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Director Insurance & Risk Management Jobs in Richmond, VA

ODEC

Enterprise Risk Manager

Glen Allen, VA · On-site

This position ensures compliance with ODEC's Energy Risk Management Policy (ERMP) and Energy Risk ... Insurance Program Support * Develop working knowledge of ODEC's property and liability insurance ...

Capital One

Manager, Risk Advisor

Richmond, VA · On-site

The Risk Management (RM) Business Risk Office is seeking a highly motivated Risk Manager to apply ... Manage internal audits and regulatory exams directed to and/or impacting ORM * Facilitate and lead ...

Capital One

Manager, Cyber Risk & Analysis

Richmond, VA · On-site

This position reports to the Tech & Cyber Risk Director within the Retail Bank. Responsibilities ... Influence updates to policies, standards, control description to enhance risk management activities.

Truist

ORMP Risk Officer II - Fraud

Richmond, VA · On-site

... of management experience that includes direct supervisory responsibility. 4. Possess and ... Truist offers medical, dental, vision, life insurance, disability, accidental death and ...

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All JobsInsurance & Risk Management JobsDirector Insurance & Risk Management JobsDirector Insurance & Risk Management Jobs in Richmond, VA

Director Insurance Risk Management information

See Richmond, VA salary details

$53.4K

$141.7K

$257.3K

How much do director insurance & risk management jobs pay per year?

As of Aug 17, 2026, the average yearly pay for director insurance & risk management in Richmond, VA is $141,700.00, according to ZipRecruiter salary data. Most workers in this role earn between $104,400.00 and $165,800.00 per year, depending on experience, location, and employer.

What is a director insurance & risk management?

A Director of Insurance & Risk Management is responsible for overseeing an organization's insurance programs and risk management strategies. They assess potential risks, develop policies to mitigate them, and ensure compliance with regulations. Their role includes negotiating insurance coverage, managing claims, and advising executives on financial and operational risks. This position requires strong analytical skills, industry knowledge, and the ability to implement risk-reduction strategies effectively.

What are the key skills and qualifications needed to thrive in the director insurance & risk management position?

To thrive as a Director Insurance & Risk Management, you need expertise in risk assessment, insurance portfolio management, and financial analysis, typically supported by a degree in finance, business, or related fields. Familiarity with risk management information systems (RMIS), claims management software, and professional certifications such as CPCU or ARM is highly advantageous. Strong leadership, negotiation skills, and the ability to communicate complex concepts to non-experts help you stand out in this position. These skills are vital to effectively identify, mitigate, and manage organizational risks while safeguarding company assets and ensuring regulatory compliance.

What are the typical challenges faced by a director insurance & risk management, and how can you address them?

Directors of Insurance & Risk Management often face challenges such as balancing cost control with adequate insurance coverage, staying updated on evolving regulations, and managing claims efficiently. Addressing these challenges requires proactive risk assessment, close collaboration with internal stakeholders, and building strong relationships with brokers and insurance carriers. Successful professionals in this role remain adaptable to shifting business landscapes and continuously seek out innovative risk mitigation strategies. Utilizing data-driven insights and effective communication within cross-functional teams can also help overcome common hurdles in the role.

What are popular job titles related to Director Insurance & Risk Management jobs in Richmond, VA?

For Director Insurance & Risk Management jobs in Richmond, VA, the most frequently searched job titles are:

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The top searched job categories for Director Insurance & Risk Management jobs in Richmond, VA are:

What cities near Richmond, VA are hiring for Director Insurance & Risk Management jobs?

Cities near Richmond, VA with the most Director Insurance & Risk Management job openings:

Director Insurance Risk Management jobs near you
Infographic showing various Director Insurance & Risk Management job openings in Richmond, VA as of August 2026, with employment types broken down into 1% As Needed, 74% Full Time, 20% Part Time, and 5% Contract. Highlights an 90% Physical, 1% Hybrid, and 9% Remote job distribution, with an average salary of $141,700 per year, or $68.1 per hour.

