Enterprise-Operational Risk-Dir
- Employer
- Allstate Insurance Company
- Location
- Northbrook, Illinois
- Salary
- Not Specified
- Posted
- Apr 26, 2019
- Closes
- Jun 22, 2019
- Ref
- 533073700A3#GIJ--Allstate.1
- Category
- Risk Management
- Job Type
- Not Specified
- Career Level
- Not Specified
Where good people build rewarding careers.
Think that working in the insurance field cant be exciting, rewarding and challenging? Think again. Youll help us reinvent protection and retirement to improve customers lives. Well help you make an impact with our training and mentoring offerings. Here, youll have the opportunity to expand and apply your skills in ways you never thought possible. And youll have fun doing it. Join a company of individuals with hopes, plans and passions, all using and developing our talents for good, at work and in life.
Job Description
Allstates Operational Risk & Return Management team (ORRM) reports into Enterprise Risk-Return Management (ERRM). Operational Risk is the risk of loss resulting from inadequate or failed processes or systems, human factors, or external events. ORRM is responsible for developing the firmwide Operational Risk Management Framework (ORMF)and overseeing its implementation across Market Facing Business (MFBs) and Areas of Responsibility (AORs). The ORMF includes governance, standards, risk process and tools through which ORRM directs and assists MFBs/AORs to identify and assess risk, mitigate risk in accordance with appetite and analyze and understand the risk environment overall. Through its processes and framework ORRM provides Senior Management with an enterprise-wide, transparent view of operational risk and supports business strategy through more informed risk taking.
The Operational Risk Director is a key contributor toward advancing the maturity of ORRM and the framework, and furthering a culture prudency and risk awareness through facilitation, communication and training. The Director assists and leads staff to independently advise and challenge MFBs/AORs as they implement the ORMF. Each Director has lead coverage responsibility for key sub-categories of operational risk (e.g. business continuity, model, supplier, etc.).
Key Responsibilities
Reporting to the VP, ERRM Operational Risk, the Director will assist the development, governance, maintenance and implementation of the operational risk program, as well as advise, oversee, review and challenge MFBs/APRS as they implement the ORMF. Specifically, the candidate will:
- Contribute to enhancing/maintaining framework components such as taxonomy, RCSA, policy, etc. for consistent and appropriate methods across Allstate
- Promote risk management practice and culture to strengthen the operational risk environment of Allstate
- Participate in various governance, MFB/AOR and project meetings related to operational risk and control matters assuring an open environment for collaboration, risk identification and mitigation
- Participate in various working groups to provide risk oversight and guidance as needed during operational process design, remediation programs, etc.
- Manage a team of ORRM analysts responsible for understanding the risk environment and guiding/directing the Risk Control Self Assessment (RCSA), Key Risk & Performance Indicators and event management of specific internal clientele
- Identify and assess severity and likelihood of issues for potential escalation and communication to Business Executives and Senior Risk Managers
- Identify and engage appropriate stakeholders to facilitate targeted deep dives, thematic reviews and any additional directives from senior leadership.
Job Qualifications
Education and Experience
- 10 or more years of related experience
- Bachelors degree or equivalent; May also have advanced degree
Functional Skills
- In-depth understanding of operational risk and governance.
- Experience in one or more key operational risk categories: model, business continuity, vendor, data privacy, technology, cyber, fraud
- Highly developed relationship management, influencing and leadership skills
- People management
- Program/project management
- Organizational, verbal, and written communication skills and ability to lead and influence at all levels
- Some travel required
Certificates, Licenses, Registrations
- Operational risk certifications (RMA, PRMIA, GARP, ERMA, IMA, ISACA etc.) not required but encouraged
Good Work. Good Life. Good Hands.
As a Fortune 100 company and industry leader, we provide a competitive salary but thats just the beginning. Our Total Rewards package also offers benefits like tuition assistance, medical and dental insurance, as well as a robust pension and 401(k). Plus, youll have access to a wide variety of programs to help you balance your work and personal life -- including a generous paid time off policy.
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Allstate generally does not sponsor individuals for employment-based visas for this position.
Effective July 1, 2014, under Indiana House Enrolled Act (HEA) 1242, it is against public policy of the State of Indiana and a discriminatory practice for an employer to discriminate against a prospective employee on the basis of status as a veteran by refusing to employ an applicant on the basis that they are a veteran of the armed forces of the United States, a member of the Indiana National Guard or a member of a reserve component.
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