The Risk Manager controls the organization’s financial risk by employing various strategies to limit or offset the probability of a financial loss or exposure to financial uncertainty.
RISK MANAGER ESSENTIAL DUTIES AND RESPONSIBILITIES
- Design, implement, and manage an overall risk management plan that complies with customer, legal/regulatory, and the organization’s requirements, as well as those of standards bodies (e.g., IASB, FASB)
- Manage the process of identifying and assessing the risks affecting the business
- Educate and train leadership, staff, and business associates in the risk management program
- Oversee, and in some areas implement, the plan of risk control actions, such as:
- Purchase of insurance and other risk financing options
- Health and safety measures
- Liaison with regulators
- Business continuity plans
- Corporate and department level standards and procedures
- Collect and analyze data with appropriate risk reporting, internally and externally
- Manage claims and litigation; act as a liaison to insurance carriers and legal counsel
- Develop and implement systems, policies, and procedures for the identification, collection, retention and analysis of risk related and compliance information
Reports directly to the organization’s Finance Manager. Works in conjunction with Financial, Physical Security, and IT Security management to facilitate risk management.
The Risk Manager Job Description is mentioned in the following procedures:
Procedure ID and Name
Policies & Procedures Manual
|AC1020 Risk Assessment||Finance|
|AC1030 Risk Management||Finance|
RISK MANAGER QUALIFICATIONS
A bachelor’s degree in accounting or finance is required. Advanced training in risk analysis and management is also required, as is relevant certification in one or more areas (e.g., CPCU, ARM, CRC). 20 years combined business, insurance, and risk management or similar work experience is required. Must have knowledge of state and federal regulations and agencies, particularly with respect to risk assessment and management.
Require 10 years of financial operations, staff management experience; should have 10+ years multi-line claims experience in a carrier or 3rd-party administration environment.
RISK MANAGER PHYSICAL DEMANDS
Ability to communicate orally with customers, vendors, management, and coworkers is crucial. Regular use of phone and email for communication is essential. Hearing and vision correctable to within normal ranges is essential for normal conversations, receiving ordinary information, and preparing or inspecting documents.
The ability to remain in a stationary position roughly 50% of the time, as well as the ability to move about the office occasionally (accessing files/storage, office equipment, computers and other office productivity devices, attending meetings, etc.), is required.
Using a computer while sitting for extended periods is common. Must also be able to position self to maintain equipment, including under tables and desks.
No heavy lifting is expected, though occasional exertion of about 20 lbs. of force (e.g., picking up and carrying binders, laptops) may be required. Good manual dexterity required to use common office equipment (e.g., computers, mobile devices, calculators, copiers, scanners).
The job is performed indoors in a traditional office setting. Extended periods of sitting while using a computer or other devices are common.