Insurance Risk Management - Vice President

We are looking for a seasoned Vice President - Insurance Risk Management to lead and enhance our insurance risk oversight framework across the Americas. This role is critical in ensuring robust risk governance, regulatory compliance, and strategic alignment with global risk policies. You will collaborate closely with senior stakeholders across business units, risk functions, and global headquarters.

Role Description

The Insurance Manager is responsible for overseeing the organization's insurance portfolio, ensuring adequate coverage for all operational and strategic risks that may impact a company's operations, financial stability, and overall profitability. They are responsible for identifying, assessing, and managing potential risks through an efficient, compliant and robust Insurance program. They analyze various Insurance risk factors, develop Insurance risk management strategies, and implement risk mitigation measures to ensure the company's compliance with regulatory requirements and industry best practices. The Insurance Manager collaborates with different departments, such as Legal, Procurement, Finance, and other operational leaders across the Firm to evaluate risks associated with insurance policies, investments, and business operations. The ideal candidate will have a strong background in insurance operations within the financial services sector.

Role Objectives

• Insurance Risk Assessment: Conduct comprehensive risk assessments to identify potential risks and evaluate their potential impact on the company's financial stability and profitability.
• Insurance Strategies: Develop and implement insurance strategies, policies, and procedures to minimize potential risks and ensure compliance with regulatory requirements.
• Risk Mitigation: Identify and implement risk mitigation measures, such as insurance coverage, reinsurance agreements, and risk transfer mechanisms, to minimize the company's exposure to potential losses.
• Compliance: Stay updated with industry insurance regulations and ensure the company's compliance with legal and regulatory requirements.
• Data Analysis: Analyze data related to insurance policies, claims, investments, and market trends to identify emerging risks and develop appropriate risk management strategies.
• Risk Reporting: Prepare and present risk reports to senior management, highlighting key risk areas, potential impacts, and recommended risk mitigation measures.
• Collaboration: Collaborate with different departments, including underwriting, claims, finance, and legal, to assess risks associated with insurance policies, investments, and business operations.
• Training and Education: Provide training and education to employees on Insurance practices, policies, and procedures to enhance risk awareness and promote a risk-conscious culture within the organization.
• Crisis Management: Develop and implement crisis management plans to effectively respond to and mitigate the impact of unforeseen events or disasters.
• Continuous Improvement: Continuously monitor and evaluate the effectiveness of risk management strategies and insurance processes, making recommendations for improvements as necessary.
• Operationally manage policy renewals on behalf of the organization, be the escalation point for insurance related Supplier contract negotiations, and support the organization with insurance coverage questions, COIs, and filing claims.

Qualifications and Skills

• Bachelor's degree in risk management, finance, business administration, or a related field. Professional certifications (e.g., Certified Risk Manager) including Associate of Risk Management (ARM), Chartered Property and Casualty Underwriter (CPCU) or Certified Risk Manager (CRM) preferred.
• 5 - 7 years' experience in insurance risk management, preferably within the financial industry.
• Strong knowledge of insurance products, underwriting principles, and regulatory requirements.
• Proficiency in data analysis, insurance and risk management tools like Coupa Risk Aware, etc.
• Familiarity maintaining a comprehensive portfolio of insurance coverage that includes Workers Compensation, Cyber, E&O, FI Bonds and others
• Broad practical knowledge of risk management and insurance process, claims management, basic accounting practices, finance and insurance industry and policy forms. Knowledge of casualty and property claims handling.
• Excellent analytical and problem-solving skills, with the ability to assess complex risks and develop effective risk management strategies.
• Strong communication and presentation skills, with the ability to effectively communicate complex risk concepts to both technical and non-technical stakeholders.
• Ability to work collaboratively with cross-functional teams and build strong working relationships.
• Attention to detail and ability to work under pressure in a fast-paced environment.
• Knowledge of industry best practices and emerging trends in financial insurance industry