Director, Operational Risk and Corporate Compliance
Position Overview – The Director, Operational Risk and Corporate Compliance oversees Renovate America’s Corporate Compliance and Operational Risk Management department. They will plan and direct complex compliance and operational risk management initiatives within the organization. The Director plans, directs and supports product creation and implementation by performing the duties listed below, personally or through subordinate staff. This position works with all management levels across the organization and reports directly to the Chief Risk and Compliance Officer.
Key Responsibilities –
- Directs the creation, implementation, and oversight of business policies and industry standards, and identifies existing and emerging business practice issues and risks of the company.
- Coordinates with the legal team to propose solutions relating to current and new regulatory compliance requirements, guidelines and bulletins that impact the company’s products and overall business.
- Responsible for continuously reviewing industry-related compliance issues, proactively initiating timely changes when necessary, and managing clear communication and coordination with executive leadership to minimize compliance risks.
- Partners with executive leadership to develop the company’s compliance and risk strategy, and directs the activities of staff to support company objectives.
- Develops and implements goals, policies, priorities and procedures relating to corporate compliance, operational risk management, including business continuity and disaster recovery, information security, and internal training requirements.
- Participates in the development of the annual department budgets, supports the financial audits and compliance reporting needs.
Enterprise Risk Management
- Establishes and directs the Company’s risk management framework, including risk assessment methodology, risk tolerance levels, and risk reporting of internal business operations and third parties (i.e., third party contractors, vendors, customers, partners, etc.)
- Directs process change management activities related to legal or policy control improvements
- Defines, implements, and communicates key risk and key performance indicators (KRIs & KPIs)
- Directs the evaluation, onboarding, and ongoing performance of third party vendors.
- Maintains risk registers, conducts vendor audits, vendor inventories, and develops risk response & mitigation plans.
- Maintains company’s Vendor Management and Contractor Management policies and procedures; updates to reflect changes in regulatory environment or business need.
- Manages a team responsible for developing data and information from multiple sources to detect signs of risky or fraudulent behavior by partners; draws conclusions and makes recommendations to address accordingly.
- Directs the performance of initial and on-going due diligence of contractors, vendors and strategic business partners.
- Develops predictive risk analytics used in the assessment and ongoing management of third parties.
Monitoring and Testing
- Directs a team in evaluating the adequacy of internal controls and external programs through continuous monitoring and testing, identifies improvement opportunities, and develops and implements solutions to correct actions and prevent future issues.
- Establishes and manages processes of information flow of all compliance-related procedural changes and initiatives with Business Development, Product Management, Operations, Sales, Information Technology, Marketing, People and Culture, Legal, and Training.
- Directs and manages the end-to-end process of corporate compliance and operational risk management business initiatives, ensuring compliance with regulatory and industry standards.
- Oversees the development and implementation of new and enhanced policy requirements to support new lines of business and new market needs.
- Coordinates with Sales, Business Development and the Product Team to design compliant products that meet the needs of the company and our business partners.
- Participates as the compliance expert in developing creative solutions to product issues with the objective of maximizing opportunities for profitability and minimizing compliance risks.
Management and Leadership
- Builds and maintains a high performance, team-based culture through effective performance management, career development, communication and coaching of staff.
- Monitors the implementation of the overall compliance and risk management program, plans proper allocation and resource for staff, and reports accomplishments on ongoing basis.
- Manages all personnel activities of staff including, but not limited to, hiring, training, rewarding, motivating, disciplining, terminating, preparing and delivering performance reviews, and conducting compensation discussions.
- Oversees implementation and ongoing education of the company’s Code of Business Conduct and Ethics programs.
The duties and responsibilities described above are not a comprehensive list and additional tasks may be assigned from time to time. The scope of the job may change as necessitated by business demands.
- Bachelor's Degree and a minimum of five years’ financial services risk management experience or experience in related disciplines; or equivalent combination of education and experience.
- Well versed in Federal and State regulations related to unsecured consumer lending.
- Extensive knowledge of regulatory topics, risk assessment methodologies, and risk mitigation and measurement techniques against Board approved tolerances in an unsecured consumer lending environment.
- Experience with facilitating continuous risk management and process improvements, while working cooperatively with all levels of management.
- Track record of successful implementation and management of enterprise risk mitigation initiatives.
- Demonstrated ability to self-manage various projects, on-going, against specific performance expectations.
- Demonstrated ability to present and conduct formal presentations to senior management.
- Demonstrated ability to inform and educate personnel on the importance of risk management initiatives.
- Experience in designing and implementing risk management techniques in GRC systems.
- Ability to create detailed work flow diagrams that identify risks and controls.
- The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this position. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of this position.
- While performing the duties of this position, the employee is regularly required to remain in a stationary position and to frequently move around the office and other locations and sites to accomplish tasks and interact with co-workers, customers, and business affiliates. The employee will constantly operate a computer and other office machinery. In addition, the employee will be required to receive and exchange information through oral communication and must be able to convey instructions to others accurately, loudly, and quickly.
- While performing the duties of this job, the employee is required to work in an office environment, and the noise level is usually moderate to loud.