What are the responsibilities and job description for the Director - Enterprise Risk Management position at VCU Health?
The Director of Enterprise Risk Management is responsible for directing the VCU Health System Enterprise Risk Management (ERM) Program, including the design, implementation and oversight of the organization's enterprise risk management framework. The role will support the identification, evaluation, prioritization, management/mitigation, and monitoring of risks affecting the organization while ensuring the organization operates within legal and ethical boundaries.
Essential Job Statements
Leads the development and documentation of the ERM Program, including enterprise risk framework and enterprise risk appetite/framework/tolerance in collaboration with Senior Leadership. Fosters and builds a risk-intelligent culture.
Manages the enterprise-wide risk assessment process, including maintaining the organization's risk inventory through collaboration with leaders of each domain to develop risk mitigation strategies. Promotes effective and ongoing communication and sharing of information to escalate risk concerns.
Develops and evaluates the Health System’s approach to risk identification, management, monitoring, and communication. Facilitates the identification of risk, develops reports, and monitors ERM issues.
Engage leaders and colleagues in the practice of identifying, managing, monitoring and communicating risk across various departments and functions within the Health System, including clinical, financial, operational and strategic risk.
Monitors the effectiveness of enterprise risk management strategies, tracking key risk indicators, and reporting on risk-related issues to senior management and the board.
Develops ERM tools, practices and policies to report and analyze enterprise risk management and to facilitate the management of risk according to the Health System’s ERM framework.
Develops ERM policies and strategies based on best practices, including consideration of current developments that could impact the organization’s profile, the regulatory environment, rating agency standards, and strategic initiatives of the Health System.
Develop and manage ERM training and education for staff based on ERM principles and practices, promoting a consistent approach to risk management throughout the Health System.
Uses analytics and monitors internal/external environment for relevant information to facilitate risk identification and implementation of mitigation plans.
Understanding of best practices in ERM and operational risk. Remains aware of current developments that could impact the organization's profile and maintains communication with Senior Leadership to ensure appropriate mitigation plans are implemented.
Develops and implements enterprise risk management practices, including policy development, methodology for measuring model risk and criticality, process improvement, data standards, and documentation requirements.
Performs other duties as assigned and/or participates in special projects to support the mission of VCUHS. Accepts alternate assignments, as required to fulfill business needs.
Patient Population: N/A
Employment Qualifications
Required Education: Baccalaureate Degree in Healthcare Administration, Health Law, Public Health, or Business Administration from an accredited program
Preferred Education: Master’s Degree in Healthcare, Administration, Health Law, Public Health, or Business Administration from an accredited program
Licensing/ Certification
Licensure/Certification Required: N/A
Licensure/Certification Preferred: Certified Professional in Healthcare Risk Management (CPHRM)
Minimum Qualifications
Years and Type of Required Experience: Required: 7 years of Enterprise Risk Management, Legal or Health Care Administration, including 3 years of Management experience. Previous work experience in a complex healthcare environment and organizational operations. Experience in Corporate/Risk Governance, Risk Management, Regulatory Management, Legal, or related areas. Experience with ERM principles and methodologies. Previous work experience in developing and implementing enterprise risk management framework and strategies. Previous work experience with statistics, data collection, analysis, and data presentation
Other Knowledge, Skills and Abilities Required: Excellent Analytical skills with the ability to interpret complex data and trends and present findings to executive team. Proficient in risk management tools and software. Strong communication skills to effectively present risk information to executive leadership and board members. Ability to work cross-functionally with various departments. Leadership and Development. Strong critical thinking skills, including strategic thinking, effective analysis of data, and the ability to aggregate risk across the health system into enterprise risk. Decision-Making. Adaptability and Resilience. Strong project management skills and ability to establish project goals, schedules, and deliverables and to manage numerous complex projects.
Other Knowledge, Skills and Abilities Preferred: Experience in transformation and change leadership. Previous experience in an academic medical center environment . Experience in leading process improvement initiatives as well as teaching and coaching new leaders.
Working Conditions: Periods of high stress and fluctuating workloads may occur. General office environment.
Physical Requirements
Physical Demands: Lifting/ Carrying (0-50 lbs.)
Work Position: Sitting, Walking, Standing
Additional Physical Requirements/ Hazards
Additional Physical Requirements: N/A
Hazards: N/A
Mental/Sensory – Emotional
Mental/Sensory: Strong Recall, Reasoning, Problem Solving, Hearing, Speak Clearly, Write Legibly, Reading, Logical Thinking
Emotional: Fast pace environment, Able to Handle Multiple Priorities, Able to Adapt to Frequent Change
EEO Employer/Disabled/Protected Veteran/41 CFR 60-1.4.
