Director of Enterprise Risk Management

About the role

The Director of Enterprise Risk Management is responsible for directing the VCU Health System Enterprise Risk Management (ERM) Program, including the design, implementation and oversight of the organization's enterprise risk management framework. The role will support the identification, evaluation, prioritization, management/mitigation, and monitoring of risks affecting the organization while ensuring the organization operates within legal and ethical boundaries.

Responsibilities

• Leads the development and documentation of the ERM Program, including enterprise risk framework and enterprise risk appetite/framework/tolerance in collaboration with Senior Leadership.
• Fosters and builds a risk-intelligent culture.
• Manages the enterprise-wide risk assessment process, including maintaining the organization's risk inventory through collaboration with leaders of each domain to develop risk mitigation strategies.
• Promotes effective and ongoing communication and sharing of information to escalate risk concerns.
• Develops and evaluates the Health System’s approach to risk identification, management, monitoring, and communication.
• Facilitates the identification of risk, develops reports, and monitors ERM issues.
• Engage leaders and colleagues in the practice of identifying, managing, monitoring and communicating risk across various departments and functions within the Health System, including clinical, financial, operational and strategic risk.
• Monitors the effectiveness of enterprise risk management strategies, tracking key risk indicators, and reporting on risk-related issues to senior management and the board.
• Develops ERM tools, practices and policies to report and analyze enterprise risk management and to facilitate the management of risk according to the Health System’s ERM framework.
• Develops ERM policies and strategies based on best practices, including consideration of current developments that could impact the organization’s profile, the regulatory environment, rating agency standards, and strategic initiatives of the Health System.
• Develop and manage ERM training and education for staff based on ERM principles and practices, promoting a consistent approach to risk management throughout the Health System.
• Uses analytics and monitors internal/external environment for relevant information to facilitate risk identification and implementation of mitigation plans.
• Performs other duties as assigned and/or participates in special projects to support the mission of VCUHS.

Qualifications

Required qualifications include a Baccalaureate Degree in Healthcare Administration, Health Law, Public Health, or Business Administration from an accredited program, and 7 years of Enterprise Risk Management, Legal or Health Care Administration experience, including 3+ years of Management experience.

• Experience in Corporate/Risk Governance, Risk Management, Regulatory Management, Legal, or related areas.
• Experience with ERM principles and methodologies.
• Previous work experience in developing and implementing enterprise risk management framework and strategies.
• Previous work experience with statistics, data collection, analysis, and data presentation.
• Excellent Analytical skills with the ability to interpret complex data and trends and present findings to executive team.
• Proficient in risk management tools and software.
• Strong communication skills to effectively present risk information to executive leadership and board members.
• Ability to work cross-functionally with various departments.
• Strong Leadership and Development skillset.
• Strong critical thinking skills, including strategic thinking, effective analysis of data, and the ability to aggregate risk across the health system into enterprise risk.
• Strong decision making, adaptability and resilience.
• Strong project management skills and ability to establish project goals, schedules, and deliverables and to manage numerous complex projects.

Preferred qualifications include a Master’s Degree in Healthcare, Administration, Health Law, Public Health, or Business Administration from an accredited program, Certified Professional in Healthcare Risk Management (CPHRM), experience in transformation and change leadership, and previous experience in an academic medical center environment.