RISK MANAGEMENT MANAGER

POSITION DESCRIPTION:

RISK MANAGEMENT MANAGER

Department: RISK MANAGEMENT

Classification: Exempt

Reports to: Vice President of Member Support

About Us! Carolinas Telco Federal Credit Union is a member-focused financial institution dedicated to providing exceptional service and financial solutions to our community. At the core of our mission lies a steadfast commitment to providing personalized service and a comprehensive suite of financial products. This includes a variety of solutions for individuals and businesses, backed by an innovative online banking platform, ensuring members have the tools they need for financial success.

Job Summary: The Risk Management Manager will oversee the identification, assessment, and mitigation of risks within the credit union. This role involves developing and implementing risk management strategies, policies, and procedures to protect the credit union's assets and ensure regulatory compliance.

Key Responsibilities:

• Develop and implement comprehensive risk management policies and procedures tailored to the credit union's operations.
• Identify and assess potential risks, including credit, operational, market, and compliance risks.
• Conduct regular risk assessments and audits to evaluate existing controls' effectiveness and identify improvement areas.
• Collaborate with various departments to develop and implement risk mitigation plans.
• Provide exceptional leadership, training, coaching, and mentorship to staff on risk management practices and regulatory requirements.
• Stay updated on industry trends, regulatory changes, and best practices in risk management.
• Prepare and present detailed risk reports and analyses to senior management and the board of directors monthly/quarterly or as needed.
• Completes special projects as assigned
• Complies with all federal, state, and organizational policies, procedures, and processes, including, but not limited to, the Bank Secrecy Act (BSA) and Office of Foreign Assets Control (OFAC).

Qualifications:

• Associate or Bachelor’s degree in Finance, Business Administration, or a related field. Equivalent work experience will be considered as a substitution.
• Minimum of 8 years of experience in risk management, and 10 years of management experience preferably within the financial services or credit union industry.
• Exceptional and proven leadership skills.
• Proficiency and thorough knowledge of collections, bankruptcy/repossession and foreclosure procedures, risk management software and tools.
• Strong analytical and problem-solving skills.
• Excellent communication and interpersonal skills.
• Successful ability to manage remote teams.

Performance Metrics:

• Delinquency Rate: Maintain a delinquency rate in alignment with the credit union’s established targets.
• Recovery Rate: Achieve a successful recovery rate on delinquent and charge-off accounts as deemed by CTFCU.
• Resolution Time: Ensure delinquent accounts are addressed and or resolved within the specified guidelines
• Member Satisfaction: Maintain a member satisfaction score of 90% within credit union interactions.
• Compliance: Achieve a successful compliance rate with all relevant regulations and internal policies.
• Team Performance: Ensure staff meet or exceed their individual performance targets.
• Core Values: Exhibits ongoing commitment and display of the credit unions core values.

DISCLAIMER AND ACKNOWLEDGEMENT

Position descriptions possess the essential functions and basic duties of the role. Peripheral tasks may have been excluded. Requirements, skills, and abilities included have been determined to be the minimal standards required to successfully perform the positions. In no instance, however, should the duties, responsibilities, and requirements contained above be interpreted as all inclusive. Additional functions and requirements may be assigned by supervisors as deemed appropriate.

In accordance with the Americans with Disabilities Act, it is possible that requirements may be modified to reasonably accommodate disabled individuals. Position descriptions are not intended as and do not create employment contracts. The organization maintains its status as an at-will employer. Employees can be terminated for any reason not prohibited by law.

I have received a copy of the above position description and understand the role’s expectations for performance. I understand that should I have questions or need additional directions, it is my responsibility to seek clarification and/or assistance from my direct supervisor.

Employee Signature: __________________________________________ Date: _________________

Supervisor Signature: __________________________________________ (Witness)