Essential Job Statements
Leads the development and documentation of the ERM Program, including enterprise risk framework and enterprise risk appetite/framework/tolerance in collaboration with Senior Leadership. Fosters and builds a risk-intelligent culture.
Manages the enterprise-wide risk assessment process, including maintaining the organization's risk inventory through collaboration with leaders of each domain to develop risk mitigation strategies. Promotes effective and ongoing communication and sharing of information to escalate risk concerns.
Develops and evaluates the Health System’s approach to risk identification, management, monitoring, and communication. Facilitates the identification of risk, develops reports, and monitors ERM issues.
Engage leaders and colleagues in the practice of identifying, managing, monitoring and communicating risk across various departments and functions within the Health System, including clinical, financial, operational and strategic risk.
Monitors the effectiveness of enterprise risk management strategies, tracking key risk indicators, and reporting on risk-related issues to senior management and the board.
Develops ERM tools, practices and policies to report and analyze enterprise risk management and to facilitate the management of risk according to the Health System’s ERM framework.
Develops ERM policies and strategies based on best practices, including consideration of current developments that could impact the organization’s profile, the regulatory environment, rating agency standards, and strategic initiatives of the Health System.
Develop and manage ERM training and education for staff based on ERM principles and practices, promoting a consistent approach to risk management throughout the Health System.
Uses analytics and monitors internal/external environment for relevant information to facilitate risk identification and implementation of mitigation plans.
Understanding of best practices in ERM and operational risk. Remains aware of current developments that could impact the organization's profile and maintains communication with Senior Leadership to ensure appropriate mitigation plans are implemented.
Develops and implements enterprise risk management practices, including policy development, methodology for measuring model risk and criticality, process improvement, data standards, and documentation requirements.
Performs other duties as assigned and/or participates in special projects to support the mission of VCUHS. Accepts alternate assignments, as required to fulfill business needs.
Patient Population: N/A
Employment Qualifications
Required Education: Baccalaureate Degree in Healthcare Administration, Health Law, Public Health, or Business Administration from an accredited program
Preferred Education: Master’s Degree in Healthcare, Administration, Health Law, Public Health, or Business Administration from an accredited program
Licensing/ Certification
Licensure/Certification Required: N/A
Licensure/Certification Preferred: Certified Professional in Healthcare Risk Management (CPHRM)
Minimum Qualifications
Years and Type of Required Experience: Required: 7 years of Enterprise Risk Management, Legal or Health Care Administration, including 3 years of Management experience. Previous work experience in a complex healthcare environment and organizational operations. Experience in Corporate/Risk Governance, Risk Management, Regulatory Management, Legal, or related areas. Experience with ERM principles and methodologies. Previous work experience in developing and implementing enterprise risk management framework and strategies. Previous work experience with statistics, data collection, analysis, and data presentation
Other Knowledge, Skills and Abilities Required: Excellent Analytical skills with the ability to interpret complex data and trends and present findings to executive team. Proficient in risk management tools and software. Strong communication skills to effectively present risk information to executive leadership and board members. Ability to work cross-functionally with various departments. Leadership and Development. Strong critical thinking skills, including strategic thinking, effective analysis of data, and the ability to aggregate risk across the health system into enterprise risk. Decision-Making. Adaptability and Resilience. Strong project management skills and ability to establish project goals, schedules, and deliverables and to manage numerous complex projects.
Other Knowledge, Skills and Abilities Preferred: Experience in transformation and change leadership. Previous experience in an academic medical center environment . Experience in leading process improvement initiatives as well as teaching and coaching new leaders.
Working Conditions: Periods of high stress and fluctuating workloads may occur. General office environment.
Physical Requirements
Physical Demands: Lifting/ Carrying (0-50 lbs.)
Work Position: Sitting, Walking, Standing
Additional Physical Requirements/ Hazards
Additional Physical Requirements: N/A
Hazards: N/A
Mental/Sensory – Emotional
Mental/Sensory: Strong Recall, Reasoning, Problem Solving, Hearing, Speak Clearly, Write Legibly, Reading, Logical Thinking
Emotional: Fast pace environment, Able to Handle Multiple Priorities, Able to Adapt to Frequent Change
EEO Employer/Disabled/Protected Veteran/41 CFR 60-1.4.