Chief Risk and Compliance Officer

Background

Appalachian Community Capital seeks a strategic and experienced professional to serve as the organization’s first Chief Risk and Compliance Officer (CRCO). The CRCO will lead the development and execution of risk management strategies and a comprehensive compliance program for the organization’s wholly-owned subsidiary, the Green Bank for Rural America.

THE ORGANIZATION                            

Appalachian Community Capital (ACC) is a Community Development Financial Institution (CDFI) serving member CDFIs across the 13-state footprint of Appalachia. ACC was founded in 2013 with a mission to increase small business lending across this undeserved and primarily rural region. By providing capital, capacity building, and innovative programming to its members, ACC catalyzes entrepreneurship, opportunity, and inclusive growth in diverse and distressed communities. ACC has 37 members which manage over $2 billion in total assets. ACC is led by its President and CEO (ACC CEO) and a Board of Directors composed of both ACC members and national leaders in development finance. Investors and supporters of ACC include: the Appalachian Regional Commission, US Treasury CDFI Fund, the Ford Foundation, Goldman Sachs, Bank of America, Truist, US Bank, Wells Fargo, Benedum Foundation, Dogwood Foundation, Mastercard Foundation, and many others.

ACC was recently selected to receive a $500 million Greenhouse Gas Reduction Fund (GGRF) Clean Communities Investment Accelerator (CCIA) award to catalyze green energy investments in low-income rural communities impacted by declines in the fossil fuel industry. This place-based start-up effort will be a hub for investment and technical assistance to community lenders, local leaders, and workforce development partners in coal, energy, underserved rural, and Tribal communities across the United States.

ACC is starting the Green Bank for Rural America, a wholly-owned non-profit subsidiary of ACC, to provide public and private capital that enables rural areas to gain the most benefit from the new energy economy.   The Green Bank will make investments, using the GGRF award, to connect rural communities to new sources of financing.  The award will help attract even more private capital for an estimated $1.6 billion into 2,000 diversified energy projects.   Beyond the GGRF award, the Green Bank aspires to become a self-sustaining entity to continue to provide financing for new energy investments to diversify the economy in targeted rural communities.

Summary

The Chief Risk and Compliance Officer (CRCO) will be instrumental in leading the development and execution of risk management strategies including a comprehensive compliance program for ACC’s federally funded initiative which includes managing and directing the allocation of $450 million in capitalization and technical assistance (TA) awards to approximately 50-70 community lenders. These awards are intended to finance projects that significantly reduce greenhouse gases and create new opportunities for a prosperous future in Appalachia, energy communities, and rural communities nationwide.

The CRCO will also play a pivotal role in ensuring adherence to federal programmatic requirements and statutory obligations, thereby safeguarding the integrity of program goals. The position will report to the President & Chief Executive Officer of ACC and will work collaboratively with the President & CEO of the Green Bank for Rural America.

This role requires a seasoned professional with extensive experience in public or private sector contracts management / compliance, community development finance and/or climate finance, strong leadership skills, and a proven record of accomplishment of managing large-scale public-private partnerships and teams of financial services professionals.

Responsibilities

Enterprise Risk Management Leadership

• Develop and execute an enterprise risk management framework and implementation plan aligned with program objectives and desired outcomes.
• Manage core internal functions related to risk management, including portfolio risk management and other enterprise risks, in close coordination with the Investments team.
• Manage and mitigate macroeconomic risks across the organization, including interest rate risk, climate risk, geographic concentration risk, among other key risks of the award.
• Executive responsibility for the development and implementation of Quality Management Plan and supporting activities as defined by the EPA

Compliance Management Leadership

• Lead the development and execution of a comprehensive compliance program for the federal grant initiative, including a program compliance framework to address programmatic and statutory requirements, procurement, cost-accounting, reporting, and oversight of subrecipients.
• Ensure compliance with the mandate of the Clean Communities Investment Accelerator competition as outlined in the agreement with the Environmental Protection Agency.
• Stay abreast of changes in federal regulations and grant requirements, and proactively adapt compliance strategies as needed.

Internal Organization Leadership

• Create and cultivate an internal culture of risk assessment, analytics, and management to ensure all business units understand and have the tools to effectively manage their team’s core risks.
• Cultivate a culture of compliance and ethics within the organization, promoting awareness and understanding of compliance obligations among staff members.

• Manage risk and compliance professionals; support their growth and development over time.

• Coordinate and communicate effectively with the ACC Board of Directors and GBRA Steering Committee, providing regular updates on internal policies, procedures, and progress.

Requirements

Successful candidates will bring a range of skills, experience, and attributes including:

• 10+ years of experience in program compliance or federal grant management,  including experience in a nonprofit or government setting.
• Experience in building and scaling new businesses or organizations, with a focus on operations and infrastructure to ensure robust risk management, compliance, and controls.
• Proven record of accomplishment of successfully managing large-scale public-private partnerships and teams of financial services professionals.
• Extensive experience and credibility in community development finance and/or climate finance, demonstrated through leadership roles.
• Thorough understanding of relevant federal regulations, including 2 CFR Part 200 and OMB circulars, and governing grant-funded programs.
• Demonstrated experience in designing and implementing compliance programs in complex organizational environments.
• Strong analytical and strategic thinking skills, with the ability to develop and implement effective risk management strategies.
• Strong leadership skills with a proven record of accomplishment managing and developing high-performing teams.
• Knowledge of Davis-Bacon and Related Acts, Build America Buy America, and Quality Management related to environmental data is preferred.
• Excellent communication and interpersonal abilities, with the capacity to engage and influence stakeholders at all levels.
• Passion for driving economic and environmental change in underserved communities, with a keen interest in sustainable development and community empowerment.
• Bachelor’s degree in a relevant field; advanced certification or degree preferred.

Compensation and Benefits

The CRCO position is a new position with ACC and is one of several new senior leadership positions for ACC and the Green Bank.  Salary will be commensurate with experience and a full benefits package will be developed.  The position will be hybrid and based in Washington, DC or other offices to be established in Appalachia.

How to Apply

To apply, upload a detailed resume and cover letter explaining qualifications and your interest in this leadership opportunity to our portal here.  For inquiries, contact Olive Idehen [email protected].  Resume reviews begin immediately.

EQUAL OPPORTUNITY EMPLOYER

ACC is committed to treat all its employees and candidates for employment with dignity and respect and to provide a workplace that is free from discrimination, whether that discrimination is based on race, color, religion, sex, national origin, disability, political affiliation, marital status, ages, sexual orientation, gender identity, pregnancy, or other non-merit factors. ACC is committed to diversity and inclusion, and our goal is to have a workforce that is representative of the communities we serve.