Reporting to the VP, Audit & Risk Management, the Director of Risk Management plays a strong role in developing and executing key objectives and strategies to identify, measure and manage insurable risks. Responsibilities include directing the purchase of insurance programs and management of claim processes; negotiating contracts and overseeing the performance of a diverse network of vendors; developing analyses, reports, cost allocation and plans; assessing, analyzing and addressing insurable risk issues; leadership of the business continuity program steering committee; identifying, developing and/or implementing risk management solutions and leading department analytics program. Role requires ability to provide thought leadership with strong, cross-functional collaboration to drive an improving risk profile and cost of risk.
Risk Management Leadership
- Execute processes to identify hazard and operational risks in order to assess, analyze, prioritize and recommend appropriate risk management strategies to management.
- Establish and strengthen relationships cross functionally and within the business to gain an increasing knowledge of the business to identify and provide risk improvement strategies.
- Lead and direct vendor management processes to ensure that vendors deliver the requisite skills and services required for the company to meet its objectives.
- Demonstrate a continuous improvement mindset, collaborating cross functionally through the creation of improving tools, resources, capabilities and/or processes to improve outcomes.
- Lead the delivery of education, training and organizational support for process or execution of risk management and claim best practices to improve outcomes.
- Provide strong leadership and vision, set direction and agenda, and execute performance management processes for the Risk Management team to achieve its goals and objectives.
- Foster a culture of customer service and change management expertise to ensure organizational alignment, buy in and execution required to achieve.
- Participate, support and/or lead due diligence and integration activities, contract review, risk control programs and risk management information system activities.
- Responsible for compliance with SOX control processes governing department activities.
- Performs other duties as assigned.
- Lead the development and execution of the insurance program as a risk financing solution to identified insurable risks in line with the company’s risk profile and risk tolerance.
- Ensure directly or through others insurance management processes include compliance with regulatory requirements and required claim reporting and settlement policy terms.
- Ensure directly or through others that insurance cost allocation, reserve accrual and actuarial processes are completed and result in adequate corporate cost and reserves.
- Ensure directly or through others management of collateral needs to ensure timely collateral adjustments are made and supported.
- Lead analytics team that serves as a central resource for the data management and analytic needs of the internal audit and risk management department
- Lead and leverage risk analyses, performance metric processes across the organization to analyze risk and to identify organizational improvement opportunities.
Business Continuity Program
- Plan, design and lead business continuity program efforts to ensure business resiliency for unexpected events or interruptions to operations.
- Lead cross functional teams as necessary to develop loss mitigation practices across a range of business risks.
- Provide business continuity thought leadership and chair the business continuity steering committee.
Lead the development and execution of claim processes through established standards and best practices, including oversight of the Texas non-subscriber program.
Lead the claim management program including vendor selection, oversight and monitoring processes with agreed service standards and key performance metrics to drive improved outcomes.
Ensure directly or through others that claim reserves are adequately and timely established for financial reporting purposes.
Lead and/or support department members with management and negotiation related to complex claims.
Bachelor’s degree with 10+ years of experience in Risk and Insurance field.
Professional certification required (i.e. CPCU, ARM, CRM)
Strong knowledge of risk management practices and design of risk financing programs.
Solid financial and analytical skills.
Knowledge of legal principles pertaining to liability, negligence, contracts and insurance policies.
Demonstrated ability to document, analyze and make recommendations for risk or process improvements providing a clear point of view on business risks and needs.
7+ years of proven experience in managing teams including providing direction, understanding resource capability and successfully driving results through direct reports and a diverse network of vendors.
Highly developed communication, collaboration, decision-making, change management and organization skills to drive business performance and to foster a culture of continuous improvement.
Results-focused, action-oriented attitude demonstrating sound judgment and integrity beyond reproach.
Must embrace the continuous improvement mindset, seeking out new ways to do things to generate efficiencies or improve business performance.
Knowledge of risk management information system applications.
Proficiency in Microsoft Office suite.
Flexibility to travel (25% of time) to execute position responsibilities.