Head of Risk & Legal - Fair Access Banking

Description

Vast Bank is looking to hire a Head of Risk & Legal - Fair Access Banking.

Since February of 1982, we've been a financial institution that has served customers in Northeast Oklahoma and beyond. Our deep roots in the community and commitment to personal service have enabled us to grow alongside our customers, creating conveniences and solutions to fit unique problems and lifestyles. For over 40 years, we've built a legacy on personal service, flexibility, strength, and integrity.

Now, with bold leadership and a renewed commitment to customer-centricity, we're aiming higher for the next 40 years. New ideas, strong partnerships, and modern technology will accompany a winning culture to deliver more control and a surprisingly easy banking experience.

We're a company that believes in taking care of the people who make working here possible. In addition to competitive compensation, we offer a leading employee benefit package:

• Comprehensive benefits package & 401(k) match
• Professional development—opportunities for advancement!
• Tuition assistance
• Transit reimbursement
• Paid time off
• & more!

Summary Of Role

The Head of Risk & Legal – Fair Access Banking is responsible for designing, leading, and continuously improving the risk management framework for products and services aimed at improving access to banking for underserved or financially vulnerable customers. This role ensures that credit, operational, regulatory, and conduct risks are effectively identified, managed, and mitigated, while supporting the organization’s mission to deliver fair, sustainable, and inclusive financial products.

Major Duties and Responsibilities

• Define and own the end-to-end risk strategy for Fair Access Banking products, aligned with the organization’s overall risk appetite and US regulations.
• Establish and maintain a robust risk governance framework, including policies, controls, reporting, and escalation processes.
• Act as a key risk advisor to the Executive Team and Board, providing clear insight into risk exposures, trends, and trade-offs.
• Oversee credit risk frameworks for non-traditional or thin-file customers, including underwriting approaches, affordability assessments, and portfolio performance monitoring.
• Ensure risk models and decisioning frameworks appropriately balance access, fairness, and sustainability.
• Monitor portfolio performance, loss trends, and emerging risks, recommending timely corrective actions.
• Embed fair access principles into risk management, ensuring products and processes deliver good customer outcomes.
• Ensure compliance with Consumer Duty, Treating Customers Fairly (TCF), and other relevant conduct regulations.
• Identify and mitigate risks related to vulnerable customers, financial exclusion, and customer harm.
• Act as the senior risk lead for regulatory engagement related to Fair Access Banking products.
• Ensure ongoing compliance with relevant banking, consumer credit, and financial crime regulations.
• Support regulatory reviews, audits, and supervisory interactions, providing clear and credible risk oversight.
• Oversee operational risk frameworks, including incident management, root cause analysis, and control enhancements.
• Partner closely with Financial Crime teams to ensure proportionate controls for AML, fraud, and sanctions that do not unnecessarily restrict access.
• Ensure resilience across systems, third parties, and customer journeys.
• Build and lead a high-performing risk team with deep expertise in inclusive finance.
• Partner closely with Product, Data, Compliance, Operations, and Technology teams to enable safe product innovation.
• Foster a strong risk culture that encourages transparency, challenge, and accountability.
• Must comply with applicable laws and regulations, including but not limited to the Bank Secrecy Act, the Patriot Act, and the Office of Foreign Assets Control.

Experience

Fifteen+ years of risk and legal executive leadership experience in banking, fintech or financial services with at least some tenure in a top-tier firm. Significant legal, risk and compliance background from a top-tier firm across different products and lines of banking…