Enterprise Risk Management Director
Posted on Jun 14, 2019 by USAA
This is an opportunity for an Enterprise Risk professional to further advance ERM programs and develop high profile initiatives within an integrated financial company. In this role, you will have regular exposure and high visibility to the most senior levels of USAA leadership. Given the importance of the USAA Enterprise Risk Program, this role offers exciting opportunities for professional growth and contribution to strategic enterprise initiatives.
The Director of Risk Management is accountable for the development and mentoring of a high performing team in support of the enhancement and growth of the USAA risk management program. Influences processes at both the business unit and enterprise level and leads and sets the agenda for risk management deliverables. Responsible for partnering with the enterprise and business units to assess, quantify, aggregate, and mitigate exposures through the identification of key and emerging risks and evaluates alignment with risk strategy and appetite. Accountable for monitoring the risk and control environment and consults on risk mitigation plans to ensure that exposures are kept at acceptable levels. Leads cross-functional teams to achieve objectives across multiple business units or Centers of Excellence. Participates in and supports internal and external audits, regulatory reviews, and rating agency requests.
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In each of the past five years, we've been a top-40 Fortune 100 Best Companies to Work For®, and we've ranked among Victory Media's Top 10 Military Friendly® Employers for 13 years straight. We embrace a robust veteran workforce and encourage veterans and veteran spouses to apply.
ABOUT USAA RISK Management
USAA is a growing financial services company and the Risk Management function at USAA is an important part of this growth. It is an exciting time at USAA and in our Risk Management organization. We are a diversified team of Risk professionals, working across all lines of business across USAA operations (banking, insurance, investments) seeing the incredible growth first-hand. Working at USAA in Risk Management affords you the ability to be a part of USAA's noble mission on a daily basis. We stand behind our 11 million members who rely on us every day.
See what it's like to work for a company where your passion meets our purpose:
- Directs staff and initiatives that support risk management programs, to include governance support, risk oversight, risk infrastructure development, identification, quantification, and aggregation of key and emerging risks and/or operational risks and controls. Advises senior management and influences process change.
- Builds and manages a high performing team of risk professionals through recruitment, training, coaching, performance management and related managerial activities.
- Manages consulting relationships with internal and external clients in regard to budget and implementation deliverables and risk mitigation plans as appropriate.
- Partners with key stakeholders in the business and oversees the identification, assessment and documentation of risks and controls, including risks associated with new or modified products, services, distribution channels, regulations and/or third party operations.
- Directs the formulation of stress test plans for a line of business or the enterprise, evaluates results, and frames contingency plans in partnership with key business stakeholders.
- Directs the oversight of model risk through model documentation review, assessment of performance monitoring, model validation, and use implementation.
- Works with senior leadership to refine risk profiles, risk appetite, and key risk metrics. Directs teams in the development of risk dashboards and reporting formats in alignment with risk appetite/profile and leads teams in the identification, quantification and aggregation of risks using analytical methodologies.
- Reviews, communicates and recommends the development of risk policies and procedures in partnership with senior leaders to ensure appropriateness and adequacy versus industry best practices and regulatory requirements. Provides counsel to business unit managers on risk management issues and supports the evaluation of new product strategies on their impact to USAA's risk profile.
- Accountable for the development, implementation and oversight of risk management frameworks. Formulates risk management policies, procedures and standards in conjunction with senior management and risk management committees. Educates risk owners on risk management best practices and may work with other risk functions in the development and implementation of risk controls.
- Manages processes for collecting accurate and complete internal loss data from business areas. May direct analysis and data mining initiatives that identify, validate, and manage emerging risk exposures. Assists in the early identification of risk trends by establishing and monitoring key performance and risk indicators.
- Oversees the preparation of key reports and communications and may present to governance committees, senior leaders, regulatory bodies and the USAA Board of Directors.
- Performs all other tasks as needed.
- Bachelor's degree in Risk Management, Business, Finance or other related field or four years of directly related work experience (in lieu of a degree)
- 8 or more years' risk management experience or 8 years' operations experience in a relevant functional area to include banking, insurance, financial services, audit, public accounting or related area; Or advanced degree or designation in a quantitative discipline relevant to risk management and 4 or more years' relevant risk management work experience; Or PhD in a quantitative discipline and up to 2 years' relevant risk management work experience
- 3 or more years' direct team lead or management experience
- Experience designing overall ERM strategy to include the design of Risk Governance Framework, evaluation and reporting on the adherence to Heightened Standards, risk aggregation activities, reporting on the risk profile, and execution of various risk assessments as part of the annual coverage plan
- Experience in a similar function in a large financial institution
- Previous regulatory experience (OCC, FRB) with working knowledge of requirements
- Experience with execution and oversight of Risk Assessment activities, executing the development of the Risk Coverage plan across the lines of defense model and experience building and executing sustainable risk reporting to senior management committees and Board of Directors
The above description reflects the details considered necessary to describe the principal functions of the job and should not be construed as a detailed description of all the work requirements that may be performed in the job.
At USAA our employees enjoy one of the best benefits package in the business, including a flexible business casual or casual dress environment, comprehensive medical, dental and vision plans, along with wellness and wealth building programs. Additionally, our career path planning and continuing education will assist you with your professional goals.
Relocation assistance is available for this position.