Who We Are
Chesapeake Employers’ Insurance Company is a purpose-driven organization dedicated to improving the lives and livelihoods of our policyholders, injured workers, team members, and the community. As a leading workers’ compensation specialty insurer in the mid-Atlantic region, we take pride in being a force for good. Our 350 team members are committed to making a positive impact every day in the lives of all our stakeholders. Join our motivated, professional team as we foster a culture of values, teamwork, innovation, and collaboration. Established in 1914, Chesapeake Employers Insurance, headquartered in Towson, Maryland, has over a century of experience, a strong financial foundation, and an “A” rating from AM Best.
Position Summary
The Director of ERM is responsible for providing the overall leadership, vision, direction, and execution of Enterprise Risk Management (ERM) at Chesapeake Employers. The ERM function is responsible for working across the company to establish and operate a sustainable risk management program that supports the continued growth and improvement of the company and aligns with the regulatory expectations and requirements of the organization. The Director of ERM reports directly to the Chief Data & Analytics Officer who leads Actuarial & Business Analytics, Underwriting, Safety Services and Premium Audit. This position will be based in Towson, Maryland.

Duties and Responsibilities

• Provides leadership and management direction within the ERM program, including identifying areas for improvement and executing strategies to strengthen the overall program.
• Develops and enhances ERM policies and practices.
• Builds relationships and partners with business risk and control owners to collaboratively identify and develop effective risk management and controls.
• Defines the risk appetite and tolerance statement and confirms annually with the Board and Executive Management.
• Works across the organization to leverage expertise in establishing risk metrics and reporting that describe key risk exposures and early warning indicators for Executive Management and the Board.
• Leads ERM relationships across the enterprise, including liaising and consulting with executives to enhance risk culture and provide an effective challenge to risk ownership activities.
• Leads the identification, prioritization, and quarterly communication to Board Committees of the organization’s top existing and emerging risks, including management and reporting of Key Risk Indicators (KRIs).
• Maintains a high-level view of the enterprise risk portfolio and advising executives and Board members on risk exposure, risk management and organizational resilience,
• Oversees development and implementation of the organization’s Business Continuity Planning (BCP) efforts through coordination with the operational departments. Ensures risks related to emergency response, crisis management, disaster recovery, business resumption, and disruptions to company operations are adequately considered and addressed by our ERM Team. The BCP helps ensure that the organization is prepared to act effectively in the case of a crisis.
• Oversees development and implementation of the organization’s Business Impact Analysis (BIA) efforts through coordination with the operational departments. Ensures the organization’s readiness to respond to various disaster scenarios with minimal interruption to its core business functions. This includes considerations such as the probability of various disaster scenarios, the financial impact, and reviewing the mitigation plans put in place to help ensure Chesapeake’s ability to recover from a disaster in a timely manner.
• Provides leadership and contributes significantly to the risk governance structure and operations through involvement with Executive Management and the appropriate Board Committees.
• Develops and utilizes complex models to assess the impact on company’s assets and liabilities for changes in medical inflation, catastrophic events as well as legislative,
• Performs in-depth analysis of financial and operational issues impacting the company and develop communications with senior management to discuss potential issues.
• Leads or participates in modeling required to respond to state or national issues. Lead research in industry-wide risk management issues.
• Assists in the development of business plans where required.
• Develops long-range financial projections for use in strategic analysis.
• Prepares and delivers the Own Risk Solvency Assessment (ORSA) report to A.M. Best which documents Chesapeake’s ERM Framework, provides our assessment of risk exposure, and shares our prospective solvency assessment.
• Answers any ORSA or ERM related questions from the Maryland Insurance Administration.

