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Job Description Summary
The Director of Risk Management and Financial Policy administers the University s several risk management efforts; manages the University s insurance programs; develops policies and procedures to protect the University from loss or to reduce the risk of loss from non-compliance; develops and administers the University s Enterprise Risk Management system; and oversees the Internal Audit function outsourced from the Boston Consortium.
This position oversees development, implementation, and delivery of risk management programs to ensure consistent direction, policy, and procedures for a broad range of risk exposures. This position supports the University s widely distributed risk owners, providing leadership and direction on risk mitigation and loss prevention for faculty, staff and students across the campus. He/she works collaboratively with the Internal Audit and Risk Management Groups at the Boston Consortium, insurance brokers, General Counsel, and a broad range of University personnel.
Oversees and coordinates the Outsourced Internal Audit function
Collaborate with the Boston Consortium Internal Audit Director to develop the annual audit plan supported by a University-wide risk assessment. Ensure appropriate connection to the Enterprise Risk Management effort;
Schedule audit fieldwork, coordinate and review on-campus conferences and written audit reports, and follow-up to ensure appropriate implementation of corrective actions;
Plan and coordinate the work of the Audit Committee of the Board of Trustees including drafting agendas and minutes for Chair s review;
Manages and administers the University s Insurance Program
Work with the Boston Consortium Risk Management Group and with the designated Insurance Brokers to monitor and authorize issuance and renewal of the University insurance policies including property, liability, crime, and other policies as required; complete all applications as required;
Ensure that the coverage provided by all insurance policies is consistent with the University s needs and that the cost of the premiums is competitive; implement changes over time to account for any new or different circumstances affecting coverage needs or premium costs;
Coordinate with our General Counsel on pertinent litigation claims and place the insurance companies on formal notice when legal claims arise;
Attend Risk Management Group Meetings of the Boston Consortium and participate in any committee or project-based activities within the group that will benefit the University s interests; Collaborate with the University s General Counsel and Procurement Departments as part of the University s contract process, ensuring insurance considerations are adequate;
Manages fiscal policy development and dissemination
Develop, implement and promote policies, procedures, and guidelines to address identified financial and operational risks;
Educate and train the University community on risk management roles and responsibilities;
Collaborate with the Chief Information Security Officer to promote policies and practices to safeguard data and to ensure compliance with GDPR, FERPA, PCI and other similar regulations;
Ensure financial compliance with University policies and procedures through community awareness building and outreach;
Provides Leadership and Oversight with the Universitys Enterprise Risk Management (ERM) System
Leads the efforts to incorporate ERM issues into the strategic objectives of the University, coordinating the work of the University s Enterprise Risk Management Committee (ERMC);
Works through the ERMC, the Audit Committee, our Auditors, and the Board of Trustees to develop, implement, and monitor an ERM initiative for the University;
Prepare the periodic reporting to the University s Board of Trustees and Audit Committee, and other reports as required;
Develop metrics and implement reporting mechanisms for existing and newly identified risks to communicate risk management progress and risk mitigation effectiveness
Bachelors Degree in risk management, finance, business management, or related fields, plus 5 - 7 years of experience in risk management, insurance, legal, and business management OR 10+ years of experience in risk management, insurance, legal, and business management.
Excellent project management, problem solving, analytical, strategic thinking, decision making, and planning skills;
Excellent interpersonal, communication (oral and written), and negotiation skills;
Ability to work cooperatively and effectively with others;
Strong quantitative, analytical, and financial management skills;
Ability to devise risk mitigation, risk transfer, and insurance strategies to protect University assets and personnel;
Ability to successfully manage multiple priorities and meet deadlines.
Advanced degree or applicable professional designation in insurance and risk management is desirable (e.g. ARM, CPCU, CRM, CRMA).
Typical office work environment with extensive sitting and computer work
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