Enterprise Risk Management and Risk Insurance Head

The Head of Enterprise Risk Management and Risk Insurance is responsible for overseeing the development, implementation, and continuous improvement of MGen's risk management framework. This role will manage all aspects of enterprise risk management (ERM), including operational, financial, strategic, compliance, and reputational risks, as well as direct the risk insurance portfolio to protect the organization against potential losses. The role involves close collaboration with senior leadership to align risk practices with the company's overall strategic goals, ensuring a proactive approach to risk identification, assessment, and mitigation.

Key Responsibilities

1. Enterprise Risk Management (ERM)

• Risk Framework & Policy Development: Design, implement, and maintain a robust ERM framework and policies that integrate risk management practices into all levels of the organization.
• Risk Identification & Assessment: Lead the identification, assessment, and prioritization of risks across various business functions, including project management, operations, finance, and regulatory compliance.
• Risk Reporting: Develop risk metrics, dashboards, and periodic risk reports for presentation to the executive leadership team, audit committees, and board of directors.
• Risk Mitigation & Action Plans: Collaborate with departmental heads to design and execute risk mitigation strategies and action plans to address identified risks.
• Training & Awareness: Drive ERM awareness and risk culture within the organization by conducting regular training and development programs for staff and stakeholders.

2. Risk Insurance Management

• Insurance Program Development: Oversee the company’s insurance program, including property, liability, and business interruption policies, to ensure adequate coverage against potential losses.
• Claims Management: Manage insurance claims and coordinate with insurers, brokers, and internal departments to ensure efficient claims processing and resolution.
• Policy Renewals and Negotiation: Review, negotiate, and renew insurance policies on a regular basis to optimize coverage and manage costs.
• Loss Prevention and Control: Lead loss prevention initiatives, risk inspections, and regular evaluations to minimize the potential for losses.

3. Strategic Risk and Compliance

• Compliance with Regulations: Ensure compliance with regulatory requirements, especially in relation to energy industry standards, environmental regulations, and health and safety laws.
• Business Continuity & Resilience Planning: Establish and oversee business continuity and crisis management plans to prepare for and respond to potential disruptions.
• Strategic Risk Advisory: Provide risk advisory to support the organization’s strategic planning process and decision-making, assessing risks associated with new investments, partnerships, or acquisitions.

4. Leadership and Stakeholder Management

• Team Management: Lead, mentor, and develop the ERM and insurance team, fostering a culture of continuous improvement and professional growth.
• Stakeholder Engagement: Act as a liaison between the risk management function and other departments, fostering cross-functional collaboration and communication on risk-related matters.
• Board and Executive Communication: Present risk findings, initiatives, and mitigation progress to the executive team and board of directors, articulating the implications for MGen’s business objectives.

Key Qualifications

• Education: Bachelor’s degree in Finance, Business Administration, Risk Management, or a related field; MBA or Master’s degree preferred.
• Experience: At least 10 years of relevant experience in enterprise risk management, insurance, or risk-related roles within the energy sector, with at least 5 years in a leadership capacity.
• Certifications: Professional certifications such as Certified Risk Manager (CRM), Certified Risk Management Professional (CRMP), or Chartered Property Casualty Underwriter (CPCU) are advantageous.
• Skills:
• Strong analytical and problem-solving skills.
• Exceptional communication and presentation abilities.
• In-depth knowledge of risk management frameworks (e.g., COSO, ISO 31000).
• Proficient in risk assessment software and Microsoft Office Suite.

Core Competencies

• Strategic Thinking: Ability to anticipate potential risks and devise long-term solutions that align with the organization’s goals.
• Collaboration: Strong ability to work cross-functionally and manage stakeholder relationships.
• Attention to Detail: Keen eye for identifying and assessing potential risks with thorough analysis.
• Leadership: Demonstrated leadership skills with a proactive, results-oriented approach.