Vice President, Financial Risk - Capital Markets Oversight

Overview

This role leads second line of defense oversight of the Bank’s treasury and capital markets activities, with accountability for designing, executing, and continuously improving the capital markets risk oversight program.

Reporting to the SVP, Head of Financial Risk, the position provides credible challenge to the first line of defense and acts as the Bank’s senior subject matter authority on capital markets risk. Responsibilities include forming and defending independent risk conclusions and advising senior leadership, asset/liability and risk committees, and the Board of Directors. This role represents the second line with regulators, external auditors, and other independent reviewers, and provides assurance on compliance with governing policies.

Hybrid/remote with onsite locations in: Sioux Falls, SD; Phoenix, AZ; Louisville, KY; Troy, MI; Franklin, TN; Easton, PA.

Responsibilities

• Own the second line oversight program for capital markets risk, including the annual oversight plan, coverage standards, and methodologies used to evaluate first line risk management.
• Direct independent evaluation of funds management and liquidity risk management processes, including contingency funding plan adequacy, and approve resulting risk conclusions.
• Provide credible challenge to prepaid deposit assumptions, decay analysis and deposit behavior modeling, and to interest rate risk assumptions, models, and scenario design.
• Assess risk characteristics of the investment portfolio, counterparty exposures, foreign currency translation risk, and hedging, derivative, secondary loan market sale, and off-balance sheet strategies; escalate exposures outside approved appetite.
• Oversee exposure limits, key risk indicators, and control design that protect assets through shifting market conditions; determine when a breach requires remediation, executive escalation, or Board notification.
• Serve as the designated second line voice on business-level committees and working groups; sponsor new working groups where oversight gaps are identified.
• Partner with the Treasury department to understand risk management processes while preserving the independence of second line conclusions.
• Monitor and enforce adherence to financial regulations, market standards, and internal policy; coordinate with Internal Audit, Model Risk Management, and Compliance to avoid duplication and close coverage gaps.
• In partnership with the Head of Financial Risk, act as second line contact for examiners and external auditors on capital markets matters; own the response, remediation plan, and its closure.
• Perform other duties as assigned.

Requirements

• Bachelor’s Degree or equivalent education and work experience; degree in finance, business, economics, or mathematics preferred.
• Typically 12+ years with a bachelor’s or equivalent in banking, capital markets, or comparable financial services.
• 8+ years of direct experience with capital planning, liquidity risk, interest rate risk, and investment portfolio management.
• Demonstrated experience communicating risk to regulators and audit firms, including leading discussions, presenting information, and responding to requests.
• Experience presenting to executive management, risk committees, and boards of directors, and defending independent risk conclusions.
• Prior experience with prepaid deposits, preferred.
• Strong analytical skills and executive-level written and verbal communication; ability to translate technical risk into clear implications and recommendations for executives, committees, the Board, and regulators.
• Deep subject matter expertise in banking and finance, including liquidity risk and management strategies, interest rate risk modeling and assumptions, and capital planning and stress testing.
• Working knowledge of quality control concepts and risk management.
• Working knowledge of policies and procedures development and oversight.
• Demonstrated ability to deliver credible challenge and influence without direct authority, with sound judgment on what to escalate to executive management and the Board.
• Working knowledge of policy and procedure development and oversight.
• Knowledge of Microsoft Office required; knowledge of a governance, risk and compliance platform such as Archer preferred.

Preferred Qualifications

• MBA Degree or CFA.

Compensation & Benefits

• Salary range: $182,000 – $273,000.
• Eligible for an annual performance-based incentive opportunity.
• Comprehensive benefits package for eligible employees, including:
  • Health insurance
  • 401(k) retirement benefits
  • Life insurance
  • Disability benefits
  • Paid time off
  • And more

Location

Hybrid/remote with onsite locations in:

• Sioux Falls, SD
• Phoenix, AZ
• Louisville, KY
• Troy, MI
• Franklin, TN
• Easton, PA