Skills, Education and Experience

• Significant Risk Management knowledge and experience in shaping and leading a Risk Management program required. 5+ years of ERM experience and 10+ years of insurance or financial services industry experience preferred.
• Bachelor’s degree or higher in Mathematics, Business, Information Systems, or Sciences.
• Other designations specific to ERM such as Certified Risk Management Professional, Chartered Enterprise Risk Analyst, Certified Risk Specialist, Chartered Enterprise Risk Actuary, Certified Risk and Compliance Management Professional, preferred.
• Other designations such as CPA, ACAS, FCAS, CIA, IRM, CFA, ACCA, preferred.

Positional Competencies

• Pursuing Excellence
• Making a Difference
• Leadership Presence
• Maintaining Focus and Accountability
• Strategic Initiative
• Developing People

Physical Demands
While performing the duties of this job, the employee is regularly required to sit, use hands to finger, handle or feel objects, tools or controls; reach with hands and arms. The employee is occasionally required to stand, walk, stoop, kneel, crouch or crawl. The employee may occasionally lift up to 30 pounds. Specific vision abilities are required, which includes close vision, peripheral vision and the ability to adjust focus.
Work Environment
Office environment. The noise level is usually moderate.
What We Offer
We offer a competitive benefits package that includes health, vision, and dental coverage, a robust PTO plan, an 8% employer contribution to retirement regardless of team member contribution, educational assistance, and opportunities to participate in team member appreciation events. Additionally, we provide STD, LTD and group life insurance 1X a team members salary. You’ll also enjoy free tickets to community attractions, all part of our commitment to providing a high quality of work life. You will have the flexibility to thrive in a hybrid work environment and an opportunity to participate in development and volunteer programs

• Provides leadership and management direction within the ERM program, including identifying areas for improvement and executing strategies to strengthen the overall program.
• Develops and enhances ERM policies and practices.
• Builds relationships and partners with business risk and control owners to collaboratively identify and develop effective risk management and controls.
• Defines the risk appetite and tolerance statement and confirms annually with the Board and Executive Management.
• Works across the organization to leverage expertise in establishing risk metrics and reporting that describe key risk exposures and early warning indicators for Executive Management and the Board.
• Leads ERM relationships across the enterprise, including liaising and consulting with executives to enhance risk culture and provide an effective challenge to risk ownership activities.
• Leads the identification, prioritization, and quarterly communication to Board Committees of the organization’s top existing and emerging risks, including management and reporting of Key Risk Indicators (KRIs).
• Maintains a high-level view of the enterprise risk portfolio and advising executives and Board members on risk exposure, risk management and organizational resilience,
• Oversees development and implementation of the organization’s Business Continuity Planning (BCP) efforts through coordination with the operational departments. Ensures risks related to emergency response, crisis management, disaster recovery, business resumption, and disruptions to company operations are adequately considered and addressed by our ERM Team. The BCP helps ensure that the organization is prepared to act effectively in the case of a crisis.
• Oversees development and implementation of the organization’s Business Impact Analysis (BIA) efforts through coordination with the operational departments. Ensures the organization’s readiness to respond to various disaster scenarios with minimal interruption to its core business functions. This includes considerations such as the probability of various disaster scenarios, the financial impact, and reviewing the mitigation plans put in place to help ensure Chesapeake’s ability to recover from a disaster in a timely manner.
• Provides leadership and contributes significantly to the risk governance structure and operations through involvement with Executive Management and the appropriate Board Committees.
• Develops and utilizes complex models to assess the impact on company’s assets and liabilities for changes in medical inflation, catastrophic events as well as legislative,
• Performs in-depth analysis of financial and operational issues impacting the company and develop communications with senior management to discuss potential issues.
• Leads or participates in modeling required to respond to state or national issues. Lead research in industry-wide risk management issues.
• Assists in the development of business plans where required.
• Develops long-range financial projections for use in strategic analysis.
• Prepares and delivers the Own Risk Solvency Assessment (ORSA) report to A.M. Best which documents Chesapeake’s ERM Framework, provides our assessment of risk exposure, and shares our prospective solvency assessment.
• Answers any ORSA or ERM related questions from the Maryland Insurance Administration