Capital Program Risk Manager – Rail Infrastructure

POSITION SUMMARY 

The Capital Program Risk Manager for Rail Infrastructure plays a critical role in supporting the capital program of a rail operator, ensuring effective project planning, execution, and financial control. This position focuses on planning, identifying, analyzing, and monitoring risks as well as planning and implementing risk responses, while supporting accurate cost estimating and scheduling to ensure the successful delivery of rail infrastructure projects.

Key responsibilities include evaluating risks and risk factors tied to engineering, construction, and operational activities; collaborating with cross-functional teams to align project budgets, schedules, and risk response strategies; and maintaining comprehensive documentation to guide decision-making.

The Capital Program Risk Manager works closely with project managers, clients, and stakeholders to ensure projects align with budgetary constraints, meet rigorous safety and quality standards, and adhere to timelines critical for rail operations. The role requires proficiency in statistical data analysis, risk management tools, and project controls, as well as strong communication and problem-solving skills.

The ideal candidate is detail-oriented, highly organized, and adaptable, with specialized knowledge of industry standards and best practices in risk management. Experience with cost estimating and scheduling is strongly desired.

DUTIES AND RESPONSIBILITIES

Project Risk Management

• Develop and recommend processes and procedures for effective risk management within the Capital Program, requiring strategic input and discretion.
• Facilitate the implementation and integration of advanced risk management software tools, ensuring alignment with organizational goals.
• Conduct both quantitative and qualitative risk analyses, including the use of Monte Carlo simulations, to evaluate the probability and impact of risks on project cost and schedule.
• Analyze and evaluate contingency budgets at the program and project levels, providing insights to guide management decisions and ensure cost/schedule certainty.
• Oversee the tracking and analysis of project issues and risks, ensuring accurate and up-to-date registers at both project and program levels for informed decision-making.
• Lead risk kickoff meetings and facilitate ongoing strategic discussions with Project Managers and internal/external stakeholders to identify and address key risk factors.
• Collaborate with senior project stakeholders to evaluate the time, cost, and scope impacts of individual risks, advising on potential risk response and management strategies.
• Develop and maintain comprehensive risk and contingency profiles for projects and programs, providing management with actionable recommendations.
• Author and deliver detailed monthly and quarterly reports on risk status, contingency drawdowns, and risk exposure trends, tailored for executive review.
• Review and critique risk/opportunity registers submitted by consultants and contractors to ensure alignment with strategic project objectives.

DESIRED SKILLS AND QUALIFICATIONS

• Bachelor’s degree in construction management, engineering, or a related field; advanced degree preferred. 
• CPE Certificate preferred. 
• Experience with cost estimating and scheduling is a plus.
• PMI – RMP risk management professional qualification is preferred.
• A minimum of 5-7 years of professional experience in project management, risk analysis, cost estimation, or related roles within civil engineering or infrastructure projects. This should include experience in developing and managing risk registers, cost modeling, and contingency analysis for large-scale design and construction projects.
• Analytical mindset with the ability to evaluate complex datasets and provide actionable insights.
• Demonstrated mastery in utilizing risk management tools and software to develop, maintain, and analyze complex risk registers and contingency profiles for high-impact projects.
• Experience in developing and managing risk registers, cost modeling, contingency analysis, and schedule assessments for large-scale design and construction projects.
• Substantial experience in managing risk and cost estimation within large-scale capital programs, particularly in transit agencies or similarly regulated industries, requiring a comprehensive understanding of industry standards and compliance requirements.
• Exceptional ability to engage and collaborate with diverse internal and external stakeholders, leveraging advanced communication skills to drive consensus and inform management-level decisions.
• Expertise in evaluating and synthesizing complex datasets to deliver actionable insights that influence strategic planning and operational execution.
• In-depth familiarity with industry best practices in project management, risk assessment, and cost estimation, with the capacity to adapt and implement these methodologies to meet organizational objectives.