Director of Risk Management
7 days ago
Pay Range: $125,000 - $140,000 per year
Listed wages are based on company-wide ranges. Actual earnings will vary based on factors such as: restaurant brand, experience, education, geography, applicable minimum wage, unit volume(s), hours worked & potential overtime pay.
**Overview of Position**:
The Director, Risk Management at WKS Restaurant Group is a key leadership role responsible for overseeing all aspects of risk management within the organization. This includes strategic oversight, insurance program leadership, asset protection and security, food and industrial safety regulations, compliance, claims and litigation management, loss control and prevention strategies, and team leadership and development.
**Principal Duties and Responsibilities**:
Strategic Risk Management Oversight
- Develop and refine the organization's risk management framework, ensuring it aligns with the overall business strategy and incorporates best practices.
- Proactively identify and assess potential risks in all areas of the business, including operational, financial, compliance, and reputational risks, using both quantitative and qualitative methods.
- Design and implement effective risk mitigation strategies, ensuring a balanced approach between risk avoidance, transfer, reduction, and acceptance.
- Collaborate with key stakeholders across the organization, including department heads and the executive team, to integrate risk management considerations into business decisions and processes.
- Establish ongoing risk monitoring processes and deliver regular, comprehensive reports to senior management and the board of directors on the risk landscape, mitigation efforts, and emerging risks.
Insurance Program Leadership
- Evaluate and manage the company's insurance policies to ensure optimal coverage, cost-effectiveness, and compliance with relevant laws and regulations.
- Build and maintain strong relationships with insurance carriers and brokers, negotiating terms and managing renewals to secure the best possible coverage and rates.
- Develop and implement strategies for risk transfer, including traditional insurance and alternative risk transfer mechanisms, to minimize the company’s exposure to financial losses.
- Oversee the claims management process, ensuring timely and effective handling of all insurance claims, and liaise with the Corporate Claims Manager for efficient resolution.
- Regularly analyze the performance of the insurance program, assessing its effectiveness in mitigating risks and adjusting strategies as necessary based on evolving business needs and market conditions.
Asset Protection, Loss Prevention, and Security Oversight
- Develop and implement comprehensive asset protection strategies that encompass both physical assets (such as restaurant equipment and inventory) and intangible assets (including intellectual property and brand reputation).
- Oversee the implementation and maintenance of robust security systems, including surveillance, access controls, and alarm systems, across all restaurant locations and corporate offices.
- Establish and maintain relationships with local law enforcement and private security firms to enhance the security posture and response capabilities of the organization.
- Implement regular training and awareness programs for staff at all levels to promote a culture of security consciousness and preparedness.
- Lead the development and regular updating of emergency response plans and crisis management protocols, ensuring readiness to address potential security incidents or crises.
- Develop policies, procedures, and strategies to prevent and detect instances of fraud, theft, or other criminal activities within the organization.
- Oversee the activities of the supporting resource partners (i.e., Envysion, Interface, Integritus, etc.).
- In support of the resource partner audits, perform internal audits to identify theft and fraud cases and work with our external investigation team to remove or remediate the threat.
- Conduct regular audits and inspections of physical security measures at restaurant locations to identify vulnerabilities and implement corrective actions.
- Monitor and manage the Asset Protection and Security Manager’s performance and activities.
Food and Industrial Safety Loss Control Oversight
- Develop and regularly update comprehensive industrial safety policies and procedures in line with OSHA standards and other relevant regulations.
- Implement and oversee extensive safety training programs for all employees, focusing on industrial safety practices, accident prevention, and emergency response.
- Working with Operations, conduct regular workplace hazard analyses to identify potential safety risks in restaurant operations and take proactive measures to mitigate these risks.
- Ensure compliance with all industrial safety regulations and standards across all restaurant and facility operations, including equipment safety, ergonomic practices, and hazardous mat
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