Chief Risk Officer (CRO)(m/f/d)
Fidor Bank (Fidor) is a pioneering German Digital Bank based in Munich and Berlin. It was established in 2010 with a focus on providing innovative technologically enabled banking services. The bank’s current sole shareholder, Groupe BPCE of France, has agreed the sale of Fidor to Ripplewood Holdings LLC (Ripplewood). Ripplewood is a leading financial sector specialist investor, based in the USA with a 25-year track record of successful investments across the globe. This transaction is expected to close during 2021..
Fidor’s current business is focussed on providing a fully digital banking experience to retail and SME customers in Germany. In addition, the bank has a strong market position in providing payment and transaction services to leading payment services providers and digital asset market participants.
With the guidance and support of Ripplewood, Fidor is launching a new strategic plan which aims to reposition the bank as a leading partner for digital asset market participants and Fintech firms across Europe. The key product capabilities of the bank would encompass the entire spectrum of banking services including payments, lending, and savings to both individuals and SME customers.
The CRO is critical to the Bank’s success and is a key partner to the CEO in the turn round strategy. They will have primary responsibility for building a pristine control environment within the Bank. The CRO’s primary duties include, but are not limited to:
- Setting of the risk appetite, risk tolerance, healthy risk culture and mitigation strategies
- Keeping updated on the latest technology changes, such as data analytics and artificial intelligence that can be applied to risk management
- Establish & maintain strong, transparent relationships with auditors and regulators
- Collaborate with business units and other functional teams to identify, measure, control and report on the Bank’s risk exposures, ensuring risks are managed within risk appetite and risk limits
- Ensure that systems and procedures are set up to recognise, identify, measure, monitor and control credit, market and operational risks incurred by the Bank
- Advise on risk management frameworks and the assessment and measurement of risk
- Monitor control processes for operational risk, market risk and credit risk
- Enhance/develop and recommend risk management policies to the Supervisory Board. These will be in three key areas:
- Credit, market and operational risk management
- Financial crime and compliance
- Regulatory risk management
- Implement these policies effectively, thus enabling the Bank’s growth strategy to occur in a controlled way.
- Working with the finance depart to ensure timely and accurate regulatory reporting.
They will be expected to have significant interaction with Fidor Management Board, and the Supervisory Board under the new shareholder.
The CRO will show good judgement and will have the ability to deal with the ambiguity prevalent within a turnaround situation. The CRO will be responsible for delivering an aspirational/world-class risk function and driving an appropriate risk culture across the Bank.
Team Management and Leadership
- Hold the primary role in appointing and developing finance professionals and succession planning within the finance function
Qualifications & Experience
- CFA, FRM or other professional qualifications preferred
- Risk Management experience within the banking sector at a senior strategic level is essential, with at least 15 years of banking experience
- CRO experience as the lead Risk Officer of a standalone/fully independent business in the Banking industry
- Evidence of excellence across the full remit of a CRO role with a comprehensive understanding of consumer credit and compliance
- Proven high levels of commercial acumen with excellent influencing and relationship building skills at senior levels are essential
- Experience as an ‚International Finance leader‘, adept at working with various cultures and environments
- Thorough knowledge of banking and financial instruments, credit and market risk, accounting rules and practices. Direct experience of capital markets desirable. Thorough knowledge of the latest Basel regulations and regulatory capital requirements
- Compelling communicator: adept at all forms of communication with a full range of internal and external stakeholders, and the ability to translate complex issues into fundamental concepts
- Assertiveness: Moves quickly and takes well-founded points-of-view on critical issues without being abrasive. Prepared to take a principled position to protect the Bank from unacceptable risks.
- Level-headed, polite: Able to implement significant change with a down-to-earth approach.
- Standards: must have high ethical standards, credibility and a commitment to best practices
- Hands-on: Ability to see the detail, as well as step back and see the bigger picture/strategic imperatives.
- Language Skills: Fluent in German and English.
- Thinking/Visioning: Able to adapt to a market or commercial context and identify the profit-maximising strategy.
- Exciting tasks in an innovative fintech company
- High influence on the organization of own work processes
- Outstanding development opportunities for personal further education
- Above-average, performance-adjusted compensation and targeted bonuses
- Modern app for lunch refund of up to 97,50 EUR per month
- FlexTime system for flexible working hours and independent scheduling
- Independent mobile work for more flexibility
- 30 days of paid annual leave
- Fidor Team Spirit – employee events, goal-oriented success strategies, shared visions and plans
- Transportation allowance for permanent employees
- Table soccer, fresh fruit, coffee and more
- Office located near the city center
If you think you are up to the challenge, we look forward to receiving your online application with your complete documents and your salary requirement.
Über Fidor Bank AG
Die FIDOR Bank AG ist eine in Deutschland lizensierte internet-basierte Direktbank sowie eine B2B-Bank für innovative Banking und Community Software-Lösungen. Privat- wie Geschäftskunden nutzen das Fidor Smart Girokonto mit seinen klassischen und innovativen Finanz-Apps als Erstbank-Verbindung. B2B-Partner der Bank profitieren über die Banking Middleware Fidor OS von neuartigen Funktionalitäten sowie eine Community Lösung für eine digital affine weltweite Zielgruppe. Die Refinanzierung von B2C und B2B Forderungen für Fintech Firmen und SME Factoring sind ein weiterer Schwerpunkt.
Die international mehrfach ausgezeichnete FIDOR Bank AG bietet ihre Angebote derzeit in Deutschland und UK an und baut ihr internationales Angebot weiter konsequent aus. Unter dem Motto „Mach diese Bank zu Deiner Bank“ bietet die Fidor Bank über eine Reihe von APIs einen einfachen und automatisierten Zugriff auf das Konto. Vor allen Dingen Geschäftskunden erkennen die Vorzüge dieser Vorgehensweise.