Hybrid/Appalachia/Washington, DC

Chief Risk & Compliance Officer – Appalachian Community Capital

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Appalachian Community Capital seeks a strategic and experienced professional to serve as the organization’s first Chief Risk & Compliance Officer (CRCO). The CRCO will lead the development and execution of a robust compliance program, with an early focus on federal funding from the Environmental Protection Agency (EPA), and risk management strategies for the organization’s newly established and rapidly growing wholly owned subsidiary, the Green Bank for Rural America.

THE ORGANIZATION

Founded in 2013, Appalachian Community Capital (ACC) is a Community Development Financial Institution (CDFI) serving member CDFIs across the 13-state footprint of Appalachia with a mission to increase small business lending across this underserved 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. 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 launched the Green Bank for Rural America, a wholly owned non-profit subsidiary, to help rural areas gain the most benefit from the new energy economy. Rural communities have long been the heart of energy production in America, powering the growth of our nation. The Green Bank renews this legacy, working alongside communities to build resilient local economies and to create new opportunities for a prosperous future.

Backed by a landmark $500 million award from the United States EPA, the Green Bank makes targeted investments to connect rural communities with new financing sources. The initial award will help attract even more private capital, for an estimated $1.6 billion into 2,000 projects. This means 13,000 good jobs and a way to preserve the quality of life in rural communities, where local businesses and community leaders work together to help their communities thrive.

The Green Bank drives investment to community lenders as well as technical assistance to local leaders and workforce development partners. The Green Bank aspires to become a self-sustaining entity, ensuring rural communities can leverage the new energy economy to:

  1. Create good jobs that stay in rural communities, helping local communities thrive;
  2. Help families and businesses save, build wealth, and increase profitability, creating a more prosperous future; and
  3. Create healthier communities while preserving the quality of life in rural areas.

Visit Appalachian Community Capital and Green Bank for more information.

THE POSITION

The Chief Risk & 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 50-60 community lenders.

The CRCO will 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 ACC CEO and will work collaboratively with the President & CEO of the Green Bank, Daniel Wallace. ACC and the Green Bank will continue to build a team that reflects the diversity of the rural communities they serve.

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. 

KEY RESPONSIBILITIES

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. 
  • Develop Standard Operating Procedures (SOPs) across a range of topic areas.
  • Ensure compliance with the mandate of the Clean Communities Investment Accelerator competition as outlined in the agreement with the EPA. 
  • Stay abreast of changes in federal regulations and grant requirements, and proactively adapt compliance strategies as needed. 
  • Executive responsibility for the development and implementation of Quality Management Plan and supporting activities as defined by the EPA.

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. 

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.

QUALIFICATIONS

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 the operations and infrastructures that ensure robust compliance, risk management, and controls; experience with EPA and/or federal grants compliance preferred.
  • Demonstrated experience in designing and implementing compliance programs in complex organizational environments. 
  • Experience leading robust risk management plan that is highly responsive to investors’ inquiries; experience serving as a member of a leadership team to raise capital a plus. Extensive experience and credibility in community development finance and/or climate finance, demonstrated through leadership roles. 
  • Passion for driving economic and environmental change in underserved communities, with a keen interest in sustainable development and community empowerment.
  • 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. 
  • Excellent communication and interpersonal abilities, with the capacity to engage and influence stakeholders at all levels. 
  • Understanding of relevant federal regulations, including 2 CFR Part 200, the April 2024 updates, and OMB circulars, that govern grant-funded programs. 
  • Knowledge of the EPA’s Quality Management Plan (QMP) and Quality Assurance Project Plan (QAPP) standards preferred; knowledge of the Davis-Bacon and Build America Buy America Acts to support community lenders in managing and reporting on these Acts is a plus.
  • Bachelor’s degree in a relevant field; advanced degree preferred. 

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, within the range of $190K-$225K, and a full benefits package will be developed.  The position is remote. Regular travel is expected. 

Equal Opportunity Employer

ACC is an equal opportunity employer.  We encourage you to apply even if your experience is not a 100% match with the position.  We are looking for someone with relevant skills and experience, not a checklist that exactly matches the job description.  We celebrate diversity and are committed to creating an inclusive environment for all employees. 

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.

Application Process

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 Idehenm. Resume reviews begin immediately.