Enterprise Risk Officer, SVP

The Federal Home Loan Bank of San Francisco ("Bank") is a cooperative, wholesale bank that provides liquidity to its members and helps meet community credit needs by providing credit products and services to member financial institutions through all phases of the economic cycle. The Bank's members include commercial banks, credit unions, industrial loan companies, savings institutions, insurance companies, and community development financial institutions headquartered in Arizona, California, and Nevada. The Bank is member focused; embraces accountability to meet commitments and uphold our governance, risk and control standards as a government sponsored enterprise; and values differences to foster an inclusive culture.

Under the direction of the Chief Risk Officer (CRO), the Enterprise Risk Officer (ERO) is a senior leader with responsibility for managing enterprise risk groups in the Risk Division of the Bank. The ERO manages certain enterprise-level risk programs that are included in the roles of the Risk Division risk groups. The ERO oversees the enterprise risk assessment methodology and its application across the enterprise to identify, evaluate, measure and monitor key risks of the enterprise, and supports achievement of a strong and effective enterprise-wide risk management culture. The ERO reports to the CRO and is responsible for the following groups within the Risk Division:

• Compliance Risk Management
• Data Science and Risk Analytics
• EUC Risk Management
• Operational and IT Risk Management
• Records Management
• Model Risk Management
• Business Continuity Management

ERO's key responsibilities include:

• Help assess, monitor, measure, and report on the enterprise risk profile and the enterprise-wide risk management strategies executed by the Bank to meet its business goals.
• Identify and recommend mitigating risk measures and adjustments to Bank activities and strategies where necessary, and to monitor alignment between the risk appetite of the Bank and the enterprise risk profile.
• Assess, monitor, measure and report on the risk management frameworks for key risks across the Bank and identify opportunities for improvements in collaboration with business line leaders in the Bank.
• Support the CRO to execute on the Risk Division enterprise risk management objectives which include establishing a governance structure and risk policies and frameworks that support an enterprise risk profile consistent with the Board's stated risk appetite. Risk division objectives also include assessing and monitoring the various business processes and operations, and methodologies designed to identify measure, assess, control, respond, monitor, and report on risk management within the Bank.
• Support the CRO to execute the enterprise risk management processes used to provide the Enterprise Risk Committee (ERC) reasonable assurance that business risks are systematically identified, assessed, managed in an effective manner, and aligned with the risk appetite, business strategy, and risk tolerances adopted by the Board.
• Manage the enterprise risk assessment methodology, provide leadership, facilitate and assure that annual risk assessment performed by management is complete and a reliable representation of enterprise risk.
• Manage the annual Inherent Risk Assessment report for the ERC and the Board.
• Manage certain enterprise-level risk management programs including: the record management program, the hazard risk and insurance programs, the anti- money laundering program (AML) and the financial instrument fraud program, the centralized oversight of the operational incident reporting procedures, and vendor risk management program. Also, serve as the deputy AML Officer and Fraud Officer.
• Support the ERC in providing centralized oversight of the compliance risk management by maintaining the inventory of compliance obligations, overseeing the compliance change management process, and by reviewing and reporting on certain compliance risks across the Bank.
• Help oversee the development and implementation of appropriate financial models for risk analysis, risk measurement, and simulation analyses.
• Support the CRO to prepare the reports for the Board and also present them to the Board
• Report on emerging issues, changes in the external environment that can affect the Bank's risk profile, changes in Bank operations, and new strategies and initiatives that could increase risks.
• Facilitate the application of the risk assessment methodology in the business strategic planning process, where applicable.
• Assess and monitor change management processes across the Bank. Perform risk assessments for new business products and new business processes.
• Provide support to business units in the design and implementation of business operations controls. Perform risk assessments of business unit operations on a risk-adjusted basis.
• Monitor the risk industry for best practices and for the basis to benchmark the Bank's risk management practices.
• Manage the operation of the ERC.
• Responsible for maintaining the Bank's risk management policies.
• Participate with other deputies in the Operational Risk Management and Compliance Risk Management Working groups discussions of emerging issues, changes in the external environment that can affect the Bank's operations and FHFA compliance risk profile and report any recommended actions to the CRO and ERC.
• Serve on various risk management committees and working groups.
• Help facilitate a strong working relationship with the Bank's regulator, the Federal Housing Finance Agency and their Bank exams,
• Hire, develop, support, and retain staff required to execute the Risk Division responsibilities.

• Bachelor's Degree in Finance, Business, Economics, Accounting, a related field, or equivalent work experience, is required. Masters' degree in finance or business administration is strongly preferred. Certifications in related fields are preferred.
• Fifteen years of experience in banking or regulatory environment.
• Minimum of ten years of prior management experience, with success leading teams and making key decisions in a demanding environment.
• Risk Management - Expert working knowledge of principles and practices of enterprise-wide risk management. Knowledge to evaluate and monitor financial instrument risk, credit risk, financial reporting risk, compliance risk, and operations risk. Knowledge of Bank-wide risk management systems and best practice internal control environments.
• Financial Management - Strong finance and accounting background (in the financial services industry), financial reporting (external and internal), and asset / liability management.
• Capital and Secondary Markets - Familiarity with residential and income property mortgage loan underwriting and servicing standards, secondary market due diligence and market valuation standards and valuation models for mortgage loans, real estate appraisal standards, financial instrument valuation, and financial institution liquidity management.
• Financial Institutions - Knowledge of the business of the Bank's members, the range of Bank business and financial strategies, and the member and Bank associated financial, operations and regulatory risk. Understanding of regulatory requirements, regulatory examination, and enforcement processes of the FHFA, OCC, FDIC, FRB and NCUA. Strong understanding of safe and sound banking practices.
• Knowledge of Bank-wide risk management systems and best practice internal control environments including COSO and COBIT.
• Should have knowledge of information and cyber security technology and risk management.
• Strategic and forward-looking mindset, including early identification of emerging risks and technology-driven disruption affecting the Bank, members and counterparties. Strong leadership and communication skills are required to serve as a credible force for change in a risk-adverse environment.
• Excellent analytical, communication, and presentation abilities, including experience working with boards and regulators.
• The ability to set vision and lead transformation within the risk function so that we keep pace with - and ideally lead - industry best practices.
• Executive-level communication skills to represent the function effectively with the Board, Leadership Team, FHFA, member regulators, and across the FHLBank System.
• Strong enterprise leadership and organizational navigation skills, including managing within regulatory protocols and governance expectations.
• A demonstrated track record of leading leaders and developing high-performing teams.

Salary Range: $310k - $355k

The Federal Home Loan Bank of San Francisco is committed to the principles of equal opportunity in employment (e.g., employees, applicants) and in contracting (e.g., suppliers, vendors) regardless of race, color, religion, sex, national origin, disability status, genetic information, age, sexual orientation, gender identity, status as a parent, or any other characteristic protected by law. We are committed to cultivating a workplace free of unlawful discrimination, harassment, and retaliation, and are dedicated to fostering vibrant communities by serving as a reliable source of liquidity and resources for affordable housing and economic development.

Salary ranges reflect the base salary that the Bank reasonably expects to pay for a given role and is not inclusive of annual incentive award opportunities, retirement benefits or the value of other health and welfare or other ancillary benefits. We consider many factors when determining base salaries such as individual background and experience, the competitive environment, education, particular skill set(s), and industry and institutional knowledge.

The Bank is committed to offering all team members challenging and engaging work with market competitive pay, retirement, and benefit offerings. In support of this commitment, the Bank routinely engages in market competitive benchmarking surveys and analysis to ensure our team members continue to be paid fairly and competitively.