The Head of Financial Risk is responsible for the financial risk management framework across Itaú’s U.S. Operations, including a Florida-based national bank, and other designated banking, securities, asset management, and international entities. The role ensures financial risks are managed in accordance with applicable regulatory expectations, legal entity governance, risk appetite, internal policies, and Head Office guidelines.
Position Summary
This position provides oversight of market risk, liquidity risk, capital adequacy, counterparty risk, credit risk, stress testing, and related financial risks. The Head of Financial Risk ensures exposures are identified, measured, monitored, escalated, and reported to senior management, applicable committees, Head Office, and regulators, as appropriate.
Duties & Responsibilities
- Lead the financial risk management framework for the entities under the role’s responsibility, in accordance with regulatory expectations, Board-approved risk appetite, internal policies, and Head Office guidelines.
- Assess, monitor, and report material financial risks, including market, liquidity, capital, counterparty, credit, and concentration risks.
- Oversee liquidity, capital, stress testing, scenario analysis, limit monitoring, and escalation of breaches, exceptions, control issues, or material changes in the risk profile.
- Develop and maintain methodologies, models, limits, controls, dashboards, KPIs, risk reports, committee materials, and regulatory reporting related to financial risk.
- Lead financial risk reporting and presentations to RALCO and other applicable committees, ensuring materials are accurate, decision-oriented, and aligned with regulatory expectations.
- Support regulatory examinations, supervisory inquiries, internal and external audits, and remediation activities related to financial risk management.
- Implement relevant Head Office financial risk guidance while ensuring alignment with local regulatory requirements and legal entity governance.
- Coordinate with applicable areas locally, and Head Office Risk to support effective risk governance and accountability.
- Manage the Financial Risk team’s priorities, deliverables, performance, documentation, and continuity.
- Comply with applicable laws, regulations, and internal policies, including BSA/AML/OFAC requirements, in coordination with Compliance, Legal, and other control functions.
Qualifications
- Bachelor’s degree in Business Administration, Finance, Economics, Risk Management, or a related field required; graduate degree preferred.
- Minimum of 10 years of progressive risk management experience in banking, financial services, or another highly regulated financial institution.
- Experience managing financial risk in a U.S. bank, national bank, foreign banking organization, broker-dealer, asset manager, or similarly regulated institution strongly preferred.
- Strong knowledge of U.S. regulatory expectations related to capital, liquidity, stress testing, risk appetite, governance, and supervisory reporting.
- CFA, FRM, PRM, or comparable professional certification, as well as data analytics or reporting automation skills, are desirable.
- Strong leadership, communication, and judgment, with demonstrated ability to manage teams, regulators, auditors, priorities, and cross-functional deliverables.
- Fluency in English required; Portuguese and/or Spanish desirable.