Senior Vice President, Head of Client Risk, Cross River
$250-270k
Office located in Fort Lee, New Jersey
Banking and fintech services
Open for applications
Banking and fintech services
1001+ employees
Open for applications
$250-270k
Office located in Fort Lee, New Jersey
1001+ employees
Company mission
To enable clients to deliver responsible financial solutions that empower consumers anytime, everywhere.
Role
Who you are
- 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 2nd 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
What the job involves
- 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
- 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 2nd 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 2nd 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 2nd line colleagues
Our take
Cross River is a fintech and banking company that builds scalable embedded payments, cards, lending, and crypto solutions for businesses and individuals. Now a unicorn company with a valuation exceeding $1 billion, Cross River was founded in 2008 as a way to combine the innovations of financial technology with the existing world of banking.
Cross River has partnered with rising fintech businesses such as Ibanera, helping the Florida-based company build an all-in-one cross-border payments service. The company’s bigger picture approach has allowed it to develop several arms in the lending, compliance, and capital market sectors, amongst others, leading to a corporate flexibility that is crucial in the rapidly-evolving market.
Cross River was named as one of several companies under investigation for facilitating PPP fraud in the US as of December 2022. It has also come under intense scrutiny from the FDIC for allegations of unsafe banking practices in relation to its lending activities, with a consent order issued in March 2023. In the wake of the FTX and Silicon Valley Bank collapses the regulatory environment is getting tougher and Cross River clearly needs to ensure its processes and activities are compliant with the law if it is going to return to its previous position of growth.
Freddie
Company Specialist at Welcome to the Jungle
Insights
4% employee growth in 12 months
Company
Funding (last 2 of 4 rounds)
Mar 2022
$620m
LATE VC
Apr 2020
$100m
SERIES C
Total funding: $848m
Company benefits
- Retirement planning
- Employee development fund
- Ongoing learning and development opportunities
- Volunteer opportunities
- Charitable donation matching
- Monthly happy hours
- Free haircuts in our salon located at HQ
- Complimentary dry cleaning at HQ
- Valet parking at HQ
- Shuttle service to/from NYC
- Gym located at HQ
- River Cafe at HQ
Company HQ
Fort Lee, NJ
Leadership
Gilles Gade
(CEO & Chariman)Previously CFO at First Meridian Mortgage, Co-Founder and Managing Director at Chela Technology Partners, Associate Director at Barclays Capital and Investment Banking Associate at Bear Stearns & Company.
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