Risk Management Director Job Description

Risk Management Director Job Profile and Description

Managing operational and financial risks is an essential part of any business.  There’s always the risk of something going wrong when dealing with workers, suppliers, the government, the public and its markets.   The Risk Management Director focuses on identifying, prioritizing and evaluating the financial, marketing and operational implications to the business in the event some form of disaster, litigation or scandal occurs.  He designs, develops and implements programs and policies to neutralize or mitigate the risks.  This often involves determining the right insurance coverages and business recovery systems to be implemented by the IT department.

Duties and Responsibilities

• Design and develop risk mitigating plans and programs, policies and procedures to neutralize and minimize effect of threats and reduce inevitable risks and losses
• Evaluate insurance options in protecting corporate assets.
• Coordinate with the Legal Department when addressing risks of litigation and loss of license, congressional franchise, regulatory clearances, etc.
• Recommend internal controls and avoidance procedures whenever applicable.
• Make executive decisions on the maximum tolerances of each risk the business can absorb without incurring serious loses, whether in money, people and reputation.

Skills and Specifications

• Must have an eye for computational details with a high level of accuracy
• Must have high level of patience to delve into deeper levels of analysis
• Must be able to work under high continuous work pressures, long work hours a high deal of computational accuracy and comply with deadlines
• Must have strong verbal and written communication and interpersonal skills to interact with high level decision makers.

Education and Qualifications

A degree in law is accompanied by a similar experience in another company is basic to the position. A post graduate course in business administration and management is an advantage. A degree in accounting can also be considered depending on the nature and operations of a company. Computer literacy with spreadsheets and word processing is basic