EVP Chief Risk Officer at Devon Bank – Chicago, Illinois

At Devon Bank, we don’t just accept diversity—we celebrate it, we support it, and we thrive on it for the benefit of our employees, our customers and our community. We provide a welcoming culture that comes from our desire to make diversity, respect and service a priority.

The Executive Vice President, Chief Risk Officer is responsible for leading Devon Bank’s enterprise-wide risk management program. This role focuses on identifying, assessing, monitoring, and mitigating key risks such as operational, liquidity, compliance, strategic, and reputational while ensuring the bank remains safe, sound, and fully compliant with all applicable laws and regulations.

The primary responsibility of this position is the coordination, scheduling, and oversight of all external audits and regulatory examinations conducted by independent third parties (external auditors, FDIC or state regulators, etc.).

Essential Duties and Responsibilities

Risk Management & Governance

• Develop, implement, and maintain the Risk Management Framework, including risk policies, risk appetite statement, and risk reporting dashboards.
• Identify, measure, monitor, and report on all material risks across the organization.
• Facilitate the quarterly Risk Committee meetings and present risk reports to executive management and the Board of Directors.
• Oversee the Bank’s annual Enterprise Risk Assessment process.

External Audits & Regulatory Examinations

• Serve as the primary point of contact for all external audits and regulatory examinations.
• Develop and maintain the annual schedule of external audits and regulatory exams.
• Coordinate with external auditors, regulatory agencies, and internal departments to ensure timely and efficient completion of all examinations and audits.
• Manage the collection, review, and submission of all requested documentation and data to external parties.
• Track and monitor all findings, recommendations, and Matters Requiring Attention (MRAs) arising from external audits and exams.
• Ensure timely and complete responses to audit and examination reports, including corrective action plans.
• Verify that all follow-up items are properly remediated and documented.

Compliance & Regulatory Oversight

• Monitor regulatory changes and assess their impact on the bank’s risk profile and operations.
• Work closely with department heads to ensure ongoing compliance with federal and state banking regulations (including BSA/AML, CRA, fair lending, and consumer protection laws).
• Maintain and update the bank’s compliance risk assessment.

Reporting & Communication

• Prepare and deliver clear, concise risk management reports for the Audit Committee Board of Directors, senior management, and regulatory agencies as required.
• Collaborate with the Chief Financial Officer and external auditors on the annual financial statement audit coordination (risk-related portions only).

• 15+ years in risk management/compliance at a financial institution
• Minimum of a Bachelor’s degree; candidates with a Master’s degree are strongly preferred
• Ability to translate complex regulatory requirements into practical guidance
• Comprehensive understanding of financial services regulations, laws, and compliance frameworks
• Ability to build and maintain strong relationships with external auditors.

Pay Range and Benefits:

Base pay of $145,000 to $165,000 depending on experience

Life Insurance, short- and long-term disability fully paid by Devon Bank

Medical, Dental, and Vision coverage and 401k with employer match

EOE AA - Devon Bank is proud to be an Equal Employment Opportunity and Affirmative Action employer. We do not discriminate based upon race, religion, color, national origin, gender (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, age, status as a protected veteran, status as an individual with a disability, or other applicable legally protected characteristics.

If you need assistance or an accommodation due to a disability, you may contact us at HumanResources@devonbank.com or you may call us at (773)- 465-2500.