Enterprise Risk Management Coordinator Job Description [Updated for 2024]

In today’s world, the role of Enterprise Risk Management Coordinators has never been more crucial.

As the business landscape evolves, the demand for skilled professionals who can assess, strategize, and mitigate risks within an enterprise is constantly on the rise.

But let’s dig a little deeper: What’s truly expected from an Enterprise Risk Management Coordinator?

Whether you are:

• A job seeker trying to understand the core responsibilities of this role,
• A hiring manager outlining the perfect candidate,
• Or simply curious about the intricacies of enterprise risk management,

You’re in the right place.

Today, we present a customizable Enterprise Risk Management Coordinator job description template, designed for easy posting on job boards or career sites.

Let’s dive right in.

Enterprise Risk Management Coordinator Duties and Responsibilities

Enterprise Risk Management Coordinators are responsible for identifying potential risks that might impact an organization’s reputation, safety, security, and financial prosperity.

They implement and manage risk management strategies to minimize potential threats and liabilities.

Their duties and responsibilities include:

• Assess and identify potential risks that may hinder the reputation, safety, security and overall operational efficiency of the organization
• Develop and implement risk management policies and protocols to mitigate the identified risks
• Conduct periodic risk assessments and audits to ensure compliance with standards and regulations
• Coordinate with other departments to create a unified risk management strategy
• Prepare risk management reports and present them to the management and stakeholders
• Conduct training programs for staff to understand the risk management process and their responsibilities
• Collaborate with external auditors and manage audit processes
• Monitor and manage insurance coverage to ensure adequate protection against risks
• Assist in the development of contingency plans and disaster recovery procedures
• Maintain up-to-date knowledge of industry trends and developments in risk management.

 

Enterprise Risk Management Coordinator Job Description Template

Job Brief

We are looking for a diligent Enterprise Risk Management Coordinator to join our team.

Your role will include identifying potential risks, developing risk management plans, and implementing strategies to minimize the impact of these risks.

Our ideal candidate is familiar with risk management methodologies and tools, as well as having a strong understanding of business processes.

Ultimately, the role of the Enterprise Risk Management Coordinator is to ensure that our company is aware of any risks that could potentially affect our business operations and is prepared to mitigate those risks effectively.

 

Responsibilities

• Identify and assess potential risks to the organization
• Develop and implement risk management plans
• Collaborate with departments to ensure the implementation of risk management strategies
• Provide training to staff on risk management procedures
• Prepare reports on risk management activities
• Monitor and review processes and systems for potential risks
• Ensure compliance with industry regulations and standards
• Analyze the effectiveness of risk management strategies
• Stay up-to-date with new legislation and regulations that might affect the company’s risk management plans

 

Qualifications

• Proven work experience as a Risk Management Coordinator or similar role
• Knowledge of risk management methodologies and tools
• Strong understanding of business processes and strategies
• Excellent analytical and problem-solving skills
• Strong communication and presentation skills
• Ability to work in a team
• BSc degree in Business, Finance, or relevant field
• Certification in risk management is a plus

 

Benefits

• 401(k)
• Health insurance
• Dental insurance
• Retirement plan
• Paid time off
• Professional development opportunities

 

Additional Information

• Job Title: Enterprise Risk Management Coordinator
• Work Environment: Office setting with occasional travel for meetings or conferences.
• Reporting Structure: Reports to the Risk Manager or Director of Risk Management.
• Salary: Salary is based upon candidate experience and qualifications, as well as market and business considerations.
• Pay Range: $60,000 minimum to $90,000 maximum
• Location: [City, State] (specify the location or indicate if remote)
• Employment Type: Full-time
• Equal Opportunity Statement: We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.
• Application Instructions: Please submit your resume and a cover letter outlining your qualifications and experience to [email address or application portal].

 

What Does an Enterprise Risk Management Coordinator Do?

Enterprise Risk Management Coordinators, often working in large corporations or financial institutions, are responsible for identifying and assessing potential risks that might affect the health, safety, security, or reputation of their organization.

They work closely with different department heads and risk management teams to develop and implement risk management policies and procedures.

They constantly monitor and evaluate the effectiveness of these risk management practices and adjust them as needed.

These professionals are also responsible for creating comprehensive contingency plans that the company will follow in the event of a business disruption or crisis.

This involves evaluating the company’s current crisis management plans, recommending improvements, and coordinating with various departments to implement these improvements.

In addition, Enterprise Risk Management Coordinators also conduct risk assessments, which involve identifying possible risks, determining the potential impact of these risks, and formulating strategies to manage them effectively.

They also prepare risk management and insurance budgets, and allocate claim costs and premiums to departments and divisions.

Lastly, they are responsible for ensuring the organization’s compliance with risk management regulations, and they may also provide staff training on risk management.

 

Enterprise Risk Management Coordinator Qualifications and Skills

An Enterprise Risk Management Coordinator should possess a strong set of technical skills, analytical abilities, and industry knowledge to ensure the organization’s risks are managed effectively, which includes:

• Strong knowledge of risk management principles and practices to identify, assess, and monitor risks effectively.
• Excellent analytical skills to evaluate complex information from multiple sources and make informed decisions or recommendations.
• Strong interpersonal skills to communicate and collaborate with various departments and stakeholders within the organization.
• Effective problem-solving skills to efficiently address and resolve potential or actual risks that may impact the organization.
• Exceptional organizational skills to manage multiple risk-related tasks or projects concurrently and ensure compliance with industry standards and regulations.
• Proficiency in risk management software and other related tools to automate processes and provide detailed risk reports.
• Adept at planning and implementing enterprise risk management strategies that align with the organization’s objectives.
• Excellent communication skills to articulate complex risk management concepts to non-technical stakeholders and provide training when necessary.

