Chief Risk Officer (CRO)

Together we fight for everyone’s opportunity for a better financial future.

We will do this together — with customers, partners and colleagues. We will fight for others, not against: We will stand up for and champion everyone’s access to opportunities. The status quo is not good enough … we believe every individual and every community deserves access to financial opportunities. We are determined to support both individuals and communities in reaching a better financial future.  We know that reaching this future depends on our actions today.

Like our Purpose Statement, Voya believes in being bold and committed to action.  We are committed to a work environment where the differences that we are born with — and those we acquire throughout our lives — are understood, valued and intentionally pursued. We believe that our employees own our culture and have a responsibility to foster an environment where we all feel comfortable bringing our whole selves to work. Purposefully bringing our differences together to positively influence our culture, serve our clients and enrich our communities is essential to our vision.

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Voya's Chief Risk Officer (CRO) will be the senior executive responsible for overseeing and managing the risk management function for the organization. The CRO responsibilities include working with the Board of Directors and senior management to establish and manage enterprise risk assumptions and frameworks across all risk dimensions consistent with the company’s strategic goals.  This includes playing a critical role in identifying, assessing, and mitigating risks that could impact Voya's financial stability, reputation, and compliance with regulatory requirements. Voya's CRO must possess a deep understanding of the financial services industry, risk management principles, and the ability to develop and implement effective risk management strategies that align with Voya's acceptable calculated risk standards.

The CRO will work closely with the Executive Committee, Executive Leadership Team and the Board of Directors to ensure alignment of the organization’s risk management strategies with the Board Risk Committee Charter. By leading the development and implementation of comprehensive scenario planning, the CRO will ensure that potential risks are identified, assessed, and mitigated effectively. These risk categories will include but are not limited to Enterprise Risk, Financial Risk, Risk Appetite development and monitoring, Business Continuity and Resilience along risk areas that are critical to Voya. This proactive approach not only enhances organizational resilience but also supports the Board Risk Committee in fulfilling its mandate to oversee risk management practices.

The Chief Risk Officer will be responsible for the leadership of a team of almost 50 associates spread across three key direct reports. This executive will have ultimate accountability for a variety of risk functions including all Operational Risk, Business Risk, Balance Sheet Risk, Underwriting Risk and Technology Risk for Voya.  S/he must work to assess and improve the group’s approach to all aspects of Enterprise Risk from policy through processes and controls to monitor how those risks are being managed in various business areas.

Key Responsibilities

• Providing oversight of Enterprise-Wide Risk which establishes a framework Risk and Control Self - Assessment program, Risk Assessment, Risk Appetite Statement and related Metrics, Model Risk Management program, risk awareness training, review of new products or services, as well as participation in key regulatory initiatives.
• Working with Executive Leaders around the organization to set the strategic risk management vision and drive that strategy throughout the company by leveraging one’s own leadership and influencing skills, and through forging a strong network of internal and external alliances.
• Evolve and implement risk mitigation strategies, policies, and procedures to minimize the company's exposure to identified risks.
• Lead the development and implementation of comprehensive scenario planning strategies to identify, assess, and mitigate potential risks, ensuring organizational resilience and preparedness for various future scenarios.
• Building effective, collaborative relationships with senior leadership and the Board of Directors and establishing Enterprise Risk as a true partner with business units while improving processes and limiting customer impact that could hinder business performance
• Ensure compliance with appl