Senior Risk Manager

Everlake•Northbrook, IL

3d•Hybrid

About The Position

Leader within the Enterprise Risk Management (ERM) function of Everlake Life Insurance Company that manages various risk and governance accountabilities for the company. This role evaluates risk and return profiles across multiple risk categories, establishes monitoring and reporting of risk positions, coordinates operational risk programs, and performs key run-the-business activities. This role interacts with business leaders as well as internal and external parties to actively maintain and advance risk management and governance initiatives. This position also serves as an indirect leader by driving results and achieving goals through collaboration with other business areas. This position reports to the Senior Risk Director. The work location is hybrid or fully remote. This position will not have direct reports.

Requirements

Bachelor’s degree from an accredited institution
10+ years working in insurance, preferably risk management related roles, or 10+ years working in risk management in the financial services industry
Knowledge of enterprise and operational risk management frameworks, the Three Lines Model, and insurance regulatory requirements
Familiarity with model risk management practices
Strong analytical, problem-solving, and risk reporting capabilities, including development of key risk indicators and performing risk assessments
Excellent written and verbal communication skills, including the ability to present complex information to senior leadership and Boards
Proven ability to influence stakeholders and collaborate across all levels of the organization
Ability to manage multiple priorities in a fast-paced and evolving environment
Proficiency with relevant tools and systems (e.g., Microsoft Office, M365 Copilot, CIGNVS)

Nice To Haves

Related professional designations are preferred

Responsibilities

Assist in defining and documenting Enterprise Risk Management Framework and Enterprise Risk Management Policy (to assist with identifying, assessing, managing, monitoring, and reporting on material and relevant risks) including risk categories such as Strategic Risk, Investment Risk, Insurance Risk, Financial Risk, and Operational Risk. This role will also assist in the maintenance of separate, offshore risk management frameworks as needed.
Focus on Operational Risk categories, including the execution of an Operational Risk Assessment, execution of a Model Risk Management (MRM) program as MRM Coordinator, maintenance of a centralized Assumption Repository, and support for the annual Policy update process. Responsibilities include operational risk response plans, issue identification and escalation, and management of emerging and evolving risks.
Execute and mature the Business Continuity Management Framework including Business Continuity Management Policy, processes, and development, maintenance, and testing of business continuity plans; serve as the Business Continuity Coordinator within the broader Incident Response Framework, working collaboratively with Crisis Management and Technology, and using the CYGNVS tool.
Support and enhance risk reporting including key risk indicators, develop and prepare board or senior management level reporting. Continuously advance the maturity level of financial and non-financial risk metrics. Risk reporting also includes preparation of external presentation materials (e.g., AM Best presentations and updates for regulators).
Represent risk management function among separate lines within the Three Lines Model through proper coordination and partnership on risk and control activities, consult on key strategic initiatives, and actively collaborate on cross-functional risk management topics (Legal and Compliance, Vendor, Third-Party Administrator, Technology).
Assist in risk related aspects of key initiatives such as reinsurance deals, legal entities, regulatory requests, and external stakeholder requests.
Collaborate with Internal Audit and other business areas including third-party audits.
Support Model Audit Rule control design, testing and reporting for ERM controls.
Support vendor onboarding process and collaborate with vendor management team on enterprise risk management topics.
Review of Third-Party Administrator business continuity plans annually.
Review applicable SEC 38A-1 controls annually.