Chief Risk Officer, Square Financial Services

Block is one company built from many blocks, all united by the same purpose of economic empowerment. The blocks that form our foundational teams — People, Finance, Counsel, Hardware, Information Security, Platform Infrastructure Engineering, and more — provide support and guidance at the corporate level. They work across business groups and around the globe, spanning time zones and disciplines to develop inclusive People policies, forecast finances, give legal counsel, safeguard systems, nurture new initiatives, and more. Every challenge creates possibilities, and we need different perspectives to see them all. Bring yours to Block.

The Role

Square Financial Services, Inc. (the "Bank" or "SFS") was approved for an industrial bank charter by the Utah Department of Financial Services ("UDFI") and deposit insurance from the Federal Deposit Insurance Corporation ("FDIC") in March 2020. The Bank opened in March 2021 as a Utah corporation and has since been delivering on Block's mission of economic empowerment by helping small business owners and underserved communities across the United States. SFS is focused on providing lending service to small businesses and consumers on a nationwide basis. SFS also offers small business savings accounts and may also seek to raise FDIC insured deposits nationwide.

Square Financial Services has launched a search for a Chief Risk Officer ("CRO"). The successful candidate will be a highly experienced Utah-based executive who will report directly to the CEO with a direct line of communication to the Enterprise Risk and Compliance Committee (ERCC). The CRO will provide the Bank and its board with an independent, risk-focused perspective with respect to legacy products, processes and personnel.

This position must be based in the state of Utah. The position is eligible for Block's permanent work from home policy and we will provide relocation assistance to candidates open to relocating to Utah.

You Will

• Develop and maintain a comprehensive Enterprise Risk Framework and conduct periodic Enterprise Risk Assessments to identify and manage risks


• Partner with first-line business units to implement and embed risk and control frameworks within their operations, including providing guidance on risk assessment methodologies, control design, and self-assessment processes. Coach business leaders on their risk ownership responsibilities and ensure effective integration of the three lines of defense model.


• Monitor, assess and report on emerging risks including technological disruption, artificial intelligence/machine learning risks, and evolving regulatory landscapes. Develop mitigation strategies and integrate emerging risk considerations into the Enterprise Risk Framework and strategic planning processes.


• Oversee the Bank's capital and liquidity risk management frameworks, including stress testing, capital adequacy monitoring, and liquidity contingency planning.


• Develop a comprehensive Risk Appetite that identifies and monitors key risks and early warning signals that allows the Bank leadership and the Board to respond and prepare for negative conditions or events. The Risk appetite will require Board approval and monitoring by the ERCC on an ongoing basis.


• Conduct compliance responsibilities to ensure internal controls and compliance efforts are maintained on a daily basis. This will be accomplished by developing, recommending and maintaining policies, procedures and programs to reflect changes in law and regulations to minimize risk.


• Oversee the Bank's Business Continuity plan and regularly test their viability in a risk based approach.


• Oversee technology management to maintain current technology program including risk assessments, software changes, contingency planning, user access, incident response and cybersecurity assessment tools.


• Oversee the vendor management program including due diligence, ongoing monitoring of vendor performance. Specifically, ongoing monitoring of Block Inc owned processes and systems that the bank relies on across technology, fraud risks, operations.


• Coordinate internal compliance, audit and risk assessment matrix review and monitoring activities, including periodic review of departments. Specifically lead the Quality Assurance Program and Complaints Program over Bank products.


• Maintain the Model Risk Management Framework including oversee validation and provide "effective challenge" to the models and decisioning utilized by the Bank.


• Present status of the compliance, risk assessment program and information security program to bank management, Enterprise Risk and Compliance Committee and or Board on a regular basis.


• Participate or lead internal committees regarding enterprise risk, technology, operational and credit related risks


• Monitor audit exceptions and recommendations and the resulting response and follow to verify required corrective action has been implemented.


• Responsible for the Bank's Policy and Procedure Inventory, including coordinating annual review and updates with Policy Owners, as necessary.


• Work with business line managers to develop new or revisions to existing policies and procedures as new Bank products or services are offered, new lines of business are initiated or new regulatory requirements are published.


• Represent the Bank as appropriate in its relationships with regulators and auditors.

You Have

• 15+ years of professional experience, with 5+ in leadership. Exhibits progression throughout career with a proven track record.


• Excellent executive presence, leadership and communication skills. Ability to partner and influence cross-functionally.


• Demonstrated ability to work collaboratively across the Bank and parent company (Block), fostering alignment while maintaining appropriate risk independence.


• Experience working in banking and/or financial services


• Experience interacting and representing the company to external financial regulators


• Strong commercial acumen and experience

We're working to build a more inclusive economy where our customers have equal access to opportunity, and we strive to live by these same values in building our workplace. Block is an equal opportunity employer evaluating all employees and job applicants without regard to identity or any legally protected class. We will consider qualified applicants with arrest or conviction records for employment in accordance with state and local laws and "fair chance" ordinances.

We believe in being fair, and are committed to an inclusive interview experience, including providing reasonable accommodations to disabled applicants throughout the recruitment process. We encourage applicants to share any needed accommodations with their recruiter, who will treat these requests as confidentially as possible. Want to learn more about what we're doing to build a workplace that is fair and square? Check out our I+D page.

While there is no specific deadline to apply for this role, U.S. roles are typically open for an average of 55 days before being filled by a successful candidate. Please refer to the date listed at the top of this job page for when this role was first posted.