Director, Risk Management

Advance Stores Company•Raleigh, NC

2d•Hybrid

About The Position

Advance Auto Parts’ Director, Risk Management, is responsible for strategic direction and management of the lifecycle of insured claims, primarily auto and general liability, workers’ compensation, and property claims, as well as claims under other insurance lines. The role leads a team handling assigned claims and directly manages severe risk matters. Reporting to a Vice President, Legal, the Director serves as the primary internal liaison with the company’s third-party administrator (TPA) and engages with carriers, outside counsel, actuaries, and other internal and external risk partners. The role focuses on resolving claims, reporting claim metrics, identifying loss-mitigation strategies, and optimizing total cost of risk. The position is based at Advance Auto Parts’ corporate headquarters in Raleigh, North Carolina, with a hybrid schedule of four days in the office and one day remote. The company describes itself as a leading automotive aftermarket parts provider serving professional installers and do-it-yourself customers. It is an equal opportunity employer and offers comprehensive health and wellness benefits; details are available through the benefits link in the posting.

Requirements

At least 10 years of progressive experience in risk management, corporate insurance, or a related discipline.
At least 5 years managing multi-line insurance and a high-volume claims program, with a proven record of developing and implementing claims management strategies.
Excellent knowledge of insurance and claims management principles and related legal concepts.
Hands-on claim resolution experience, attention to detail, and negotiation expertise.
Ability to make quantitative, data-driven decisions, interpret actuarial data, loss trends, and financial analyses, and translate claims data into actionable risk insights and expense management.
Leadership, communication, executive presence, and presentation skills, including the ability to influence and advise senior executives and develop a high-performing claims team.
Ability to build trusted relationships with internal and external business partners.
Commitment to process improvement, vendor management, and program and cost optimization.
Familiarity with risk management information systems, such as Origami Risk or Riskonnect, and data visualization or analytics tools and similar platforms.
Experience overseeing TPAs and managing TPA performance.
Experience leading a team that manages and resolves claims.
Bachelor’s degree in Risk Management, Insurance, Business Administration, Finance, or a related field.

Nice To Haves

Experience in the retail industry, fleet-intensive operations, or other large-scale, multi-location business environments.
Experience at a Fortune 500 or equivalent large-enterprise organization.
AIC, CRMP, ARM, CPCU, or another risk professional designation.
Master’s degree (MBA), Juris Doctor (JD), or another advanced degree.

Responsibilities

Develop and implement enterprise-wide claims management frameworks, policies, and protocols.
Direct claim strategies, monitor reserving accuracy, and manage claims to minimize total cost of risk.
Supervise and develop the team in assessing, managing, and making decisions about assigned claims.
Make decisions under uncertainty and pressure while balancing risk mitigation with business objectives and cost considerations.
Oversee use of the risk management information system and similar platforms.
Advise the business on risk-related decisions, regulatory and compliance matters, and risk transfer, including indemnification, insurance requirements, and subrogation.
Partner with other departments to manage claims, develop business insights and mitigation plans, and reduce risk.
Manage vendors supporting claims-related work in addition to the TPA.
Serve as the primary interface with TPA leadership and direct and supervise TPA handling of the enterprise’s workers’ compensation, auto, and general liability claims.
Establish and enforce TPA performance benchmarks, service-level agreements, and key performance indicators; oversee performance and reporting to ensure cost effectiveness and service quality.
Conduct regular claims audits and file reviews to ensure TPA compliance with company guidelines, reserving standards, and regulatory requirements.
Analyze loss trends, loss runs, and claims data to identify root causes and develop proactive loss-control initiatives.
Prepare and synthesize claims-related reporting and present risk assessments, trend analysis, TPA performance, and reserve assessments to senior leadership.
Collaborate with Finance on claim costs, loss reserves, risk modeling, forecasting, actuarial analyses, and total cost of risk.