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#609742 - 09/06/06 06:29 PM Risk Manager Job Description
TeresaM Offline
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TeresaM
Joined: Jan 2006
Posts: 4
I am looking for a job description for a Risk Manager. Our examiners have recommended that we name someone as RM but have not given us any details on what it entails and how it would differ from a Compliance Officer.

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Human Resources
#609743 - 09/06/06 07:02 PM Re: Risk Manager Job Description
Cornfed Turtle Offline
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Joined: Mar 2006
Posts: 1,323
"...Somewhere in Middle Americ...
I'll see if I can find ours somewhere and send to you, but the basic gist is:

Oversees the compliance area (CO is a report)
Oversees the Loan Review/Credit Quality area
Serves as the Security Officer
Primary contact for Whistle Blower Program
Serves on Disaster Recovery/Biz Cont (and wrote program w/IT guy)
Oversees ALLL
Signs off on charge-offs
Handles legal service on bank
Day-to-Day supervision of internal audit dept
Contact for exams/external audits
Runs FDICIA program
SOX committee chair
W/IT guy, responsible for GLBA
Answers to Audit committee chair

ooo.....and other duties as assigned!

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#609744 - 09/06/06 07:07 PM Re: Risk Manager Job Description
TeresaM Offline
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TeresaM
Joined: Jan 2006
Posts: 4
That would be great.

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#979965 - 06/23/08 04:06 PM Re: Risk Manager Job Description TeresaM
Mrs. Rizzo Offline
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Mrs. Rizzo
Joined: Mar 2006
Posts: 10,392
Curled up by the fire...
Would anyone be willing to share their job description with me? Thanks in advance for your help!
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#1083469 - 11/18/08 06:00 PM Re: Risk Manager Job Description Mrs. Rizzo
Mrs. Rizzo Offline
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Curled up by the fire...
Bump
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#1083738 - 11/18/08 10:15 PM Re: Risk Manager Job Description Mrs. Rizzo
beegee Offline
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Joined: Feb 2004
Posts: 1,110
South
JOB DESCRIPTION



Job Title: Chief Risk Officer

Department: Risk Management

Reports to: Board Audit Committee – functionally
President - operationally



SUMMARY

Oversees all aspects of the bank’s risk management function.

The position of Chief Risk Officer is responsible for ensuring the Bank maintains adequate credit, compliance, and operational risk procedures, thus ensuring the Bank is in full compliance with all banking laws, regulations, and internal policies and procedures. Serves as an advisor to Senior Management in areas of risk. The Chief Risk Officer leads and oversees the Loan Review, Compliance, and Internal Audit Departments.



DESIRABLE EDUCATION/EXPERIENCE/SKILLS

· Eight to ten years banking experience with a thorough knowledge of the laws and regulations from regulatory agencies.
· Bachelor’s degree in Business, Accounting, or Finance or related experience. MBA or CPA preferred.
· Excellent communication skills and attitude necessary to establish and maintain positive working relationships with all management and personnel.
· Ability to communicate effectively through presentations and individual discussions with managers and employees.
· Strong organizational skills needed to handle the coordination of multiple priorities.
· Independent judgment with strong analytical and risk assessment skills.
· A wide degree of creativity and latitude.

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#1982148 - 12/10/14 04:56 PM Re: Risk Manager Job Description TeresaM
rlane Offline
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Joined: Oct 2014
Posts: 15
OK
I realize this was posted many years ago. I have recently been named Risk Manager to replace the outsourced internal audit company, and am now being asked to write my own job description for the OCC, with the help of HR.

I am essentially the Internal Bank Auditor. I report to the Audit Committee functionally and to the President operationally.

They do not want to call me "Internal Auditor" because I am not a certified auditor yet.

Should I accept that? I do provide advice to Senior and VP Officers in areas of risk. However, I am not an Officer at the moment. Should I accept that too?

I have a Bachelor's degree in a leg of Business. I have 3 years experience in banking (Mostly Operations).

