About Blue Foundry Bank

This is the Bank Where Things are Made. Blue Foundry is a bank where businesses are shaped, plans are formed, ideas are refined, solutions are built, and stuff gets done. Blue Foundry is revolutionary, bold, resourceful, roll-up-your-sleeves committed, smart, creative, and fun. A Bank of movers, shakers, and makers…We are a Bank that Gets Things Done.

At Blue Foundry Bank we invest in the well-being of our most prized asset…our employees! We provide a robust array of programs and benefits to help employees advance their careers and enhance the quality of their lives. Our experiential learning and development program ensures employees are on track to grow their career as of day one.

In addition, our comprehensive compensation package includes; medical, dental, and vision coverage; life insurance, short- and long-term disability insurance; 401(k)/Roth with company match up to 5%; paid time off, and 11 paid holidays; employee referral bonus; and educational reimbursement.

Position Summary

The Chief Risk Officer (CRO) is responsible for managing and mitigating the bank’s overall risk profile through an Enterprise Risk Management framework, addressing credit, market, operational, liquidity, capital, compliance, and reputational risks.

Reporting to the CEO and liaising with the Board of Directors as the representative to the Board ERM Committee, the CRO oversees several key positions, including the Chief Credit Officer, Chief Information Security Officer, Director of Compliance/BSA/AML Officer, Fraud Officer, ILR Manager, and Compliance & Third-Party Risk Manager.

The CRO collaborates with department executives on risk-related issues, playing a crucial and visible role in the leadership team to ensure the bank meets its financial and operational goals while effectively managing risks.

Primary Responsibilities

• Advise the CEO on critical issues in enterprise risk management in order to safeguard and advance the bank’s strategic initiatives.

• Advise and collaborate with business line and administrative leaders to ensure proactive risk and compliance management in the operations of their areas.

• Provide for and lead an enterprise-wide risk management program at the forefront of regulatory requirements and guidelines and in direct support of the Bank’s strategic plan.

• Directly supports the Board ERM Committee, prepares and presents the Quarterly Board ERM Risk Assessment as well as facilitates ERM Policy requirements for Board approval.

• Direct programs and initiatives, and guide policy and procedure creation leading to strict consumer compliance across lending and deposit business lines and administrative departments.

• Administer a program of ongoing internal compliance reviews, consultations and remedial actions, regularly reporting results to senior management.

• Oversee the Credit Risk Management area, including credit policy, underwriting, credit risk, loan review and asset recovery.

• Oversee the Chief Information Security Officer and IRM Subcommittee along with membership on the IT Steering Committee.

• Direct the BSA/AML unit and program. Supervise and collaborate with the BSA Officer in in providing comprehensive and timely case management, investigation and remediation; CTR and SAR filing; customer due diligence and enhanced due diligence; business line training and support, and upstream management and regulatory reporting.

• Oversee the management of the Compliance Officer, the Compliance Program, the Bank’s Compliance Consulting vendor, attending the Compliance Committee and CRA Committee, oversee development and maintenance of a Compliance Training program, and assuring compliance for implementations of new products, services, systems and regulations.

Additional Responsibilities

• Ensure that analysts are current in training and expertise and that customer facing employees are fully versed and functioning in their BSA/AML responsibilities.

• Support and assist the vendor management program bank-wide.

• Receive all notifications of agency exams and prepare thoroughly for site visits, providing timely support to examiners at all stages of the exam process. Coordinate gathering and presentation of requested documents and present the bank’s responses, in consultation with the CFO and CEO, before, during and after each examination.

• Plan and Track responses to findings and recommendation through matrices, or any format required or recommended by the agencies. Ensure that repeat findings do not occur.

• Report to the CEO, senior management, and the Board at regular intervals and at prescribed times, along with multiple committee and management group responsibilities.

• Provide sound, supportive and collaborative leadership for the compliance, CRA, credit, CISO & risk management departments. Hire, develop and cultivate a talented and motivated team of experts. Use the processes and programs in place to evaluate performance, develop new skills and capabilities and to improve deficiencies.

• As a member of the executive team, must work from the corporate office at least 4 days a week and must be present for Board meetings (once a month) even if not presenting.

Position Requirements

• 15+ years of experience in bank financial management with at least 5 years in a senior leadership capacity. BA/BS required, and an MBA or advanced degree preferred.

• Strategic mindset combined with outstanding hands-on technical proficiency in Credit Risk and Enterprise Risk Management.

• Excellent communication skills with both internal and external stakeholders, and a willingness to share information while working collaboratively as a key member of the leadership team. Must have the ability to translate financial data to a non-financial audience.

• Mature leadership skills that emphasize a progressive, collaborative, energetic, and service-oriented environment. Must have a track record and methodology for building high-performing teams.

• Strong interpersonal skills, so as to effectively interact with all levels in the organization and externally including fellow senior executives, external advisors, Directors, Board Committee(s), regulators and other outside parties.

• High level of personal ethics and integrity.

• Familiarity with key risk related systems/applications (i.e. Fiserv, Abrigo, WolfPac, Verafin, etc)

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, LGBTQ, national origin, disability or protected veteran status.

Come join the Blue Crew community and be part of our success!