Role Overview for Chief Risk Officer with a Global Investment Bank – New York, NY
JRG Partners has been exclusively retained by a premier, tier-one global investment bank to identify a transformative and strategic Chief Risk Officer (CRO). This is a career-defining opportunity to lead the entire risk management function for a systemically important financial institution headquartered in the heart of the global financial markets, New York, NY. The successful candidate will be a key member of the executive leadership team, reporting directly to the Chief Executive Officer and the Board of Directors’ Risk Committee. You will be entrusted with the critical responsibility of shaping and safeguarding the firm’s future by architecting and implementing a forward-looking, robust, and agile enterprise-wide risk management framework.
In today’s increasingly complex and volatile global landscape, the role of the CRO has evolved beyond a traditional control function. We are seeking a visionary leader who can act as a strategic partner to the business, enabling sustainable growth while navigating a labyrinth of market, credit, operational, technological, and regulatory challenges. You will be responsible for embedding a strong culture of risk awareness and accountability throughout the organization, from the trading floor to the back office, across all geographies.
This role demands a unique blend of deep quantitative expertise, exceptional leadership acumen, regulatory savvy, and the executive presence to challenge and influence at the highest levels. You will oversee a large, global team of dedicated risk professionals and will be the ultimate authority on the firm’s risk appetite, ensuring it is in perfect alignment with the bank’s strategic objectives, capital adequacy, and shareholder expectations. This is not merely a role of oversight; it is a role of strategic foresight, shaping the bank’s resilience and competitive advantage for years to come.
Key Responsibilities of Chief Risk Officer with a Global Investment Bank – New York, NY
Enterprise Risk Management (ERM) Framework Leadership
Design, implement, and continuously enhance the bank’s global ERM framework. This includes establishing state-of-the-art risk governance structures, policies, procedures, and quantitative models to ensure a holistic and integrated approach to risk across all business lines and geographic regions.
Risk Appetite and Strategy
Define, articulate, and cascade the firm’s risk appetite statement. You will work closely with the Board and executive team to ensure the risk appetite is aligned with the overall business strategy, financial planning, and capital allocation processes.
Executive Leadership and Team Development
Provide exceptional leadership and direction to the global risk management organization. Attract, retain, and develop top-tier talent, fostering a culture of excellence, collaboration, intellectual curiosity, and constructive challenge. Serve as the Chair for key risk management committees.
Regulatory Engagement and Compliance
Act as the primary liaison with global regulators (including the Federal Reserve, SEC, FINRA, PRA, etc.) on all risk-related matters. Ensure the bank’s unwavering compliance with all applicable regulations, including capital adequacy and liquidity rules such as Basel III/IV, and stress testing requirements like CCAR/DFAST.
Credit Risk Management
Oversee the comprehensive management of credit risk across the firm’s portfolio. This includes setting credit policies, managing counterparty credit risk (CCR) for derivatives trading, overseeing underwriting standards for lending activities, and managing portfolio concentrations.
Market Risk Management
Direct the oversight of all market risks arising from the bank’s trading and investment activities. This involves monitoring VaR, stress testing trading portfolios, managing exposure to interest rate risk, foreign exchange volatility, and other market factors, and ensuring strict adherence to trading limits.
Operational and Resilience Risk Management
Lead the strategy for managing operational risks, including building resilience against threats from cybersecurity, technology failures, third-party dependencies, internal fraud, and business process disruptions. Enhance the firm’s business continuity and disaster recovery planning.
Liquidity Risk Oversight
Ensure the firm maintains a robust liquidity position. Oversee the management of the liquidity risk framework, including liquidity stress testing, contingency funding planning, and compliance with LCR and NSFR requirements.
Quantitative Analytics and Model Risk Management
Champion the use of advanced quantitative analytics, data science, and machine learning to improve risk identification and measurement. Oversee the firm’s model risk management program to ensure all models are properly validated, governed, and fit for purpose.
Strategic Reporting and Communication
Provide clear, concise, and insightful risk reporting to the CEO, the Board’s Risk Committee, and executive management. Effectively communicate the firm’s risk profile, emerging threats, and mitigation strategies to all key stakeholders.
Requirements for the Chief Risk Officer with a Global Investment Bank – New York, NY
Experience
A minimum of 20 years of progressive experience in risk management within a large, complex, and global financial institution, preferably a Global Systemically Important Bank (G-SIB). Proven track record in a senior leadership capacity (e.g., Deputy CRO, Head of Market/Credit Risk) is essential.
Education
An undergraduate degree in a quantitative discipline such as Finance, Economics, Statistics, or Engineering is required. An advanced degree (MBA, PhD, or a Master’s in Financial Engineering, Quantitative Finance, etc.) is strongly preferred.
Professional Certifications
Holding a professional designation such as the Financial Risk Manager (FRM) or Professional Risk Manager (PRM) is highly advantageous.
Technical Expertise
Possess deep, subject matter expertise across all major risk stripes, including credit risk, market risk, operational risk, liquidity risk, and model risk. A comprehensive understanding of complex financial products, capital markets, and investment banking operations is critical.
Regulatory Acumen
An encyclopedic knowledge of the global financial regulatory environment is mandatory. Must have direct and extensive experience interacting with U.S. and international regulators.
Leadership Qualities
Demonstrated ability to lead, inspire, and manage a large, diverse, and geographically dispersed team. Must possess exceptional executive presence, gravitas, and the ability to act as a credible and influential voice in executive and board-level discussions.
Communication Skills
World-class written and verbal communication skills. The ability to distill highly complex risk concepts into clear, actionable insights for a variety of audiences, from regulators to board members to business line leaders, is paramount.
Strategic Mindset
A forward-looking, strategic thinker who can anticipate future risks and opportunities. Must be able to balance the dual mandate of protecting the firm and enabling responsible business growth.
Benefits & Perks Offered
Our client is committed to rewarding its leaders with a comprehensive and highly competitive compensation and benefits package, designed to attract and retain the very best talent in the industry. The package includes:
Executive Compensation
A highly competitive base salary, a significant annual performance-based bonus, and a substantial long-term incentive plan (LTIP) comprised of equity and deferred cash awards.
Comprehensive Health & Wellness
Premier, comprehensive medical, dental, and vision insurance plans for you and your eligible dependents. Access to executive health programs, on-site wellness centers, and mental health support resources.
Retirement & Financial Planning
A generous 401(k) retirement plan with a substantial employer match, access to deferred compensation plans, and personalized financial planning services.
Work-Life Integration
A generous paid time off (PTO) policy, comprehensive parental leave, and other programs designed to support a healthy work-life balance for senior executives.
Professional Development
A dedicated budget for executive coaching, continuing education, and attendance at industry-leading conferences and forums to maintain your expertise and network.
Perquisites
A full executive relocation package if required, along with other C-suite level perquisites commensurate with a role of this seniority and importance.
How to Apply
JRG Partners is the exclusive search firm managing this prestigious mandate. Due to the confidential nature of this search, all inquiries and applications will be handled with the utmost discretion. Interested and qualified candidates are invited to submit their curriculum vitae for consideration.
To learn more about our expertise in this domain and to submit your application, please visit the JRG Partners’ Financial Services & Risk Management practice page. We look forward to connecting with the next generation of risk leadership.
