Director of Risk Management

Alliant Insurance Services • Irvine, CA

1d

About The Position

Performs the assessment and management of the company's corporate risks; setting standards for review and negotiation of insurance provisions in contracts; direct negotiation of key contracts; and placement and renewal of corporate insurance policies.

Requirements

• Bachelor's Degree in Risk Management, Finance or related discipline
• Ten (10) or more years working in a Risk Management leadership capacity
• Expertise at analyzing risks appropriately and developing programs, processes and controls for managing risks and mitigating losses
• Experience in exposure to all lines of coverage, direct claims responsibility, oversight of the insurance transaction, and managing insurance broker relationships
• Experience working for a broker
• Ability to work for and with others on projects, either as part of a team or team leader
• Excellent communication and conflict management skills
• Interpersonal skills needed to maintain good working relationships with brokers, insurers, vendors, clients and all levels of employees
• Excellent contract review and negotiation skills
• Demonstrated ability in project planning, decision making, results delivery and team building
• Flexibility regarding assignments, responsiveness to the needs of the company and its clients
• Strong commitment to ethical behavior

Responsibilities

• Establishes, evaluates and performs best practices for risk management
• Develops, implements and monitors risk management policies of the company
• Oversees corporate audit program
• Develops and manages the corporate insurance budget
• Develops and maintains risk management procedural manuals
• Implements, monitors and maintains effective record keeping systems for the full range of risk and legal records and documents
• Works directly with senior management to identify risk strategies and corporate projects
• Identifies, secures, renews and manages all necessary and prudent commercial insurance to manage risk
• Monitors insurance policies to ensure adequate coverage and communicates policy coverage to appropriate staff to ensure wide spread knowledge of coverage options and parameters
• Provides additional coverage as needed and provides certificates of insurance coverage as requested
• Manages the insurance renewal process, including staging multiple renewals simultaneously
• Partners with CAO on final proposals and recommendations
• Effectively manages and coordinates the activities of brokers and insurers
• Reports, monitors and completes all claims
• Analyzes, recommends, implements and monitors policy and procedure revisions to improve loss prevention
• Coordinates with claims adjusting staff to effectively investigate and address losses and prevent further loss
• Develops insurance budgets for division management using appropriate allocations methodology
• Manages certificates of insurance
• Verifies certificates meet contractual wording/requirements
• Performs negotiations for all insurance programs company has in place
• Works with Producer to verify all carriers used or approached for insurance meet solvency requirements
• Maintains and manages carrier approval process for ratings below A-
• Informs CAO about carrier rating changes on a quarterly basis and summarizes all A- or below rated carriers for reevaluation with SMDs and Operating Committee
• Verifies and recommends actions to be taken with carrier rating changes according to procedure
• Reviews all insurance policies for accuracy and negotiate changes/corrections through broker
• Prepares professional submissions to portray company in most favorable light to Underwriters
• Collects underwriting information
• Reviews costs associated with all claims handling and develops strategy to improve risk performance
• Continual communication with Senior Management and coordination with Legal Counsel on claims management
• Identifies lessons learned relative to claims in order to feed back to the business
• Interfaces with all corporate and operational leaders on risk reduction strategies
• Develops/maintains allocation systems to allocate RM costs to appropriate areas within the company
• Analyzes, develops and trends historical data to forecast probabilities of various loss levels
• Works with insurance companies to accurately set reserves for known exposure
• Leads corporate efforts on disaster recovery planning, business continuity, and local safety committees
• Monitors developments in the regulatory framework and proactively adapts risk management process and procedures whenever necessary
• Other duties as assigned

What This Job Offers

• Job Type: Full-time
• Career Level: Director