Director, Risk Management

ABOUT REINVESTMENT FUND:

At Reinvestment Fund, we are dedicated to making a tangible difference in the lives of underserved individuals and communities. Our mission is to create opportunity for underserved people and places through partnerships. We marshal the capital, analytics, and expertise necessary to build strong, healthy, and more equitable communities.

As a federally certified community development financial institution (CDFI), our job is to make finance an agent of positive change and equitable growth. We provide loans, grants and technical assistance to businesses and nonprofits. Our borrowers and grantees educate students, support local economies, and create jobs. They build affordable housing and provide community goods and services that include access to nutritious food, hunger relief, physical and mental health care, and other social services.

ABOUT THE DEPARTMENT:

The Risk & Compliance department is responsible for developing and monitoring an effective risk and control framework across the organization. Risk & Compliance engages directly with business partners to effectively manage various risks in an environment of proactive and strategic problem solving. The Risk & Compliance department, along with Operations and Information Technology, comprise Reinvestment Fund’s Operations department. The Director will report directly to the Managing Director, Risk and Compliance.

ABOUT THE POSITION:
Reinvestment Fund is seeking a Director, Risk Management to support and lead the implementation and execution of key initiatives associated with our strategic objective of strengthening and maturing our risk management program. Leveraging prior experience working within similar companies and/or industries will be key to informing and prioritizing key projects and initiatives for the Risk and Compliance function. 

This individual will partner with business leaders, department heads, and senior management to support risk-informed decision-making and advance organizational risk objectives. The Director will have the ability to work autonomously and within areas of ambiguity, work collaboratively with other internal stakeholders, and communicate with impact to add value and influence change across the organization. This is an opportunity to play a key role in advancing the organization’s risk management capabilities as we continue to grow and evolve. 

RESPONSIBILITIES:

Risk Program Governance & Enterprise Risk Management:

· Support the design, implementation, and continuous improvement of sustainable and adaptable risk management program elements, including governance, policies and procedures, training, metrics, monitoring, reporting, and risk assessment processes.

· Contribute to the development, implementation, and enhancement of enterprise risk management (ERM) frameworks, methodologies, and reporting processes that align with organizational objectives and regulatory expectations.

· Support the ongoing identification, assessment, monitoring, aggregation, and reporting of  key enterprise and operational risks, including the effectiveness of risk mitigation strategies and controls.

· Manage and enhance risk management programs, including vendor/third party risk management and other operational risk initiatives.  Partner with compliance stakeholders to assess and monitor risks associated with AML/OFAC and other regulatory compliance programs.

 Third-Party Risk Management & Operational Risk Oversight:

· Lead the Vendor Risk Management program, partnering with cross-functional stakeholders to conduct vendor due diligence, contract reviews, risk assessments, ongoing monitoring, and to identify, assess, and mitigate risks associated with third-party relationships.

· Design and implement improvements in risk communication, monitoring, reporting, and oversight processes to strengthen organizational awareness and accountability.

· Prepare and contribute to risk reports, dashboards, and presentations for senior management, executive leadership, and Board committees.

Risk Advisory & Business Partnership:

· Engage directly with business unit personnel as a trusted subject matter expert and business partner, to identify risk priorities and implement practical risk management solutions through advisory services, assessments, and strategic projects, while promoting risk-informed decision making. Cross functional collaboration between all three pillars in the Office of the COO (IT, Risk and Compliance, and Operations) is critical.

· Exercise sound judgement, professional skepticism, and ethical behavior when engaging with internal stakeholders, legal counsel, and/or external third parties and vendors.

· Articulate objectives, observations and recommended actions for remediation of noted gaps; build consensus among stakeholders and drive accountability for corrective action plans.

· Support assessments, reviews, and audits, acting as a liaison with the business to collect documentation, management response development, remediation tracking, and reporting.

· Other duties as assigned.

EDUCATION, EXPERIENCE AND SKILLS:
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Required Qualifications:

· Bachelor’s degree in Finance, Accounting or Business-related discipline, or equivalent experience.

· 7+ years of operating within a first- or second-line risk or compliance function.

· 5+ years of experience in the financial services industry.

· 3+ years of people, team, or project leadership

· Experience designing and implementing cross-functional processes while managing multiple concurrent projects.

· Experience managing or assessing risks related to AML/BSA/OFAC, third-party risk management, privacy, information security, data protection, and federal grants compliance.

· Demonstrated knowledge of enterprise risk management frameworks (e.g., COSO) and familiarity with leading business and IT control frameworks (e.g., CoBIT, NIST).

· Demonstrated knowledge of risk management process, internal controls, risk assessments and the three lines of defense model.

· Experience applying legal and regulatory requirements to business practices and identifying potential compliance gaps.

· Highly motivated self-starter with a strong sense of ownership and the ability to drive change through innovation.

· Demonstrated ability to build productive relationships across all levels of an organization and lead or contribute to initiatives that drive positive change.

Preferred Qualifications:

· Experience with controls testing methodologies, financial reporting controls, and IT management controls.

· Experience working with or within internal audit (third line of defense).

WORK LOCATION:

For this position, we will consider remote employees within the Eastern Time Zone, with a preference towards candidates in the Philadelphia, PA or Atlanta, GA areas to allow for occasional team-based face-to-face interactions. If a remote employee is ultimately selected for the position, travel will be occasionally required for staff meetings.

COMPENSATION AND BENEFITS:

Reinvestment Fund offers a competitive salary based on experience and skills, as well as an excellent benefits package including employer-paid health, disability, and life insurance, 401(k) savings plan with employer match, flexible spending accounts (medical, dependent care and transportation), tuition reimbursement, paid time off, and EAP program

The salary range for this position at commencement of employment is between $140,000 and $156,000/year, however, base pay offered may vary depending on multiple individualized factors, including market location, job-related knowledge, skills, and experience. 

If hired, employee will be in an “at-will position” and the Company reserves the right to modify base salary (as well as any other discretionary payment or compensation program) at any time, including for reasons related to individual performance, Company or individual department/team performance, and market factors.

Reinvestment Fund uses E-Verify to validate all new hires' ability to legally work in the United States and all new hires may be subject to a background check.

Reinvestment Fund is an Equal Opportunity Employer. We do not discriminate in hiring or employment practices based on race, color, religion, gender, age, sexual orientation, marital or familial status, national origin, non-job-related disability, or status as a veteran. Reinvestment Fund is committed to belonging, culture and engagement throughout our organization and in our external investment practices.

Reinvestment Fund, Inc. has an affiliate, RF Impact Advisers, Inc. (“RFIA”) that is a state-registered investment adviser. In order to advance compliance with and prevent violations of federal and state securities laws and to avoid even the appearance of a conflict of interest, RFIA has adopted a Code of Ethics to govern certain conduct of its staff, including certain staff of Reinvestment Fund because Reinvestment Fund is an advisory affiliate of RFIA. As part of this Code of Ethics, there are specific personal reporting and other requirements and disclosures of personal financial and/or securities transactions information for certain individuals, and this reporting may extend to your household members.