GENERAL DESCRIPTION:
The Associate Vice President of Risk Assessment and Strategy plays a crucial role in overseeing and managing the risk assessment processes and developing strategic risk management strategies for the organization. This position requires a deep understanding of risk analysis methodologies, regulatory compliance, and business operations.
MAJOR RESPONSIBILITIES:
- Assess: Develop and implement comprehensive risk assessments to identify, assess, and prioritize potential risks and vulnerabilities within the organization’s operations, processes, and systems.
- Evaluate: Conduct regular risk assessments to evaluate the effectiveness of existing risk management strategies and controls.
- Collaborate: Collaborate with cross-functional teams, including Compliance, Legal, Finance, and Operations, to ensure alignment of risk management practices with business objectives.
- Data: Analyze data and trends to assess the probability and potential impact of various risks on business objectives, recommending proactive measures for mitigation.
- Policies: Establish a structured framework for organizing and consistently updating relevant information concerning current laws, regulations, and industry best practices pertinent to risk management and compliance.
- Mitigation: Lead the development of risk mitigation strategies and action plans, in collaboration with relevant stakeholders, and implement action plans to minimize the organization’s exposure to identified risk.
- Train: Provide guidance and training to team members and stakeholders on risk management principles, practices, and tools that support the organization’s objectives.
- Report: Prepare and present risk assessment reports, findings, and recommendations to senior management and board members.
- Monitor: Monitor and track key risk indicators (KRIs) and key performance indicators (KPIs) to assess the effectiveness of risk management strategies.
- Expertise: Serve as a subject matter expert on risk management strategies, methodologies, industry trends, and emerging risks, providing guidance and support to colleagues across the organization.
- Strategy: Participate in strategic planning initiatives to ensure that risk considerations are integrated into the organization’s long-term goals and objectives.
OTHER RESPONSIBILITIES:
- Contract Review: Thoroughly review contracts, agreements, and legal documents to identify key terms, obligations, rights, and risks. This includes analyzing clauses related to payment terms, termination, indemnification, confidentiality, intellectual property, and dispute resolution.
- Legal Compliance: Ensure that contracts adhere to legal and regulatory requirements applicable to the industry and jurisdiction. This involves staying updated on relevant laws, regulations, and industry standards that impact contract terms and conditions.
- Contract Risk: Assess potential risks associated with contracts and recommend risk mitigation strategies. Identify areas of concern such as ambiguous language, potential liabilities, or contractual obligations that may pose financial or legal risks to the organization.
- Negotiation Support: Collaborate with legal counsel, business stakeholders, and external parties during contract negotiations. Provide insights and recommendations to support negotiation efforts and achieve favorable contract terms that align with the organization’s interests.
- Contract Amendments: Evaluate proposed amendments or modifications to existing contracts. Assess the impact of changes on contractual obligations, rights, and risks, and provide guidance on the approval or revision of contract amendments.
- Document Management: Maintain organized records, contracts, amendments, and related documents. Ensure that contract databases or management systems are updated accurately and timely to track outcomes, contract status, key dates, renewals, and compliance requirements.
- Continuous Quality Improvement: Identify opportunities for process improvements, standardization of templates, and implementation of automation tools or software to enhance efficiency, accuracy, and compliance in operational and management processes.
(These job functions are not to be construed as a complete statement of duties. Employees will be required to perform other related duties as required.)
QUALIFICATIONS:
- Bachelor’s degree in risk management, finance, business administration, legal, or related field; advanced degree (e.g., MBA, master’s) preferred.
- Professional certification such as Certified Risk Manager (CRM), Certified Risk Analyst (CRA), or Certified Risk Professional (CRP) is a plus.
- Extensive experience (typically 8+ years) in risk management, with a focus on risk assessment, strategy development, and implementation.
- Proven leadership and team management abilities, with experience in leading cross-functional teams and driving results.
- Commitment to ongoing professional development.
