foster a culture that views risk management as an empowering force for innovation, improvement, speed, and performance. In our view, a modern risk management function—when run properly—should provide us with a significant competitive advantage without sacrificing safety or soundness.
We are currently looking to add a Chief Risk Officer (CRO) to our team. The CRO is a key member of the Executive Management team reporting directly to the CEO and the Board of Directors Risk Committee. The CRO will be the strategic risk leader for the company. The successful candidate for the CRO role will be able to provide timely and effective challenge to senior management and business units on all key assumptions and business strategies to ensure that risk considerations have been appropriately evaluated. Their organization will solely act as oversight and will not be expected to maintain business-as-usual service operations which might interfere with the impartiality and objectivity of the risk organization.
The firm is in the process of forming a de novo entity. Thus, the CRO's immediate focus will center on the design, formation, and implementation of a risk management regime appropriate to the lines of business we intend to enter. It will need to be consistent with the prevailing regulatory climate and built to scale to growing volume while increasing our overall quality of decision making and safety. Our ideal candidate would be described as a pragmatic visionary. Someone who sees this role as an opportunity to expand what is possible in the field of financial services and risk management. While still addressing the firm's immediate concerns, the regulatory, and the safety and continuity of our clients.
Primary responsibilities include leading the monitoring and reporting of the Key Risk Indicators (KRI) and related mitigation actions to the Board of Directors' Risk Committee. This role is directly responsible for policy and procedure administration and strategic leadership of the company's risk posture and exposure.
Develop and establish a comprehensive and integrated risk framework and risk appetite statement for the company consistent with banking regulatory requirements.
Set the appropriate loss parameters to align with the company’s risk appetite, monitor the risk parameters, and ensure the firm has sufficient capital to absorb risks.
Conduct annual enterprise risk assessment and participate in the review of operational risk assessments.
Contribute to the establishment of business line risk appetite statements in alignment with the Company Risk Appetite Statement and application of and adherence to the operational risk framework, policies, processes, measures and limits.
Develop routine reports on business unit compliance as required and present to management and the Enterprise Risk Management Committee.
Collaborate with the technology organization and counterparts in other organizations to design, develop, and implement systematized and automated approaches to risks of financial, operational, technological, and other natures, including decision support systems, knowledge management, document management and workflow, planning and portfolio assessment, simulation and projection, predictive analysis, and surveillance.
Provide direct reporting supervision to the Chief Information Security Officer, Head of Data Governance, Head of ERM, and Head of Policies and Procedures.
Identify and enact a formal engagement approach that ensures that the risk organization is capable of providing an effective challenge to both senior management and the business units.
Collaborate with the Bank Holding Company executive group alongside the President of Formative Bank, President of the Software Co, General Counsel, Chief Compliance Officer, Chief Financial Officer, Head of Project Management Office, and Head of Human Resources.
Provide the Board of Directors and management consultation on people, processes and systems relating to governance programs, risks and internal controls.
Oversee continuous, ongoing review of policies and ensure that employees successfully implement changes along prescribed timelines.
Oversee independent review programs relating to the loan and investment portfolio in coordination with the Chief Financial Officer, President of Formative, Chief Banking Officer, and CFO (or delegated Treasurer).
Remain current with industry topics including elements relating to accounting, auditing, compliance, cyber, regulations, operations, best practices, and emerging risks.
Participate in special projects (new products/services, acquisitions, new/updated systems, etc.); provide consultation specific to projects relating to risks, processes, and controls.
Lead the professional development, coaching, and monitoring of team members and actively support the mission, vision, and values of the Company.
Other duties as assigned.
Bachelor’s degree, preferably in business, finance, or accounting, required.
Minimum of fifteen years of experience working in the audit, risk or compliance field. A combination of experience within these sectors will also be considered.
Familiarity and experience with fintech and the technology banking industry.
Knowledge of bank regulatory requirements/expectations.
Demonstrated experience with risk management methodologies/disciplines and the COSO framework.
Highly motivated, self-driven individual who can think strategically, operate independently, and take accountability for all functions of risk management strategy.
Ability to develop, implement, and administer programs designed to meet Board and regulatory expectations.
Effective communication skills, including public speaking/presentations and business writing.
Steadfast integrity, confidentiality, and personal impact.
Highly effective interpersonal skills, including the ability to interact and collaborate with diverse teams and individuals; motivate and influence others, both internally and externally.
Must have the ability to multi-task in a fast-paced environment and focus on priority projects and activities, including personal record keeping and active use of internal productivity systems.
A creative, analytical thinker who is both grounded in existing best practices in their field and motivated by the opportunity to create and attempt new approaches and to be an advocate for advancement of risk management in the industry.
Advanced degree and/or professional certifications in audit, risk and/or compliance.
Leadership experience as a CRO in a bank or financial services organization.
Takes an evidence-driven approach and prefers to argue on the basis of facts and likelihoods.
Broad and deep understanding of fintech and the technology banking industry and the related components and processes for applicable risk, governance and control.
Knowledgeable about the vendors who offer, and experienced in the selection and integration of, tools appropriate to the role, especially MIS reporting tools, case management systems, document generation and management systems, entitlement controls, and other technologies typical of a modern, well-run operation.
Prior startup experience, ideally early in the formation and development of the company.
Skilled at coordinating an organizational response to growth management that protects the firm and its clientele while motivating and engaging the workforce.
Comfortable and capable working in a post-COVID, work-from-home workplace.
Actively engaged in their community with strong ties and commitments to the advancement and improvement of the social good.
Someone who believes they have something unique they can bring to this role that credibly increases the competitive advantage of the firm.
Hypthetico is an equal opportunity employer that is committed to diversity and inclusion in the workplace. We encourage all qualified applicants to apply to this or any of our open positions, and prohibit discrimination and harassment of any kind based on age, race, color, sex, religion, sexual orientation, national origin, disability, genetic information, pregnancy, or any other protected characteristic as outlined by federal, state, or local laws.
Hypothetico is a new, cutting edge, software driven financial company that has applied to form a national bank. The purpose of our enterprise is to serve and enable the rapidly-expanding fintech industry as well as corporate clientele who need banking rails but cannot or do not want to become a bank themselves.
BACK TO TOP
RMA Career Center is Just One of the Benefits.
Discover what else RMA has to offer!
The job you are trying to reach from was originally posted at RMA Career Center.