Navigating Global Transformation

Roles: Global Head of Audit Risk and Global Head of Credit Risk Review

Our client is a global business with operations in over 50 countries and over 500 billion in assets. As the financial services unit of a U.S.-based conglomerate, our client provides commercial lending and leasing in addition to a variety of financial services to support a broad set of businesses, primarily in the middle market industry. Our client is comprised of a number of divisions including Real Estate, Insurance, Energy Financial Services, Capital Aviation and Commercial Lending & Leasing.

Objective

Subsequent to being categorized as a SIFI (Significantly Important Financial Institution), the client was required to undertake a very large global transformation of its risk and controls functions globally. Charles Sterling was selected as a preferred executive search partner to help with finding key executives to run certain risk and audit operations globally. Both Audit Risk and Credit Risk have been a key area of focus for many large financial organizations, so we knew the challenge here would be finding a risk professional willing to transition into audit. As for Credit Risk, finding someone that had previously built a world-class Risk Review operation internationally would be crucial.

Strategy and Result

Knowing the competitive landscape for Audit Risk professionals was limited to those that had transitioned into this type of role within the past couple of years, we determined our best approach was to compliment a direct competitive approach with one that targeted Operational Risk professionals. Credit Risk Review was straight forward, with many direct competitors having well-established global operations. Both strategies in this case proved to be successful in finding a risk professional to transition into audit along with a veteran credit risk executive.