Enterprise Risk and Control Officer

Company:Washington State Investment Board

SALARY: $97,200 - $145,000
LOCATION: Olympia, Washington
OPENS: May 15, 2018
CLOSES: Open until position is filled

Reporting to the Legal, Risk & Compliance Director, this position develops and directs the agency Enterprise Risk Management (ERM) Program and serves as the agency’s internal control officer. As a leader in risk management and internal control functions, this position collaborates with internal business partners to assess organizational risks and the effectiveness of internal controls.

This position provides leadership in formulating, developing, and implementing a comprehensive, proactive, and risk aware ERM Program. This position conducts an annual enterprise risk assessment, as well as periodic internal workflow assessments and develops a strategic plan of mitigation through enterprise-wide policies, standards and procedures.

The position develops and implements education programs addressing enterprise risks and internal controls and collaborates with management and staff to effectively incorporate mitigation strategies. The incumbent acts as an intermediary between executive, senior, and middle-management leaders, and a policy advisor to the Legal, Risk & Compliance Director, Chief Operating Officer (COO), Executive Director (ED), and Board.

Develops effective lines of communication and reports on a regular basis to the Legal, Risk & Compliance Director, Executive Management Team, and Board, on ERM and internal control activities.

Implements and maintains written policies and procedures that support ERM activities and effective internal controls.

Enterprise Risk Management
Provides strategic leadership and direction for the agency’s ERM Program. Creates the framework to evaluate risk appetite and tolerance levels for enterprise risks of the agency, including fiduciary, investment, strategic, government environment, operational, and reputational risk and develops strategies to effectively identify, assess, and respond to risk.

Develops and implements policies and procedures for ERM and partners with all business units to ensure effective management of risk.

Leads and directs the activities of the ERM Team, a formal, mid-sized cross-agency team, designed to develop a risk-aware culture within the agency and to assist executive management by integrating enterprise risk analysis into the agency’s strategic planning processes.

Internal Controls
Leads and directs a review of internal controls and develops strategies to effectively measure and monitor internal processes, systems, resources, policies and procedures to increase operational efficiency and to detect and eliminate fraud. This includes creating a yearly internal review plan with management, assisting with financial audits, and assessing the adequacy of asset safeguards.

Reports findings to the Legal, Risk & Compliance Director and COO and recommends suitable changes to align agency with industry best practices. Engages staff in developing and implementing best practices.

Consults and collaborates with Internal Audit Director, sharing internal control reviews, analysis and evaluations of agency processes, procedures, and technology.

Reports internal control deficiencies to Legal, Risk & Compliance Director and Executive Management.

• A bachelor’s degree in Business Administration, Finance, Economics, or Accounting, or related field.
• Certified Public Accountant or comparable designation.
• At least five years audit experience, preferably with an institutional asset manager, or financial services company.
• Demonstrated knowledge of using ERM principles and practices, which include, risk frameworks, risk appetite and tolerance levels, risk assessment, risk monitoring and reporting, risk charters and policies, and risk culture.
• Experience developing and leading teams through risk analysis, internal control analysis, root-cause analysis, case studies, key risk forecasts, and operational risk heat map assessments.

Analysis - Effectively researches, studies and reviews documents and information closely. Aware of strategies and tactics and how they work in the marketplace. Knowledgeable of current policies, practices, trends and information affecting investment management.

Consultation - Employs expertise, credibility, and effective partnering to help customers and/or peers identify, evaluate, and resolve complex or sensitive issues and problems.

Interpersonal Savvy - Relates well to all kinds of people both inside and outside the organization. Develops and maintains effective working relationships that encourage and support collaboration, knowledge sharing, communication, and teamwork. Engages and inspires others. Treats people with courtesy, sensitivity, and respect, exemplifying professionalism, tact, and empathy.

Judgment - Displays balanced thinking that combines data-based analysis, experience, and perspective while also considering decision impacts. Effectively weighs alternatives and makes decisions that incorporate facts, opinions, and other relevant information.

Communication - Effectively conveys information in writing and through oral presentations, using language that is appropriate to both the complexity of the topic and the knowledge and understanding of the audience. Excellent oral and written communication skills, and ability to present results and suggestions to senior management.

Project/Program Management - Monitors and verifies on-going progress; ensures quality and quantity standards are met throughout; responds effectively to unforeseen problems; achieves results.

Adaptability - Adapts easily to changing business needs, conditions, and work responsibilities. Self-driven to recognize new industry, agency regulatory, and government trends and practices.

Ethics and Values - Embraces and exercises core values and beliefs and models ethical behavior.

WSIB Careers

In addition to a complete profile, please attach:
• A cover letter specifying why this position is of interest to you, and how you meet the qualifications listed above. This letter should be no more than two pages.
• A current chronological resume.
Candidate evaluation will be ongoing and WSIB may make a hiring decision at any time. Incomplete applications may not be considered.

Special Requirement:
Prior to a new hire, a background check including criminal record history will be conducted. Information from the background check will not necessarily preclude employment but will be considered in determining applicant’s suitability and competence to perform in the position.

About WSIB:
The Washington State Investment Board is a dedicated global investment management organization with assets under management in excess of $110 billion. The WSIB’s globally diversified portfolios are comprised of more than 14,000 securities across 74 countries on six continents and in 49 currencies. The WSIB’s central mandate is to maximize return at a prudent level of risk.

Why work at WSIB?
The WSIB is a respected institutional investor and thought leader in its industry. A solid reputation and large scale offer the opportunity to invest in the world’s leading investors on behalf of more than 500,000 public employee beneficiaries.

We are located in Olympia, on the southernmost tip of Puget Sound. Olympians enjoy a quality of life enhanced by natural beauty and a mild year-round climate that promotes outdoor activities such as skiing, sailing, fishing, hiking, kayaking, and mountain climbing. Its close proximity to Seattle provides a variety of cultural and culinary experiences, while its residents enjoy a lower cost of living. Within a two-hour drive from Olympia are the Pacific Ocean, the Cascade and Olympic Mountains, and Seattle.

WSIB Offers:
• Opportunities for professional development, training, growth and advancement.
• Tuition reimbursement.
• A comprehensive benefits package including health, dental, life and long-term disability insurance, vacation, sick, military and civil leave, 11 paid holidays per year.
• Membership in the Public Employees’ Retirement System.
• Opportunities to participate in the Deferred

Compensation and Dependent Care Assistance Programs.

Special Requirement:

Prior to a new hire, a background check including criminal record history will be conducted. Information from the background check will not necessarily preclude employment but will be considered in determining applicant’s suitability and competence to perform in the position.

Due to the time sensitivity of these responsibilities, the incumbent may be required to work on state and federal holidays, as well as a varied work schedule as deemed appropriate due to workload issues.

The Washington State Investment Board is an equal opportunity employer. Women, racial and ethnic minorities, persons of disability, persons over 40 years of age, and disabled and Vietnam era veterans are encouraged to apply. Persons of disability needing assistance in the application process, or those needing this announcement in an alternative format, please contact Mary Hougan, Human Resources Consultant at (360) 956-4716 or via email to