Job Description
Join Triumph Financial! At Triumph Financial, we're focused on creating value by driving business and communities of all sizes toward the future. That's why we're looking for passionate, solutions-oriented people to join our team. As a values-driven financial service company, our goal is to help our clients succeed and our communities prosper - and that starts with forward-thinking professionals dedicated to our purpose of Helping People Triumph.
Position Overview: Triumph Financial is a Financial and Technology Company focused on payments, factoring and banking. Through our brands of TriumphPay and Triumph, we use technology and innovation to reduce friction in cash flow management and increase the speed of payments for the trucking industry. Our TBK Bank brand provides consumer, business and commercial banking solutions, including a full range of lending products. Reporting to the COO, the Chief Risk and Compliance Officer is responsible for (1) maintaining a strong Compliance Management Program designed to ensure the company's compliance with laws and regulations, (2) defining policies and standards necessary to ensure compliance with laws and regulatory requirements, (3) monitoring for compliance to those policies and standards, (4) advising and guiding all aspects of the business on compliance matters, (5) integrating risk management concepts into strategic planning and risk identification and monitoring activities, as well as (6) promoting awareness and training to mature the three lines of defense. They will provide advice and solutions to senior leadership and the Board of Directors on risk and compliance matters; ensure risk management and internal control measures are integrated into all aspects of strategic and operational planning. The incumbent will lead a team of risk and compliance experts to identify risks that impact the delivery of mandates and strategic objectives of the TFIN organization.
Essential Duties & Responsibilities: Risk Management:
- Provide strategic oversight and continued maturity of the comprehensive enterprise risk management framework that identifies, assesses, and mitigates risks associated with all segments of the business including factoring, payment solutions and banking operations.
- Expertise in building and executing BaaS specific risk management capabilities with an emphasis on the management of risk and compliance with vendors and fin-tech partners.
- Monitor and assess risks related to credit, market, operational, regulatory, technology and strategic aspects of the business.
- Implement effective enterprise risk policies and procedures necessary to assist first-line business units with identifying and minimizing exposure to potential threats.
- Expertise in building and executing BaaS specific risk management capabilities with an emphasis on the management of risk and compliance with vendors and fin-tech partners.
- Chairs the management risk committee and provides quarterly risk reports to the board risk committee.
- Instilling a consistent level of risk awareness throughout the organization.
Compliance Management:
- Stay up to date with relevant banking regulations, including Safety and Soundness, BSA/AML/OFAC, Consumer Protection, Privacy and data governance and other industry-specific compliance requirements.
- Maintain a strong compliance management system commensurate in scale and capability with the size, growth, and complexity of the business, regarding direct and indirect regulatory risks incurred.
- Provide appropriate monitoring, guidance and advice to business leaders to ensure that the company's operations, products, and services comply with all applicable laws and regulations.
- Develop and maintain a compliance program that includes policies, training, and reporting mechanisms.
- Experience and expertise with bank regulators
- Maintain strong relationships and open lines of communication with bank regulators, taking the lead in managing examinations and other ongoing regulatory interactions.
Strategic Planning
- Work closely with senior management to integrate risk and compliance considerations into the company's strategic and decision-making processes.
- Develop and execute initiatives to enhance risk management and compliance capabilities.
- Provide strategic advice and solutions to senior leadership on risk and compliance matters and how to navigate unknown risks
Team Leadership
- Build and lead a high-performing risk and compliance team, providing guidance, mentorship, and support.
- Foster and champion, a corporate culture in which all personnel view regulatory compliance and risk management as key objectives.
Reporting and Communication
- Prepare and present regular risk and compliance reports to the executive team and board of directors.
- Collaborate with external auditors and regulatory agencies, ensuring transparency and cooperation in audits and examinations.
Experience & Education: The successful candidate will possess risk management and compliance skills. Additionally, the ideal candidate should possess the following:
- Bachelor's degree in Finance, Accounting, Business, or a related field; Juris Doctor, MBA or advanced degree preferred.
- Minimum 20 years of work experience progressively responsible for compliance or risk management, administration, organizational development, operations, strategic planning, project management or both.
- Knowledgeable in banking and payment regulatory requirements; aware of the economic environment that will impact the Company's strategic plans.
- Expertise in building and executing BaaS specific risk management capabilities with an emphasis on the management of risk and compliance with vendors and fin-tech partners.
- Proven experience is required in developing, implementing and managing plans including, but not limited to, risk management, compliance management, crisis management, and business continuity.
- Proven track record of successfully managing risk and compliance programs within the banking industry and payment solutions industry.
- Minimum 15 years of management experience with exceptional leadership skills
- Knowledgeable in banking and payment regulatory requirements; aware of the economic environment that will impact the Company's strategic plans.
Skills & Abilities Required: - Ability to operate within a fast-paced high growth environment
- Strategic thinker
- Develop high performing team(s)
- Strong relationship builder
- Analyze risk trends at a macro level
- Strong communicator
Work Environment: The work environment characteristics described here may be encountered while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
- Moderate noise (i.e. business office with computers, phone, and printers).
- Ability to work in a confined area.
- Ability to sit at a computer terminal for an extended period of time. Occasional stooping or kneeling may be necessary.
- While performing the duties of this job, the employee is regularly required to stand, sit, talk, hear and use hands and fingers to operate a computer keyboard and telephone.
- Specific vision abilities are required for this job due to computer work.
- Light to moderate lifting is required.
- Regular, predictable attendance is required.
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