Job Description

JOB TITLE: CHIEF RISK OFFICER
ORGANIZATIONAL UNIT: EXECUTIVE OFFICE
REPORTS TO: BOARD OF DIRECTORS
OVERSEES: COMPLIANCE AND AUDIT
EMPLOYMENT TYPE: CONTRACTUAL
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ABOUT ST. JOHN'S CREDIT UNION
St. John's Credit Union Ltd. is committed to providing exceptional financial services to our
members while maintaining the highest standards of integrity, transparency, and
community service. We foster a collaborative work environment that values professional
development and ethical practices.
Position Summary
The Chief Risk Officer (CRO) is responsible for the independent oversight, development,
implementation, and continuous enhancement of the Credit Union's Enterprise Risk
Management (ERM) Framework. The CRO provides leadership in identifying, assessing,
monitoring, mitigating, and reporting strategic, credit, operational, liquidity, market,
compliance, legal, information technology, cybersecurity, fraud, and reputational risks.
As a member of the Executive Management Team, the CRO supports the Board of
Directors, Supervisory Committee, Executive Management, and departmental leaders in
ensuring that risk management practices are embedded throughout the organization and
aligned with the Credit Union’s strategic objectives, regulatory requirements, and risk
appetite.
Duties and Responsibilities
Corporate Responsibilities
• Adheres to the Credit Union's Mission, Vision, Core Values, and Service
Standards.
• Demonstrates professionalism, integrity, and teamwork in all interactions.
• Maintains strict confidentiality of member, employee, and organizational
information.
• Participates in community outreach, financial literacy initiatives, speaking
engagements, and Credit Union-sponsored events.
• Complies with all applicable laws, regulations, policies, procedures, and ethical
standards.
• Promotes a strong risk-aware culture throughout the organization.
Enterprise Risk Management
• Develops, implements, and maintains the Credit Union's Enterprise Risk
Management (ERM) Framework.
• Establishes and maintains the Credit Union's Risk Appetite Framework, including
risk appetite statements, tolerance levels, and key risk indicators.
• Leads the implementation and oversight of the Three Lines of Defense Model
across the organization.
• Develops and maintains a comprehensive enterprise risk register and ensures
regular risk assessments are conducted across all departments.
• Identifies, assesses, monitors, measures, mitigates, and reports on strategic,
operational, financial, compliance, cybersecurity, fraud, reputational, and credit
risks.
• Provides independent risk oversight of all significant business initiatives, projects,
products, services, and strategic decisions.
• Conducts enterprise-wide risk assessments and recommends appropriate
mitigation strategies.
• Develops and maintains Key Risk Indicators (KRIs) and risk dashboards for
management and Board reporting.
• Coordinates periodic stress testing, scenario analysis, and business continuity risk
assessments.
• Oversees the development and maintenance of the Credit Union's Business
Continuity Plan and supports disaster recovery preparedness activities.
Credit Risk Management
• Oversees the Credit Union's credit risk management framework and monitors
portfolio performance.
• Conducts ongoing analysis of loan portfolio quality, concentration risks,
delinquency trends, charge-offs, and recoveries.
• Reviews and recommends lending policies, underwriting standards, and credit risk
controls to ensure alignment with the Credit Union's risk appetite.
• Evaluates emerging economic, industry, and regulatory risks that may impact the
loan portfolio.
• Monitors collection activities and recovery strategies to ensure effectiveness and
compliance with policies and regulatory requirements.
• Provides regular reports and recommendations regarding portfolio quality,
provisioning requirements, and emerging credit risks.
Operational Risk and Internal Controls
• Develops and maintains an operational risk management framework.
• Reviews internal controls and recommends improvements to strengthen
governance, efficiency, and risk mitigation.
• Coordinates risk and control self-assessments across departments.
• Oversees the identification, assessment, and management of fraud risks
throughout the Credit Union.
• Monitors operational loss events and recommends corrective actions.
Compliance and Regulatory Risk
• Works closely with the Compliance Officer to ensure regulatory risks are
appropriately identified, monitored, and managed.
• Monitors changes in applicable laws, regulations, regulatory guidance, and
industry best practices.
• Advises Management and the Board regarding emerging regulatory risks and
required corrective actions.
• Assists in coordinating responses to regulatory examinations, audits, and riskrelated inquiries.
• Supports Management in addressing examination findings, corrective actions, and
regulatory commitments.
Information Technology and Cybersecurity Risk
• Collaborates with the COO, IT personnel, and external service providers to identify
and manage technology, cybersecurity, and data privacy risks.
• Monitors risks related to core banking systems, digital channels, third-party service
providers, and technology projects.
• Assesses cybersecurity controls and supports incident response planning and
cyber resilience initiatives.
• Oversees third-party risk management processes and vendor risk assessments.
Governance, Reporting, and Strategic Leadership
• Serves as a member of the Executive Management Team and contributes to the
development and execution of the Credit Union's strategic plan.
• Prepares and presents periodic risk reports, risk dashboards, and risk
assessments to the Board of Directors, Supervisory Committee, and Management.
• Provides independent risk opinions and recommendations to support executive
and Board decision-making.
• Works collaboratively with internal and external stakeholders to strengthen the
overall risk management framework.
• Promotes risk awareness through training, coaching, and education across all
levels of the organization.
• Performs other duties as assigned that are consistent with the responsibilities of
the position.
Education and Professional Qualifications
• Bachelor's Degree in Risk Management, Finance, Accounting, Business
Administration, Economics, Banking, or a related field.
• Master's Degree in Business Administration (MBA), Finance, Risk Management,
or a related discipline is preferred.
• Professional certifications such as CRMA, FRM, CRM, CERA, CIA, CISA, CAMS,
or equivalent are considered an asset.
Experience
• Minimum of ten (10) years of progressively responsible experience within a
financial institution, credit union, bank, regulatory body, audit function, compliance
function, or risk management environment.
• Minimum of five (5) years in a senior leadership, management, or executive role.
• Demonstrated experience developing and implementing Enterprise Risk
Management (ERM) frameworks.
• Strong knowledge of credit risk, operational risk, compliance risk, financial risk,
cybersecurity risk, and fraud risk management.
• Experience working with Boards of Directors, Board Committees, regulators,
auditors, and executive leadership.
• Knowledge of Central Bank regulations, Credit Union legislation, AML/CFT
requirements, and regulatory compliance expectations.
• Experience in policy development, governance frameworks, risk reporting, and
strategic planning.
• Strong analytical, problem-solving, and decision-making skills.
• Excellent written, verbal, presentation, and interpersonal communication skills.
• Ability to manage multiple priorities while maintaining a high level of
professionalism and independence.
Key Competencies
• Strategic Thinking
• Enterprise Risk Management
• Leadership and Team Development
• Governance and Compliance
• Credit Risk Analysis
• Operational Risk Management
• Cybersecurity and Technology Risk Awareness
• Financial Analysis
• Policy Development
• Regulatory Relations
• Board Reporting and Presentation
• Critical Thinking and Decision Making
• Project Management
• Communication and Relationship Building
• Integrity and Professional Ethics
Deadline: Tuesday, June 30, 2026
Submit application letter, CV, and 2 professional references and a copy of social
security card with subject “Application for Chief Risk Officer Vacancy” to: vacancies@sjcu.com.bz

Skills Required

• Adaptability skills