SVP – Head of Client Risk

Who We Are

Cross River is a highly profitable, fast-growing financial technology company powering the future of financial services. Our comprehensive suite of innovative and scalable embedded payments, cards, and lending products deliver financial services for millions of businesses and consumers around the globe. Cross River is backed by leading investors and serves the world’s most essential fintech and technology companies. Together with its partners, Cross River is reshaping global finance and financial inclusion. 

We are on a mission to build the infrastructure that propels access, inclusion, and the democratization of financial services. While our company has tripled in size over the last three years, our strong sense of purpose led Cross River to be named to American Banker’s list of Best Places to Work in Fintech for the last 6 years. The reason for this success is simple – our nimble and collaborative family culture lives in every member of our growing team. Together we are at the forefront of technology and innovation, and we invite passionate, collaborative, and motivated high performers to join our expanding team.

What We're Looking For

We are seeking an SVP, Head of Client Risk to grow our risk management strategy across all risk pillars while maintaining client experience and regulatory compliance. The ideal candidate will balance risk/return within the bank's risk appetite framework, possess banking and Fintech expertise, and demonstrate leadership presence with strong communication skills to foster Cross River's customer-first approach.

Responsibilities: 

• Own and establish line of business risk management strategy and oversee the execution of the risk management programs. Serve as an advocate for the risk management program while bringing clients to market with superior CX and compliant soundness
• Manage and own all risk pillars in the front line in concert with business unit owners across all risk pillars including AML/CFT/Fraud, Compliance, Operations, and Credit while working within the risk appetite guidelines of the bank
• Develop and own standard operating procedures for the Line 1 teams in risk execution requirements including due diligence and periodic risk review (working in concert with our business unit colleagues)
• Ensure risk management strategies and programs are established, maintained and enhanced to support the businesses in managing their risks while meeting business and regulatory expectations
• In concert with Line 2, develop risk appetite for the bank and operate within board and 2^nd line delegated Line 1 risk authority
• Oversee the timely and proper execution of the risk management program within and/or across the lines of business, including consultation to execute the program components and direct client relationship risk oversight and ownership
• Provide risk expertise while working with the businesses and other risk partners (e.g., Compliance, Credit, Legal, Audit). Monitor changes in internal and external factors and identify emerging risks
• Be at the forefront of first line risk assessment: risk identification, risk control development, and risk remediation with our client customers
• Own key controls with client partners to ensure sound risk management execution while balancing risk/return awards
• Be at the forefront of understanding regulatory policy changes and partner with our 2^nd line colleagues, Legal, and Public Affairs in executing against new regulatory requirements and Cross River specific policies
• Lead strong third-party risk oversight execution framework including client risk assessment, third party oversight periodic risk review, issue identification and remediation solutions with clients
• Lead and engage cross-functional teams, develop internal capabilities and enhance a strong risk management culture with our 2^nd line colleagues

Qualifications:

• Bachelor’s degree required
• 15+ years of industry-relevant experience including strong management experience and the demonstrated ability to effectively stand up and influence large change-management processes
• Experience in regulated banking complemented with Fintech knowledge, relationships and embedded banking solutions a strong plus
• Strong leadership presence and credibility with client facing and internal 2^nd line risk management professionals. Individual must demonstrate critical competencies in the risk management domain across all risk pillars with deep knowledge of how the embedded financial industry works, intersecting traditional banking with technology in serving our Fintech clients
• Ability to promote a culture of information sharing and working together to solve business problems and meet business goals
• Ability to utilize tools, techniques, and processes for gathering and reporting data for specific departments and/or divisions of a company
• Knowledge of the organization's industry group, trends, directions, major issues, regulatory considerations, and trendsetters; ability to apply this knowledge appropriately to diverse situations
• Knowledge of and ability to create, implement, evaluate and enhance processes in internal controls
• Deep understanding of policies and processes for operational risk management; ability to use tools, data, and best practices to identify, assess, and manage operational risk exposures
• Knowledge of the processes, customs, policies, and rules affecting the way the organization is administered and controlled
• Knowledge of business process improvement tools and techniques, and ability to understand, monitor, update, or enhance existing business or work processes
• Deep knowledge of applicable federal, state, local, and company-specific regulations, policies, and guidelines affecting business practices
• Knowledge of and ability to design, implement and evaluate standard operating procedures affecting daily and strategic business operations in order to increase operational efficiency

#LI-ZN1 #LI-Hybrid

Salary Range: $250,000.00 - $270,000.00