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CNO Financial Group Vice President Enterprise Risk Management in Carmel, Indiana

Vice President, Enterprise Risk Management

A key leader to the enterprise, the VP of Enterprise Risk Management (ERM) is charged with leading enterprise risk management across the enterprise. CNO is enhancing its ERM capabilities consistent with the growing importance in the Insurance industry to formalize enterprise risk management processes into a comprehensive enterprise-wide framework that will facilitate a more efficient governance structure and promote strategic value through improved decision making. The candidate will develop and execute the strategy for advancing ERM within CNO Financial, enhancing the risk culture of the enterprise, defining the enterprise-wide framework for risk management and governance, facilitating deep dive analysis of high priority risks, and ensuring adherence to strong risk management practices. S/he will be responsible for partnering with the Enterprise Risk Management Committee (ERMC) and enterprise and business unit leaders to assess, quantify, aggregate, and mitigate exposures through the identification of strategic, material, emerging, and reputational risks, and evaluate alignment with risk strategy and appetite.

Key Job Responsibilities and Accountabilities:

  1. Drives the continued development and building of a risk management culture through coordination and educational activities that emphasize the importance of risk management in all aspects of business operations and corporate decision making

  2. Leads staff and risk owners across the enterprise in the identification, monitoring and reporting of key risks (i.e., credit, insurance, market, operational, etc.) and expands risk controls where appropriate

  3. Oversees the annual risk management cycle of risk identification and assessment, risk appetite development, risk monitoring and measurement, and risk reporting

  4. Oversees the development and filing of the annual Own Risk and Solvency Assessment (ORSA) report, implementing improvements to the content and process of developing the ORSA and ensuring that the ORSA is aligned with CNO’s risk management practices and business strategy

  5. Monitors emerging best practices around ERM in the insurance industry and other industries to identify areas of improvement, develop a plan and execute desired improvements in our ERM capabilities

  6. Monitors operational, regulatory, and legal developments, assesses impacts and provides oversight to ensure emerging risks are effectively communicated to management and corrective actions are implemented

  7. Partners with actuaries and other subject matter experts in the organization on the development and execution of key risk models, including stress testing analysis

  8. Oversees the team that performs internal and external risk assessments, risk tracking and monitoring of remediation efforts for operational, regulatory and compliance risks

  9. Provides critical analysis of significant potential emerging risks, extreme events, capital management threats and other high priority risks for the organization

  10. Owns the quarterly ERMC forum and month Senior Leadership Risk Forum (SLRF), which are the primary forums for engaging the Executive Leadership Group and Senior Leadership Group on risk topics

  11. Represents the risk management function in departmental and cross-functional meetings across the enterprise to ensure alignment with enterprise risk management strategies and goals

  12. Works with executive and senior leaders across the organization to provide a risk-informed perspective on key strategic decisions and business operations, including support for specific large projects

  13. Provides direction and executional oversight for all aspects of business continuity management (BCM) and drives improvements in CNO’s BCM program to keep current with industry best practices and changes to the organization

  14. Provides oversight for the Crisis Response Team (CRT) and plays a key leadership role during crisis events

  15. Assists Chief Risk Officer with the development of materials for the Board of Directors on ERM and BCM topics

  16. Oversees the Director of Model Governance, charged with developing a model risk inventory, framework and governance processes for financial and actuarial models

Skills, Knowledge, and Abilities:

  1. Ability to successfully interact with an influence all levels of the organization including EVP / SVP level to develop and communicate CNO’s ERM and BCM vision and strategy and to drive required action to execute the program at all levels of the organization

  2. Extremely strong written and verbal communication skills and ability to translate technical information into compelling presentations

  3. Prior experience with ERM and deep knowledge of ERM leading practices for the insurance industry

  4. Life and Health product knowledge and an understanding of insurance industry dynamics and practices (financial, operational and strategic)

  5. Proven success presenting to senior management, Board members, rating agencies and regulators

  6. Strong leadership and people management skills, with emphasis on motivation and collaboration

  7. Effective change manager, able to overcome resistance and build commitment

  8. Highly organized and detail-oriented; able to manage multiple workstreams and balance competing priorities

  9. Ability to navigate and lead through uncertainty and ambiguity

Education and Experience:

  • BS Degree in Finance, Accounting, Actuarial Science or related field

  • 12+ years of risk management exp (significant financial reporting exposure)

  • 7+ years managing and developing a professional level team

  • Prior experience in risk management for the life insurance industry preferred

  • CERA, PRMA or other risk-related certifications preferred

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