VP of Risk Management

Description

OVERVIEW OF THE POSITION

A successful candidate will bring respect for the company and culture and a track-record for exceeding expectations. They will create buy-in and trust through their low-ego, servant leadership approach and interest in developing the organization and its people.

• As Baldor moves into a new chapter of growth the Vice President of Risk Management will be responsible for the leadership, innovation, governance and management necessary to identify, evaluate, mitigate and monitor Baldor's operational and strategic risk. The VP of Risk working in close coordination with executive management will develop and oversee a comprehensive risk program that operates within the organizations risk appetite and regulatory requirements and supports the strategic direction of the company.
• Baldor Specialty Foods has a long legacy of quality, consistency, and service. The company was founded by the former Owner and Chief Executive Officer, Kevin Murphy. Kevin's son, TJ Murphy, has been the Owner and Chief Executive Office since 2013. Under the leadership of TJ in the last seven years, Baldor has achieved consistent double-digit growth in addition to geographic, category, product and channel expansion.

Major Responsibilities

• Coordinating and directing all compliance and claim administration activities.
• Budgeting, Forecasting and Projecting all insurance program costs.
• Build a successful, high-functioning and best in class safety and risk team.
• Be part of the current and future strategic planning and lend a sound financial voice to those conversations.
• Collaborate with VP Legal and VP Finance to manage claim litigation, costs and overall insurance program costs.
• Placement of all insurance lines and analysis of costs associated with alternate types of programs (Captives, Self-insured retentions, high deductible programs, etc.)
• Ensure that enterprise level key risks are identified and managed through effective practices and policies that support the organizations operating objectives.

• Collaborate with senior executives to establish and implement procedures and controls that enhance and integrate risk management capabilities across all divisions.

• Develops frameworks for refining enterprise risk measurements and visualizations.

• Provide updates to the C-suite and leadership teams regarding claim litigation and Risk Management initiatives.
• Provide leadership and strategic guidance to support the establishment and maintenance of effective and innovative claims and risk management functions.
• Oversees management of the Workers Compensation team including claims, third party relations, education, safety and return to workprograms.

Risk Analytics

• In collaboration with the VP of Finance provides professional leadership to support the actuarial and analytics work of the team.
• Provide strategic and conceptual direction on visualization of actionable data for enterprise use.
• Develop peer group benchmarks for limits, retention and total cost of risk.

• Create and maintain business continuity plans to mitigate and reduce risk.
• Create a culture of safety across the organization and employee population

Experience Profile:

• Bachelor's and a Master's Degree
• Minimum 10+ years of experience in risk management
• High level of engagement in a fast paced, 24/7 environment
• Excellent communication skills with internal and external stakeholders
• Proficient understanding of business sensitivities and confidentialities
• Track-record of working as a true leader with the ability to communicate risk and safety matters in an understandable format and make recommendations.
• Ability to supervise and mentor staff
• Exceptional organization and attention to detail
• Deep knowledge of risk management.
• Analytical skills, problem-solving and critical thinking skills
• Forward thinker that can develop plans for department needs to keep up with company growth.

KEY SELECTION CRITERIA

• Additional Responsibilities
• Risk Management Tasks
• General Responsibilities

Summary

• Key Attributes Desired for Success: Authentic Leadership: The VP Risk will provide risk management leadership throughout the organization and needs to be approachable by all. An inspiring leader who communicates passion, energy and excitement with high emotional intelligence and equally sound intellectual intelligence, this individual must have high credibility, integrity, adaptability and is able to quickly establish rapport and build productive relationships in any given situation.Character and Personality:
  • Entrepreneurial - Likes to build; not adverse to risk
  • Connector - Ability to motivate and direct a disperse workforce from a distance and in meetings
  • Productive Problem-Solver -Ability to "get things done"
  • Tenacious -Views challenge as opportunity
  • Data Driven - Speaks with facts, data and the truth.
  • IQ/EQ -Balances intellect with interpersonal skills; articulate and engaging
  • Listener - Is curious, listens and asks questions
  • Low-Ego - No task is too small; operates effectively in a family-owned organization
• Commitment to Cross-Functional Collaboration: Proactive communicator with a keen sense of how to connect with people and build trust though all levels of the organization. This individual must understand the complementary roles and priorities of each function to create collaboration and teamwork across organizational boundaries. This executive will provide strong leadership to ensure the focus is on key priorities.
• Respected and Valued Business Partner: Strong business acumen with a broad understanding of risk and safety, fundamental business principles and possessing good judgement and decision making, while enjoying complex problem solving utilizing critical thinking and coordination