At Enact, we understand that there's no place like home. That's why we bring our deep expertise, insightful offerings, and extra mile service to work every day to help lenders put more people in homes and keep them there.
We're looking for a Chief Risk Officer in Raleigh, NC to join us in fulfilling our mission, while utilizing our values of excellence, improvement, and connection. You will provide oversight to Enact Re, our Bermuda-domiciled business unit supporting its long-term growth strategy. In this role, you will take a hands-on approach to develop foundational risk management capabilities and provide strategic input and oversight of credit and counterparty risk, insurance underwriting risk, portfolio monitoring, and new product development. You will also be required to provide Risk Management reporting to senior management, the Board of Directors, and to the Bermuda Monetary Authority. This role reports to the Enact Chief Risk Officer and serves as a key advisor to the senior management of Enact Re in ensuring a strong Enterprise Risk Management program across the business.
LOCATION
Enact Headquarters, Raleigh, NC - Hybrid Schedule
YOUR RESPONSIBILITIES
- Active, hands-on development and implementation of foundational risk management frameworks and policies to ensure strong credit and counterparty risk, insurance underwriting risk, and portfolio management capabilities.
- Develop qualitative and quantitative assessments for both existing and new business opportunities using internal and external models, analytical tools, and rating models.
- Assist in the creation of the Company Risk Appetite and its translation to appropriate underwriting policy limits and guidelines, including exception and approval processes.
- Create and document a portfolio management framework that includes defining key data collection elements, key risk indicators, and monitoring reports with assessments of new and emerging risks to the Company and portfolio performance. Ensure compliance within approved limits.
- Conduct initial and ongoing credit and counterparty due diligence and risk assessments for insurance and reinsurance counterparties and strategic partners. Develop the required tools and ratings frameworks to ensure consistency and transparency across multiple risk classes.
- Develop scenario analysis and stress tests and, based on this analysis, collaborate with supporting business functions to develop appropriate mitigation strategies.
- Ensure proper oversight, governance, and compliance with regulatory risk management requirements and industry best practices for a Bermuda-based business unit, including oversight of the preparation and the submission of the Company's annual Commercial Insurer Solvency Self-Assessment (CISSA) filing.
- Prepare and present regular risk assessment and portfolio monitoring reports to senior management, the board of directors, and regulators.
- Engage external parties and conduct independent research to learn industry standard techniques and promote innovative approaches to improve the existing suite of analytical tools.
- Provide strategic input to influence strategy, offering analytical insights into the risks and opportunities of entering new markets and product lines in support of long-term growth objectives.
YOUR QUALIFICATIONS
- Bachelor's degree in Risk Management, Finance, Business Administration, Actuarial Science, or a related field.
- Minimum of 10 years of experience in credit risk management, preferably with oversight of, or direct experience in, credit (re)insurance underwriting within the insurance or reinsurance industry.
- Experience with economic, regulatory, and rating agency capital frameworks and development of risk appetite and limits to remain within targeted capital requirements.
- Strong knowledge and ability to ensure compliance with regulatory risk management requirements.
- Ability to summarize and present analyses to both technical and non-technical stakeholders.
- Experience in the development and management of enterprise risk management frameworks aligned with insurance industry best practices.
- Excellent analytical, problem-solving, and decision-making skills.
- Strong leadership and team management abilities with experience developing talent.
- Effective communication and presentation skills.
- Proficiency in financial modeling and analytical software and tools.
PREFERRED QUALIFICATIONS
- Advanced degree preferred.
- Relevant professional certifications in Risk Management, Credit Risk Management, or Actuarial Science designations are a plus.
COMPANY
Enact Holdings, Inc. (Nasdaq: ACT), operating primarily through its wholly owned subsidiaries, is a leading publicly traded U.S. private mortgage insurance provider, offering borrower-centric products that enable lenders and other partners across the U.S. to help people responsibly achieve and maintain the dream of homeownership.
By empowering customers and their borrowers, Enact seeks to positively impact the lives of those in the communities in which it serves in a sustainable way. Headquartered in Raleigh, North Carolina, we play an active role in supporting a healthier Triangle community. We also support our colleagues' philanthropic efforts in their home communities across the U.S. Enact values all perspectives, characteristics and experiences, along with providing a positive and inclusive culture for employees to grow and succeed. We strive to create an environment where employees can bring their full, authentic selves to work to help each other and their customers.
We are proud to be an equal opportunity employer and all hiring decisions are based on merit, qualifications, and business needs. We do not discriminate based upon race, religion, color, national origin, gender (including pregnancy), sexual orientation, gender identity, gender expression, age, status as a protected veteran, status as an individual with a disability, or other applicable legally protected characteristics.
WHY WORK AT ENACT
- We bring innovative thinking to the situations at hand
- We seek out and incorporate diverse views to strengthen our outcomes
- We work on challenging and rewarding projects
- We offer competitive benefits:
- Hybrid work schedule (in-office days Tues/Wed/Thurs)
- Generous Time Off
- 40 Hours of Volunteer Time Off
- Tuition Reimbursement and Student Loan Repayment
- Paid Family Leave and Flexible Spending Accounts
- 401k with up to 5% employer match
- Fitness and Emotional Wellness Reimbursements
- Onsite Gym
