What are the responsibilities and job description for the Director / Head of Risk Management position at Gables Search Group?
We are seeking an experienced and strategic leader to oversee our company's risk management initiatives. This critical role will be responsible for managing and mitigating both financial and operational risks, focusing on hedging commodity inventory, energy costs (gas and electricity), overseeing insurance coverage, and managing workers' compensation insurance programs.
The ideal candidate will have a proven track record in risk management within a manufacturing environment and possess deep expertise in commodities, energy markets, and insurance programs.
Commodity Risk Management :
Develop and execute daily hedging strategies to protect against price volatility of key commodities.
Monitor market trends, economic conditions, and regulatory changes affecting commodity prices.
Build and maintain relationships with financial institutions, brokers, and other market participants.
Provide detailed reporting and analysis on hedging activities and their financial impacts.
Energy Hedging and Cost Management :
Implement and manage hedging strategies to mitigate volatility in gas and electricity prices.
Collaborate with operations and procurement teams to forecast energy requirements and align hedging strategies with business needs.
Evaluate and optimize hedging instruments to ensure cost-effectiveness and risk reduction.
Insurance Management :
Oversee the company's overall insurance portfolio, including property, liability, and operational coverage.
Evaluate and negotiate insurance policies to ensure comprehensive protection and cost-efficiency.
Conduct regular reviews of insurance coverage to ensure it aligns with organizational risks and complies with legal and regulatory requirements.
Manage the claims process, ensuring timely and accurate reporting and resolution.
Provide necessary data for insurance company audits.
Workers' Compensation Insurance :
Administer and optimize the company's workers' compensation insurance programs.
Partner with HR and safety teams to minimize claims through proactive risk assessments and workplace safety initiatives.
Manage claims processes, ensuring compliance with legal requirements and minimizing financial impact.
Provide necessary data for workers' compensation insurance audits.
Risk Analysis and Reporting :
Evaluate and mitigate risks related to cash flow, credit exposure, investment decisions, and financial forecasting.
Monitor financial markets and economic conditions to assess their potential impact on the business.
Work closely with the CFO to integrate risk management into financial planning and corporate strategy.
Conduct risk evaluations for major capital investments, mergers, acquisitions, and other financial initiatives.
Ensure compliance with internal policies, legal requirements, and external regulations, maintaining robust internal controls.
Develop and implement risk management policies and processes focused on financial and operational risks.
Prepare detailed risk analysis reports for the CFO, finance team, and executive leadership.
Support the creation of reports for the board of directors and external auditors.
Collaborate with cross-functional teams (production, quality assurance, supply chain) to address financially impactful risks.
Work with IT and cybersecurity teams to manage financial risks associated with data security and technology disruptions.
Maintain and update risk management frameworks, policies, and procedures.
Conduct regular risk assessments and recommend mitigation strategies.
Present risk exposure and mitigation measures to senior leadership.
Prepare and present annual budgets for general insurance, workers' compensation insurance, and utilities.
Cross-Functional Collaboration :
Partner with finance, operations, procurement, and HR teams to align risk management strategies with company goals.
Provide training and guidance to internal stakeholders on risk awareness and mitigation best practices.
Requires :
Bachelor's degree in Finance, Risk Management, Business Administration, Economics, or a related field.
Experience :
Minimum of 5-7 years of experience in commodity hedging, energy cost management, and insurance program oversight.
Manufacturing industry experience is highly preferred.
Skills and Competencies :
In-depth knowledge of commodity and energy markets, hedging instruments, and risk management strategies.
Expertise in insurance policy management and claims processing.
Strong analytical and financial modeling skills.
Excellent interpersonal and communication skills, with the ability to negotiate and collaborate effectively across teams.
This role offers an exciting opportunity to shape the company's risk management strategy while working collaboratively across departments to support the company's growth and success.
