Chief Risk Officer
Reporting directly to the CEO, this position is a member of the senior leadership team. The Chief Risk Officer (CRO) will help shape how Nonprofits Insurance Alliance looks at business planning issues including market risk, financial risk, underwriting risk, credit risk, claims risk, operational risk, and strategic risk. It will impact multiple aspects of the NIA operating platform as it intersects with product development, entering new markets and the attendant allocation of capital and resources to those endeavors. The CRO will contribute to the group’s planning practices as well as relationships with the insurance community. The CRO will work with all aspects of the organization to identify opportunities for increased communication and effectiveness and must be comfortable interacting with external auditors, regulators, rating agencies and others. Our culture is entrepreneurial, led by a senior leadership team, but engaging the entire staff. “Not my job” is not part of the vocabulary. Chiefs must be true team players willing to abandon “turf” issues for the greater good and must be an example for all staff for exemplary ethical conduct. This position will be based in Santa Cruz, CA.
- Oversees and directs enterprise risk as management with specific emphasis on:
- Market Risk – exposure to interest rate fluctuations, fixed income securities.
- Financial Risk – exposures to financial and enterprise financial risks
- Underwriting Risk – exposures arising from activities as part of underwriting of insurance products, product development, regulatory issues, establishing reserves and pricing metrics, analyzing loss experience, loss trends.
- Claims Handling Risk –exposures arising from activities related to claims handling including processes and practices related to the settlement and litigation of claims.
- Credit Risk – exposure from all potential creditors, brokers, reinsurers.
- Operational Risk – exposure arising from damage to company’s reputation or “franchise” value stemming from external and internal factors, i.e., management change, business interruption, fraud, data security and integrity
- Strategic Risk – exposure arising from adverse business decisions, improper implementation of decision or lack of response to industry changes.
- Oversees and directs compliance department
- Oversees and directs loss control/member services departments
- Oversees and directs an internal audit program.
Duties include but are not limited to:
- Oversees insurance and nonprofits regulatory activities and filings and periodic reporting to rating agencies.
- Develop and monitor risk management strategy and risk appetite
- Directs and analyzes studies of general economic, business, and financial conditions and their impact on the organization’s policies and operations.
- Analyzes operational issues impacting functional groups and the whole organization, and determines their financial impact.
- Evaluates the results of overall operations and regularly and systematically and reports these results to the chief executive officer, senior leadership team and board of directors.
- Evaluates business partnering opportunities.
- Ensures that all organization activities and operations are carried out in compliance with local, state, and federal regulations and laws governing business and insurance operations.
- 10+ years of insurance and/or financial operations experience
- Financial services organization or property/casualty company is required. Strong preference will be given to candidates who have held the position of Chief Risk Officer at an insurance company or brokerage or someone with significant experience with enterprise-wide audit functions.
- Ability to assimilate and understand a mass of information from a variety of sources in the organization
- Fixed income asset management experience a plus, but not required
- Ability to utilize sophisticated modeling tools and apply their output in a usable manner.
- Superior knowledge of financial measures & scoring in the support of short and long-range forecasting.
- The ability to design and assist in the implementation of an internal accounting and financial controls system.
- Excellent analytical and problem solving skills.
- Superior oral and written communications skills.
- Effectively manages relationship with external agencies in multiple markets.
- Hands-on and proactive management style.
- Able to execute models and forecasts.
- Able to build alignment for initiatives and programs.
- Willing mentor to peers and others in areas of expertise.
- Appropriate tenure in finance/accounting, risk management, insurance operations, actuarial or other appropriate disciplines within the insurance industry.
- Exceptional ability to influence and motivate others through other than direct reporting relationships.
- Fluency in Microsoft WORD, Excel, PowerPoint and Outlook.
- B.S./B.A. required. M.B.A. in business or finance is highly preferred.
- Related industry course work and designations preferred, including but not limited to: CPA, CPCU, ARM or CFA (Chartered Financial Analyst Certification)
If you are interested in applying for a position, please submit your resume and a cover letter that tells us why you want to work for AMS, a member of the Nonprofits Insurance Alliance via our Career Page located at: https://insurancefornonprofits.org/contact/employment/employment-opportunities/
Job Type: Full-time
- insurance and/or financial operations: 10 years (Required)
- Los Angeles, CA (Required)
- Health insurance
- Dental insurance
- Vision insurance
- Retirement plan
- Paid time off