Chief Risk Officer

For more than 170 years, The Hanover has been committed to delivering on our promises and being there when it matters the most. We live our values every day, demonstrating we CARE through our values, ESG initiatives and IDE journey.

Our Finance department is seeking a Chief Risk Officer to join our team. 

Position Overview:

• Reporting directly to the Chief Financial Officer, this position will be responsible for providing company-wide strategic and tactical leadership in establishing the organization’s enterprise risk management framework including risk governance, risk monitoring, risk appetite statements and associated risk tolerances, risk measurement and modeling and risk strategy. 

• The Chief Risk Officer works in close cooperation with functional leaders and executive team peers across the organization to help drive business growth, achievement of strategic goals and maintain a balanced risk/reward framework. This individual is a member of the Audit Committee of the Board and will be responsible for effective risk identification, communication and influencing mitigation strategies for all major sources of risk including insurance, market, counterparty credit, operational, investment, cyber and strategic risks for the organization.

Responsibilities/Essential Functions:

Risk Vision & Appetite:

Evolves a risk strategy and provides thought leadership on risk appetites, risk tolerances, and control framework for monitoring and analyzing risk.

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Risk Governance**:

Embeds risk management best practices, risk culture and risk reporting to influence decision making through providing visibility to organization’s risk profile using foresight and considering emerging issues.

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Risk Processes**:

Establishes and executes on operational risk management frameworks to quantify and model inherent and residual risk and provides oversight of catastrophe modeling function. Effectively evaluates risk aggregations, establishes tolerances, and performs stress and scenario tests to identify exposure to black swan events and evaluate adequacy of held capital.

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Technology Enablement:**

Leverages available tools and technologies to automate risk management activities, including risk assessments, risk reporting, issue management, monitoring/testing and policy administration

Talent Development:

Attracts, retains, and develops talent to ensure we have a strong enterprise risk management organization

Required Skills and Experiences:

• 15+ years of experience owning a risk function (e.g., enterprise risk management, cybersecurity, internal controls) in a property & casualty company
• Strong decision-making, communication, and collaboration skills, including the ability to work effectively with others at all levels and business functions (e.g., finance, IT, HR, audit) across the organization and to convey risk management concepts in a manner that can be understood by non-risk professionals.
• Capacity for providing strategic thought and intellectual leadership both internally and externally while simultaneously effectuating change on a granular basis
• Well-developed analytical and creative problem-solving skills, as well as flexibility and adaptability are of key importance; able to analyze and present complex data or information in a clear, concise and effective manner
• Well versed in financial reporting, actuarial processes including pricing and reserving, catastrophe models, regulatory capital models as well as economic capital models; able to leverage data to support a hypothesis and influence financial planning and risk strategy
• Understands insurance company operations across all major business functions and able to connect current and emerging risks to appropriate risk owners supporting assessment of inherent risk, risk mitigation actions and residual risk

CAREER DEVELOPMENT:

It’s not just a job, it’s a career, and we are here to support you every step of the way. We want you to be successful and fulfilled. Through on-the-job experiences, personalized coaching and our robust learning and development programs, we encourage you – at every level – to grow and develop.

BENEFITS:

We offer comprehensive benefits to help you be healthy, build financial security, and balance work and home life. At The Hanover, you’ll enjoy what you do and have the support you need to succeed.

Benefits include:

• Medical, dental, vision, life, and disability insurance
• 401K with a company match
• Tuition reimbursement
• PTO
• Company paid holidays
• Flexible work arrangements
• Cultural Awareness Day in support of IDE
• On-site medical/wellness center (Worcester only)
• Click here for the full list of Benefits

EEO statement:

The Hanover values diversity in the workplace and among our customers.  The company provides equal opportunity for employment and promotion to all qualified employees and applicants on the basis of experience, training, education, and ability to do the available work without regard to race, religion, color, age, sex/gender, sexual orientation, national origin, gender identity, disability, marital status, veteran status, genetic information, ancestry or any other status protected by law.  

Furthermore, The Hanover Insurance Group is committed to providing an equal opportunity workplace that is free of discrimination and harassment based on national origin, race, color, religion, gender, ancestry, age, sexual orientation, gender identity, disability, marital status, veteran status, genetic information or any other status protected by law.” 

As an equal opportunity employer, Hanover does not discriminate against qualified individuals with disabilities.  Individuals with disabilities who wish to request a reasonable accommodation to participate in the job application or interview process, or to perform essential job functions, should contact us at: [email protected] and include the link of the job posting in which you are interested.

Privacy Policy:

To view our privacy policy and online privacy statement, click here.  

Applicants who are California residents: To see the types of information we may collect from applicants and employees and how we use it, please click here**.
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