Job Description
About Us: Piermont Bank is a tech-enabled digital commercial bank founded in 2019 with a mission of changing the face and pace of banking. It provides an unprecedented experience that blends the best of banking and agile Fintechs. At Piermont, we are purpose-driven, and focused on creating and delivering banking products relevant to today's digital economy. We are the go-to Bank for the fintech ecosystem. For more information, visit
The Role: The Deputy Chief Risk Officer supports the Chief Risk Officer (CRO) in providing oversight of risk management and monitoring and ensuring the Bank operates within the approved risk appetite. This position will assist in overseeing all areas of compliance and risk including enterprise/operational, credit, regulatory, legal, technology, and strategic risks. This role will assist with communicating with executive management and the relevant risk committees to ensure proper risk management and sound corporate governance.
Responsibilities: - Act on behalf of the CRO working with internal management, the Board of Directors, external stakeholders (regulators, external auditors, etc.), and others, when necessary.
- Sit as Vice Chair of the Enterprise Risk Management Committee; assist with agenda development and help with the preparation of presentation material.
- Lead maintenance of the framework for evaluating and overseeing the periodic determination of the associated risk target.
- Provide support, education, and training to staff to build risk awareness within the Bank.
- Assist in responding to regulatory inquiries and preparing for regulatory examinations.
- Support the quantitative analysis supporting the risk appetite statement.
- Assist in managing and making necessary revisions to the Enterprise Risk Management Policy to ensure it remains current.
- Conduct risk assessments to analyze, identify, describe, and estimate the risks affecting the Bank as well as to ensure ongoing compliance with applicable regulations.
- Prepare risk evaluations based on cost, legal requirements, and environmental factors while evaluating the Banks "risk appetite," i.e. the level of risk we are prepared to accept.
- Ensure that behavior in the Bank meets the company's Standards of Conduct with the CRO.
- Conduct audits of policy and compliance to standards and act as a liaison to external auditors.
- In partnership with the BSA Officer and/or Compliance Officer:
- Maintain a comprehensive compliance program to ensure ongoing compliance with the BSA/AML and OFAC laws and regulations.
- Monitor the level of compliance with BSA and related regulations throughout the business and conduct risk assessments of the effectiveness of the Bank compliance program.
- Conduct analysis of proposed BSA/AML and OFAC laws and regulations and associated emerging risks.
- Monitor BSA/AML and OFAC training for all positions that require annual training.
- Evaluate, and when appropriate, recommend changes to policies and procedures of the Bank.
- Remain abreast of regulatory requirements and ensure compliance.
Qualifications :
- Bachelor's degree in relevant field, Master's degree and/or certification preferred (CAMS, Risk Management, or FRM).
- 15 years of relevant work experience managing risk in a financial institution.
- 10 years of management experience in a broad enterprise risk management role with associated experience overseeing multiple risk areas and aggregating risk exposures.
- Proven ability to interact and work well with internal and external stakeholders (management, Board, regulators, etc.).
- Deep understanding of regulatory reporting.
- Sound judgement and strong analytical/problem-solving skills.
- Strong project management skills and proven ability to manage project risks.
- Comprehensive knowledge and experience in evaluating compliance, risk management, and operational risk concepts and prudent practices for managing those risks.
- A high degree of familiarity with BSA/AML and OFAC information technology concepts and applications in a wide range of operating environments.
- Strong verbal and written communication skills; ability to engage stakeholders to influence and effect change.
- Proven ability to prioritize competing demands.
The hiring range for this position is $160,000 to $200,000 per year. The base pay actually offered will take into account internal equity and also may vary depending on the candidate's job-related knowledge, skills, and experience, among other factors. A bonus and/or incentives may be provided as part of the compensation package, in addition to the full range of medical, dental, vision, 401k, and other benefits.
Piermont Bank is an equal-opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees. We do not discriminate based upon race, religion, color, national origin, political affiliation, gender (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, age, status as a protected veteran, status as an individual with a disability or other applicable legally protected characteristics.
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