Enterprise Risk Officer - Operational Resilience & Corporate Insurance

MFS • Boston, MA

8d • Hybrid

About The Position

At MFS, you will find a culture that supports you in doing what you do best. Our employees work together to reach better outcomes, favoring the strongest idea over the strongest individual. We put people first and demonstrate care and compassion for our community and each other. Because what we do matters – to us as valued professionals and to the millions of people and institutions who rely on us to help them build more secure and prosperous futures. THE ROLE Leads the development and advancement of MFS’ enterprise risk framework by designing, executing and monitoring continuous improvement of two Enterprise Risk Programs: Global Enterprise Resilience and Corporate Insurance. Ensures these programs are effectively meeting the needs of the firm and adapting to evolving regulatory requirements. WHAT YOU WILL DO Global Enterprise Resilience Program responsibilities: Partners with the Sr. Manager – Vendor Management in the design and implementation of a global resilience framework, ensuring it meets business objectives, global standards and adapts to evolving regulatory requirements. Collaborates with senior business leaders across the organization to align resilience efforts. Continuously monitors the effectiveness of the operational resilience framework, adjusting based on emerging threats, business changes, and regulatory updates. Partners with the business continuity, IT, compliance, legal, and cybersecurity teams to ensure that all aspects of operational resilience are integrated and aligned with the overall corporate strategy. Stay abreast of developments in operational resilience, including new technologies, strategies, and global regulatory changes. Leads the global resilience testing program including the design, execution, and documentation of scenario tests to evaluate the effectiveness of existing operational resilience frameworks and identify areas for enhancement. Collaborates with various departments to create realistic and challenging scenarios that reflect potential operational disruptions, including technological or vendor failures, cyber-attacks, and natural disasters. Analyze the outcomes of scenario tests to assess the readiness of the organization to manage and recover from disruptive events effectively. Maintain a comprehensive database of testing scenarios, results, and follow-up actions to ensure accountability and continuous learning. Facilitates workshops and training sessions to enhance the organization’s understanding and execution of operational resilience practices. Corporate Insurance Program responsibilities: Manages MFS' insurance programs, including development, interpretation, administration, and maintaining related procedures. Conducts market research to stay informed; analyzes and suggests new insurance products and alternative risk financing programs; monitors trends and regulations. Works with MFS' insurance broker to set strategy and lead annual renewal discussions. Coordinates with ERM management and business teams to review underwriting needs and provide accurate information to brokers and carriers. Evaluates and recommends strategies to strengthen MFS's insurance risk profile through the development and adoption of updated policies, procedures, and operational practices, as well as enhancements to associated documentation. Identifies and implements improvements to facilitate the effective administration of all aspects of MFS's insurance programs. Serves as the primary contact for insurance matters, provides guidance across MFS, and manages all financial aspects of the insurance program. Collaborates with MFS' Legal Department with respect to insurance investigations, negotiations, settlement and recovery of claims.

Requirements

• Bachelor's degree or equivalent work experience.
• Relevant work experience in risk (enterprise, operational, vendor or IT risk), investment management, financial services, or industry-related compliance.
• Demonstrated experience with global operational resilience regulations, e.g. DORA and UK Operational Resilience, and best practices
• Possesses practical expertise in reviewing, evaluating, designing, and implementing corporate insurance programs, ensuring robust knowledge retention for ongoing professional development.
• Strong analytical skills, with a proven ability to work independently and synthesize complex information.
• Strong project management and organizational skills, including the ability to complete projects and reports within communicated deadlines
• Excellent communication and interpersonal skills, capable of working with all levels of management and collaboratively across team and departmental boundaries.
• Some periodic travel, domestic and international, may be required.

Nice To Haves

• In-depth knowledge and hands on experience using Archer GRC preferred

Responsibilities

• Partners with the Sr. Manager – Vendor Management in the design and implementation of a global resilience framework, ensuring it meets business objectives, global standards and adapts to evolving regulatory requirements.
• Collaborates with senior business leaders across the organization to align resilience efforts.
• Continuously monitors the effectiveness of the operational resilience framework, adjusting based on emerging threats, business changes, and regulatory updates.
• Partners with the business continuity, IT, compliance, legal, and cybersecurity teams to ensure that all aspects of operational resilience are integrated and aligned with the overall corporate strategy.
• Stay abreast of developments in operational resilience, including new technologies, strategies, and global regulatory changes.
• Leads the global resilience testing program including the design, execution, and documentation of scenario tests to evaluate the effectiveness of existing operational resilience frameworks and identify areas for enhancement.
• Collaborates with various departments to create realistic and challenging scenarios that reflect potential operational disruptions, including technological or vendor failures, cyber-attacks, and natural disasters.
• Analyze the outcomes of scenario tests to assess the readiness of the organization to manage and recover from disruptive events effectively.
• Maintain a comprehensive database of testing scenarios, results, and follow-up actions to ensure accountability and continuous learning.
• Facilitates workshops and training sessions to enhance the organization’s understanding and execution of operational resilience practices.
• Manages MFS' insurance programs, including development, interpretation, administration, and maintaining related procedures.
• Conducts market research to stay informed; analyzes and suggests new insurance products and alternative risk financing programs; monitors trends and regulations.
• Works with MFS' insurance broker to set strategy and lead annual renewal discussions.
• Coordinates with ERM management and business teams to review underwriting needs and provide accurate information to brokers and carriers.
• Evaluates and recommends strategies to strengthen MFS's insurance risk profile through the development and adoption of updated policies, procedures, and operational practices, as well as enhancements to associated documentation.
• Identifies and implements improvements to facilitate the effective administration of all aspects of MFS's insurance programs.
• Serves as the primary contact for insurance matters, provides guidance across MFS, and manages all financial aspects of the insurance program.
• Collaborates with MFS' Legal Department with respect to insurance investigations, negotiations, settlement and recovery of claims.

Benefits

• MFS contributes an amount equal to 15% of your base salary to your retirement account that is separate from the company -sponsored 401(k)
• Education Assistance: MFS contributes $100 monthly up to $10,000 lifetime maximum directly to loan provider
• Education Assistance: Tuition reimbursement up to $8,000 annually
• Education Assistance: Access to discounted tutors and college coaches
• Generous time off and fully paid leaves including 20-weeks for maternity, 12-weeks for parental and caregiver leaves
• Choice of medical and dental plans and an and an employer contribution into the Health Savings Account
• Tax deferred commuter benefits & flexible spending accounts (medical & dependent care)
• Wellness Programs: Robust wellness webinars, employee assistance program with a focus on mental health, subsidized fitness benefit via Wellhub (formerly Gympass), where you can workout at gyms, studios and boutique fitness locations near you, join virtual personal training sessions and access a wide variety of well-being apps

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Number of Employees: 1,001-5,000 employees