What are the responsibilities and job description for the Director of Enterprise Risk Management position at Wakefern Food Corp.?
About Wakefern
Wakefern Food Corp. is the largest retailer-owned cooperative in the United States and supports its co-operative members' retail operations, trading under the ShopRite®, Price Rite®, The Fresh Grocer®, Dearborn Markets®, Fairway Markets, Gourmet Garage® and Di Bruno Bros® banners.
Employing an innovative approach to wholesale business services, Wakefern focuses on helping the independent retailer compete in a big business world. Providing the tools entrepreneurs need to stay a step ahead of the competition, Wakefern’s co-operative members benefit from the company’s extensive portfolio of services, including innovative technology, private label development, and best in class procurement practices.
About You
Your contribution
The Director of Enterprise Risk Management is responsible for providing the overall leadership, vision, direction, and execution oversight for Enterprise Risk Management (ERM) at the organization. The ERM function is responsible for working across the company to establish and operate a sustainable risk management program that supports the projected growth of the company and aligns with the regulatory expectations and requirements of the organization. This includes identifying, measuring and managing insurable or hazard risks, developing reports and plans, analyzing risk and defining the implementation of the risk solutions that help optimize operations through insurance procurement, risk financing, claims management, captive management and loss control. The Director of ERM performs the following duties personally or through team members. This role will report directly to the Senior Vice President, General Counsel. The position is located in Edison, NJ.
What you will do
- Provide leadership and management direction within the ERM program
- Develop and implement organization wide risk framework and strategic vision, and develop ERM policies and practices
- Provide leadership and guidance in defining Board and Executive Management's risk appetite and risk tolerances
- Work across the organization to leverage expertise in establishing risk metrics and reporting that describe key risk exposures and early warning indicators for Executive Management and the Board
- Lead ERM relationships across the enterprise, including liaising and consulting with executives, and providing an effective challenge to risk ownership activities
- Maintain a high-level view of the enterprise risk portfolio and advising executives and Risk Management Committee of the Board on risk exposure, risk management and mitigation, including through coverage procurement, and organizational resilience
- Provide leadership and contributes significantly to the risk governance structure and operations through involvement with the Executive Risk Committee and the Board Risk Committee
- Oversee Risk Manager and Claims Manager in the management of various vendor relationships, including but not limited to, Insurance Brokers, Third Party Claims Administrators, and Coverage Counsel.
- Oversee the Captive Insurance Company and its operations. This includes managing the Captive Manager, Actuary, Auditors, Attorney, and Investment Consultants.
- Oversee development of operating and insurance budgets
What we’re looking for
- Significant Risk Management knowledge and experience in shaping and leading an Enterprise Risk Management program required
- Experience leading a function or business unit with $50M budget
- Master's degree or equivalent and at least 15 years related experience and/or training, or equivalent combination of education and experience is preferred
- Certification in risk management (ARM, CRM or RIMS-CRMP) preferred
- Captive Insurance program management experience preferred
- Excellent ability to lead through influence across a diverse organization to drive the adoption of risk management programs and the implementation of the expected changes in disciplined risk management practices
- Ability to communicate effectively at all levels of management and at the Board and Board Committee level.
- Ability to respond effectively to sensitive inquiries or complaints, ability to make effective and persuasive presentations on controversial or complex topics to top management, Risk Management Committee and/or board of directors
- An advanced knowledge of effective risk management practices and related regulatory requirements and expectations. An intermediate level of knowledge and understanding of credit risk management is preferred.
- Ability to lead a large diverse team
How you will succeed
Leadership Competencies:
- Think Strategically: Create a compelling vision, develop a strategy and empower others to achieve it
- Influence Others: The ability to effectively collaborate, inspire, persuade and align others
- Drive Change: Create the vision and drive the momentum for change
- Talent Planning: Build organizational and associate capability to achieve business goals
- Take Accountability: Drive a culture of ownership throughout the organization
- Inclusive Leadership: Role model inclusive leadership to leverage diversity
Core Competencies:
- Communicate Effectively: Communicates thoughts and ideas in a well-organized manner, encouraging two-way communication.
- Build Relationships: Creates cross functional partnerships through the development and maintenance of constructive and cooperative relationships.
- Stay Competitive: Demonstrates a mindset of continuous improvement while exhibiting passion and enthusiasm for their work.
- Embrace Change: Looks for new ways of working by supporting advancements in processes and technology.
- Develop You: Identifies and capitalizes on opportunities for personal and professional career growth.
- Drive for Results: Supports divisional and strategic objectives through achievement of work goals.
How you will work
- Ability to work at a computer for prolonged periods of time
- Occasional travel between corporate, Member stakeholders and subsidiary locations
- Ability to work onsite for four days minimum with flexibility to work remotely on a fifth day per week
Company Perks
- Vibrant Food Centric Culture
- Comprehensive medical, dental and vision package
- Competitive Salary and Paid Time Off
- Fitness Reimbursement and Well-Being Program
- Corporate Training and Development University
- Collaborative team environment
- Paid Parental Leave
- 401K
- Matching Gifts and Community Volunteer Involvement
