Enterprise Risk Officer- Collections

Overview

This role supports the regulatory and operational risk management activities of the Credit Union’s Collections department by providing risk guidance (financial, vendor management, and regulatory compliance, etc.) related to the business unit’s activities. This role reports to the Collections Manager; and supports risk management through developing procedures with effective controls, monitoring and analysis of results, reporting important risk and control issues, and coordination with the Credit Union’s risk functions. This role also assists in the development of effective action plans and remediation strategies for identified risk related issues, participates in strategic enterprise-wide projects to drive proactive risk identification and mitigation, and supports the Credit Union’s overall enterprise-risk-management strategy.

Responsibilities

• Demonstrate expertise in regulatory and operational risk area(s) of Collections, by developing procedures and effective controls to manage the department’s compliance and other risk.
• Work with Collections department management to develop 1LOD quality control processes.
• Monitor 1LOD risk management activities performed within Collections and use results to elevate self-identified issues into Issues Management.
• Assist Collections in completing second-line required processes, such as third party risk management, complaint response and analysis, business continuity planning, risk assessments and issue management.
• Collaborate with other departments across the Credit Union, including Compliance, Legal, and Enterprise Risk Management, including identification and review of changing regulatory and operational risk requirements.
• Develop risk and control assessments that accurately reflect the level of regulatory, operational and other identified risk. Take a leadership role in developing RCSAs where needed for Collections department processes, products and functions to determine and reflect the residual level of risk.
• Promote a culture of identifying, documenting, and reporting weaknesses in processes or controls, perform root cause analysis and work with business unit management to develop and execute remediation strategies.
• Serve as the second point of escalation for complaints received related to Collections department activities.
• Engage in change management initiatives through appropriate level of research, analysis, and development of corporate and business level communications describing impact and necessary action by management.

• Act as a change agent for the promotion of a risk management culture.

Knowledge, Skills and Abilities

• Knowledge of the systems and functions surrounding Collections activities.
• Understanding of applicable regulations for Collections, such as FDCPA requirements.
• Willingness to engage with Collections subject matter experts to learn vital functions, as well as critical internal partnerships and external vendor relations to further understanding of Collections landscape.
• Maintain working knowledge of credit union policies and procedures regarding laws and regulations applicable to the business unit.
• Proven problem solver with ability to provide in-depth analysis of complex problems, manage risk and make independent decisions
• Ability to navigate across all organization levels with excellent project management skills.
• Proven ability to influence organizational processes as well as measure effectiveness and impact.
• Broad knowledge of banking/financial services principles and applicable regulatory controls.
• Ability to effectively facilitate and/or participate in process improvement projects, as projects dictate.

Qualifications

• Relevant professional banking certifications such as Certified Regulatory Compliance Manager (CRCM), Credit Union Compliance Expert (CUCE) or NAFCU Certified Compliance Officer (NCCO), Certified Enterprise Risk Professional (CERP), or Certified Internal Auditor (CIA) designation preferred. Alternatively, demonstrate ability to obtain credentialing within 12 months of taking the role (credit union will cover reasonable costs associated with preparation and testing).

• Demonstrated ability to independently manage multiple and complex work efforts, which involve directing other key stakeholders across the credit union.
• Understanding of financial institution general control structure, as well as, knowledge of operations of applicable business unit, to assess risk, provide effective challenge, and make appropriate recommendations.
• 8-10 years of banking/financial services retail-focused operational experience with high level of engagement with ERM and regulatory processes and tools or 3-5 years of experience in a financial institution compliance, ERM or audit program conducting risk assessments, performing remediation or executing process improvement functions

JobFamily

Collections

JobFunction

Collections

PayType

Salary