Ricardo is developing its Risk and Internal Audit functions to increase inhouse capability and provide segregation between the functions. The business operates a centrally driven risk assessment and control framework with Business Unit leaders and finance teams based in the UK, Europe, U.S. and parts of Asia.
The Risk Manager Role
Ricardo is looking to fill the role of Risk Manager. The Risk Manager will oversee the organization’s comprehensive risk management, risk mitigation, reporting and insurance program. A critical responsibility is assessing and identifying risks that could impede the reputation, safety, security, integrity, or financial success of the organization. The span of the role covers the individual Business Units together with the Group Function.
The Risk Manager will provide hands-on development of risk models and risk rating involving operational, market, political, credit, reputational, technical and environmental risks. A key function is to ensure controls are operating effectively and to provide research and analytical support. The Risk Manager must have excellent quantitative and analytical skills, along with the ability to apply those skills across a variety of business processes and cultures. The ability to communicate through reports, presentation and training sessions given to staff and management is paramount.
The role reports to the Group Director, Sustainability, Quality and Risk.
The successful candidate will be supported by the outgoing post holder who will continue to work in the business during transition. The Group’s head office and finance function is based at Shoreham by Sea, West Sussex. The role could be based in the London office as an alternative. Hybrid working can be considered. Some international travel will be expected spanning the European, Asian and Americas based locations.
Key Duties of the Risk Manager
Performing ongoing risk assessments: Analyzing current enterprise risks and identifying potential risks that could affect the company
Maintaining and enhancing risk dashboard and scoring system and providing timely updates on changes, actions required and reports to Board and Audit Committee meetings
maintaining and expanding the overall risk management process for the organization, which includes an analysis of the financial and reputational impact on the company and deploying the system uniformly through the Business Units and Group. With Ricardo’s growth, geographic expansion and broadening of portfolio of offerings – this will be dynamic and require updating annually at a minimum
Establishing or updating policies and procedures to identify and address risks in the organization’s services, functions and products
Performing risk evaluations of action taken to address prior handling of risks and comparing potential risks with criteria set out by the company such as costs and legal requirements
Develop and advise on risk mitigations for the company and preparing risk management and mitigation options including insurance
Risk reporting tailored to the relevant audience. (Educating the board of directors about the most significant risks to the business; ensuring business heads understand the risks that might affect their functions and locations)
Training staff on risk identification and best practices to eliminate dormant risks
Contributing to Ricardo’s high ESG score through explaining the risk management and mitigation and corporate governance to stakeholders
Contributing to internal and external audits to interface with the relevant audit teams
Creating business continuity plans to limit risks
Leading the groupwide ISO 9001/14001/45001 Certification Programme
Assessing/Advising on effectiveness of the environmental health and safety measures. (The procedures are owned by the Business Unit Managing Directors)
Insurance System Design including purchasing insurance, managing broker and insurer relationships, supporting, the business on insurance programme implementation, managing any large claims
Preferred job qualifications
A degree and a professional qualification in one the following subjects is preferable:
Management or Business Studies including scenario planning
Finance or Economics
Analytical skills and an eye for detail
Familiarity with Risk assessment Management system operation and stress testing models and approaches
Comprehensive analytical and numerical skills
Planning and organizational skills
Ability to understand broader business issues
Communication and presentation skills to all levels of the business
Engaging directly with senior executive stakeholders, technology and insurance vendors
Setting new risk systems for new products/geographic markets or assessment of acquisitions modifying risk profile
Familiarity with best practice trends in risk and safety management systems
Comfortable working in a matrix model spanning global operations
Will have demonstrated risk manager experience in a previous position – ideally with broad technical/consulting/transportation or environmental experience