Director of Risk Management

Position Overview

We are seeking an experienced and strategic Risk Control Manager or Director to lead and oversee the company’s risk management initiatives. This critical role will focus on managing and mitigating financial and operational risks, specifically through hedging copper inventory, energy costs (gas and electricity), managing insurance coverage, and overseeing workers’ compensation insurance programs.

The ideal candidate will have a proven track record in risk management within a manufacturing environment and strong expertise in commodities, energy markets, and insurance programs.

Key Responsibilities

1. Commodity Risk Management

• Develop and execute daily hedging strategies for copper inventory to mitigate exposure to price volatility.
• Monitor market trends, economic conditions, and regulatory changes that impact copper pricing.
• Establish and maintain relationships with financial institutions, brokers, and other market participants.
• Provide detailed reporting and analysis on hedging activities and financial impacts.

2. Energy Hedging and Cost Management

• Implement and manage hedging strategies to mitigate gas and electricity price volatility.
• Collaborate with operations and procurement teams to forecast energy requirements and align hedging strategies with business needs.
• Evaluate and optimize hedging instruments for cost-effectiveness and risk reduction.

3. Insurance Management

• Oversee the company’s overall insurance portfolio, including property, liability, and operational coverage.

• Evaluate and negotiate insurance policies to ensure comprehensive protection and cost efficiency.
• Conduct regular reviews of insurance coverage to ensure alignment with organizational risks and compliance requirements.
• Manage the claims process for all insurance policies, ensuring timely and accurate reporting and resolution.
• Provide data to insurance company auditors

4. Workers’ Compensation Insurance

• Oversee the administration and optimization of workers’ compensation insurance programs.
• Collaborate with HR and safety teams to minimize claims through proactive risk assessments and workplace safety initiatives.
• Manage claims processes, ensuring compliance with legal requirements and minimizing financial impact.
• Provide data to insurance company auditors

5. Risk Analysis and Reporting

• Evaluate and mitigate risks related to cash flow, credit exposure, investment decisions, and financial forecasting.
• Monitor financial markets and economic conditions to assess their potential impact on the business.
• Work closely with the CFO to integrate risk management into financial planning and corporate strategy.
• Conduct risk evaluations for major capital investments, mergers, acquisitions, and other financial initiatives.
• Ensure adherence to internal policies, external regulations, and legal requirements.  Ensure internal controls are robust and effective.
• Develop and implement risk policies and processes focused on financial and operational risk management.
• Prepare detailed risk analysis reports for the CFO, finance team, and executive leadership.
• Assist in creating reports for board members and external auditors.
• Collaborate with production, quality assurance, and supply chain teams to address risks with financial implications.
• Engage with IT and cybersecurity teams to manage financial risks associated with data security and technology disruptions.

• Develop and maintain risk management frameworks, policies, and procedures.
• Conduct regular risk assessments across all areas of responsibility and recommend mitigation strategies.
• Prepare and present reports on risk exposure, mitigation measures, and financial impacts to senior leadership.

• Prepare annual budgets for general insurance, workers’ compensation insurance and utilities.

6. Cross-Functional Collaboration

• Partner with finance, operations, procurement, and HR teams to align risk management strategies with organizational goals.
• Provide training and guidance to internal stakeholders on risk awareness and mitigation best practices.

Qualifications

Education:

• Bachelor’s degree in Finance, Risk Management, Business Administration, Economics, or a related field.

Experience:

• Minimum of 5–7 years of experience in commodity hedging is critical
• Energy cost management and insurance program oversight
• Manufacturing industry experience is highly desirable.

Skills and Competencies:

• Strong understanding of commodity and energy markets, hedging instruments, and risk mitigation strategies.
• Expertise in insurance policy management and claims handling.
• Exceptional analytical and financial modeling skills.
• Strong interpersonal and communication skills with the ability to negotiate and collaborate effectively.