Head of Financial Risk

Job description

The Head of Financial Risk is responsible for the financial risk management framework in Itaú’s U.S. operations, including a Florida-based national bank and other designated banks, investment firms, asset management entities, and international units. This role ensures that financial risks are managed in accordance with applicable regulatory requirements, the governance of legal entities, the risk profile, internal policies, and head office guidelines.

Tasks and responsibilities

The position involves monitoring market risks, liquidity risks, capital adequacy, counterparty risks, credit risks, stress tests, and related financial risks. The Head of Financial Risk ensures that risks are identified, measured, monitored, escalated, and reported to senior management, the relevant committees, headquarters, and regulatory authorities, as appropriate.

• Oversee financial risk management for the units under the role’s responsibility, in accordance with regulatory expectations, the risk profile approved by the Executive Board, internal guidelines, and headquarters guidelines.
• Assessment, monitoring, and reporting of significant financial risks, including market risks, liquidity risks, capital risks, counterparty risks, credit risks, and concentration risks.
• Monitoring of liquidity, capital, stress tests, scenario analyses, limit monitoring, and escalation of violations, exceptions, control issues, or significant changes in the risk profile.
• Developing and maintaining methods, models, limits, controls, dashboards, KPIs, risk reports, committee materials, and regulatory reports related to financial risks.
• Oversee the preparation of the financial risk report and presentations for RALCO and other relevant committees to ensure that the materials are accurate, decision-oriented, and consistent with regulatory expectations.
• Support for regulatory reviews, regulatory inquiries, internal and external audits, and remedial measures related to financial risk management.
• Implementation of the relevant financial risk guidelines issued by headquarters, taking into account local regulatory requirements and the governance of legal entities.
• Coordinate with the relevant departments on site and the Risk Center to support effective risk governance and accountability.
• Managing the priorities, responsibilities, performance, documentation, and continuity of the financial risk team.
• Compliance with applicable laws, regulations, and internal policies, including BSA/AML/OFAC requirements, in coordination with Compliance, the Legal Department, and other control functions.

Requirements

• A degree in business administration, finance, economics, risk management, or a related field is required; a graduate degree is preferred.
• At least 10 years of experience in advanced risk management at banks, financial services firms, or other highly regulated financial institutions.
• Experience in financial risk management at a U.S. bank, national bank, foreign banking organization, broker-dealer, asset manager, or a similarly regulated institution is strongly preferred.
• In-depth knowledge of U.S. regulatory requirements in the