Review Vacancy
Occupational CategoryFinancial, Accounting, Auditing
Bargaining UnitM/C - Management / Confidential (Unrepresented)
Salary RangeFrom $175000 to $185000 Annually
Minimum Qualifications Basic Qualifications:
• Bachelor’s Degree and ten years of leadership experience within the insurance industry, with a minimum of five years in a senior risk role.
• Knowledge of the risk management including industry trends, industry risks, and common practices.
Preferred Qualifications:
• Broad knowledge of risk management practices and experience in developing an effective risk management system.
• The ideal candidate will have excellent verbal and written communication skills and have experience in identifying or troubleshooting complex business challenges.
• Strong financial knowledge and understanding of economic, actuarial, and accounting aspects of insurance products.
• Deep knowledge of insurance company operations and risk management.
• Demonstrated experience in leading an insurance related enterprise risk management function.
• Preference for risk credentials such as Financial Risk Manager (FRM), Fellow of Society of Actuaries (FSA), Chartered Enterprise Risk Actuary (CERA), etc.
Duties Description Description: As a member of the Executive Management Team, the Chief Risk Officer will provide leadership, vision, and direction on risk management activities to support NYSIF’s short and long-term strategic goals. The successful candidate will be expected to advise the Executive Management Team on risk exposure mitigation and partner with external parties to create state-of-the-art risk analyses and monitoring.
Duties:
• Review existing systems within the agency for managing risk and compliance; and identify gaps and areas for improvement.
• Establish agency protocols to identify, address, and mitigate risks to the agency across agency departments, including strategic, operational, financial, reputational, and compliance-related risks.
• Direct the preparation of audit report findings and recommendations for submission to NYSIF’s Executive Management Team and the Board of Commissioners’ Budget and Audit Committee; recommend program, policy and procedural changes based on audit findings; and establish systems to monitor the disposition of audit results communicated to management.
• Direct and oversee periodic risk assessments of agency operations, including Enterprise Risk Management; review the agency’s risk prioritization; and develop and implement risk mitigation plans.
• Oversee implementation of educational programs to formally communicate risk management evaluation processes and requirements to key management personnel and employees.
• Monitor the changes and current trends in risk management for New York State agencies and authorities and/or insurers by remaining informed of current policies.
• Proactively identify and mitigate existing and emerging risks to confront the factors that trigger crises; evaluate operations to improve ethics and compliance with laws, regulations, and policies.
• Act on recommendations for review made by NYSIF’s Executive Management Team or external partners.
• Lead and develop an insurance focused capital model and framework.
• Develop and implement an Enterprise Risk Management Policy; provide risk input to foster a risk aware culture across the organization.
• Maintain and update NYSIF’s risk appetite, limit structure, and escalation procedures.
• Coordinate with investment compliance to develop a comprehensive risk monitoring framework.
• Assist in responding to regulatory inquires and preparing for regulatory examinations.
• Serve in a leadership role in the internal Enterprise Risk Management Committee.
• Develop NYSIF’s annual Own Risk and Solvency Assessment (ORSA).
• Assist with ESG initiatives across the organization.
• Partnering with IT to ensure date integrity is maintained throughout the organization.
Additional Comments Candidate must be a New York State resident or be willing to relocate. NYSIF has a telecommuting program.
Some positions may require additional credentials or a background check to verify your identity.