The ERM Risk Analytics Director is the hub for risk metrics and risk measurement for Enterprise Risk Management. Working closely with the Risk Officers, your analytics team and other ERM team members you are responsible managing the risk metrics program, including the metrics that are used in the Bank’s risk appetite statement and key risk indicator reporting. You both lead and support others in this role as you are expected to understand the objectives of our business lines and assess whether the risk metrics that we have in place capture the types and amount of risk they take in the course of serving our clients. Working with your team, you conduct annual reviews of risk metrics and risk metric thresholds and make initial recommendations to the Risk Officers and CRO on how to adjust the existing metrics as well as facilitate the discussion of the addition or removal of metrics.
You are also responsible for ensuring that the Bank’s Risk Inventory, which is the backbone to key risk reports and a primary tool for assessing levels of risk across the Bank, is maintained through means such as facilitation of risk identification workshops, in depth risk analysis and attestations.
The ERM Risk Analytics Director collaborates with other members of the ERM team, including the Archer development team and the Risk Officers in performing a variety risk and data analysis projects. These projects vary in size and scope as well as in the ultimate audience.
Risk Metrics Program
Manage the risk metrics program. This includes maintaining the risk metrics inventory, continuous monitoring of the risk metrics to ensure they are relevant, accurate, complete and presented timely to various risk constituents.
Coordinate with the Risk Officers and other first line risk partners on updating risk appetite statement metrics. Ensure that risk tolerance and appetite thresholds for all risk metrics (RAS and KRIs) are reviewed annually and justified with statistical analysis and management judgement.
Identify potential risk metrics to support monitoring of existing, new or emerging risks. Maintain these potential metrics in the risk metrics inventory and periodically review them with the Risk Officers and first line risk partners.
As the product owner of the Risk Analysis application in Archer, ensure it is up to date and functioning properly for end users and stakeholders. Define requirements for enhancements and perform associated User Acceptance Testing for releases.
Continue to evolve the methods for identifying and assessing risk across the core risk types in the ERM framework. This includes conducting the risk inventory workshops, analyzing external sources of information for application to First Republic, and coordinating with the Risk Officers and risk partners in the first line to identify and assess potential risk events.
Maintain the data in the Bank’s risk inventory ensuring completeness, consistency and accuracy at all times. Create simplified views of risk inventory for different audiences. Monitor risks in risk inventory to identify trends over time for potential concentrations, correlations or systemic risks.
Supervise analytics team and through the team manage the delivery of risk analytic projects/assignments, including but not limited to researching causes of risk appetite or key risk indicator breaches, exploring potential new risks including concentration risk. Working directly with the Risk Officers, perform analysis to support risk conclusions. Assist in developing ongoing analytic routines as directed by the Risk Officers.
Data Integrity and Data Access
Work closely with Bank’s Enterprise Data team as the ERM Data Champion to ensure data integrity in all uses.
Act as an ERM point person for accessing data. Obtain direct access to the bank's data to enable the independent review by ERM and support the Risk Officers and other ERM analysts in their data analysis.
Tools and Archer development
Working with the Archer team, develop automated data use/extracts for risk analysis, visualization and reporting. Continue to challenge your team to find ways to leverage the data in Archer as well as the functionality to further automate ERM processes and find maximum use for Archer data.
Stay abreast of industry trends for risk analytics and tools.
Secondary support for risk dashboards
Provide support to Risk Officers, ERM Program Management Director and others who produce risk dashboards and other reports that are presented to senior management and the board of directors.
Respond quickly to ad hoc analysis requests from CRO, Risk Officers, other firm executives and regulators. Contribute to special projects as needed.
Skills, Knowledge and Abilities