Summary: The Director, Risk Management plays a pivotal role in understanding the strategic vision of the company to ensure comprehensive insurance coverage and adherence to risk management/mitigation practices and protocols. This position requires collaborating with various departments and stakeholders to identify risks, mitigate potential exposures, and provide regular reporting to supervisors and C-suite executives. Your ability to translate complex information into actionable solutions will be crucial in influencing decision-making across all leadership levels.
Responsibilities: - Corporate Insurance & Risk Financing
- Lead the procurement, design, placement, and ongoing administration of all corporate insurance programs, including (but not limited to) Aviation, Property & Casualty, Workers' Compensation, Cyber, FINPRO, D&O, Environmental, and other specialty coverages.
- Own and manage the company's global insurance portfolio, ensuring coverage adequacy, consistency, and cost effectiveness.
- Develop and implement insurance strategy, including renewals and market placements, in partnership with brokers and carriers.
- Evaluate risk retention strategies, deductibles and alternative risk transfer mechanisms to optimize total cost of risk.
- Develop and maintain global insurance guidelines and standards to ensure consistent application across all operations and geographies.
- Broker, Carrier & Third-Party Management
- Serve as the primary liaison with insurance brokers, carriers, consultants, and third-party administrators.
- Lead broker selection, performance management, and ongoing relationship governance.
- Maintain executive-level relationships with global insurance carriers and conduct regular market benchmarking and coverage analyses.
- Risk Policy, Governance & Enterprise Risk Management
- Establish and maintain global risk management policies, procedures, controls, and governance frameworks.
- Lead enterprise risk management (ERM) initiatives, including risk identification, assessment, reporting, and mitigation.
- Utilize data and risk analytics to identify trends, emerging risks, and areas of exposure.
- Lead business continuity planning efforts and support organizational resilience initiatives.
- Ensure compliance with regulatory, contractual, and insurance requirements across all jurisdictions in which the company operates.
- Provide regular risk and compliance reporting and recommendations to C-suite leadership and other senior stakeholders.
- Contractual Risk Transfer & Legal Collaboration
- Partner with Legal to assess and manage litigation risk, contractual risk transfer provisions, indemnification clauses, and insurance requirements.
- Support Legal/Contract Administration team in negotiating insurance-related, risk-related, and commercial contract terms (e.g., indemnities, limitations of liability, insurance provisions) to align risk allocation with business objectives and risk appetite.
- Provide insurance and contractual risk guidance for mergers and acquisitions, joint ventures, and major capital projects.
- Claims Oversight
- Establish governance and oversight structures for claims management across all lines of coverage.
- Monitor claims trends, loss development, and reserving practices.
- Partner with internal stakeholders to mitigate loss exposure, manage complex claims, and improve recovery outcomes.
- Financial & Regulatory Oversight
- Manage insurance budgets, premium allocations, and cost recovery mechanisms.
- Ensure compliance with public company disclosure requirements related to risk and insurance, coordinating with Internal Audit as needed.
- Cross-Functional Leadership & Advisory
- Act as a trusted advisor to Operations, Engineering, EHS, Supply Chain, Commercial, Treasury, and other business functions.
- Collaborate with Treasury on risk financing strategies, cash flow considerations, and capital structure impacts.
- Provide guidance to internal stakeholders on risk mitigation, loss prevention, insurance requirements, and best practices.
- Lead internal education and awareness initiatives to elevate organizational risk maturity.
Qualifications / Requirements: - Bachelor's degree in business administration, Risk Management, Finance, or a related field. Master's degree is a plus.
- Preferably 10 years of proven experience in insurance and risk management, preferably in a global company or related industry.
- In-depth knowledge of insurance policies, safety protocols, and risk management best practices.
- Strong negotiation and relationship-building skills to work effectively with insurance brokers and markets.
- Proven ability to develop and implement risk management strategies and programs.
- Excellent communication and presentation skills, with the ability to convey complex information to diverse audiences.
- Proficiency in project management and process improvement methodologies.
- Proficiency in MS Office Suite.
- Core competencies include but aren't limited to Risk Management, Regulatory Compliance, Process Improvement, Broker & Carrier Relations, Negotiations & Contracts, Project Management, Strategic Planning, etc.
Key Competencies:- Strategic and analytical thinking
- Executive level communication and presentation skills
- Sound judgment and decision making under uncertainty
- Leadership, collaboration, and stakeholder management
Travel/Misc.: - Domestic and International travel will be required as needed.
