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Chief Risk Officer

New York City, NY, USA | Bank of America Merrill Lynch

  • Industry:
    Financial Services
  • Position Type:
  • Functions:
    General Management
    Risk Management
  • Experience:
    5-7 years
Job Description:
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•Strategic focus includes, but is not limited to:

•Working closely with Risk, Technology, and Lines of Business to understand the places where Artificial Intelligence (“AI”) is being used and to have a holistic view of the risks this poses to the firm across all risk types including: operational, strategic, compliance, and reputational. 

•Judging bias in machine learning (“ML”) models; explainability of ML models; implementation of ML techniques; testing and verification of ML models; and failure modes of ML models.

•Historical, current, and emerging trends in AI and ML. 

•Challenging GT&O Technology functions to manage risk well in support of responsible growth and operational excellence goals

•Partner and support function to mitigate risk (i.e. strategic business planning, new products, client selection, etc.)

•Aggregate and escalate risk in accordance with established criteria in partnership with risk horizontals

•Conduct benchmarking, post-mortem, and thematic analysis on current and emerging risks; ensure the right monitoring and testing are in place

•Oversee, challenge and approve risk appetite tolerance metrics, triggers and limits; ensure that action is taken when metrics exceed risk profile/tolerance levels in partnership with risk horizontals

•Ensure the effectiveness of risk governance routines; participate in an advisory capacity providing independent challenges. Act as primary regulatory and Board committee Risk representative providing a holistic view of risks for the function

•Provide appropriate challenge during the planning, execution and post workshop assessment of scenario building and modeling

•Utilize technology and quantitative tools to enhance senior level decision making 

Essential candidate characteristics:

•Mature executive presence in a high visibility role, credible with CEO 1 & 2 deep executives

•Exec ready communication and presentation skills

•Ability to effectively influence, challenge and negotiate actions and outcomes across a large matrixed organisation

•Exemplary stakeholder and relationship management skills

•Intellectually curious and naturally strategic in approach

•Works effectively as a sole contributor, leading and directing by influence

•Strong technical expertise 

Required Skills & Experience

•Advanced degree in a technical field that either relates to AI or makes extensive use of AI. 

•Strong background in data analysis with statistical grounding is expected. 

•Extensive experience in building and understanding Machine Learning based systems.

•Broad familiarity with the literature in the field and knowledge of up to date AI techniques

•Strong financial services and risk management experience

•Leadership experience in either Technology Infrastructure, Information Security, Data or Architecture & Strategy 

•Consulting background – to cope with the enterprise breadth of this role

•Will have large scale, multi-year strategic planning experience

•Will be focused on future state of technology, what will IT landscape look like in 5 years

•Deep technology background

•Focus on next generation of technology infrastructure

•Robust future state view on security and data strategy

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