Chief Risk Officer

Background

We were founded in Albuquerque, New Mexico in 1994, as a 501(c)(3) nonprofit organization that increases access to business credit, makes loans, and provides support to enable
underserved and under-represented entrepreneurs to realize their dreams and be catalysts for positive economic and social change. We are certified by the U.S. Department of Treasury as a
Community Development Financial Institution (CDFI).

DreamSpring is one of six high-impact organizations selected by the Aspen Institute’s  Business Ownership Initiative for participation in the Microenterprise Impact Collaborative,
a group committed to increase the scale and impact of the microfinance field.

Summary

Under general supervision of the President/CEO, works with other members of the Executive Leadership Team to accomplish the objectives of the organization. Oversees risk functions for the organization and the identification, evaluation, and mitigation of enterprise-wide risks to ensure DreamSpring’s sound, successful operations. Implements and oversees risk management strategies in areas that include credit risk, technology risk, compliance risk, operational risk, and strategic risk. Responsible for enterprise-wide strategic planning, organizing, and managing all functions required to ensure effective business operations and adherence to regulatory requirements. Responsible for ensuring the overall quality of DreamSpring’s lending portfolio.

Develops implements, and achieves annual goals and objectives as established in the organizational strategic plan as well as the risk department’s annual strategic plan; ensuring the department’s compliance with various operating policies and procedures and regulatory requirements; directly supervising assigned personnel; communicating and interfacing with other departments and management personnel; and providing periodic management reports.

Responsibilities

NOTE: DreamSpring may unilaterally change the requirements of this job description at any time.  To perform this job successfully, an individual must be able to perform each essential duty satisfactorily.  These include, but are not limited to, the following:

Executive Leadership

• Provides leadership, along with other members of the executive leadership team, to formulate and execute DreamSpring’s vision and strategy under the direction of the President/CEO and Board of Directors.
• Participates in the development, design, and direction of the strategic plan of the company and includes strategic risk management priorities in the company’s overall strategic plan.
• In coordination with the President/CEO, executive leadership team, and the Board of Directors, recommends the amount of risk that the company should be taking; establishes, updates, and enforces this risk appetite.
• Develops and oversees execution of a strategic plan for all functions in span of control.
• Establishes short-term and long-range objectives related to risk for the organization and its departments and functions.
• Establishes, implements, and communicates goals, objectives, policies, and procedures in accordance with strategic plans.
• Oversees risk-related budget and risk management and mitigation projects.
• At the direction of the President/CEO, supports and participates in Board and Board committee meetings.
• Keeps the President/CEO, executive leadership team, the Board of Directors and, as warranted, external stakeholders such as creditors and investors informed about the company’s risk profile and assessments.

Credit Risk

• Monitors, develops strategies, and implements measures to optimize the quality of DreamSpring’s loan portfolio in line with the organization’s risk appetite, goals, and covenant obligations.
• Oversees DreamSpring’s credit underwriting function and department. Leads the team responsible for analyzing and reporting on entity-wide credit risk.
• Establishes credit risk limits in accordance with the company’s risk appetite and provides leadership for all risk and credit-related committees.
• Assesses, measures, models, and forecasts loan portfolio credit risk, including loan default modeling, loss reserve setting, and stress testing, and calculation of loan-related current expected credit loss (CECL) and risk-based capital (RBC) projections.
• Evaluates risk related to DreamSpring’s consideration of and engagement in loan sales, loan purchases, loan participation agreements, and loan guarantee agreements. Involved parties may include federal, state, and local public entities as well as private institutions.
• Researches, understands, and plans for the implementation of next-generation technology and analytical capabilities within the credit risk function.
• Oversees the production and quality of credit risk reports.
• Reviews large, complex loan requests, determining whether to recommend onward submission to the credit committee.
• Proactively communicates with senior management, staff, and the Board of Directors regarding key credit risk-related topics and acts as a key strategic resource for the institution.
• Provides key leadership and direction on credit risk-related improvements, efficiencies, and automation.
• Develops a clear and concise credit risk appetite across all products, and further refines policies, procedures, and monitoring processes.
• In coordination with the President/CEO, enhances and builds strong credit risk oversight committees accordingly.

Technology Risk

• Ensures DreamSpring and its data and information are protected from technology risks such as cyber-attacks, vendor and platform disruptions, and power outages.
• Oversees design, implementation, and enforcement of information protection strategies.
• Oversees identification and implementation of best practice fraud prevention strategies and tools, particularly related to online lending.
• Plans and executes information assurance strategies to protect against and manage risks associated with the use, storage and transmission of data and information.

Compliance Risk

• Ensures DreamSpring complies with and is able to continue satisfying all rules, laws, certifications, designations, and regulations pertaining to the company and its operation across multiple states.
• Monitors and ensure Dreamspring’s continued designation as a 501(c)(3) organization by the Internal Revenue Service.
• Monitors and ensures DreamSpring’s continued certification as a Community Development Financial Institution (CDFI) by the U.S. Department of the Treasury.
• Monitors and ensures DreamSpring’s continued designation as a U.S. Small Business Administration (SBA) Community Advantage lender.

Operational Risk

• Establishes and maintains an up-to-date and comprehensive business continuity plan.
• Establishes and maintains an up-to-date and comprehensive disaster recovery plan.
• Monitors and takes steps so that DreamSpring’s financial position supports ongoing business operations, growth targets, and creditor and investor requirements, including liaising with the Chief Financial Officer, President/CEO, Treasurer, and Finance Committee.
• Monitors the performance of DreamSpring’s investment portfolio and liaises with the Chief Financial Officer, President/CEO, Treasurer, and Finance Committee as needed for optimal investment portfolio performance within DreamSpring’s risk appetite and investment policy.
• Ensures the integrity and robustness of DreamSpring’s internal audits.
• Identifies and ensures appropriate insurance coverage for the company.
• Assesses how errors made by employees or system failures might disrupt business processes and develops and implements strategies to minimize exposure to those risks.
• Assesses other risks related to business operations, such as employment and vendor risks, and develops and implements strategies to mitigate such risks.

