Operational Risk Manager

At Allstate, great things happen when our people work together to protect families and their belongings from life’s uncertainties. And for more than 90 years our innovative drive has kept us a step ahead of our customers’ evolving needs. From advocating for seat belts, air bags and graduated driving laws, to being an industry leader in pricing sophistication, telematics, and, more recently, device and identity protection. 

Job Description

The Operational Risk Manager leads the strategic initiative to provide risk/return expertise to the organization. This role has deep insights across business/functional areas to challenge and report. This role is responsible for implementing and influencing the Enterprise Risk and Return Management (ERRM) frameworks across Allstate. The ERRM framework consists of tools, standards, and risk processes through which directs and assists Market Facing Businesses and Areas of Responsibility to identify and assess risk, mitigate risk in accordance with appetite and analyze and understand the risk environment overall.

KEY RESPONSIBILITIES

• Build and maintain strong working relationship with 1st Line leadership, including support areas (Allstate key functions such as Product, Operations, Service Delivery, Claims and Allstate subsidiaries including National General Insurance company)
• Educate and empower 1st Line to drive risk and return and increase 1st Line accountability
• Develop a holistic view of risk and return, apprised of business strategies, results and challenges. Considered an extension of 1st Line leadership teams and advise ERRM leaders on risk profile of relevant areas/initiatives
• Serve as a trusted risk advisor, respond to 1st Line risk and return needs. Support with consistent application of the risk frameworks and facilitate risk and return decisions and risk-based prioritization
• Add value to the 1st Line and CRO by proactively delivering a consistent and holistic view of risk and return
  • Lead risk and return reviews in targeted areas of risk and provide risk consulting on complex or cross functional topics
  • Reviews, researches, interprets, and analyzes risk data to identify trends, emerging risks, and issues.
  • Integrates information and data to form hypotheses and assumptions of future impact.
  • Responsible for effective independent challenge of first line risk management activities.
  • Accountable to escalate and report significant issues.
• Influences the appropriate management of risk, including: monitoring, reporting, and an escalation structure to optimize risk and return.
• Communicates to leadership, this includes preparing information to the Operational Risk and Return Council and Enterprise Risk and Return Council.
• Contributes to or leads strategy initiatives for the enterprise risk and return management program.

SUPERVISORY RESPONSIBILITIES

• This job may have supervisory duties.

EDUCATION AND EXPERIENCE

• 4 year Bachelors Degree (Preferred)
• 7 or more years of experience, with at least 2 years of experience leading risk initiatives and cross-functional projects (Preferred)
• 2+ years of experience and understanding of property and casualty insurance industry (Preferred)
• In lieu of the above education requirements, an equivalent combination of education and experience may be considered.

CERTIFICATIONS, LICENSES, REGISTRATIONS

• Risk Certifications (RMA, PRMIA, GARP, ERMA, IMA, ISACA, CIA) (Preferred)

FUNCTIONAL SKILLS

• Strong understanding of risk and governance, including experience in risk control design and effectiveness reviews
• Qualitative and quantitative risk and control analysis
• Experience in one or more key operational risk categories (model risk management, AI, business continuity, vendor, data governance, privacy, technology, cyber, fraud), internal audit, or other operational risk area within Allstate
• Highly developed relationship management, influencing and leadership skills
• Program/project management
• Strong organizational, verbal, and written communication skills
• Ability to lead and influence across multiple levels

Skills

Business Risks, Customer Centricity, Digital Literacy, Emerging Risks, Inclusive Leadership, Learning Agility, Mitigated Risks, Operational Risks, Results-Oriented, Risk Framework, Risk Management

Compensation

Compensation offered for this role is $92,560.00 - 166,465.00 annually and is based on experience and qualifications.

The candidate(s) offered this position will be required to submit to a background investigation.

Joining our team isn’t just a job — it’s an opportunity. One that takes your skills and pushes them to the next level. One that encourages you to challenge the status quo. And one where you can impact the future for the greater good.  

You’ll do all this in a flexible environment that embraces connection and belonging. And with the recognition of several inclusivity and diversity awards, we’ve proven that Allstate empowers everyone to lead, drive change and give back where they work and live. 

Good Hands. Greater Together.

Allstate generally does not sponsor individuals for employment-based visas for this position.

Effective July 1, 2014, under Indiana House Enrolled Act (HEA) 1242, it is against public policy of the State of Indiana and a discriminatory practice for an employer to discriminate against a prospective employee on the basis of status as a veteran by refusing to employ an applicant on the basis that they are a veteran of the armed forces of the United States, a member of the Indiana National Guard or a member of a reserve component.

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