Job Summary
Officer position responsible for providing overall management and direction for the Risk Management and Governance sub-function. Is responsible for the identification, assessment, and measurement of risks across the enterprise. Directs the development and implementation of strategic objectives for both the centralized governance and line of business risk management areas within risk management (ERM), in accordance with the company's strategic plans. Partners with lines of business and key functional areas to promote the criticality of effective risk management across all processes and functions and to build a strong risk culture at CNA.

Essential Duties & Responsibilities
Performs a combination of duties in accordance with departmental guidelines:

1. Implements the strategic plans and operational programs for the Risk Management and Governance sub-function for CNA with the goal of advancing the risk culture of the company and driving effective risk management across the enterprise. Has influence over the future strategy of the Risk Management and Governance sub-function to achieve functional objectives.
2. Leads, directs, and has full management accountability for professionals overseeing the risk management and governance of lines of business and functional areas. Exercises control over sizeable resources, policy formulation, and planning of the sub-function (and sometimes the overall Risk function) to ensure the achievement of mid-term objectives.
3. Maintains and promotes an advanced understanding of risk factors impacting lines of business and functional areas and develops appropriate controls and measures to mitigate risk; advises business partners on effectiveness of controls and opportunities to improve the control environment.
4. Also oversees a team that provides a centralized governance structure and risk framework in support of ERM’s responsibility; includes organization and administration of risk committees (commercial, specialty, credit, and model), risk appetite and tolerance setting, oversight for risk metrics reporting, development and execution of annual ORSA reporting and related Supervisory College documentation, and other advanced and specialized analyses (rating agency preparation), as needed including quarterly risk and governance updates for the CNA Audit Committee and the Enterprise Risk Committee.
5. Leads CNA’s ESG (environmental, social, and governance) efforts as a member of the ESG task force. Works collaboratively with other business leaders to advance and communicate CNA’s ESG efforts, and acts as project leader with respect to organizing and facilitating sub-committee work efforts related to ESG.
6. Establishes collaborative relationships and partners with lines of business and key functional areas to ensure the ongoing identification, assessment, control, and measurement of the universe of risks across the enterprise; acts as a critical partner and skilled influencer who can modify the beliefs and opinions (including risk appetite and tolerances) of their teams and other peers across CNA to create a strong risk culture. Influences business leaders to address critical internal and external risk issues.
7. Partners with Compliance and Internal Audit to complete the annual Risk Assessment Process as outlined in our ERM framework documents. Will own the process for implementation of a GRC (global risk and compliance) software tool to be utilized by all first line areas (business, IT, Claims, HR, Ops, etc.) once a decision is made to move forward with a GRC tool.
8. Partners with Capital Modeling on the development, enhancement, and promotion of a Risk and Return framework that can be utilized across the enterprise and in support of critical business (underwriting) and key strategic decision-making as well as being involved with reinsurance optimization projects where applicable.
9. Collaborates with Exposure Management on the advancement of capabilities to understand and resolve highly complex and unusual aggregations of risks, including current models (e.g. natural catastrophes) and other areas of increased focus (e.g. Cyber, Casualty Cats). Jointly presents information and analysis to business partners to inform, educate, and influence control strategies and measures to properly mitigate risk.
10. Works on other strategic projects as agreed, such as Model Risk Management, Emerging Risk Management, and support of the various underwriting Product Boards.

May perform additional duties, initiatives, and analyses as assigned.

Reporting Relationship
Typically reports to VP or above.

Skills, Knowledge & Abilities

1. In depth knowledge of Risk Management and Governance theories and principles couples with a strong business acumen.
2. Requires advanced communication and strong influencing skills to modify the beliefs and opinions of Risk Management and Governance teams and other peers/teams across CNA (including lines of business and key functional areas).
3. Has strong leadership and management skills demonstrating integrity and professionalism and accountability; has the ability to influence business leaders to sell the risk management vision and to address critical internal/external risk issues.
4. Ability to lead the resolution of complex or unusual enterprise risk problems. Requires complex judgements and solutions based on advanced and sophisticated analytical though to compare and select complex alternatives and develop sub-functional business plans.
5. Requires senior level knowledge of the P&C insurance industry, its products and services, in order to contribute to the commercial objectives of the business.
6. Knowledge of Microsoft Office Suite and other business-related software.

Education & Experience

1. Bachelor’s degree in Finance, Business, Actuarial Science, or related field required.
2. Typically a minimum of seven to ten years of related work experience, with five years of management experience.
3. Applicable certifications preferred.

Job

 Finance and Accounting

Primary Location

United States-Illinois-Chicago

Other Locations

United States

Organization

 ERM-Risk & Governance