Risk Management Director Job Description

November 26, 20110 Comments

Risk Management Director Job Profile and Description

The risk management director is the one who has to manage the risks as the name sounds he or she has to identify, prioritize and evaluate the risks involved in the financial, marketing and operational implications. He or she is basically an essential part of any business as there is always the risk of something going wrong when dealing with workers, suppliers, the government, the public and its markets. The duty is to design, develop and implement the programs and policies to neutralize or mitigate the risks.          It will be also needed to determine the right insurance coverage and business recovery systems to be implemented by the IT department.

Duties and Responsibilities

There are the following duties and responsibilities of a risk management director which have to be fulfilled:

  • The risk management director has the main responsibility to design and develop risk mitigating plans and programs, policies and procedures.
  • It is needed to design the plans to neutralize and minimize effect of threats and reduce inevitable risks and losses.
  • The other main responsibility is to firstly evaluate the insurance options in protecting corporate assets.
  • He or she needs to maintain the coordination with the Legal Department when addressing risks of litigation.
  • He or she has to aware of all the facts such as the loss of license, congressional franchise, regulatory clearances, etc.
  • It will be the duty to identify the requirements and then recommend internal controls and avoidance procedures whenever applicable.
  • The risk management director has top make the executive decisions on the maximum tolerances of each risk.
  • It is needed to be aware of all the risks such as the business can absorb without incurring serious loses, whether in money, people and reputation.

Skills and Specifications

The required skills and specifications are as follows:

  • The person must be very detail oriented, conscientious and systematic with a high level of accuracy to do the job.
  • He or she should have the ability to work for the long hours to set deadlines.
  • He or she must have the high level of patience to delve into deeper levels of analysis.
  • The person should have the exceptional communication skills both verbal and written.
  • He or she should have the strong interpersonal skills to interact with high level decision makers.

Education and Qualifications

  • The basic degree required to do the job is a college degree in law
  • The person must have done the post graduation course in business management and accounting field with a strong basis along with computer literacy.
  • The person needs to have the past 2-3 year of working experience in another company is an edge.
  • The person must have the required computer knowledge and literacy with spreadsheets and word processing.

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