Director of Risk Management

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Over the last decade there has been a growing recognition of the need for cyber security risk management at the enterprise level. Previously there was a documented gap between IT and enterprise risk management in that senior executives outside of the IT area were not involved in key areas related to the enterprise’s cyber security concerns. Recently, however, cyber security in the enterprise has changed from an IT-only issue to the understanding that cyber security is an enterprise-wide risk management issue.

This change has placed increased responsibilities on an enterprise’s Director of Risk Management. The Director protects the enterprise’s data and infrastructure by implementing security and risk policies, processes, and systems. Overall, the Director’s job is to develop and implement a cyber security risk management plan; develop and implement an enterprise-wide cyber security risk budget; and regularly review, test, and update the plan.

The Director of Risk Management must ensure the effective delivery of IT security projects that will achieve the strategic and operational plans’ objectives, and evaluate the state of the internal and external IT security environments to stay abreast of legislative requirements and technological advances. The Director provides risk evaluation and assessment of the probability and impact of security vulnerabilities, threats, and exceptions. The Director will identify and develop key risk indicators and ensure that all plans and solutions are in compliance with federal, State, and regulatory requirements.

General Educational Requirements

A Bachelor’s Degree or higher, preferably in Computer Engineering, Computer Science, Cyber Security, Information Systems, or Information Technology, is required for this senior level position. Most employers require several years (generally up to 10) in IT security as well as previous experience at the managerial level. Industry certifications generally are required.

Additional Qualifications

Director of Risk Management is a senior level position; therefore, most employers require strong managerial skills beyond technical knowledge for this position. The Director needs to have strong analytical, problem solving, and organizational skills. The Director also needs to have strong verbal and written communication skills including demonstrated experience providing written and verbal presentations to senior executives. A Director of Risk Management must present a professional presence and must have a strong work ethic and unquestioned integrity.

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