Director Of Risk Management

Job Description

Advance Auto Parts ("Company") is seeking a seasoned professional to fill the role of Director of Risk Management. In this role, you will be responsible for leading a team of corporate risk professionals to assess and mitigate risks, develop strategies, prepare reports and promote organizational awareness to help protect the Company from losses. The Director of Risk Management should be highly analytical and able to collaborate effectively with various departments to achieve business objectives. The successful candidate will have 10+ years of experience in risk management with a proven track record of developing and implementing risk management strategies.

LOCATION

Advance Auto Parts HQ, Raleigh, NC - on site

Responsibilities

• Identify and evaluate potential risks that may hinder the reputation, safety, security and financial prosperity of the Company
• Develop and implement risk management frameworks, policies and protocols
• Coordinate with different department leads to create business insights and risk mitigation plans
• Manage relationships with insurance brokers and third-party administrators to provide cost-effective solutions for the Company
• Liaise with external auditors, regulators and insurers
• Oversee actuarial analyses and reports, risk modeling and forecasting, and review loss reserves
• Drive business outcomes aimed at minimizing total Cost of Risk
• Conduct regular assessments and audits to identify risks and ensure risk management procedures are being adhered to
• Compile, analyze and prepare risk assessment and trend analysis reports and present them to senior management
• Oversee actuarial analyses and reports and review loss reserves
• Direct insurance programs, purchase insurance and negotiate/manage policy renewals and claims
• Ensure compliance with applicable laws, regulations and industry standards
• Advise business units on risk-related decisions and on contractual language related to risk management
• Communicate emerging risks and recommend proactive measures
• Oversee the management and operations of a captive insurance company
• Lead a team of nine risk professionals through coaching and development

Required Skills and Qualifications

• Bachelor's degree in Risk Management, Finance, Business Administration, Actuarial Science, or a related field.
• Excellent leadership and interpersonal skills to manage a risk management team and foster a culture of risk awareness throughout the organization
• Proven experience in a similar role, preferably managing a claims department with high volumes of claims activity
• Excellent knowledge of risk management principles and practices
• Experience in the development and management of enterprise risk management frameworks aligned with legal/regulatory requirements and insurance industry best practices.
• Demonstrated experience of proactive mindset and initiative-taking in identifying and mitigating risks.
• Strong analytical skills to forecast and identify potential risks
• Familiarity with risk management information systems (RMIS), data visualization or analytics tools and insurance claims systems or software
• Self-motivated and action-oriented, with a strong sense of ownership and the ability to drive initiatives forward with limited supervision
• Ability to make sound decisions under pressure
• Strong team management abilities with experience developing talent
• Solid communication skills and C-suite comportment
• Certified Risk Management Professional (CRMP) is a plus
• Advanced degree preferred.

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