Strategic Risk

• Identifies and mitigates risks that may impact the company’s ability to fulfill its mission and strategic plan or to execute its strategies.
• Assesses DreamSpring’s competitiveness in the marketplace and develops and informs strategies to optimize the success of the company’s brand while mitigating competitive risks.
• Identifies and mitigates risks to DreamSpring’s reputation, recognition, and standing with internal and external stakeholders.
• Monitors industry trends and identifies opportunities to increase the company’s operational effectiveness and competitive position within its markets.

Additional Responsibilities

• Upholds and models DreamSpring’s organizational values and values-based behaviors.
• Serves as an effective supervisor to direct reports.
• Establishes and maintains strong relationships with key external stakeholders, such as regulators, auditors, vendors, and customers. Represent the institution and its mission in a variety of public fora, such as industry conferences, media interviews, and community events.
• Develops, generates, and explains risk-related information and reports in a timely and accurate manner for the executive team, the board of directors, and other parties as required.
• Encourages a transparent and connected culture between the credit risk and risk functions of the organization and DreamSpring’s leadership team and Board of Directors.
• Creates and manages a meaningful, sustainable balance between business growth and a prudent organizational risk appetite. This includes engaging in skillful dialogue with other DreamSpring business leaders and, at times, navigating differing opinions to ensure decisions are consistent with DreamSpring’s risk appetite, mission, strategy, and values.
• Maintains up-to-date professional and technical knowledge through means such as conducting research, reviewing professional publications, engagement in professional societies and networks, and participating in educational opportunities.
• Contributes to a team effort and accomplishes related results as required.
• Performs other duties as required.

Requirements

The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodation may be made to enable individuals with disabilities to perform essential functions.

• Bachelor’s Degree in Accounting, Finance, Business Administration, Statistics or related field plus ten years of progressive work experience, including as a Chief Risk Officer, overseeing credit risk and risk management for a financial institution. Experience managing multiple fund programs and/or accounts; experience in auditing, computerized fund accounting, portfolio management, indirect cost negotiations, and federal program accounting required.
• Knowledge of current and best practices in risk management, including credit risk, for financial institutions.
• Knowledge of the principles and practices of management and fund accounting, finance, and business administration.
• Knowledge of the standards, policies, practices, and procedures of Generally Accepted Accounting Principles and Governmental Accounting Standards.
• Knowledge of the development, preparation, and control of budgets.
• Knowledge of managerial and statistical analysis techniques and reporting procedures.
• Knowledge of navigating working in a virtual or hybrid work environment.
• Knowledge of strategy development, including crafting business plans, understanding key financial and operational value drivers, and developing strategic partnerships.
• Ability to communicate effectively in the English language both verbally and in writing.
• Ability to establish and maintain professional relationships with individuals of varying social and cultural backgrounds and with co-workers at all levels.
• Ability to maintain confidentiality.
• Ability to create and present effective speeches and presentations.
• Ability to analyze situations and adopt appropriate courses of action.
• Ability to work independently and meet strict timelines.
• Ability to make solid decisions and exercise independent judgment.
• Ability to be persuasive and tactful in crucial conversations with colleagues.
• Ability to interpret applicable federal, state, county, and local laws, regulations, and requirements.
• Skill in operating business computers and office machines, including in a Windows environment, specifically Word, Excel, Access, presentation software (such as PowerPoint), and PC-based computerized accounting software.
• Skill in preparing, reviewing, and analyzing operational and financial reports.
• Skill in providing leadership to, supervising, training, and evaluating assigned staff.
• Skill in analyzing problems, projecting consequences, identifying solutions, and implementing recommendations.
• Skill in delivering consistently accurate information and materials.
• Must be able to successfully pass a pre-employment drug/alcohol screen and background investigation.
• Must have a good driving record, valid, driver’s license, vehicle insurance, and a reliable vehicle.

Preferred Qualifications:

• Master’s degree, particularly in business, economics, finance, law or a related field.
• Experience in information technology and cybersecurity.
• Bilingual, English/Spanish.

Needed Attributes:

• Ability to demonstrate excellence, and continually seek improvement in results.
• Ability to demonstrate passion around the work of DreamSpring.
• Ability to recognize and appreciate the entrepreneurial spirit of all DreamMakers.
• Ability to guide actions, behavior, and results with integrity.
• Ability to embrace feedback and to respond positively.
• Ability to effectively communicate complex risk-related information to a wide range of expert and non-expert stakeholders.
• Holds oneself and others accountable for behavior, actions, and results.
• Demonstrates consistency in values, principles, and work ethic.
• Willingness to take on new challenges, responsibilities, and assignments.
• Able to work with a diverse group of people.
• Skilled in change management with diverse stakeholders.
• Professional demeanor, including verbal and nonverbal communication.

Compensation and Benefits

Benefits

401(K) and Matching Contribution

Paid Time Off

STD

LTD

Life Insurance

ADD

Medical

Dental

Vision

EAP

HRA

Schedule

Monday – Friday

Compensation

$185,000.00

How to Apply

Please send you resume to Michelle Aguilar, Director of People and Culture with DreamSpring at maguilar@dreamspring.org.