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Chief Risk Officer - Job Opportunity at Finance Authority of Maine

Augusta, US
Full-time
Executive
Posted: April 18, 2025
On-site
USD 140,000-180,000 per year

Benefits

Competitive executive compensation package
Full healthcare benefits
Retirement planning options
Professional development allowance
Executive leadership team membership
Strategic decision-making authority

Key Responsibilities

Lead enterprise-wide risk management strategy and implementation
Oversee Finance, Legal, and Risk Management departments with direct P&L responsibility
Direct control testing and internal audit processes to ensure regulatory compliance
Present financial performance and risk assessments to board of directors
Develop and execute comprehensive risk management frameworks across credit, market, and operational domains
Guide strategic organizational direction as part of executive leadership team

Requirements

Education

Four-year college degree minimum, preference for MBA, CPA, JD, or advanced degree in finance/risk management

Experience

Minimum 10 years in accounting, financial modeling, lending, investment, risk management and legal

Required Skills

Strategic thinking Leadership capabilities Financial analysis Risk management expertise Team management Communication skills Project management Problem-solving Organizational skills Computer proficiency

Certifications

MBA, CPA, or JD preferred
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Sauge AI Market Intelligence

Industry Trends

Financial institutions are increasingly prioritizing integrated risk management approaches due to evolving regulatory landscapes and market complexities The convergence of technology and risk management is driving demand for CROs with digital transformation experience ESG risk considerations are becoming central to executive risk management roles

Salary Evaluation

The offered salary range of $140,000-180,000 is competitive for a regional financial authority CRO role, though slightly below major metropolitan markets where similar positions command $180,000-250,000

Role Significance

Typically managing 15-25 professionals across finance, legal, and risk management functions
C-suite position with direct board access and strategic influence across enterprise operations

Key Projects

Enterprise Risk Management framework implementation Regulatory compliance program optimization Credit risk modeling and portfolio management Digital risk management transformation initiatives Board governance and reporting structures

Success Factors

Ability to balance regulatory compliance with business growth objectives Strong relationship building skills with board members and regulatory bodies Track record of implementing enterprise-wide risk frameworks Experience in public sector financial institutions Leadership capability in managing multi-disciplinary teams

Market Demand

High demand with moderate competition, particularly as financial institutions strengthen their risk management infrastructure post-pandemic

Important Skills

Critical Skills

Enterprise risk management expertise to navigate complex regulatory environment Strategic leadership capability for organizational development Financial acumen for portfolio management and risk assessment Communication skills for board and stakeholder management

Beneficial Skills

Public sector experience Economic development knowledge Digital transformation expertise Sustainability and ESG risk management

Unique Aspects

Rare opportunity to influence state-level financial policy and economic development
Combination of public sector stability with private sector financial complexity
Direct impact on state's economic growth through risk management decisions

Career Growth

Typical tenure in CRO role is 4-6 years before progression to broader executive positions

Potential Next Roles

CEO of regional financial institution Enterprise Risk Management consultant Board member Chief Operating Officer

Company Overview

Finance Authority of Maine

The Finance Authority of Maine is a quasi-governmental agency providing financial solutions for Maine's residents and businesses

Leading state-level financial authority with significant influence in regional economic development
Primary financial development organization for Maine with strong governmental relationships
Professional public sector environment with emphasis on strategic impact and public service
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