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Risk Management Specialist
Risk Management SpecialistBrooksource • Richmond, VA, US
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Risk Management Specialist

Risk Management Specialist

Brooksource • Richmond, VA, US
1 day ago
Job type
  • Full-time
Job description

Position Summary

The Risk and Financial Management Support Specialist will provide dedicated support to large-scale Tier 1 IT modernization projects within an agency of the Commonwealth of Virginia. This role bridges two critical functions : risk and issue management and financial oversight, including budget tracking, spend plan updates, and reporting.

The specialist will collaborate closely with Project Managers and the PMO to ensure that all risks, issues, and financial activities are accurately documented, tracked, and communicated in alignment with Commonwealth standards and timelines.

Key Responsibilities

Subject Matter Expertise

  • Develop subject matter expertise in project risk management through formal / informal training and collaboration with project teams.
  • Use this expertise and a proactive approach to identify project risks, issues, and mitigation strategies early in the project lifecycle.

Risk Management

  • Partner with Project Managers to identify, document, and mitigate risks and issues throughout the project lifecycle.
  • Maintain an up-to-date risk and issue register, including probability, impact, mitigation strategies, and cost implications.
  • Distinguish between internal project risks and external risks requiring escalation to VITA.
  • Attend project status meetings, scrums, and key stakeholder sessions to capture and manage risks in real time.
  • Deliver monthly risk reports and dashboards to PMs and PMO leadership.
  • Ensure risk management processes are audit-ready and aligned with PMO standards.
  • Serve as an advisor to Project Managers, providing insights without overriding their authority.

    • Financial Management

  • Support financial tracking activities, including spend plan updates, variance analysis, and budget forecasting.
  • Assist with budget data entry, validation, and staff time allocation tracking in Planview or comparable tools.
  • Collaborate with Project Managers to develop analytics and presentations for executive reviews.
  • Coordinate with PMO and external stakeholders to ensure accurate financial reporting in compliance with VITA and Commonwealth requirements.

    • Reporting & Compliance

  • Ensure timely submission of required reports related to risk, issues, and financial performance.
  • Support compliance with Commonwealth audit, procurement, and risk management standards.
  • Prepare and review consolidated dashboards for leadership prior to external reporting.

    • Qualifications

  • Education : Bachelor's degree in Business Administration, Finance, Information Systems, or related field (preferred).
  • Experience : 3–5 years in project management support, risk management, financial analysis, or IT project delivery.
  • Certifications : PMP required; familiarity with ITIL or similar frameworks preferred.
  • Technical Skills : Proficiency with MS Project, Excel, SharePoint, and Planview (or comparable project portfolio tools).
  • Soft Skills : Excellent analytical, organizational, and communication abilities; able to balance detail orientation with executive-level summaries.

    • Key Competencies

  • Analytical Thinking : Synthesizes risk and financial data into actionable insights.
  • Collaboration : Works effectively with PMs, SMEs, and leadership teams.
  • Proactive Risk Awareness : Anticipates potential issues and escalates appropriately.
  • Financial Insight : Understands budget structures, variance analysis, and project financials.
  • Discretion & Judgment : Communicates sensitive information with accuracy and discipline.
  • Situational Awareness : Understands context and audience for effective escalation and communication.
  • Organization : Maintains cadence and completeness of meetings, reports, and deliverables.
  • Trusted Advisor : Supports project success by ensuring risks and finances remain controlled and transparent.

    • Success Measures

  • Reduction in last-minute escalations through early risk identification and mitigation.
  • Accurate and timely risk and financial data supporting informed decision-making.
  • Strong alignment and trust with Project Managers and PMO leadership.
  • Zero audit findings or exceptions related to risk and financial documentation.
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    Risk Management Specialist • Richmond, VA, US