Career Center
Port Orchard, Washington
Port Orchard, Washington
Port Orchard, Washington
South San Francisco, California
Greensboro, North Carolina
Mount Pleasant, Michigan
Kutztown, Pennsylvania
Posted: 10-Feb-23
Location: Evanston, Illinois
Salary: Open
Internal Number: 47096
Department: Risk Management
Salary/Grade: EXS/13
Job Summary:
The Director, Risk and Insurance manages Northwestern’s insurance and risk finance programs, a complex operation involving commercial, captive and self-insurance mechanisms. Reporting to the AVP Risk & Compliance, the Director will manage primary day-to-day insurance and risk finance needs, strategically manage the risk finance programs, and manage the daily operations of Northwestern’s captive insurance company, inclusive of assessing appropriateness of coverage for reported incidents and other matters. The Director will also lead broader risk management efforts, such serving as a consultant to campus partners, reviewing contract terms, claims management and certain budget and financial needs, and will collaborate with key stakeholders (e.g., Environmental Health and Safety, Facilities Management, etc.) to identify opportunities for loss prevention. The Director will oversee a team including claims staff and the student health insurance office.
Specific Responsibilities:
Work Complexity:
- Uses sound judgement to make decisions and acts independently in most facets of the job, showing excellent judgement in escalating matters as needed. EE understands institutional strategy and priorities and adapts to account for the same.
- May create policy or develop protocols followed by the office, including communication strategy and implementation.
- Administers and enforces departmental and University policy.
Budget & Financial:
- Ensures accurate financial transactions associated with insurance program.
- Assists in developing budgets and ongoing financial management of insurance programs.
- Level I NU Financials approver.
- Reviews & reconciles actual expenses to budget per Northwestern Audit guidelines.
Insurance Management:
- Create a highly performing insurance program.
- Support the insurance renewal process, including sourcing of information, completion of applications and submittal to insurance brokers in advance of departmental timeline. Ensures accuracy of data and information provided to insurance markets and implements qualitative/subjective insight into renewal submissions to improve University’s position.
- Determine list of requested coverage enhancements by reviewing policies and identifying uninsured risk areas or conflicting policy wording.
- Ensures timely quotes are received from brokers.
- Reviews insurance quotes against expiring programs and makes recommendations based on findings and understanding of University risks.
- Ensure insurance policies are received in a timely manner. Review the policies for accuracy and follow-up with brokers for corrections as needed.
- Log policies in department’s RMIS.
- Works with campus partners to identify and develop special risk finance solutions as needed, such as construction insurance, TULIP programs, etc.
- Oversee the performance of the student health insurance plan.
Captive Insurance Management
- Acts as the Secretary/Assistant Secretary for the University’s captive insurance company.
- Manage outside vendors and consultants.
- Ensures annual captive calendar is kept updated and that all dates are met.
- Oversees the annual financial audit processes, providing relevant documentation to the auditors as requested.
- Oversee the state of IL audit process.
- Coordinate and attend all captive board meetings, taking minutes.
Claims Management:
- Oversee claims staff to ensure that claims are being managed appropriately and efficiently.
- Ensure partnership with Office of General Counsel is sound.
- Work with campus partners to identify mechanisms for timely notice of claims to Risk Management.
- Ensure all claims are reported to correct insurance carriers in a timely manner. Ensure receipt of claim by carrier. Review reservation of rights letters for coverage issues and identify errors or opportunities for improved positions. Regularly communicate with claims examiners to ensure University’s position on all claims is as strong as it can be.
- Be “on call” and available for emergency response at all times.
Other Risk Management Responsibilities:
- Review contracts and agreements for appropriate risk allocation and insurance terms.
- Provide risk assessment and consulting services to campus partners.
- Identify improved processes and technology solutions where possible.
- Assist with certificates of insurance or other insurance support services as needed.
- Support and collaborate with Business Continuity or Environmental Health and Safety functions as needed.
- Represent the interests of the AVP and office where required.
Management:
- Manage claims staff and student health insurance office. Develop future leaders within the Office of Risk Management.
Miscellaneous
- Performs other duties as assigned.
Minimum Qualifications:
- Successful completion of a full 4-year course of study in an accredited college or university leading to a bachelor's or higher degree in a major such as business or finance.
- 5+ years insurance experience, either at an insurance carrier, broker, or internal risk management function.
Minimum Competencies: (Skills, knowledge, and abilities.)
- Strong communication skills.
- Strong technical insurance aptitude. Understanding of insurance process. Ability to comprehend and navigate complicated policy wording.
- Financial analysis skills to support decision making.
- Ability to work with a diverse set of stakeholders and provide excellent customer service.
- Basic understanding of budget management.
- Basic understanding of captive insurance, actuarial modeling and other complex risk finance solutions.
- Strong project management skills.
- Time management and demonstrated ability to prioritize.
- Ability to manage multiple tasks at one time.
- Strong desire to learn and take on additional responsibility.
Preferred Qualifications:
- Degree in risk management or insurance.
- Insurance underwriting or brokering experience.
- Experience in higher education.
- ARM or other professional designations.
Benefits:
At Northwestern, we are proud to provide meaningful, competitive, high-quality health care plans, retirement benefits, tuition discounts and more! Visit us at https://www.northwestern.edu/hr/benefits/index.html to learn more.
Work-Life and Wellness:
Northwestern offers comprehensive programs and services to help you and your family navigate life’s challenges and opportunities, and adopt and maintain healthy lifestyles.
We support flexible work arrangements where possible and programs to help you locate and pay for quality, affordable childcare and senior/adult care. Visit us at https://www.northwestern.edu/hr/benefits/work-life/index.html to learn more.
Professional Growth & Development:
Northwestern supports employee career development in all circumstances whether your workspace is on campus or at home. If you’re interested in developing your professional potential or continuing your formal education, we offer a variety of tools and resources. Visit us at https://www.northwestern.edu/hr/learning/index.html to learn more.
Northwestern strongly recommends COVID-19 vaccinations and boosters for people who can obtain them as a critical tool for minimizing severe illness. More information can be found on the COVID-19 and Campus Updates webpage.
The Northwestern campus sits on the traditional homelands of the people of the Council of Three Fires, the Ojibwe, Potawatomi, and Odawa as well as the Menominee, Miami and Ho-Chunk nations. We acknowledge and honor the original people of the land upon which Northwestern University stands, and the Native people who remain on this land today.
Northwestern University is an Equal Opportunity, Affirmative Action Employer of all protected classes, including veterans and individuals with disabilities. Women, racial and ethnic minorities, individuals with disabilities, and veterans are encouraged to apply. Click for information o
