Enterprise Risk Officer

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Job Summary

Under the direction of the Director of Risk & Investment Operations, the Enterprise Risk Officer (ERO) will measure and monitor risk across the entire TRS organization by evaluating internal controls, reporting on internal control reviews and internal risk assessments, as well as the improvement of control activities. The ERO will assist risk owners in the identification of strategic and emerging risks that could negatively impact TRS functions and ability to meet its objectives. The ERO will also assist in the evaluation of risk mitigation steps to ensure acceptable levels of risk given the strategic objectives of the organization.

This position requires a thorough knowledge of general risk principles, with particular emphasis on Enterprise Risk Management (ERM). The ERO is an agency expert for ERM functions and is responsible for assisting TRS leadership and subject matter experts with evaluating internal controls against associated business processes. The ERO will assist with assessing risks of internal control activities and report the results of these functions to various leaders of the organization including the TRS Board of Trustees. The ERO will also be responsible for the implementation, maintenance, and monitoring of ERM best practices, including education of TRS staff on principles of ERM. The incumbent will utilize internal and external functions to perform quantitative and qualitative assessment of the health of the TRS organization.

Essential Functions

• Design, implement and maintain structures for ERM, including oversight, frameworks, education, management reporting, and representation of TRS with external organizations.
• Lead Executive Team efforts to set the risk appetite, identify enterprise risk gaps, prioritize risks and mitigation efforts, and report the status of these efforts to leadership.
• Work with risk owners and leaders to coordinate agency efforts in the evaluation of internal controls and improving control activities. Foster a culture of strong risk mitigation and effective risk management through the development and sharing of best practices and contemporary tools/techniques and training.
• Coordinate and report on the ERM efforts, risk mitigations, and risk category updates to the TRS Board of Trustees.
• Provide consultation, analysis, and technical support to the Director of Risk & Investment Operations and other TRS staff on ERM matters.
• Assist risk owners in identifying key risk indicators to successfully mitigate risks that could jeopardize the agency meeting its objectives. More specifically this would include:
• Identification of significant business objectives
• Establishment of risk tolerances, and ERM risk appetites
• Analysis and documentation of risk controls and ERM risk assessments
• Curriculum development for risk controls and ERM training
• Development of risk review teams for risk categories
• Reporting on ERM status and risk categories as requested
• Lead the ERM committee meetings and communicate risk-related concerns to the Director of Risk & Investment Operations and TRS executive leadership, as appropriate.
• Assist with ongoing development and maintenance of ERM related reports for staff, internal risk operating committees, and Board meetings.
• Maintain awareness of current and potential emerging risks that may impact TRS. Provide education to staff and trustees in support of developing a risk-aware culture at TRS.
• Provide information and documentation to auditors when requested and analyze the results of related audits.
• Develop, update, and monitor ERM related policies.
• Assist with special projects and perform other duties as assigned.
  

Knowledge, Skills, Abilities

• Ability to work effectively with TRS staff, consultants, third-party vendors, and the Board of Trustees
• Demonstrates excellent judgement and decision-making skills
• Exceptional verbal, written, and interpersonal communication skills with the ability to adapt messaging to diverse audiences and contexts
• Must apply a high level of independent judgment in evaluating, drawing conclusions, and reporting on the risk levels related to organizational goals and objectives
• Possess strong quantitative and technical analysis skills
• Proficient in the use of Microsoft Office and familiarity with risk-based tools and measurements
• Ability to operate independently and routinely exercise discretion in performance of the duties of the position
  
  

Minimum Requirements

• Bachelor’s degree in risk management, insurance, business administration, accounting, or similar field of study.
• Three (3) years of experience in ERM or auditing, or experience in development and implementation of risk assessments, business processes, information system auditing, or compliance controls Knowledge of current laws, regulations, executive orders, and best practices regarding ERM and the ability to communicate these effectively throughout the organization.
• Excellent written and verbal communication skills.
• Ability to build a consensus across various constituencies and achieve results through the efforts of others. Strong planning and organizational skills.
• CPA, CRM, or ARM preferred
  
  

Please note: That the salary range listed for this position is based on the Springfield, IL market. Final compensation will be adjusted to reflect cost-of-living differences for other TRS locations.

If you thrive in a dynamic environment and enjoy collaborating with driven, enthusiastic professionals, you will find a rewarding career with us.

For Illinois Job Seekers

Pay Range

$123,261.52 - $192,288.00

Compensation will be determined based on the qualifications and experience of each candidate.

Benefits

TRS is an agency of the State of Illinois. As such, full and part-time employees are eligible for the State of Illinois comprehensive benefits program which includes medical, dental and vision coverage. All employees participate in the TRS retirement pension plan and have the option to contribute to additional State of Illinois deferred compensation plans. The TRS pension plan is a reciprocal system to other state and local pension plans (SERS, SURS, IMRF, etc.)