Head of Risk Management & Audit

Enterprise Risk Management Specialist
Mayo Employees Federal Credit Union (MEFCU) is looking for someone who has a passion for identifying and mitigating risk, a knack for creating partnerships throughout the organization, and a desire to provide the highest-level of service to our members to join our team as an Enterprise Risk Management (ERM) Specialist!
Mayo Employees Federal Credit Union provides competitive products and world-class service to Mayo Clinic employees and their families in reaching their financial goals. Mayo Employees Federal Credit Union has been awarded multiple top honors through Rochester Post Bulletin's annual "Best of the Best" Awards including "Best Credit Union" for six years in a row as well as "Best Place to Work" in 2025.
Department: Risk Management & Compliance
Days of Work: Monday - Friday 8 AM - 5 PM; occasional Saturday morning hours (approx. 32 - $35 per hour based on experience
Schedule: Full time
Remote Worker: No - This position requires the candidate to report in-person to an office daily in Rochester, MN.
The Enterprise Risk Management (ERM) Specialist performs and aligns risk assessments with business units and functional objectives to promote a culture focused on risk from both an operating and strategic perspective. They participate in the identification and assessment of enterprise risks to include strategic, operational, and key initiative risks. They work with business units and project teams to develop action plans to manage and mitigate these risks. The ERM Specialist monitors mitigation plans to ensure risks are maintained at an acceptable level. Secondary responsibilities include vendor management, disaster recovery, fraud management and mitigation. The Enterprise Risk Management Specialist reports directly to the Director of Enterprise Risk Management. They also work collaboratively with other credit union staff, auditors and outside vendors.
Develops plans to manage and mitigate risk:

Collaborates with all business and support departments to ensure effective risk identification, assessment, and mitigation.
Completes risk assessments to identify operational risk, emerging risk or any exposure related to compliance, governance or ineffective controls.
Identifies, measures, and assesses risk associated with third-party vendor relationships as needed.
collections, accounting, plastic cards) in the timely identification, management and enforcement of procedures for at-risk accounts and ensures timely resolution of fraud incidents.
Assists with fraud claim processing, case filings and works with authorities and credit union members as required.
Reviews and documents unusual activity related to wires, unauthorized activity and potential identity theft.
Assists in handling outreach from members regarding fraud and identity theft, providing accurate and professional assistance.
Promotes a culture of risk awareness across the credit union.
Maintains and manages ERM document storage and compliance:

Maintains ERM documents and policy changes, periodic core data updates (financial data, external factors, policy, vendors, etc.), risk matrix audits, etc.
Provides clear, applicable, and accurate reports for management.
Ensures relationship managers maintain appropriate documents, perform required duties to include due diligence and contract agreements, and ensure compliance.
Takes lead role in deposit and loan account fraud prevention and detection programs.
Works closely with the Director of ERM in maintaining the Disaster Recovery and Business Continuity policy and leads across functional areas for annual tabletop testing.
Analyzes data and monitoring reports from loss defense systems to determine program effectiveness and to reduce loss exposure; A Bachelor's degree AND two years of experience performing compliance, fraud or IT security functions in a financial institution.
ERM-related certification or desire to obtain.
All employees must be bondable by MEFCU's insurance policy. Knowledge of: various functional areas of financial institutions and their interrelationships; Enterprise Risk Management concepts, application methods and program elements; business continuity, disaster recovery, fraud mitigation, regulatory requirements, and procedures necessary; financial industry standards and regulations.
partnering and coordinating with executive and director level positions.
Ability to: to work cross-functionally throughout all business segments as related to effective business recovery requirements/testing and risk prevention strategies; communicate and translate complex information to all levels of the organization both verbally and in writing.
Physical and Environmental Criteria
The majority of this position involves computer work, which requires fine dexterity in the continuous movement of the wrist and fingers.
Sensory requirements necessary in the performance of the essential functions of this position include: sight, hearing, touch.
Environmental conditions that may exist in the performance of the essential functions of this job include: None.
Why Mayo Employees Federal Credit Union?
The Mayo Employees Federal Credit Union offers fantastic benefits, including:

• Affordable Medical Plans
• Six Paid Holidays and Generous Accrued Paid Time Off Plan
• Employer-Paid Life and AD&D Insurance (additional voluntary coverage is available for employee purchase too!)
• Employer-Paid Short and Long-Term Disability Insurance
• Employer-Paid Health Reimbursement Account or Health Savings Account contribution
• Flexible Spending Accounts
• Employee Assistance Program