The Long Island Power Authority (“LIPA”) is seeking a candidate for the position of Enterprise Risk Management (“ERM”) Program Manager. The ERM Program Manager will report to LIPA’s Director of Risk Management and will be responsible for administering and facilitating the activities of LIPA’s ERM Program.
The ERM Program seeks to implement a risk identification, mitigation, and an active risk management program by utilizing a bottom-up (department level) approach to identify risks and mitigation plans for LIPA and its major service provider, PSEG Long Island (“PSEG LI”), with guidance from LIPA’s ERM staff, Executive Risk Management Committee and the Utility’s Senior Leadership Team.
The ERM Program has adopted an approach that focuses on empowering the operating departments to manage their risks by providing them with the tools and capabilities to identify, assess and prioritize, develop response plans and to monitor and report risk trends up to senior management. Ultimately, the ERM Program strives to help management develop effective business strategies, while the rest of the organization focuses on development and monitoring the effectiveness of mitigation strategies. This approach enables management to consider the highest ranked risks across the organization when prioritizing capital allocations to reduce the likelihood and severity of risks which may affect the achievement of the utility’s mission, goals and key priorities.
The primary responsibilities of the ERM Program Manager include:
- Plan, schedule and execute the ERM program components across all utility departments in a timely manner;
- Prepare materials and facilitate risk workshops/working sessions, in parallel for multiple departments, understand the business chemistry of risk owners and key stakeholders, and manage milestones and key deliverables required by each department to meet the ERM project timeline;
- Proactively identify continuous improvement efforts for the Enterprise Risk Assessment (“ERA”) process consistent with utility best practices. This may require refinement of processes within LIPA’s ERM program and risk framework, modification to LIPA’s ERM Internal Procedures and Controls Manual to identify efficiencies rendering the program more effective and minimizing to the extent possible, disruption to normal business activities;
- Attend and participate in regional ERM roundtable meetings to implement leading ERM practices and processes;
- Work with each functional department and track their development of:
- “Bow-tie” risk analysis - departments will need to identify root causes and consequences for each risk which my help to develop more informed mitigation strategies;
- Risk mitigation response and action plans including operational changes (controls, procedures and/or policies and identify budgetary needs) to mitigate risks when necessary;
- Development of risk monitoring capabilities that utilize key risk indicators (KRIs), key risk performance indicators (KPIs) and other metrics which can be used to monitor trends for key enterprise risks;
- Develop and implement efficient and effective ERM risk dashboards for monitoring changes in risk trends and facilitate meaningful and consistent utility management and board reporting;
- Develop or enhance ERM tools including defining the utility’s appetite and tolerance for risk-taking;
- Monitor the effectiveness of risk mitigating activities LIPA and PSEG LI deploy to address the highest ranked key risks.
- Prepare meeting agendas and materials to communicate ERM Program activities, and recommend revised processes for consideration by LIPA’s Executive Risk Management Committee;
- Develop emerging risk communication mechanism to report key emerging risks to management;
- Work with LIPA’s Director of Internal Audit and Director of Risk Management to administer operational risk management improvement processes;
- Prepare executive level reports for senior leadership and LIPA’s Board Finance and Audit Committee on a periodic basis;
- Promote risk culture and awareness, assist in the development of communication and literacy of risk throughout the organizations.
- Advanced degree with emphasis in ERM, Finance, Quantitative Analysis or Business Administration;
- Minimum of 3-5 years of professional experience in the field of Enterprise Risk Management, preferably within the utility industry;
- Strong knowledge of ERM and risk control methods, internal control standards such as COSO and/or ISO 31000 frameworks ;
- Experience working with qualitative and quantitative risk models;
- Advanced skills with Microsoft Office including Word, Excel, PowerPoint and other statistical and database applications such as Tableau or similar risk data warehouse and visualization software applications;
- Excellent communication skills for effective reporting, presentations and group facilitation;
- Ability to build and manage successful professional relationships;
- Strong ability to analyze large amounts of data and effectively communicate key points to senior management;
- Ability to interact effectively with senior management and the Board of Trustees ; and
- Ability to work independently, manage and execute multiple projects within required timelines and expectations.
LIPA offers a competitive salary and benefits package commensurate with experience and responsibilities.
Interested parties should submit their cover letter and resume to Barbara Ann Dillon, Director of Human Resources and Administration, at ERMProgramManager@lipower.org .
LIPA is an equal opportunity employer.