Director, Enterprise Risk Management

General Function

The Director of Enterprise Risk Management (ERM) is responsible for the leadership, innovation, governance, and management necessary to identify, evaluate, mitigate, and monitor the college’s operational and strategic risk. Develops Enterprise Risk Management tools, practices, and policies to analyze and report enterprise risks, and to manage risks according to an enterprise risk management framework. Ensures the organization’s risk management policies and strategies are in compliance with applicable regulations, rating agency standards, and strategic imperatives of the organization. Establishes the Enterprise Risk Management architecture for the company. Directs the efforts or monitors all operational risk management activities of the organization. Monitors and analyzes risks within the college-business units and reports on these risks to the Board. Chairs or provides key inputs into college enterprise risk or other committee(s) that oversees the enterprise risk management process and ensures alignment with organizational objectives. This position also has responsibilities for reviewing, securing insurance, and working directly and managing contracts with the third-party insurance broker and risk services.

Duties and Responsibilities

• Direct the risk management efforts between all areas of the college by collaborating with representatives from various teams to include, but not limited to Emergency Management, Facilities Services, Environmental Health and Safety, Institutional Equity Office, Human Resources, IT, Security, and Academic Affairs. Manages a diverse work force including hiring and termination employees
• Collaborates with members of various established teams such as Facilities Partners, Core Response Team, Data Governance Committee, etc.
• Works with the Procurement Department to bid and award insurance products; negotiates with the awarded vendor to assure the best price/coverage for the college for both new and existing vendors.
• Plays a major role in the selection of vendors through partnership with Procurement, Information Technology Services, and legal counsel in the review and approval of terms and conditions on behalf of the college.
• Works with the NC Association of Insurance Agents to Manage and pay premiums for state owned vehicles the college operates.
• Responsible for managing the Enterprise Risk Management budget for insurance in excess of $1 Million. Enters the college prep budget system the expected insurance budget; responsible for managing the Insurance Recovery Account and other county insurance accounts; creates requisitions for payment of insurance invoices.
• Reviews, makes recommendations and approves indemnification language and provides subject matter expertise for contracts and/or agreements.
• Engage and develop effective working relationships to support cooperative responses to risk management matters and issues.
• Works with Facilities Department to purchase Builders Risk Insurance which is paid for by the construction project; adds buildings to the policy once a Certificate of Occupancy is received from the Facilities Department.
• Participates with insurance carriers in college audits as it relates to insurance and risk control visits as it relates to risk management inspections.
• Completes the Risk Management Note in the Financial Statements.
• Reviews the insurance section of college contracts; manages distribution of Certificates of Insurance to outside sources; keeps on file Certificates of Insurance provided to the college from outside vendors providing contractual services to the college; reviews Certificates of Insurance provided to the college for rental of facilities.
• Works with units to ensure proper coverage of new and expanding high risk programs of study or where contractual agreements are in place that require additional insurance coverage.
• Presents to upper management the results of the negotiations of all products; keeps upper management informed of any insurance issues and needs for additional coverage.
• Reviews security reports through system (ARMS) and forwards to the insurance company as soon as possible patterns observed in the reporting system; serves as first point of contact for insurance claims.
• Responsible for Department of Motor Vehicles eligibility checks on all employees who drive college owned vehicles (both state and county).
• Collaborates with Business Continuity/Emergency Management to provide assistance with Business Continuity and Emergency Management operations.
• Other duties as assigned.

Minimum Requirements and Preferred Qualifications

Bachelor’s Degree and 2 years of work experience in Risk Management and Insurance with legal or related experience. Knowledgeable in the areas of insurance, bonds, contracts and loss control.

Preferred Requirements:

• Certified in one of more of the following:
• Chartered Property Casualty Underwriter (CPCU)
• Associate in Risk Management (ARM)
• Certified Risk Manager (CRM)
• Certified Insurance Counselor (CIC)
• NC Insurance Agent or Broker License

Additional Information