Role Overview for Chief Risk Officer with a Global Insurer – Hartford, CT
JRG Partners is proud to exclusively represent a premier, globally recognized insurance provider in their search for a distinguished Chief Risk Officer (CRO). This pivotal executive leadership position is based in the insurance hub of Hartford, CT, and reports directly to the Chief Executive Officer and the Board of Directors’ Risk Committee. We are seeking a visionary and strategic leader to spearhead the company’s global risk management function, safeguarding the organization’s balance sheet, reputation, and long-term strategic objectives.
The Chief Risk Officer will be the principal architect and guardian of the company’s risk management infrastructure. This role demands a forward-thinking individual who can navigate the complexities of the global insurance market, including evolving regulatory landscapes, emerging technological risks, and dynamic economic conditions. The ideal candidate will possess an exceptional ability to balance risk and reward, fostering a sophisticated and proactive risk-aware culture that permeates every level of the organization.
You will be responsible for providing critical oversight and independent challenge to the business, ensuring that risk considerations are seamlessly integrated into all strategic decision-making processes, from product development and underwriting to capital allocation and mergers and acquisitions. This is a unique opportunity to shape the future resilience and sustainable growth of a market-leading institution.
Key Responsibilities of Chief Risk Officer with a Global Insurer – Hartford, CT
Enterprise Risk Management (ERM) Framework
Design, implement, and continuously enhance a comprehensive enterprise risk management (ERM) framework that aligns with the company’s strategic goals and regulatory requirements. Ensure the framework is embedded into business operations and decision-making processes globally.
Risk Appetite and Strategy
Lead the process to define, articulate, and monitor the company’s risk appetite and tolerance levels, securing approval from the Board of Directors. Ensure all business activities are conducted within these established limits.
Regulatory and Compliance Oversight
Serve as the primary liaison with key regulatory bodies (e.g., NAIC, state insurance departments, international regulators). Ensure robust compliance with all applicable regulations, including capital adequacy standards like Solvency II and Risk-Based Capital (RBC).
Risk Identification and Assessment
Oversee the systematic identification, assessment, and prioritization of all material risks across the enterprise. This includes, but is not limited to, underwriting, reserving, market, credit, liquidity, operational, technological, strategic, and reputational risks.
Quantitative Analysis and Modeling
Lead a team of quantitative analysts and actuaries in the development and application of sophisticated risk models, stress tests, and scenario analyses to quantify risk exposures and assess the impact on capital and earnings.
Governance and Reporting
Develop and deliver clear, concise, and insightful risk reporting for the CEO, executive management, and the Board of Directors. Chair and participate in key risk governance committees to facilitate informed debate and decision-making.
Leadership and Talent Development
Build, mentor, and lead a world-class, globally dispersed risk management organization. Promote a culture of collaboration, continuous improvement, and high performance.
Strategic Business Partnership
Act as a strategic advisor to the executive team, providing risk-based perspectives on key business initiatives, including new product launches, geographic expansion, investment strategies, and potential M&A activities.
Culture of Risk Awareness
Champion and cultivate a strong, proactive risk management culture throughout the organization, ensuring that risk awareness is a shared responsibility.
Crisis Management and Business Continuity
Oversee the development and maintenance of the company’s crisis management and business continuity plans to ensure organizational resilience in the face of significant disruptions.
Requirements for the Chief Risk Officer with a Global Insurer – Hartford, CT
Executive Experience
A minimum of 15-20 years of progressive experience in risk management, actuarial science, or a related field within the global insurance or financial services industry. A minimum of 7-10 years in a senior leadership capacity with a proven track record of managing large, complex teams.
Educational Background
A Bachelor’s degree in Finance, Economics, Mathematics, Actuarial Science, or a related field is required. An advanced degree (MBA, MSc) is strongly preferred.
Professional Designations
Relevant professional certifications such as Fellow of the Society of Actuaries (FSA), Chartered Enterprise Risk Analyst (CERA), Financial Risk Manager (FRM), or Professional Risk Manager (PRM) are highly desirable.
Technical Expertise
Deep, authoritative knowledge of insurance-specific risks (underwriting, reserving, catastrophe), financial risks (market, credit, liquidity), and operational risks. Extensive experience with ERM frameworks, risk modeling, economic capital, and regulatory capital regimes (e.g., Solvency II, RBC).
Leadership Acumen
Exceptional leadership and people management skills with the ability to inspire, influence, and motivate teams across different geographies and functions. A demonstrated ability to act as a change agent.
Communication Skills
Superior verbal and written communication skills, with the ability to distill complex risk concepts into clear, actionable insights for diverse audiences, including the Board of Directors, regulators, investors, and employees.
Strategic Vision
A strategic and commercially-minded thinker with strong business acumen and the ability to connect risk management to the achievement of business objectives.
Integrity and Influence
Unquestionable personal integrity, credibility, and the executive presence to effectively challenge and influence senior management and business leaders in a collaborative and constructive manner.
Benefits & Perks Offered
Our client is committed to attracting and retaining top-tier executive talent and offers a highly competitive and comprehensive compensation and benefits package, including:
Executive Compensation
A lucrative base salary, significant annual performance-based bonus, and long-term equity incentives.
Comprehensive Health & Wellness
Premier medical, dental, vision, and life insurance plans for you and your dependents. Access to executive wellness programs and resources.
Retirement Planning
A generous 401(k) retirement plan with a substantial company match and other deferred compensation opportunities.
Paid Time Off
Executive-level paid time off (PTO), sick leave, and paid company holidays to support work-life balance.
Relocation Support
A comprehensive relocation package is available for qualified candidates and their families moving to the Hartford area.
Professional Growth
A dedicated budget for continued professional development, including industry conferences, executive education, and certification maintenance.
Additional Perks
Access to various corporate perks, including employee assistance programs, fitness subsidies, and community involvement opportunities.
How to Apply
JRG Partners is the exclusive recruitment partner for this confidential search. All applications will be handled with the utmost discretion. We invite qualified and interested candidates to take the next step in their executive careers by submitting a comprehensive resume and a compelling cover letter outlining their suitability for this role.
To express your interest in this executive opportunity, please submit your application through our secure portal. For more information on our deep expertise in this sector and other executive-level opportunities, we invite you to visit our Insurance & Risk Management Practice page.