SKILLS, KNOWLEDGE, AND ABILITIES:
- Strong analytical skills with the ability to interpret complex data and identify trends and patterns.
- Excellent communication and interpersonal skills, with the ability to collaborate effectively with stakeholders at all levels.
- Knowledge of regulatory requirements and industry standards related to risk management, compliance, and governance.
- Proficiency in risk management tools, software, and methodologies.
- Strong problem-solving skills and strategic thinking abilities.
- Ability to work in a fast-paced environment and adapt to changing priorities and business needs.
- Upholding high ethical standards, maintaining confidentiality in handling sensitive information, and using thoughtful professional judgement.
CERTIFICATIONS:
- Valid Driver’s License
- Certificates of acknowledgement required: Conflict of Interest, Code of Ethics, Confidentiality agreements, IT Systems and Security, Anti-Fraud, HR Employee Acknowledgement Form.
- Applicants must successfully pass a drug screen and background check as a condition of employment.
ENVIRONMENTAL CONDITIONS (Hybrid Remote Work Position):
This is a hybrid remote work position, which means you will have the flexibility to work from your preferred location. As a hybrid remote employee, it is essential that you have access to a quiet and professional work environment that is conducive to focused and productive work.
When you are not in the office, you will need the following to succeed in this role:
- Reliable Internet Connection: You will need to provide your own high-speed and stable internet connection which is necessary to ensure seamless communication, access to online tools, and the ability to collaborate with team members effectively.
- Suitable Workspace: You should have a dedicated workspace that is free from distractions and provides a comfortable and ergonomic setup. This includes a suitable desk, chair, and appropriate lighting that ensure your health and comfort during work hours.
- Minimal Background Noise: Since remote work involves virtual meetings and calls, it is important to minimize background noise and maintain a professional environment. Having a quiet space free from disruptions is crucial during client interactions, team discussions, and video conferences.
- Equipment and Technology: The agency will provide you with a computer/laptop, headset, and any other necessary equipment required to perform your job functions remotely. You must follow all agency policies regarding regularly updating software, maintaining cybersecurity measures, and protecting confidential information.
- Time Management and Independence: Remote work requires self-discipline and an ability to manage your time efficiently. You should be able to work autonomously, prioritize tasks effectively, and meet deadlines without direct supervision.
Please note that during the hiring process, we may request a tour of your remote workspace to ensure an appropriate work environment. Remember, maintaining a professional and conducive work setting is important for your success and overall satisfaction in this remote position.
PHYSICAL DEMANDS (Hybrid Remote Job):
While working in a remote office setting, physical demands are generally minimal. However, it is important to be aware of certain considerations related to ergonomics and health. Please take note of the following:
- Ergonomic Workspace: Setting up an ergonomic workstation is essential to promote comfort and prevent potential physical strains. This includes having a proper chair, desk, and computer setup that ensures good posture and minimizes the risk of musculoskeletal issues.
- Computer Usage: Most of the work will involve computer-based tasks, such as using software applications, typing, and utilizing online communication tools. It is important to be mindful of your posture, take regular breaks for stretching or resting your eyes, and maintain appropriate lighting conditions.
- Movement and Stretching: While not a physical demand in the traditional sense, it is crucial to incorporate movement and stretching into your remote work routine. Regular breaks to stand up, walk, stretch, or exercise can improve circulation, reduce muscle tension, and enhance overall well-being.
- Self-care and Wellness: Working remotely can blur the line between work and personal life. Prioritizing self-care and creating a healthy work-life balance is crucial. It is important to maintain regular exercise, eat balanced meals, and practice self-care activities to support both your physical and mental well-being.
As with any office-based or remote work, it is important to be mindful of your own health and comfort. Creating a suitable workspace, practicing good ergonomics, and incorporating healthy habits will contribute to a positive work environment and promote overall job satisfaction. Requires normal range of hearing and eyesight to communicate with clients and staff. (Reasonable accommodations will be made for otherwise qualified individuals with a disability)
