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Purpose of Job The EVP, Chief Risk Officer is the senior officer
responsible for leading the corporate risk function at USAA and
strategy for overseeing the risk of the enterprise, providing
counsel to the board of directors, chief executive officer, and
senior management. This executive is a member of USAA’s Executive
Council. This executive is accountable for establishing a sound
risk governance framework, standards, capabilities and execution of
a proactive risk strategy across all of USAA’s lines of business
including banking, insurance and wealth management. The executive
is accountable for providing effective oversight of the company’s
consolidated enterprise risk profile including financial as well as
non-financial risks and ensuring appropriate resourcing and
infrastructure to support the mandate of the function. Job
Requirements Managerial Responsibilities
Serves as a member of the Firm’s Executive Council (EC):
Implements the firm’s strategy and risk tolerance approved by
USAA’s board of directors.
Ensures safety and soundness and compliance with internal
policies and procedures, laws and regulations, including those
related to consumer protection.
Maintains and implements an effective risk management framework
and ensures a firm appropriately manages risk consistent with its
strategy and risk tolerance.
Manages day-to-day operations of a large financial company.
Ensures effective communication and information sharing across
USAA (and in particular, the risk function).
Provides timely, useful, and accurate information to the board
Responds to direction from and information needs of USAA’s board
Ensures resolution of risk management issues (including those
identified by the firm and outstanding supervisory matters),
escalating issues to the board, and communicating issues
In addition, serves as leader to the risk function which
Leads design and execution of USAA’s risk strategy, taking into
account USAA’s business strategy and complex regulations and
nuanced supervisory expectations, including how they apply in a
matrixed commercial environment.
Role models USAA’s mission, core values, culture and desired
behaviors – including a culture of risk awareness and
Develops talent in the risk function to deliver performance and
results – including the identification, development and retention
of talent with requisite risk capabilities as well as providing
leadership and overseeing performance management and staff
Supervises and drives operational strategy and planning of the
risk function – including risk processes and technologies.
Oversees funding, budgeting and execution of risk initiatives
and projects across the USAA’s core businesses and legal
Holds self and others accountable to meet commitments by setting
and clearly communicating expectations and roles and
Technical and Risk Responsibilities
Establishes and maintains a 2nd line of defense that is
appropriate for the size, complexity, and risk profile of USAA.
Leads the 2nd line of defense in identifying and assessing the
enterprise’s risk profile relative to its established risk
appetite, monitoring compliance with enterprise-wide risk limits,
and providing timely, relevant risk information to senior
management and the board of directors.
Escalates issues to senior management and the board of directors
when activities or practices at the enterprise, risk-specific, and
business-line level do not align with the enterprise’s overall risk
Supports the independence of the 2nd line of defense from
business lines by establishing clearly defined roles and
responsibilities, and reporting lines.
Provides leadership and guidance to the enterprise’s core risk
capabilities and programs, including related to risk associated
with all CoSA activities, including P&C, FSB, USB, FASG, as
well as activities associated with enterprise risk management,
establishing and applying risk limits, CRO strategy and planning,
enterprise compliance, be a compliance company program, and
enterprise regulatory affairs.
Partners with Compliance and Legal on regulatory matters as they
impact the enterprise, as well as information requests regarding
compliance and regulatory filings.
Serves as point of contact for federal and state regulatory
agencies for legal matters as they impact the enterprise.
Serves as the senior-most authority on technical risk concepts
across all risk stripes (financial and non-financial risks).
Interacts with or participates in enterprise governance
committees, such as:
Education & Experience
Bachelor’s degree is required
Advanced degree such as MBA or JD is preferred .
A minimum of 20 years of experience in technical discipline
(e.g. Risk) with a proven track record leading comparable
operations and programs (e.g. ERM, stress testing, reporting etc.)
through changing market cycles is required.
A minimum of 15 years of people leadership experience in
building, managing and/or developing high-performing teams is
A minimum of 15 years of relevant experience in a large
financial institution ($100 billion +), including 5+ years
post-Dodd Frank, in a senior role within a risk function (e.g. an
enterprise risk role) is required.
Additional Knowledge Sets &/or Certifications
Demonstrated understanding of the full spectrum of regulatory
actions, including examinations and other supervisory engagement
and processes, such as:
Home Owners’ Loan Act
Fair Lending laws
Texas Insurance Code
New York Insurance Law
Federal regulations and supervisory guidance:
12 CFR Part 238 (Regulation LL)
12 CFR Part 252 (Regulation YY)
12 CFR Part 223 (Regulation W)
12 CFR Part 30, including Appendices A through E
12 CFR 9 - Bank Fiduciary Activities
12 CFR 25 -- Community Reinvestment Act
12 CFR Part 46 (Annual Stress Test)
Federal Reserve Supervisory Guidance Documents:
SR 12-17 ( Consolidated Supervision Framework for Large
Financial Institutions )
SR 08-08 (Compliance Risk Management Programs)
SR 14-9 ( Incorporation of Federal Reserve Policies into the
Savings and Loan Holding Company Supervision Program and related
applicable guidance )
Bank Holding Company Examination Manual
Federal Reserve proposals concerning Board effectiveness and
core principles of effective senior management, management of
business lines, and independent risk management and controls
OCC Supervisory Guidance Documents: Large Bank Supervision
Handbook; Corporate and Risk Governance Handbook; and key OCC
bulletins (Model Risk Governance; Model Risk Management; New
Products and Services Risk Management; Third Party Risk
FFIEC: BSA/AML Manual; IT/Cyber Handbooks
CFPB: Consumer Protection Regulations; UDAAP
*Regulatory understanding is for illustrative purposes. Roles
would need an understanding of all federal and state laws and
regulatory guidance applicable to the organization and
responsibilities of the role.
Note: The above statements are intended to describe the general
nature and level of work being performed by employees in this
position. They are not intended to be an exhaustive list of all
duties, responsibilities and qualifications of employees assigned
Industry certifications are preferred.
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USAA is an equal opportunity and affirmative action employer and
gives consideration for employment to qualified applicants without
regard to race, color, religion, sex, national origin, age,
disability, genetic information, sexual orientation, gender
identity or expression, pregnancy, veteran status or any other
legally protected characteristic. If you'd like more information
about your EEO rights as an applicant under the law, click here for
English / Spanish . For USAA’s Affirmative Action and EEO
statement, please click here . Furthermore, USAA makes hiring
decisions compliant with the Fair Chance Initiative for Hiring
Ordinance (LAMC 189.00).
USAA provides equal opportunity to qualified individuals with
disabilities and disabled veterans. If you need a reasonable
accommodation, please email HumanResources@usaa.com or call
1-800-210-USAA and select option 3 for assistance.