Director of Enterprise Risk Management
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 the enterprise risk framework, risk appetite, tolerance and other elements 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 and promotes effective and ongoing communication and sharing of information to elevate 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.
- Engages 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, tracks key risk indicators and reports 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, regulatory environment, rating‑agency standards and strategic initiatives of the Health System.
- Develops and manages 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 and external environment for relevant information to facilitate risk identification and implementation of mitigation plans.
- Maintains awareness 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 and 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
- Required: N/A.
- Preferred: Certified Professional in Healthcare Risk Management (CPHRM).
Minimum Qualifications
- 7 years of Enterprise Risk Management, Legal or Health Care Administration experience, 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 an 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.
- Proficiency 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 skills.
- 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 ability.
- Adaptability and resilience.
- Strong project‑management skills and ability to establish project goals, schedules, deliverables and 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, speech clarity, legible writing, reading and logical thinking. Emotional: Fast‑pace environment, ability to handle multiple priorities, ability to adapt to frequent change.
EEO: Employer/Disabled/Protected Veteran/41 CFR 60‑1.4.
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