 

Enterprise Risk Management Coordinator Experience Requirements

Entry-level candidates for the Enterprise Risk Management Coordinator role are typically expected to have 2 to 3 years of experience.

This can be accumulated through internships or part-time roles in related fields like financial risk management, insurance, audit, or other risk-related roles.

Candidates with 3 to 5 years of experience are usually more desirable, as they’ve had the opportunity to develop specific skills related to risk management, such as risk assessment and mitigation, risk scenario development, or risk reporting.

They may have also gained experience in the use of risk management software and tools.

Those with more than 5 years of experience are often considered for senior coordinator roles.

They typically have comprehensive knowledge of enterprise risk management and may have experience in setting up risk management frameworks and governance structures.

They may also have leadership experience, demonstrating the ability to coordinate risk management teams and oversee risk management projects.

Furthermore, for all levels of experience, it is beneficial if the candidate has industry-specific knowledge.

For example, in the financial sector, understanding relevant regulations and compliance requirements would be advantageous.

Having professional certifications such as Certified in Risk and Information Systems Control (CRISC) or Financial Risk Manager (FRM) can also provide an edge.

 

Enterprise Risk Management Coordinator Education and Training Requirements

Enterprise Risk Management Coordinators are typically required to hold a bachelor’s degree in business administration, finance, accounting, or a related field.

In-depth knowledge of risk management principles, risk assessment, and risk control strategies is crucial for this role.

This can be obtained through formal education as well as on-the-job training.

In addition to a bachelor’s degree, having a master’s degree in risk management or a related field, such as business or finance, can provide an edge in the job market.

Certifications such as the Certified in Risk and Information Systems Control (CRISC), Certified Risk Manager (CRM), or Professional Risk Manager (PRM) can greatly enhance a candidate’s career prospects.

These certifications require passing a comprehensive exam and maintaining ongoing education credits to stay current with industry changes.

Experience with data analysis and the ability to use risk assessment software are also essential skills for this role.

Therefore, taking courses in data analytics or gaining exposure to various risk assessment software platforms can be beneficial.

Knowledge of regulations related to the specific industry the candidate is working in is also important.

Therefore, additional training may be required depending on the industry.

Continuing education is important in this role to keep up with evolving risk management strategies and regulations.

This can be achieved through seminars, workshops, or certification programs.

 

Enterprise Risk Management Coordinator Salary Expectations

The average salary for an Enterprise Risk Management Coordinator is $81,758 (USD) per year.

The actual earnings can vary depending on the individual’s level of experience, the size and industry of the company, and the geographical location.

 

Enterprise Risk Management Coordinator Job Description FAQs

What skills does an Enterprise Risk Management Coordinator need?

An Enterprise Risk Management Coordinator should possess excellent analytical skills to identify and evaluate potential risks.

They should have strong communication and interpersonal skills to effectively convey complex risk assessments to different stakeholders.

Additionally, these professionals should have a deep understanding of compliance and regulatory requirements, as well as knowledge in risk management and control principles.

 

Do Enterprise Risk Management Coordinators need a degree?

Typically, an Enterprise Risk Management Coordinator should have a bachelor’s degree in fields such as Business Administration, Finance, or a related field.

Some organizations may require a master’s degree or relevant certifications such as Certified in Risk and Information Systems Control (CRISC), Certified Risk Manager (CRM), or Professional Risk Manager (PRM).

 

What should you look for in an Enterprise Risk Management Coordinator resume?

An ideal resume for this role would highlight a candidate’s experience in risk management, particularly in identifying, assessing, and mitigating risks.

The resume should also indicate the candidate’s knowledge of risk-related regulations and standards.

A good candidate should have a strong background in financial analysis or business administration.

Certifications in risk management would also be a plus.

 

What qualities make a good Enterprise Risk Management Coordinator?

A good Enterprise Risk Management Coordinator is diligent and meticulous, with the ability to identify subtle risk indicators.

They should be comfortable dealing with ambiguity and uncertainty, and able to make informed decisions under pressure.

Strong communication skills are essential, as they will often need to explain complex risk scenarios to non-experts.

They also need to have a collaborative mindset to work effectively with various departments.

 

What is the scope of responsibility for an Enterprise Risk Management Coordinator?

The Enterprise Risk Management Coordinator is responsible for identifying, evaluating, and mitigating risks that could affect the achievement of an organization’s objectives.

They develop and implement risk management policies and procedures, conduct risk assessments, and prepare risk reports for senior management.

They may also be involved in training staff on risk management issues and promoting a risk-aware culture within the organization.

 

Conclusion

And there you have it.

Today, we’ve given you a glimpse into the multifaceted world of being an Enterprise Risk Management Coordinator.

Surprise, surprise?

It’s not just about mitigating risks.

It’s about plotting the trajectory of your company’s safety and success, one risk assessment at a time.

Armed with our comprehensive Enterprise Risk Management Coordinator job description template and real-life examples, you’re ready to take the leap.

But why limit yourself?

Go further with our job description generator. It’s your next destination for creating laser-focused job listings or fine-tuning your resume to absolute precision.

Remember:

Every risk assessed is a step towards a more secure future.

Let’s navigate that future. Together.

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