Operational Risk Manager Jobs in Naperville, IL (NOW HIRING)

Job Summary

The Director, Risk Management will be responsible for supporting the execution of the risk management process for Combined Insurance Company. This position requires significant involvement with analysis and reporting of risks and key controls to mitigate operational risks to the organization. The Director, Risk Management will assume a lead role in maintaining and improving the operations risk management program to sustain superior customer service and protect Chubb's brand and reputation. This person will be responsible for supporting the effective implementation of the risk control governance framework within Combined Insurance Company to meet the requirements of the Chubb Company Board of Directors (Board); the Combined Company President; the applicable policies, standards, practices, and authorities established by the Chubb Group Risk organization; applicable legal and regulatory requirements; and applicable Insurance organization guidelines, handbooks and similar publications.

Key Responsibilities

• Strategic Risk Oversight: Lead the development, implementation, and maintenance of the Combined Risk Management Framework and Policy, ensuring alignment with Chubb's enterprise-wide governance standards and regulatory requirements.
• Operational Risk Management: Design and execute processes to assess, measure, and monitor operational risks, including conducting critical risk control self-assessments, scenario analyses, and maintaining a comprehensive event database for operational incidents.
• Crisis Management Leadership: Develop and oversee a robust operations crisis management framework to enhance organizational resilience and ensure preparedness for potential disruptions.
• Risk Reporting & Analytics: Prepare and present risk dashboards, reports, and insights to Executive Management, the Board of Directors, and the Combined Enterprise Risk Management Committee, enabling data-driven decision-making.
• Governance & Compliance: Ensure compliance with the global operations risk management program, addressing ad hoc requests from Chubb Enterprise Risk Management and other stakeholders as required.
• Collaboration & Stakeholder Engagement: Actively participate in Global Operations Risk Management Committees, fostering cross-functional collaboration to enhance risk awareness and mitigation strategies.
• Business Resilience Enhancement: Support the enhancement of the business resilience program across Combined's North American business functions, ensuring continuity of superior customer service.
• Incident Response Leadership: Provide on-call support for incident monitoring, reporting, and response, ensuring timely and effective resolution of operational disruptions.

Key Competencies 

• Strategic Communication: Exceptional ability to communicate complex risk concepts clearly and effectively to diverse audiences, including senior executives and cross-functional teams.
• Decisive Leadership: Demonstrated ability to make timely, sound decisions under pressure, balancing risk and opportunity.
• Analytical Excellence: Strong critical thinking and problem-solving skills, with the ability to analyze complex data and identify actionable insights.
• Team Development: Proven ability to inspire, mentor, and develop high-performing teams, fostering a culture of accountability and continuous improvement.
• Results-Driven: A relentless focus on achieving measurable outcomes, driving initiatives to successful completion.

 Requirements

• Bachelor's degree required; advanced degree preferred.
• Professional Certification in risk management, audit and/or control practices - Certified Risk Professional (CRP), Certified Business Continuity Professional (CBCP), Certified in Risk and Information Systems Controls (CRISC), Certified Information Systems Auditor (CISA), Certified Information Systems Security Professional (CISSP), Certificate in Risk Management Assurance (CRMA), Certified Internal Auditor (CIA), Operations Risk Manager (ORM) or related certifications
• Demonstrated expertise in a Risk, Audit or Compliance role relating to an insurance business
• Clear understanding of Company activities and the risks inherent in those activities including potential conflicts of interest in transactions with or involving affiliates
• Hands-on leader with a proven track record of driving risk management initiatives and influencing stakeholders at all levels of the organization.
• Minimum of 5 years of experience in a risk management, audit, or compliance role within the insurance industry, with a strong understanding of Accident & Health (A&H) insurance operations.

The pay range for the role is $98,400 to $167,300. The specific offer will depend on an applicant's skills and other factors. This role may also be eligible to participate in a discretionary annual incentive program.  Chubb offers a comprehensive benefits package, more details on which can be found on our careers website.  The disclosed pay range estimate may be adjusted for the applicable geographic differential for the location in which the position is filled.