PRIMARY PURPOSE Develops, recommends, and administers various risk management programs, primarily managing insurance programs, to maintain maximum protection of the corporation's assets at the most economical rates. Coordinates and oversees the investigation and reporting of accidents/claims under each insurance program. Responsible for overall insurance budget and development of the related cost allocations. Manages renewal of an extensive insurance coverage portfolio for all divisions and operations. MAJOR RESPONSIBILITIES AND TASKS/DUTIES OF THE POSITION - Oversee the design, procurement and management of global insurance programs - Coordinate the compilation and preparation of global underwriting data requests for all insurance policy renewals (i.e. property, casualty, financial programs etc.), meet with brokers and underwriters, and manage insurance policy negotiations, set renewal marketing and insurance placement strategies - Responsible for risk management budget, allocation of costs to business units, processing and allocating all invoices and effect corresponding journal entries and reserving process - Manage insurance claims and maintain loss statistics, including collect and prepare all claim supporting documents and work with adjusters to accurately evaluate claims, negotiate settlements, and execute release documents - Manage the worker's compensation self-insurance program; ensure compliance with the state laws. Conduct quarterly claim reviews and collaborate with actuary to set appropriate self-insurance reserves - Administration of insurance policy audits and self-insurance filings - Coordination of certificates of insurance (proof of insurance) requests and inquiries - Promptly review insurance terms in contracts, vendor agreements, etc., as requested by Legal Department - Support Legal Dept. with the handling of litigated claims including coverage review, reporting, and information gathering - Manage Surety Bonds Program - ensure compliance and accuracy working with surety broker and internal department contacts - Manage Self-Insurance program, including filings and responding to request for data in compliance with individual state requirements - Manage Third-Party Administrator (TPA) relationships, insurance adjusters, account executives, outside counsel, and broker claim consultants - Work with divisions to ensure compliance of local regulatory requirements related to insurance in foreign countries of operation JOB SPECIFIC COMPETENCIES - Minimum 5-7 years in risk management or insurance field - Knowledge of risk management and insurance coverage terms and issues - Expertise in a variety of insurance policies including property, liability, financial professional, aviation, marine, and procurement of foreign policies - Knowledge of finance and accounting required, including familiarity with methods for allocating risk management costs, setting of reserves for insured claims per GAAP and familiar with communicating with auditors on these matters INTERNAL & EXTERNAL RELATIONS - Internal: Accounting, Human Resource, Legal, Engineering, Treasury, and Operations - External: Brokers, Underwriters, Attorneys, Claim Adjusters, Service Vendors, and Consultants EDUCATION AND CERTIFICATION - Bachelor's degree in Risk Management, Business, Finance, or related field preferred - Associate in Risk Management (ARM) or related professional risk management/insurance certification All qualified applicants will receive consideration without regard to race, age, color, sex (including pregnancy), religion, national origin, disability, sexual orientation, gender identity, marital status, military status, genetic information, or any other status protected by applicable laws or regulations. GPAC (Growing People and Companies) is an award-winning search firm specializing in placing quality professionals within multiple industries across the United States for the past 30 years. We are extremely competitive, client-focused and realize that our value is in our ability to deliver the right solutions at the right time.
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