Director, Risk Management (Cambridge, MA)

Philips • Cambridge, MA

4d • $173,000 - $275,000 • Hybrid

About The Position

The Director, Risk Management oversees organizational and financial risks through comprehensive strategies, including hedging, policy adjustments, and proactive controls. The role develops and implements policies aligned with the company’s risk appetite, provides strategic advice on financial risk, and analyzes financial market movements in relation to the company’s risk profile to refine hedging strategies and mitigate financial uncertainty.

The Director manages and develops team members, negotiates insurance contracts for operational risks, and ensures coverage supports strategic objectives while managing costs. The role fosters a risk-aware culture through training and awareness programs, encouraging the proactive identification and mitigation of risks.

The position also oversees risk mitigation and business continuity efforts, leads risk assessments and audits for compliance with regulations and company policies, and advises senior management on risk exposure and insurance strategies. It builds relationships with internal stakeholders and external parties to gain industry insights and secure effective risk mitigation solutions. This is an office role based in or within commuting distance of Cambridge, Massachusetts, with office-based teams working in person at least three days per week.

Requirements

• At least 8 years of experience with a bachelor’s degree, or at least 6 years with a master’s degree, in Risk Analysis and Assessment, Financial Modeling and Analytics, Insurance, Enterprise Risk Management (ERM), or an equivalent area.
• Bachelor’s or master’s degree in Finance, Econometrics, Legal, Economics, Business Administration, Financial Risk Management, or an equivalent field.
• Experience and skills in risk oversight and mitigation, including implementation of risk strategies involving hedging, policy adjustments, and proactive controls.
• Experience negotiating insurance contracts covering operational risks.
• Experience fostering risk awareness to enhance compliance.
• Must have U.S. work authorization; candidates requiring sponsorship for a work-authorized visa will not be considered.
• Must reside in or within commuting distance of Cambridge, Massachusetts.
• Must be able to meet the position’s minimum physical, cognitive, and environmental job requirements, with or without accommodation.

Responsibilities

• Oversee risks and implement comprehensive risk management strategies, including hedging, policy adjustments, and proactive controls.
• Develop and implement financial risk policies aligned with the company’s risk appetite and objectives, and provide strategic advice on financial risk.
• Analyze financial market movements relative to the company’s risk profile to inform and refine hedging strategies.
• Manage team members, support their professional growth through mentorship and guidance, and maintain high performance standards.
• Lead negotiations of insurance contracts covering operational risks, ensuring coverage aligns with strategic objectives and costs are managed effectively.
• Foster a risk-aware culture through training and awareness programs that encourage proactive risk identification and mitigation.
• Oversee risk mitigation and business continuity efforts to support operational resilience and continuity.
• Lead risk assessments and audits to ensure compliance with regulations and company policies.
• Advise senior management on risk exposure and insurance strategies.
• Build relationships with internal stakeholders and external parties to gather industry insights and secure risk mitigation solutions.

Benefits

• Generous paid time off
• 401(k) with up to 7% company match
• Health savings account with company contribution
• Stock purchase plan
• Education reimbursement
• Comprehensive benefits program
• Annual incentive bonus, sales commission, or long-term incentives may be offered

What This Job Offers

• Job Type: Full-time
• Career Level: Director