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Selfreliance Federal Credit Union · 3 hours ago

Chief Risk Officer (CRO)

Chicago, IL

Full-time

Onsite

Director/Executive

$130K/yr - $200K/yr

7+ years exp

Selfreliance Federal Credit Union is seeking a visionary Chief Risk Officer (CRO) to lead and oversee the Credit Union’s risk management function. This executive-level strategic role is responsible for safeguarding the Credit Union’s operations, reputation, and regulatory standing by developing and executing a comprehensive risk strategy.

BankingFinanceFinancial ServicesNon Profit

Responsibilities

Enterprise Risk Management: Build and mature the ERM framework; maintain credit union–wide risk assessments; define, monitor, and report key risk indicators (KRIs) aligned with Board-approved risk appetite and tolerance statements; drive risk appetite adoption and oversee mitigation and remediation plans

Information Security Oversight (Second Line, in partnership with the CIO): Provide independent risk oversight of the Credit Union’s information security program, including control posture, testing cadence, incident governance, and regulatory alignment, while ensuring appropriate challenge and escalation in collaboration with the CIO

Business Continuity and Disaster Recovery: Own the Business Continuity Planning and Disaster Recovery programs; conduct regular testing and tabletop exercises; coordinate enterprise crisis response; and ensure recovery objectives meet member, operational, and regulatory expectations

Fraud Risk: Oversee the enterprise fraud risk strategy across cards, ACH/wires, and digital channels; balance member experience with loss prevention; and ensure fraud risks are incorporated into the ERM framework and strategic initiatives

Compliance Oversight | BSA/AML/OFAC: Ensure operations comply with applicable laws, regulations, and standards. Govern compliance and BSA/AML programs, including policies, procedures, training, monitoring, independent testing oversight, issue management, and regulatory exam readiness. Serve as the primary executive liaison for regulators on risk, compliance, and BSA/AML matters

Vendor/Third-Party Risk Management: Lead a comprehensive third-party risk management (TPRM) program, including risk tiering, due diligence, contract risk controls, ongoing monitoring, concentration risk management, and exit strategies

Business Insurance: Manage enterprise insurance coverage strategy, adequacy reviews, and loss-control activities; coordinate claims management and annual renewal planning

Board Reporting: Provide clear, timely, and actionable risk reporting to the Board of Directors, including risk dashboards and emerging risk briefings

Qualification

Risk ManagementCompliance OversightInformation SecurityBusiness ContinuityVendor Risk ManagementRegulatory KnowledgePolicy CraftsmanshipUkrainian LanguageCommunication Skills

Required

7+ years of proven leadership in risk management, compliance, internal audit, or related functions within financial services; credit union experience strongly preferred

Bachelor's degree in Business Administration, Finance, Accounting, Law, or a related field; advanced degree (MBA or equivalent) preferred

Demonstrated experience drafting, updating, and governing policies and procedures, including risk management, compliance, BSA/AML, vendor management, information security, and business continuity

Deep understanding of credit union operations, NCUA regulations, and risk frameworks (ERM, risk appetite, etc.)

Exceptional written and verbal communication skills