Chief Risk Officer

Hiring Salary Range: $250,000-$325,000

Compensation is determined by a combination of factors, including but not limited to education, work experience, and certifications. The actual offer may vary, reflecting the candidate's unique blend of experience, educational background, and skill level.

The Impact you will make in this Role:
The Vice President and Chief Risk Officer (CRO) is a key executive responsible for overseeing Dairyland Power Cooperative's enterprise risk management framework, including governance of hedging strategies. The CRO ensures effective management of energy market, commodity, interest rate, and other financial risks within Board-approved limits, while providing independent oversight, clear insights, and regular reporting to the Board and leadership. This role requires utility industry expertise, knowledge of cooperative principles, and collaboration across departments to foster a disciplined risk culture and informed decision-making.

ESSENTIAL JOB FUNCTIONS:

Risk Management Strategy:
•    Develop and implement a comprehensive enterprise risk management (ERM) framework tailored to the unique needs of a utility cooperative.
•    Establish risk management policies, procedures, and metrics to monitor and control risks across the organization.
•    Align risk management practices with the cooperative’s strategic objectives and operational goals.
 

Risk Identification, Assessment, and Mitigation:
•    Identify and assess risks related to market volatility, regulatory compliance, cybersecurity, physical infrastructure, environmental factors, and other operational or strategic areas.
•    Collaborate with departments to evaluate risks, prioritize them based on impact and likelihood, and develop mitigation strategies.
•    Oversee the development and execution of business continuity and disaster recovery plans.
 

Regulatory Compliance and Governance:
•    Ensure compliance with federal, state, and local regulations governing the energy and utility sector, including NERC, FERC, and other applicable standards.
•    Serve as the primary advisor to the CEO, Board of Directors, and senior leadership on risk-related matters, providing regular updates and analysis.
•    Work closely with legal and compliance teams to monitor legislative and regulatory changes that may impact the Cooperative.
 

Cybersecurity and Technology Risk:
•    Collaborate with IT leadership to assess and mitigate cybersecurity risks, including data breaches, ransomware attacks, and other emerging threats.
•    Stay informed on advancements in technology and their implications for the Cooperative's risk profile.
 

Financial Risk Management:
•    Work with the CFO to monitor financial risks such as liquidity, credit, market risks, and fuel or power purchase agreements.
•    Support the development of risk-adjusted financial models to guide decision-making.
 

Culture and Stakeholder Engagement:
•    Promote a culture of risk awareness and accountability throughout the cooperative.
•    Provide training and resources to employees to strengthen their understanding of risk management practices.
•    Act as a liaison with external stakeholders, including auditors, insurers, and regulatory bodies, on risk-related matters.
 

Reporting and Communication:
•    Develop and present risk reports to the Board of Directors, CEO, and senior leadership.
•    Communicate risk exposures and mitigation plans clearly and effectively to internal and external stakeholders.
 

Hedging
•    Oversee the development, execution, and governance of enterprise hedging strategies to mitigate financial and operational risks, ensuring alignment with organizational risk appetite, financial objectives, and regulatory requirements.

•    Provide strategic oversight and independent risk challenge of hedging activities, including monitoring effectiveness, exposures, counterparty risk, and reporting results and recommendations to executive leadership and the Board.

Energy Markets and Risk

•    Oversee Dairyland’s metering and settlements processes and involvement in the energy and capacity markets. 

•    Provide strategic oversight of resource and energy contract assessment including risk analysis and impacts on Dairyland’s financial positions.

MINIMUM QUALIFICATIONS:
Education: Bachelor’s degree in Risk Management, Finance, Business Administration, or a related field is required. Master’s degree or relevant professional certifications (e.g., Certified Risk Manager (CRM), Chartered Enterprise Risk Analyst (CERA)) is preferred. Minimum of 12 years of experience in risk management, compliance, or a related field. Experience with energy trading preferred. Proven track record of designing and implementing enterprise risk management programs. Experience working within a cooperative or member-owned organization is a plus.

Skills and Competencies:
•    Strong knowledge of the utility industry, including regulatory and operational risks. 
•    Deep understanding of commodity markets (natural gas, power, renewables), financial instruments, and regulatory frameworks.
•    Exceptional analytical, problem-solving, and decision-making skills.
•    Excellent leadership and communication abilities, with the capability to interact effectively at all organizational levels.
•    Familiarity with risk management software and data analytics tools.
•    Strategic thinker with the ability to balance risk and opportunity.

Physical Demands: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. While performing the duties of this job, the employee is regularly required to talk or hear. The employee frequently is required to stand/sit; walk; use hands/fingers to handle or feel; and reach with hands and arms. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. 
 
Environmental Demands: The majority of time is performed in an office setting. Position will include some travel, including infrequent overnight stays.