Develop, design, implement and manage ADP’s risk management and risk transfer strategy and programs on a global basis. Includes managing the insurance program renewals, marketing and negotiating price and service with insurance carriers, claims administrators, brokers, and vendors. Assist in the management of the risk management service provided by the insurance brokers and consultants, outside accountants and actuaries which constitute approximately 20 extended staff reports. Manage the risk management accounting responsibilities with ADP Corporate Finance and the outsourced accounting and actuarial services with the captive insurance company. Oversee the delivery of engineering property loss prevention and employee safety services. Identify and evaluate ADP’s exposure to casualty, property and business interruption losses and develop programs and techniques to mitigate the potential for loss. Manage ADP’s financial cost of risk allocation process, and analyze, collect and evaluate all necessary data on a global basis. Perform risk management due diligence and integration support on all acquisitions and divestitures. Manage and oversee insured incidents that are covered by ADP’s internal insurance deductible program and any claims that directly impact the insurance carriers.
- PEO Workers’ Compensation Exposure Management: Oversee and direct the financial activity of the captive insurance company, ADP Indemnity, which provides protection to ADP from TotalSource’s workers’ compensation program exposure. Manage the activity of the captive accountants, the independent actuary staff and all associated audit activity with state regulators and ADP external and internal auditors. Analyze and report on the actuarial studies. Develop presentations to senior management and the ADP Audit Committee on the financial objectives and status of the captive. Provide underwriting assessments of TotalSource’s business, analysis on loss trends, risk transfer testing and pricing for self-insurance and reinsurance placements. Provide input and consultation to TotalSource on best in class claim cost control services. Develop relationships and interest with the senior management of insurance companies to support risk transfer schemes. (30%)
- Insurance Program Renewals: Assist in the design, development, implementation and monitoring of insurance programs, self-funding, captives and other risk financing alternatives for Executive Risk, Professional and Financial liability, Cyber and Data Breach liability, Property & Business Interruption, Third Party General, Auto & Excess liability and Workers’ Compensation exposures for ADP globally. Includes the development of program specifications, presentations, negotiation of terms and coverage conditions, and implementation. Ensure compliance to local insurance regulations and laws. Work with insurance brokers, insurers, actuaries, accountants and ADP senior management to manage underwriting process. (15%)
- Cost Of Risk Analysis: Manage the property and casualty cost of risk allocation process (~$25 million). Create methods for allocating insurance program costs and actual claim losses to the ADP business units. Manage the actuarial review process to ensure that ADP’s liability claim reserves are adequate. Oversee the collection and organization of exposure data worldwide from numerous local ADP associates. (10%)
- Property Loss Control and Employee Safety Programs: Oversee the delivery of property loss prevention engineering services provided by outside firms and work with Corporate Facilities management to ensure that recommendations are satisfied. Oversee the delivery of safety and accident prevention programs for ADP associates including safety committees, ergonomic assessments, indoor air quality assessments and other occupational health and safety related matters. Provide on the spot support and consultation as needed to ADP business units. (10%)
- Business Development Due Diligence: Provides lead support and assistance on due diligence work on all acquisitions as well as risk management lead for divestitures. Identify and quantify the risks associated with each deal and provide possible solutions to control the risk. Develop and recommend new insurance programs when necessary to transfer the risk associated with a business that is different than ADP’s business. Develop detailed insurance program integration plans and manage the various run-off casualty programs associated with acquisitions. Provide orientation and integration to the new business management teams to ADP’s risk management programs. (10%)
- International Liability: Identifies, analyzes, evaluates and implements international liability programs for international business units for general liability, automobile, professional liability, and director’s and officer’s liability. Analyzes the local country laws regarding admitted versus non-admitted insurance and ensure compliance with all country specific insurance laws and analyzes the premium tax advantages/disadvantages of local versus non-admitted insurance. Manages international liability claims. Oversees internal annual survey of local ADP international insurance policies to ensure that there is no duplication with ADP’s global programs. (10%)
- Contract Review: Reviews numerous ADP client service, vendor and supplier contracts to ensure that the insurance language, indemnification and limitation of liability meet ADP’s guidelines. (10%)
- Handle various risk management projects as assigned many of which include analytical thinking and problem solving (5%)
- Education: Bachelor’s Degree required. Insurance/Risk Management designations, certifications, specific professional training or post graduate degree preferred.
- Experience: Extensive risk management experience (10-15 years) preferably with a multinational corporation. This experience should include captive oversight, all lines of insurance with emphasis on cyber liability, D&O and workers’ compensation, safety, industrial hygiene, engineering loss control and ergonomic expertise, large loss experience, claims management and self-insurance plans.
- Generic Skills: Excellent written and verbal communication skills necessary. Strong presentation skills suitable for ADP Audit Committee presentations. Must be able to coordinate multiple projects simultaneously. Strong attention to detail. Excellent organizational skills.