Vice President, Risk

Vice President Of Risk

The Vice President of Risk, reporting to the General Counsel, is responsible for leading the company's risk management program. The VP will possess an intimate knowledge of internal business processes and the organization's industry. The individual will possess business process knowledge, a broad based operational perspective, and provides solutions for noninsurance-related business risk issues. The recognized risk leader will be someone who is a dynamic, proactive, and decisive person. They will also adapt well to and initiates change in the organization. This individual will seeks ways to optimize risks in the organization as a competitive business advantage. The VP will serve as a key advisor to the General Counsel and other senior leaders, providing insights and recommendations to support informed decision-making and protect the company's legal and financial interests.

Key Responsibilities :

• Analyze the impact and likelihood of identified risks, considering their potential financial.
• Stay abreast of industry trends, regulations, and best practices to ensure the risk management framework remains effective
• Compile relevant data for benchmarking purposes
• Develop and implement risk mitigation strategies and controls to reduce identified risks to an acceptable level.
• Collaborate with various departments and stakeholders to design and implement effective risk management practices.
• Provide guidance and support to business units in implementing risk control measures and ensuring compliance with risk management policies.
• Establish / negotiate contractual controls as respects indemnification and insurance requirements with manufacturers, suppliers, and installers.
• Assist in evaluating insurance options and negotiating terms with insurance providers to ensure adequate coverage at competitive rates.
• Manage insurance claims, including coordinating with relevant parties and providing necessary documentation for claim processing.
• Work closely with legal to assess and manage contractual and legal risks
• In partnership with senior leadership, identify key vulnerabilities
• Develop and maintain crisis management plans to effectively respond to and recover from emergencies and major incidents.
• Coordinate with cross-functional teams to establish business continuity plans, including disaster recovery and incident response procedures.
• Conduct regular drills and simulations to test the effectiveness of crisis and business continuity plans.
• Provide training and awareness programs to employees to ensure readiness and responsiveness during crises.
• Prepare and present risk reports and updates to senior management, highlighting key risks, mitigation efforts, and risk management performance.
• Communicate risk-related information to relevant stakeholders, fostering a risk-aware culture throughout the organization.
• Collaborate with internal and external auditors to facilitate risk assessments and provide necessary documentation.
• Assist in regulatory compliance efforts by ensuring appropriate risk management practices are in place.

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Equal Opportunity Employer. Veteran Friendly Employer.