Chief Risk Officer Job at Confidential, Schaumburg, IL

  • Confidential
  • Schaumburg, IL

Job Description

The client is seeking a Chief Risk Officer responsible for strategic planning and enterprise-wide oversight of risk management. This role directs and administers risk management activities aligned with the goals and objectives established by senior leadership and the Board, and serves as the primary liaison between management and the Board’s committee. The Chief Risk Officer will establish and maintain an enterprise Risk Appetite Framework, risk assessment system, and risk management methodologies to manage and monitor risk exposure arising from banking and financial services activities. Key responsibilities include ensuring that credit, interest rate, liquidity, price, operational, compliance, strategic, and reputation risks are identified, measured, monitored, and controlled across the bank and its business units. The role integrates risk management with strategic goal setting and business planning, reviews independent third-party risk and compliance materials (including external loan review, compliance, regulatory examination, and stress test results), and establishes an early warning or trigger system for breaches of risk appetite or limits. The Chief Risk Officer also ensures policies and procedures meet legal, regulatory, or contractual requirements, and provides clear directions and oversight on strategic goals by translating them into business and performance measures. In addition, the Chief Risk Officer will contribute to business unit strategy by assessing current conditions and anticipated external changes, and will manage comprehensive processes to assess, identify, monitor, and reduce business risks while minimizing duplication and maximizing efficiency. The role develops and implements plans for risk management system and process infrastructure and associated personnel as the organization grows, directs staff execution of risk-based plans for internal reviews and related oversight activities, and consults with management on emerging issues through timely communication. The position will support participation in Board, audit, regulatory, management, and other meetings as required, and the ideal candidate typically holds a bachelor’s degree in business, accounting, finance, or related experience, with a master’s degree preferred.

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