Director of Risk Management

Director of Risk Management

 

SUMMARY: Directs and manages the Risk Finance program for the Company.  This includes a diverse combination of insurance and self-insurance programs of all types (other than Health and Welfare programs).  The incumbent is responsible for new and renewal programs, performance of the brokers, insurance agents, and consultants, and aligning Risk Finance programs with loss prevention and claim management activities.  Responsibilities include contract risk reviews and development of insurance requirements in contracts that are consistent with risk strategies and current market conditions.  The incumbent will make presentations to Boards and Sr. Management. 



 

ESSENTIAL DUTIES AND RESPONSIBILITIES:

 

 

1. Directs and manages Risk Financing for the organization for all types of business insurance and self-insurance programs assuring alignment with the approved risk finance strategy and customer service plans.

 

2. Participates in the development of customer service plans provided to the various business units of the company.

 

3. Negotiates agreements and oversees services provided by insurance brokers, actuaries, and other service providers.  Assures an adequate level of service is maintained and a performance measurement process is in place and actively utilized. Keeps apprised of services offered by similar providers in the market and directs RFP efforts.

 

4. Oversees the allocation of self-insured program costs, assuring proper accounting of same.  

 

5. Consults with other business units with regard to risks assumed in contracts, providing advice with regard to insurance requirements and other risk concerns.

 

6. Responsible for evaluation and providing direction to business units on insurance compliance in contracts.

 

7. Partners with Claims Management and Loss Prevention, coordinating efforts related to the Risk Finance programs in order to maintain an efficient balance between all activities. 

 

8. Assists with resolution of claims and litigation that fall within the Risk Finance program structure.

 

9. Prepares reports and presentations to Boards and Sr. Management teams.  Prepares various management reports as needed to communicate issues and solutions.  Evaluates and makes recommendations based on  “cost of risk” impact.

 

10. Participates in strategy development, keeping abreast of current best practices in the claims and insurance disciplines to improve department and company results.

 

11. Supervises 1 direct report.

 

12. Other duties as assigned.

 

QUALIFICATIONS:

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

 

EDUCATION and/or EXPERIENCE:

B.S. degree and 10 years experience in Risk Management and Insurance.  Professional training and coursework in the field of insurance and/or risk management. Professional designations preferred such as ARM and CPCU.

 

SUPERVISORY RESPONSIBILITIES:

Supervises 1 direct report, Risk Analyst.



 





WORK ENVIRONMENT: 



The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Travel required on occasion, local, out of state, and possibly out of the country (estimated at less than 20% of overall job), requiring overnight stays of typically no more than 1 week, and usually one or two nights.

 

b. Shares responsibility for on call consultations 24hrs, 7 days a week, (occurs infrequently >5%)