Should experience be the sole deciding factor in being named an Officer?

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#1982268 - 12/10/14 07:45 PM Re: Risk Manager Job Description TeresaM
RockChucker, CAMS Offline
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Joined: Jul 2013
Posts: 1,700
The Country
In regards to deciding factors in being named an Officer I believe that is entirely up to the bank you work for. If you feel you have the experience and know how and the need for the position is strong you might be able to negotiate the title of officer as a part of accepting the new roles and responsibilities.
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#1982314 - 12/10/14 09:03 PM Re: Risk Manager Job Description TeresaM
RR Jen Offline
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RR Jen
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Running and riding everywhere ...
In my mind the role of an internal auditor and risk manager are very different. I think the OCC views them differently as well. If they want you to be an internal auditor, have them give you that title and send you to school to become certified. The ICBA has a great one. The IIA's CIA exam is also a good choice, just not banking specific.

I'd want to know EXACTLY what Im in charge of and get it in writing ASAP. My title is technically Risk Management Officer...here's the bulk of the job description:

The Risk Management Officer (RMO) is accountable for enabling efficient and effective governance of significant risks and related opportunities to (the Bank). The RMO is a member of the senior management team and works with leaders within the Bank to identify risk issues and develop appropriate responses. This position is expected to establish effective working relationships with all levels of bank personnel.

A priority for the RMO is to ensure an ongoing program to mitigate compliance risk is in place. It is the desire and intent of the Bank to comply with all applicable laws, rules and regulations and to adhere to appropriate standards of ethical behavior. The RMO will supervise the Bank’s Compliance Officer who coordinates the overall Compliance Management program for the Bank as described in the Compliance Policy. The RMO will supervise the Bank’s BSA/Security Officer who coordinates the overall BSA/AML and Security Management program for the Bank as described in the BSA Policy.

The RMO is responsible for planning, organizing, directing and controlling the audit function for the Bank. This process may be conducted in conjunction with a CPA firm or Bank staff. As described in the Internal Audit Policy, the prime objective of the audit department is to examine and evaluate whether the Bank’s framework of risk management, control, and governance processes is adequate and functioning properly. The RMO will facilitate the engagement of the CPA firm performing the annual external audit.

Additional risk Management duties for the RMO include working closely with Bank management to coordinate the Banks risk assessment of all new and or expanded products and services as required by the OCC. The RMO also coordinates the banks Vendor Review process, working closely with Bank Management for the Annual Third Party Vendor review as well as performing a risk assessment on all new vendors.
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#1982323 - 12/10/14 09:24 PM Re: Risk Manager Job Description TeresaM
RR Jen Offline
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RR Jen
Joined: May 2003
Posts: 3,760
Running and riding everywhere ...
It might be helpful to add the "responsibility of the internal auditor so you can compare.

The chief internal auditor and the staff of the internal audit department have the responsibility to:

• Formulate the annual audit plan in consultation with the Audit Committee and management.

• Implement the annual audit plan including, as appropriate, any special tasks or projects requested by the Audit Committee or the President.

• Maintain requisite, professional audit staff strength with sufficient knowledge, skills, experience, and professional qualifications to meet the requirements of this Policy.

• Issue periodic reports on a timely basis to the Audit Committee and President, summarizing results of audit activities.

• Keep the Audit Committee informed of emerging trends and developments in internal auditing practices and give recommendations for necessary revisions in the Internal Audit Policy and audit procedures.

• Assist in the investigation of significant suspected fraudulent activities and notify the Audit Committee and President of the results.

• Ensure that the department complies with sound internal auditing principles and best practices.

• Seek guidance from the standards issued by the Institute of Internal Auditors.

• Exercise due professional care in carrying out audit assignments.

• Maintain integrity and objectivity.

The internal audit process, however, does not relieve departmental heads/managers of their responsibility for the maintenance and improvement of controls in their respective areas.
_________________________
I don't need any more negativity in my life...be positive and helpful people or I will kick you in the shins!!!

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