Job Description

MSIG North America continues to grow! The Chief Risk Officer (CRO) is responsible for the overall leadership, vision, and direction of the Enterprise Risk Management (ERM) function within the company. This role involves identifying, assessing, managing, and mitigating risks across the organization, ensuring alignment with the company’s strategic objectives and regulatory requirements. The CRO will work closely with the Board of Directors, executive management, and various departments to foster a culture of risk awareness and resilience. Key Responsibilities: Risk Management Strategy: Develop, implement and/or enhance a comprehensive ERM framework and risk management strategy aligned with the company’s goals and objectives. Establish and maintain Risk Appetite Statement, Capital Management Framework, Sensitivity Analysis, Igloo NtInsight Model Governance and other items identified as ERM Key Initiatives in collaboration with the Board of Directors and executive management. Set risk appetite and tolerance levels to guide decision-making processes and ensure alignment with the company’s strategic goals. Risk Identification and Assessment: Oversee the identification and assessment of all types of risks including strategic, operational, financial, compliance and reputational risks. Implement risk assessment methodologies and tools to quantify and prioritize risks. Risk Mitigation and Control: Design and implement effective risk mitigation strategies and controls. Ensure the development and maintenance of risk registers and action plans. Monitor the effectiveness of risk management strategies and adjust as necessary. Regulatory Compliance: Ensure compliance with all relevant regulations and standards, in particular and including but not limited to, the New York Department of Financial Services (NY DFS) Regulation No. 203, 11 N.Y.C.R.R. §§ 82.1 et seq . Liaise with regulatory bodies and ensure timely reporting and communication of risk-related matters. Develop and file, in tandem with the General Counsel and the Compliance Office, mandatory insurance regulatory filings related to ERM, including but not limited to the Enterprise Risk Report and the Own Risk and Solvency Assessment (ORSA) Summary Report. Risk Reporting and Communication: Prepare and present regular risk reports to the Board of Directors, executive management, and relevant stakeholders. Foster a risk-aware culture across the organization through effective communication and training programs. Leadership and Team Management: Lead, mentor, and develop the ERM team, ensuring they have the skills and resources needed to effectively manage risks. Chair the Enterprise Risk Management ERM Committee, a direct committee of the Board of Directors, and oversee its subcommittees, the ERM Compliance & Operational Risk Subcommittee (CORS), the ERM Working Group for Quantitative Risk Management (Q Group) and the Reinsurance Committee. Collaborate with other departments to integrate risk management into all business processes. Crisis Management: Develop and maintain crisis management and business continuity plans. Lead the response to major risk events, ensuring effective crisis management and recovery. Continuous Improvement: Stay abreast of industry trends, emerging risks, and best practices in risk management. Continuously improve the existing ERM framework and processes. Qualifications: Bachelor’s degree in Risk Management, Finance, Business Administration, or a related field such as Actuarial Science; advanced degree preferred. Professional certifications such as Chartered Property Casualty Underwriter (CPCU), Certified Risk Manager (CRM), or equivalent. Minimum of 10 years of experience in risk management within the property and casualty insurance industry, with at least 5 years in a senior leadership role. In-depth knowledge of ERM principles, practices, and regulatory requirements. Strong analytical and problem-solving skills with the ability to make data-driven decisions. Excellent communication, presentation, and interpersonal skills. Proven leadership and team management abilities. High ethical standards and integrity. It's an exciting time for our company and a great opportunity to join a financially sound and growing global insurance group! It is the policy of MSIG-NA to provide equal employment opportunity (EEO) to all persons regardless of age, color, national origin, citizenship status, physical or mental disability, race, religion, creed, gender, sex, sexual orientation, gender identity and/or expression, genetic information, marital status, status with regard to public assistance, veteran status, or any other characteristic protected by federal, state or local law. In addition, MSIG-NA will provide reasonable accommodations for qualified individuals with disabilities. #J-18808-Ljbffr MSIG North America

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