Senior Director of Risk Management Strategies

The Senior Director of Risk Management Strategies is responsible for safeguarding the agency by ensuring all material risks are identified, understood, and effectively managed. Through strategic risk initiatives and facilitation of cross-functional teams, the Sr Director of Risk Management Strategies will incorporate risk management and insurance principles and practices in the Authority’s business operations and drive the development and improvement of a strong GRC framework (Governance – Risk – Compliance).

The position will manage the overall Risk Management functions, which includes a portfolio of insurance policies including but not limited to property, casualty, excess liability, and cyber liability, and will engage with stakeholders to conduct comprehensive analysis of risk profiles and risk exposures to determine appropriate types of insurance necessary to protect the physical and financial assets of the Authority.

The Senior Director of Risk Management Strategies will work with in-house and outside counsel and key departments such as Safety, Real Estate, Procurement, Capital / Construction, and Environmental, to provide contractual language in contracts / agreements that facilitates transfer of risk to third parties through insurance and indemnification and advise / assist in the development of strategic plans risk initiatives that would drive business decisions.

This position requires strong management and analytical skills along with exceptional interpersonal skills to communicate effectively with a variety of stakeholders.

Develop and maintain Enterprise Risk Management tools, practices, and policies to analyze and report enterprise risks, and manage risks according to an Enterprise Risk Management (ERM) framework.

Oversee and monitor all operational risk management activities of the organization and across the agency’s business units.

Provide oversight and manage a portfolio of insurance policies by analyzing exposures (Maximum Foreseeable and Probable loss scenarios), providing critical analysis of risk exposures and risk retention, that result in reduction of premiums, operating expenses and / or enhanced coverages.

Oversee the development and implementation of a strategic work plan to address short term / long term goals and objectives of Risk Management department to align with those of key stakeholders.

Develop and implement risk assessment models and methodologies for existing programs and new initiatives for emerging rail / transit risk issues engaging key stakeholders and senior management in the process.

Develop and administer the risk management budget including the forecast of funds needed due to insurance market fluctuations and change in conditions, consultive services and risk initiatives.

Work with key stakeholders and in-house and outside counsel on all major contracts, agreements, licenses, RFPs, and procurements to provide contract language to address risk exposures, define responsibilities to minimize, eliminate or transfer of risk through insurance and indemnification language.

Evaluate the scope and risk profile of the MBTA’s sourced projects, supplies and services and establish and manage appropriate guidelines for Vendor risk transfer and related insurance requirements where needed. Enforce compliance with all required Vendor insurance provisions.

Provide oversight of third-party claims in conjunction with MBTA Legal to provide large claim reporting to insurer(s) with assessment of claims management practices and projection of future liabilities associated with open claims / suits.

As is deemed necessary, represent the Risk Management team on relevant internal committees.

Maintain and build constructive relationships with insurance brokers, insurance carriers, and other key risk management partners.

Ensure the organization’s risk management policies and strategies are in compliance with applicable Federal, State and City laws and regulations.

Perform all other duties and projects that may be assigned.

Supervision

Supervise the Director of Risk Management and potentially other staff if needed.

Qualifications

Ten (10) years\' experience in roles related to risk management, and leading risk / safety initiatives, preferably in a complex environment.

Seven (7) years of supervisory, managerial, and / or leadership experience.

Demonstrated experience applying methods and techniques to mitigate risk issues by assessing safety hazards and implementing corrective measures.

Excellent project management, problem solving, analytical, strategic thinking, decision making, and planning skills.

Excellent interpersonal, communication and negotiation skills including project and / or experience handling confidential communications and relationships with senior leadership.

Demonstrated experience and results in collaborating with an executive team to drive organizational change.

Ability to learn quickly, take direction, and work independently and to use creative, collaborative, and consultative approaches to resolve issues.

Highly organized with a demonstrated ability to manage time, resources, and people across multiple complex and concurrent projects.

Excellent communication, analytical, and presentation skills with ability to obtain buy-in with key stakeholders at all levels of the organization and influence their decision-making.

Strong analytical and problem-solving skills; ability to understand, interpret, and present data.

Proficient in MS Word, Excel, and PowerPoint or related software.

Demonstrated ability to think strategically and work in a team environment.

Demonstrated ability to work effectively with a diverse workforce.

Education and Related Experience

A High School Diploma or GED with an additional seven (7) years of directly related experience substitutes for the bachelor’s degree requirement.

An Associate Degree from an accredited institution an additional three (3) years of directly related experience substitutes for the bachelor’s degree requirement.

A Master’s Degree in a related subject substitute for two (2) years of general experience.

A nationally recognized certification, or statewide / professional certification in a related field substitutes for one year of experience.

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