Job Description

Advance Auto Parts ("Company") is seeking a seasoned professional to fill the role of Director of Risk Management. In this role, you will be responsible for leading a team of corporate risk professionals to assess and mitigate risks, develop strategies, prepare reports and promote organizational awareness to help protect the Company from losses. The Director of Risk Management should be highly analytical and able to collaborate effectively with various departments to achieve business objectives. The successful candidate will have 10+ years of experience in risk management with a proven track record of developing and implementing risk management strategies.

LOCATION
Advance Auto Parts HQ, Raleigh, NC - on site

Responsibilities

Identify and evaluate potential risks that may hinder the reputation, safety, security and financial prosperity of the Company
Develop and implement risk management frameworks, policies and protocols
Coordinate with different department leads to create business insights and risk mitigation plans
Manage relationships with insurance brokers and third-party administrators to provide cost-effective solutions for the Company
Liaise with external auditors, regulators and insurers
Oversee actuarial analyses and reports, risk modeling and forecasting, and review loss reserves
Drive business outcomes aimed at minimizing total Cost of Risk
Conduct regular assessments and audits to identify risks and ensure risk management procedures are being adhered to
Compile, analyze and prepare risk assessment and trend analysis reports and present them to senior management
Oversee actuarial analyses and reports and review loss reserves
Direct insurance programs, purchase insurance and negotiate/manage policy renewals and claims
Ensure compliance with applicable laws, regulations and industry standards
Advise business units on risk-related decisions and on contractual language related to risk management
Communicate emerging risks and recommend proactive measures
Oversee the management and operations of a captive insurance company
Lead a team of nine risk professionals through coaching and development

Required Skills and Qualifications

Bachelor's degree in Risk Management, Finance, Business Administration, Actuarial Science, or a related field.
Excellent leadership and interpersonal skills to manage a risk management team and foster a culture of risk awareness throughout the organization
Proven experience in a similar role, preferably managing a claims department with high volumes of claims activity
Excellent knowledge of risk management principles and practices
Experience in the development and management of enterprise risk management frameworks aligned with legal/regulatory requirements and insurance industry best practices.
Demonstrated experience of proactive mindset and initiative-taking in identifying and mitigating risks.
Strong analytical skills to forecast and identify potential risks
Familiarity with risk management information systems (RMIS), data visualization or analytics tools and insurance claims systems or software
Self-motivated and action-oriented, with a strong sense of ownership and the ability to drive initiatives forward with limited supervision
Ability to make sound decisions under pressure
Strong team management abilities with experience developing talent
Solid communication skills and C-suite comportment
Certified Risk Management Professional (CRMP) is a plus
Advanced degree preferred.

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Director of Risk Management