ERM Risk Consultant, Financial Risk Management

Venture Bank is seeking an ERM Risk Consultant for its Financial Risk Management Program in Minneapolis, MN. The role involves supporting governance and oversight of financial risks, including model risk and stress testing. Responsibilities include maintaining risk frameworks, coordinating validations, providing stakeholder education, and developing risk metrics. Candidates should have 2-4 years of experience in risk management or related fields, with strong knowledge of risk principles and regulatory requirements.
The Enterprise Risk Management (ERM) Risk Consultant will contribute to the processes of the Financial Risk Management (FRM) Program within the second line of defense in coordination with the FRM Program Manager, Director of ERM Operations, and the Chief Risk Officer. The FRM Program provides a framework within the second line of defense to provide guidance, oversight, and credible challenge on key financial risks managed by the first line of defense including credit, liquidity, market, capital, and model risk.

The ERM Risk Consultant will be responsible for sustaining and evolving the FRM Program function, which includes governance and oversight activities on model risk, stress testing, concentration monitoring, and credit reviews. Under the FRM Program, the individual will contribute to the development, implementation, and enhancement of risk frameworks and processes at a level commensurate with Choice Bank’s risk profile and risk appetite. This individual will be expected to work closely with first line of defense to ensure requirements are met, address any gaps, and continually enhance the maturity of the Bank’s Risk Management Program.

Responsibilities
• Supports and maintains the FRM Program and various risk frameworks that support the Program, including Model Risk Management, Stress Testing Governance, Concentration Monitoring, and Loan Review.
• Coordinates performance of validations and reviews on models, credits, and stress tests in a risk-based approach aligned to the Bank’s review and validation schedule.
• Provides education and support to stakeholders during the lifecycle of a model to ensure model risk activities performed align to standards and risk frameworks.
• Reviews and credibly challenges monitoring processes and performance metrics associated with the processes of the FRM Program.
• Maintains an up-to-date inventory of all models and other key financial risk activities, such as stress testing and concentrations.
• Provides recommendations for improvements to financial risk activities, evaluating gaps in assessment coverage.
• Develops metrics and mechanisms for monitoring, evaluating effectiveness, identifying deficiencies, and managing the Bank’s FRM Program.
• Develops effective communication strategies to disseminate risk reporting, risk framework, risk activities, and risk mitigation statuses throughout the Bank.
• Collaborates with stakeholders to implement risk mitigation plans effectively and monitoring and reporting on the progress of risk mitigation efforts.
• Coordinates and facilitates risks and FRM Program updates to senior management and the Board, as needed.
• Seeks feedback from stakeholders to identify opportunities for improvement to the FRM Program and risk activities managed in this position.
• Assists or manages other risk programs, as assigned.

Qualifications
• Minimum of 2 to 4 years of relevant experience in risk management or related areas (e.g., Finance, Governance, Compliance), including process validations, reviews, and developments associated with financial industry legal, regulatory, risk and compliance obligations.
• 2+ years of experience reviewing or developing models, stress testing or other risk analysis type activities.
• Strong knowledge of risk management principles, risk reporting, risk frameworks, and regulatory requirements.
• Experience supporting and managing risk programs, policies, processes, and controls associated with financial industry legal, regulatory, risk, and compliance obligations.
• Experience with reviewing systems, software’s, or models to identify gaps or weaknesses that need to be addressed.
• Experience with developing and leveraging key risk indicators (KRIs), and assessments to identify, assess, monitor, and mitigate risks to ensure alignment with the Bank’s risk appetite.

Cultural Alignment

Choice is #PeopleFirst, banking second.

People don’t need just another bank. People need to be supported by a team of trusted partners who will get to know them and their business, understand their challenges, discover their dreams, and recognize the success in bringing people and banking together in our communities.

In contributing to our culture, Choice team members are guided by our core values.
• Embrace change and encourage innovation.
• Know when to ask for help and know when to offer help.
• Better the places we live.
• Work hard. Do the right thing. Have a little fun.

Our vision of Diversity at Choice is supported by our #PeopleFirst mission and our core values.

Being #PeopleFirst means that Choice is committed to focusing attention and resources towards creating an environment where everyone feels respected and valued and can do their best work. Doing the right thing means encouraging employees to share their experiences and ideas, and to bring their whole authentic selves to work. Together, we can build an inclusive culture that seeks out, supports, and celebrates diverse voices. We can use our diversity to fuel creativity and innovation and bring us closer to our customers and the communities we serve. Be welcome at Choice. We can see you here.