Director, Insurance & Risk

Macy's•Springdale, OH

3d•Hybrid

About The Position

The Director, Insurance & Risk serves as the enterprise leader responsible for the strategic management and governance of the Company's insurance programs, risk financing activities, captive insurance operations, claims administration, and insurance-related risk transfer strategies. This role protects enterprise assets through effective insurance program oversight, optimization of total cost of risk (TCOR), and alignment of risk financing solutions with the organization's evolving business objectives. The Director provides strategic leadership for the Company's captive insurance structure, reinsurance strategy, and opportunities to expand captive utilization. Working closely with Finance, Treasury, Tax, Legal, brokers, actuaries, carriers, and captive service providers, the role drives risk financing innovation, enhances claims outcomes, improves cost efficiency, and strengthens the organization's overall risk management and insurance governance framework.

Requirements

Insurance Program Expertise: Deep knowledge of enterprise-wide insurance program design, underwriting, policy wording, claims management, alternative risk financing, and captive insurance structures.
Risk Financing & Captive Management: Demonstrated experience leading captive insurance programs, retention analyses, actuarial reviews, reinsurance placements, and risk financing strategies.
Financial Acumen: Strong understanding of insurance budgeting, retained loss forecasting, captive financial performance, and total cost of risk measurement and optimization.
Relationship Management: Proven ability to lead strategic relationships with executive leadership, brokers, insurers, reinsurers, regulators, actuaries, and third-party administrators.
Stakeholder Engagement: Builds trusted relationships with business units (e.g., Operations, HR, Legal, Tax, Safety), insurance brokers, strategic service providers, insurance carriers, and other external partners.
Negotiation Skills: Effective in risk-transfer negotiations, with a holistic view of relationships, pricing and services.
Results-oriented leadership – Inspires and drives teams to achieve measurable outcomes, ensuring accountability and alignment with organizational goals.
Process Improvement – Demonstrated ability to identify inefficiencies and drive automation or enhancements in risk/insurance workflows.
Problem Solving & Decision Making – Strong critical thinking skills with the ability to troubleshoot issues and make informed decisions.
Communication – Excellent verbal and written communication skills to effectively convey complex information across teams and to external partners.
Time Management – Ability to prioritize and manage multiple responsibilities and deadlines in a fast-paced environment.
Ethics & Integrity – Unwavering commitment to ethical standards, with a reputation for operating transparently and earning trust across all levels of the organization.
Bachelor’s degree in Risk Management, Finance, Business Administration, or related field; CRM (Certified Risk Manager) preferred.
+10 years of risk and insurance experience with a large corporate enterprise, preferred captive management experience.
Proven track record of leading teams and influencing senior executives.
Excellent analytical, strategic thinking, and problem-solving skills.
Strong leadership, communication, and relationship management abilities.

Nice To Haves

CRM (Certified Risk Manager) preferred
preferred captive management experience

Responsibilities

Serve as the enterprise owner of all corporate insurance programs, including Property, General Liability, Workers' Compensation, Automobile Liability, Directors & Officers, Fiduciary, Crime, Cyber, Employment Practices Liability, Travel Accident, Environmental, Aviation, Marine Cargo, and all other specialty insurance coverages.
Lead all insurance program renewals, including exposure collection, marketing strategy, coverage negotiations, insurer selection, renewal presentations, executive communications, and implementation.
Ensure policy language, coverage grants, endorsements, limits, retentions, deductibles, and exclusions appropriately protect the organization's assets, operations, and strategic objectives.
Oversee maintenance of all insurance policies, certificates of insurance, insurer filings, coverage schedules, and insurance governance documentation.
Assist in strategic oversight and governance of the company’s captive insurance structure.
Participate in annual captive business planning, feasibility analyses, financial reviews, actuarial assessments, and performance reporting.
Evaluate opportunities to increase captive participation and expand utilization to additional lines of coverage where economically beneficial.
Partner with actuaries, captive managers, reinsurers, brokers, and finance leaders to optimize risk retention structures and reduce total cost of risk.
Evaluate alternative risk financing solutions, deductible structures, self-insured retentions, collateral requirements, and emerging insurance market opportunities.
Maintain executive ownership of all significant Workers’ Compensation, General Liability, Property, Auto Liability, Cyber, EPL, and other insured and self-insured claims.
Direct claims management strategy and governance across carriers, third-party administrators, defense counsel, and internal business stakeholders.
Participate in claim stewardship reviews, reserve reviews, and litigation reviews to ensure appropriate claims handling and financial accuracy.
Drive claim closure initiatives, recovery opportunities, subrogation efforts, and loss mitigation programs.
Develop and monitor KPIs related to claim frequency, severity, closure rates, litigation outcomes, reserve development, and total claim cost trends.
Partner with Safety, Human Resources, Legal, Asset Protection, and Operations teams to identify trends and implement corrective actions designed to reduce loss frequency and severity.
Develop, manage, and forecast the enterprise insurance and risk management budget.
Monitor premiums, retained losses, broker compensation, captive operating expenses, actuarial fees, consulting expenses, legal costs, and third-party service provider expenditures.
Identify opportunities to improve cost efficiency while maintaining appropriate levels of risk protection and financial security.
Lead annual total cost of risk (TCOR) analyses and present recommendations to executive leadership.
Relationship management with insurance brokers, carriers, reinsurers, TPAs, captive managers, actuaries, consultants, and other risk management service providers.
Lead annual stewardship meetings, service performance reviews, and strategic planning sessions with external partners.
Negotiate coverage enhancements, fee structures, service expectations, and performance standards with insurance market participants.
Maintain awareness of insurance market conditions, emerging risks, and industry trends to proactively position the company's insurance portfolio.
Establish and maintain enterprise insurance governance processes to ensure business units appropriately disclose operational, contractual, and strategic changes impacting risk exposures.
Partner with Legal and Procurement to establish insurance and indemnification standards that support effective contractual risk transfer.
Support mergers, acquisitions, divestitures, and strategic initiatives through insurance due diligence, coverage assessments, and integration planning.
Prepare executive-level reports and presentations regarding insurance program performance, claims activity, emerging risks, captive utilization, and TCOR initiatives.
Foster a risk-aware culture throughout the organization through education, communication, and training.
Lead, mentor, and develop a high-performing risk management team.
Collaborate with cross-functional teams (Operations, Legal, HR, Tax, Legal) to support corporate objectives.

Benefits

comprehensive health and wellness coverage
401(k) match
paid time off
eight paid holidays
continuous learning and leadership development
Merchandise discounts
Performance-based incentives
Annual merit review
Employee Assistance Program with mental health counseling and legal/financial advice
Tuition reimbursement