VP, Banking Market & Financial Risk
Cenlar is the nation’s leading mortgage loan subservicer. Our unique culture is defined by our core values of respect, trust, integrity and care. A promote-from-within philosophy, and opportunities for continuous professional growth make Cenlar a great place to launch or boost your career.
The VP, Bank Market & Financial Risk is a critical leadership role within Enterprise Risk Management responsible for providing risk management oversight and monitoring of the Bank’s market, financial risk, and investment and hedging activities undertaken for balance sheet growth initiatives. This position partners with the First Line of Defense in the Banking Team of Treasury/Finance/Capital Markets to ensure the company operates within the Board of Director’s approved risk limits. This role will implement and apply effect risk management practices to optimize risk reward for the portfolio and help facilitate and augment prudent growth. This position reports to the Chief Bank Risk Officer.
Will consider remote candidates in approved States only
Responsibilities:
- Drives the proper adherence to Cenlar’s Risk Appetite Statement and the Board guidelines
- Develops Second Line of Defense risk management framework, strategies and tactics for assessment, monitoring and escalation of market and financial risks (e.g. securitization, hedging etc.)
- Develops balance sheet growth and investment strategy working with the Banking Team of Treasury/Capital Markets that meets the objectives of Investment Policy to ensure safety and soundness, preservation, and management of capital, generation of income to supplement Cenlar’s earnings, and compliance with all applicable laws and banking regulations.
- Establishes processes to systemically monitor and evaluate permissible investments, and for exceptions and escalations
- Ensures proper investment selection analysis, including risk profile, income profile, risk-reward trade-off, and expected total return over time horizon
- Provides oversight and monitoring on the market and financial risks and reports the status of investments and related guidelines, limits, and targets to management
- Drives independent oversight of key functional risk areas (e.g. Treasury, Finance, Capital Markets etc.) from the viewpoint of market and/or financial risks including related analytics/modelling and oversight efforts
- Partners with the Chief Banking Risk Officer to manage yearly department budget, staffing levels and models; set department goals and develop strategies to meet or exceed these goals. Help drive operating leverage across risk functions
- Appropriately assess all market and financial risks when business decisions are made, including but not limited to compliance and operational risk. Demonstrate consideration for Cenlar’s reputation as well as our clients, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues, as well as effectively supervise the activity of others and create accountability with those who fail to maintain these standards
- Maintain effective communication regarding matters of risk management with external constituents, including Cenlar’s regulators.
Portfolio Management, Strategic Initiatives, Balance Sheet and Revenue Growth
- Drives optimal risk reward for the portfolio (e.g. new products etc.) helping in prudent balance sheet and revenue growth keeping all key market/financial risks in mind
- Participates in all key forums driving these initiatives and provides guidance to manage all key risks
- Assists with the development of required policy guardrails (e.g., Investment policy), as needed
- Partners with the Banking organization and Chief Bank Risk Officer in driving effective portfolio management and related portfolio analytics
- Monitors cash flows and liquidity, inclusive of ongoing capital stress testing
- Monitors portfolio investment activities, analyzing market trends and evaluating and providing credible challenge on selected investment instruments
- Evaluates investment risks and ensures appropriate diversification of investment strategies to preserve capital and achieve financial objectives
- Ensures compliance with banking regulations and internal policies related to financial transactions and accounts
- Provides financial insights and recommendations to the executive team, contributing to the development of long-term financial strategies and business decisions.
Model Risk Management – Market and/or Financial Risk Models
- Participates in building a best-in-class model risk management program for the bank in line with industry best practices and OCC guidelines (program/policy, performance assessment etc.)
- Ensures all market/financial risk models are validated and regularly tracked for effectiveness, reliability and robustness.
Risk Aggregation, Reporting and Governance
- Partners with the Chief Risk Officer and other risk management verticals to oversee risk aggregation, reporting, roles and responsibilities etc. in risk governance forums
- Partners with the Chief Risk Officer and other key ERM leadership to develop the strategic vision and roadmap for ongoing enhancements of Cenlar’s ERM framework
- Partners across lines of defense and across the bank to develop meaningful reporting to provide quantitative and qualitative results reflecting the state of performance and/or emerging risk(s), as appropriate
- Escalates all key issues to the Chief Risk Officer
Qualifications:
- Bachelor’s degree required in finance, economics, law, mathematics, statistics, physics, or related field; Master’s degree preferred
- 12+ years of leadership experience in market and/or financial risk management in mortgage banking – capital markets, trading, portfolio management, analytics, risk management, and leadership experience in a variety of economic cycles
- Experience required developing new products and working on balance sheet expansion initiatives from ground up
- Knowledge of banking relationships and covenants
- Outstanding technical and analytical skills
- Strong verbal and written communication skills
- Ability to present with impact and build consensus across senior stakeholder groups
- Ability to work in a fast-paced environment with a focus on delivery
- Strong knowledge of risk management concepts, frameworks, methods, and effective operating practices.
- Ability to apply the standard ERM framework to Cenlar’s business risks and understanding of and experience with operations
- Experience with industry regulators (i.e. OCC) and managing to expectations
- Strong understanding of regulatory processes, activities and requirements of a mortgage servicing or financial services company
- Ability to present to the Cenlar Board of Directors, Board Risk Committee, Executive Committee and regulators
- Ability to influence and drive cultural change.
- Lead, develop, and motivate a diverse and inclusive team
- Present complex topics and credible challenge to leadership in a persuasive manner
- Utilize strong problem-solving skills to develop mutually acceptable solutions
- Dedicated to integrity, producing high quality results, and meeting deadlines
- Unassailable ethics, personal values, and integrity
- Results and learning oriented; continuously striving to improve and evolve self, team, and others
- Ability to plan strategically as it relates to business unit responsibilities
- Proven ability to lead and motivate teams supporting complex businesses in a matrixed environment.
Total Rewards:
At Cenlar, you’ll receive an outstanding benefits package that includes paid medical, dental, and life insurance, 401(k), and tuition assistance as well as opportunities for training and professional advancement.
Cenlar is a drug-free workplace and an equal employment opportunity/affirmative action employer M/F/D/V/SO.
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