Chief Risk Officer
Effingham, IL, USA | Midland States Bancorp, Inc.
Industry:Banking / Investment Banking
Job Description:1 people have viewed this job
At Midland States Bank, we believe that when we can bring our whole selves to work each day, we become happier, more comfortable, more confident and more excited to do great things for our customers, each other and our company. We’re proud to be an Equal Opportunity and Affirmative Action employer. At Midland, we recruit, employ, train, compensate and promote without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status. If you are looking for a place to grow, we encourage you to apply at Midland States Bank, because you belong here.
Responsible for developing, implementing, and administering enterprise risk management encompassing strategic objectives, risk-based capital assessment, operations, reporting, and compliance with applicable laws and regulations. Serves as a key architect of the Company’s internal control framework, and ensures ongoing compliance with Sarbanes Oxley (SOX), FDICIA and other essential governance requirements. Responsible for the regulatory compliance management system. Serves as senior risk advisor during executive deliberations focusing on interest rate, investment, credit, liquidity, and related operational risks.
- Responsible for the development, implementation and maintenance of the enterprise risk management framework encompassing strategic objectives, policy development, risk-based capital assessment, products and processes, reporting and compliance with applicable laws and regulations.
- Advises executive management and business leaders with regard to risk management strategies across all risk types.
- Develops, implements, and administers enterprise risk management policies, procedures, and processes, which involves identification and assessment of business risks, and evaluating the effectiveness of risk mitigation strategies. Aligns Risk Management policies with internal and external stakeholder requirements.
- Serves as key liaison with Regulatory Authorities, acting as ambassador promoting a positive image of the Bank in all matters regarding risk and control.
- Provides material support during the evaluation of merger and acquisition and divestment opportunities. Structures and implements risk management processes for these activities.
- Advises executive management and applicable business leaders on asset & liability management, as well as governing internal controls.
- Introduces effective new product development and risk assessment programs where appropriate.
- Ensures that predictable, as well as low probability / high impact exposures are identified, assessed and managed; and encourages improvements in risk management performance.
- Provides support to the Board of Directors and President and Chief Executive Officer as required to ensure that risk-based capital assessment remains effective and contemporary in light of evolving business strategy and operations.
- Evaluates plans to introduce new products and supporting operations, contemplating all significant risks, potential benefits and encompassing plans for measuring, monitoring and controlling associated risks.
- Reviews and ensures the integrity of process and internal controls governing valuation and stress testing of credit and investment portfolios.
- Ensures effective reporting and compliance to safeguard against systemic violations of state and federal banking laws and regulations to avoid damage to Company’s reputation and shareholder value.
- Keeps management apprised of the status of risk mitigation efforts through reports to senior management, Board and/or Board committees as requested, and serves as chairperson of the Senior Risk Committee, and chief advisor to the Board’s Risk Policy & Compliance Committee.
- Develops, implements, and administers the Company’s internal control framework in compliance with SOX and FDICIA; reviews internal controls, develops controls documentation, review and testing requirements; works with management to develop and implement effective and efficient internal controls and risk mitigation; and provides reports to management and/or Board of Directors on status of SOX/FDICIA compliance.
- Directs the development, implementation and maintenance of the compliance management system for the Corporation and subsidiaries.
- Bachelor's degree in accounting, statistics, business, finance or related field.
- Five years of senior level experience specifically related to, or compatible with, the responsibilities assigned to the position.
- Prior Audit experience would be a plus. Pursues continuing education requirements as established in annual review and goals process.
- Professional Certification (CPA or CFA) preferred but not required.
- Business insight
- Cultivates innovation
- Drives results
- Makes sound decisions
- Being a brand champion
- Communicates effectively
- Customer focus
- Being Authentic
- Emotional Intelligence
- Self development
- Being flexible and adaptable
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