Director of Risk Management and Insurance - Military Veterans

The Office of Risk Management and Insurance manages programs that protect the University from the financial consequences of various risks. Responsibilities include directing insurance programs and loss control activities, identifying exposures, recommending solutions, and promoting loss prevention. The Office of Risk Management and Insurance aligns itself with the University's Enterprise Risk Management program, which helps identify the greatest spectrum of risks that might upset the University's strategic goals. The Enterprise Risk Management program is managed through the Office of Health, Safety, and Risk management, a separate unit within the Office of the Executive Vice President for Finance & Operations.

The Director of Risk Management and Insurance will provide strategic leadership and direction for the University of Minnesota's property, casualty and workers' compensation insurance and risk management programs, assessing and identifying risks that could impede the reputation, safety, security, or financial success of the organization.

The salary range for this position is $141,799 - $163,000, DOQ

Duties/Responsibilities:

• (20%) Strategic leadership, management, and oversight of the University's property and casualty insurance program which constitutes a total cost of risk of approximately $20 Million, including:
  • A Bermuda-based captive insurance company - (general, professional, non-profit, and auto liability). The candidate is responsible for all aspects of insurance coverage running through the captive, but not governance and financial operations of the captive.
  • Workers compensation, and commercial insurances (property, non-owned aviation, marine hull and liability, etc.)
  • Commercial insurances including Property, Extra Minnesota coverages (excess General, Auto and Educators' Legal Liability, and Workers Compensation), Non-owned Aviation, Marine Hull and Liability (Duluth Research Vessel), Excess Clinical Trial Liability, Etc.
• (20%) Consults on risk for University units and departments.
• (15%) Provide leadership and supervise a team of three direct reports.
• (10%) Review the insurance provisions of proposed University contracts
• (10%) Reviews and assesses risk management policies and protocols; makes recommendations and implements modifications and improvements.
• (10%) Recommends and implements risk management solutions such as insurance, safety practices, business continuity plans, or recovery measures.
• (5%) Conducts risk assessments, collecting and analyzing documentation, statistics, reports, and market trends.
• (5%) Drafts and presents reports and proposals to executive leadership and senior staff.
• (5%) Performs other duties as directed.

• Bachelor's degree, preferably in Risk Management, Finance, or Business Administration.
• At least 12 years of experience in a combined commercial insurance environment (underwriting, brokerage side, risk management).
• Experience managing relationships with external insurance vendors.
• Experience reviewing and negotiating insurance contracts.
• Exposure to adjustments of complex claims.
• Broad knowledge of the principal lines of Commercial Insurance, including
  • Property
  • General and Professional Liability
  • Automobile Liability
  • Workers Compensation

• Master's degree.
• Industry-specific certifications, such as Associate in Risk Management (ARM) or Chartered Property Casualty Underwriter (CPCU).
• Financial skills for risk assessment that includes managing budgets and participating financial planning and analysis of insurance portfolios.
• Work experience in higher education or mission driven organization.
• Strong ability to prioritize and triage.
• Ability to communicate effectively with a very broad set of clients.
• Excellent verbal and written communication skills, facilitating and presenting, critical thinking, and analytical or problem solving skills with a strategic mindset.
• Strong leadership ability with organizational savvy to support the University's mission and purpose and has the ability to persuade and engage with staff across all of our campuses.
• Ability to network and build relationships with other higher education institutions and professional organizations.
• Basic proficiency with Microsoft Office Suite or related software to prepare reports, presentations, and policies.