Executive Director, Risk Management

Insurance Manager

This position provides leadership and direction through senior managers to identify, evaluate and plan strategies for the University's insurance programs in order to maximize protection of assets at the most economical rates and minimize effects of fortuitous loss.

Responsibilities include :

• Directing the University's insurance programs to maximize protection of assets at the most economical rate and minimize effects of fortuitous loss.
• Managing employees through subordinates, usually senior managers. Establishing performance goals, allocating resources and assessing policies for direct subordinates.
• Reporting annually to the University Board of Trustees regarding University insurance programs.
• Managing the claims associated with Workers Compensation, in coordination with Human Resources.
• Working closely with the Executive Director of Compliance and Internal Audit on establishing a framework for University Enterprise Risk Management.
• Working directly with the University of Chicago Medical Center to support their risk management needs.
• Maintaining sufficient reserves to pay known and incurred claims.
• Coordinating safety and loss prevention services, especially those provided by insurance companies, with those provided by the Office of Environmental Health and Safety and other units.
• Directing the claims management process of workers' compensation and ensuring compliance with federal and state requirements.
• Managing claims reporting for the University and timing submission of claims reporting to the insurance carriers.
• Conducting analyses on the risk program to create a financially efficient insurance program while maximizing risk coverage.
• Participating on University committees as assigned.
• Participating in the operational response to emergency or crisis situations, including travel, facilities, pandemic, weather and cyber, among others.
• Developing and directing risk management strategies and policies which identify, assess and mitigate the impact of risks originating from or impacting the University's portfolio of activities / interests. Managing the analysis and reporting of risk management strategies to ensure compliance with University objectives.
• Overseeing the negotiation of contract insurance requirements as necessary.
• Performing other related work as needed.

Minimum qualifications include a college or university degree in a related field and 10+ years of work experience in a related job discipline.

Preferred qualifications include a bachelor's degree in risk management, economics, finance or related field, an MBA or other advanced degree, background in the higher education industry, understanding of healthcare-specific insurance, and professional designations such as ARM, CRM, CPCU.

Technical skills or knowledge include personal computer skills with knowledge of Word, Excel, PowerPoint, and Access, understanding insurance markets and knowledge of property and casualty insurance products, insurance program design and alternative risk transfer techniques, understanding and interpreting contracts and insurance policies, knowledge of statistical and capital budgeting techniques and general accounting principles, conducting financial analyses related to evaluating risk coverage and financial cost, including captive management, basic working knowledge of property and liability loss prevention, general understanding of safety practices, project management skills, mathematical and analytical ability, and general understanding of higher education and healthcare compliance and regulatory environment.

Preferred competencies include working successfully with the University community of faculty, students and staff and with external organizations, recognizing risk issues in complex, ambiguous activities and relationships, effective written and oral communication skills, organizational and interpersonal skills supported by a strong attention to detail, strong negotiating skills, demonstrated enthusiasm and motivation, with the capacity to learn to build on skills.

Working conditions include travel across campus multiple times and traversing through buildings damaged by fire, windstorm, etc. and access non-public building spaces including attics, basements, mechanical rooms, steam tunnels.

Application documents required include a resume / CV, cover letter, and references contact information (3).