Enterprise Risk Manager

ODEC

Glen Allen, VA • On-site

Full-time

Re-posted 28 days ago

Job description

Purpose of Job
The Enterprise Risk Manager is responsible for identifying, evaluating, and mitigating operational and financial risks across the organization, with a primary focus on energy trading and market risk activities. This role oversees trading agreement risk, counterparty credit risk, and trading control risk through the use and oversight of services provided by a trading and risk management company.
This position ensures compliance with ODEC's Energy Risk Management Policy (ERMP) and Energy Risk Management Standards and Procedures (ERMS&P), while supporting broader enterprise risk initiatives across the Finance function. This role assists in organizing and facilitating the Risk Management Committee (RMC) and provides risk insights, analysis, and recommendations to support informed decision-making and organizational risk mitigation.
Essential Responsibilities
Risk Management Operations Functions
  • Monitor and manage risk exposures related to power and natural gas operations, including PJM/RTO activities, collateral adequacy, and market activity.
  • Track natural gas hedging activity and evaluate key market drivers impacting margin settlements.
  • Review collateral thresholds and respond to potential margin calls in coordination with the services provided by a trading and risk management company.
  • Evaluate and monitor counterparty credit risk, including financial health, credit exposure, and compliance with established credit controls.
  • Support credit risk mitigation strategies, including guarantees, prepayments, and letters of credit.
  • Ensure compliance with trading controls, transaction authority limits, and proper trade capture and reporting.
  • Evaluate and escalate or recommend actions on trading activities, credit exposures, and risk limit exceptions.
  • Participate in risk management activities associated with the services provided by a trading and risk management company and PJM.
  • Prepare, review, and present risk management reports and analyses to leadership and the RMC.
  • Monitor compliance with regulatory requirements, including CFTC Dodd-Frank rules.
  • Support and administer enterprise risk assessments.
  • Performs other duties as assigned.

Risk Compliance
  • Maintain and update SOX-related risk processes and documentation.
  • Review SOC 1 Type II reports for services provided by a trading and risk management company and other key partners.
  • Ensure appropriate internal controls are documented and functioning.
  • Communicate with counterparties concerning "Know Your Customer" and other risk-related questions and initiatives.

Insurance Program Support
  • Develop working knowledge of ODEC's property and liability insurance programs.
  • Assist with maintaining insurance programs.

Additional Responsibilities
  • Collaborate with Treasury on credit exposure and financial risk considerations.
  • Provide general support to the Finance Department initiatives.
  • Participate in company committees and cross-functional initiatives.
  • Lead or contribute to cross-functional efforts.

Work Experience
  • Minimum of 10 years of risk management, finance, power supply, investment, or derivative trading and/or accounting, relevant experience.
  • Utility or energy sector experience preferred.
  • Experience with external service providers supporting energy trading, market operations, or risk management preferred.

Critical Knowledge, Skills, and Abilities
  • Energy trading agreements (ISDA, NAESB, EEI).
  • Energy risk management practices.
  • Energy trading products.
  • Financial and commodities markets.
  • Advanced Excel and Microsoft 365 proficiency.
  • Strong analytical and problem-solving skills.
  • Effective communication and collaboration skills.
  • Ability to interpret complex data.
  • Self-starter with a continuous improvement mindset.
  • Ability to influence without authority.

Preferred Knowledge, Skills, and Abilities
  • PJM market familiarity.
  • SOX and Dodd-Frank knowledge.
  • Risk governance experience.
  • ETRM systems experience.

Education
  • Bachelor's degree in Accounting, Finance, Economics, Business, Risk Management, or a relevant degree.
  • Equivalent experience may be considered.

Travel Details
Occasional travel required (less than 10%).
Working Conditions and Physical Demands
This position operates in a professional office environment and involves routine use of standard office equipment, including computers, phones, and other technology. This role requires the ability to perform general office activities such as sitting for extended periods, working at a computer, and communicating effectively with internal and external stakeholders. Travel for this position is minimal and expected to be less than 10%, consisting of occasional meetings or visits to company facilities. Requires focus on analytical tasks.
Equal Opportunity Employer
This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.

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