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Job Summary
Located in Chicago, IL, this Senior Risk Manager is responsible for the Corporate Risk Management function inclusive of: risk finance, Captive insurance company reporting and oversight, loss prevention, and claims management.
Essential Functions:
Responsible for participating in formulating policy, suggesting & coordinating Enterprise loss prevention and control activities, and determining risk financing mechanisms
Designs, negotiates and approves Property and Casualty Insurance for the Enterprise
Manages the Corporate Property & Casualty claim payment process: Includes mass tort class actions, anti-trust lawsuits, directors and officers lawsuits, cyber liability incidents, managed care and insurance company liability actions; oversees process from initiation to settlement proposal; negotiates claim resolution with insurance carriers as needed
Manages relationships with insurance brokers, Property & Casualty underwriting community, and other third-party administrators, and other risk-related service providers
Manages day to day operations of the Company’s captive insurance company, including monthly claims reporting, annual regulatory filings and audit
Oversees the finances over the Captive insurance company including forecasting, development and ongoing management of the investment plan, dividends, and inter-company loan programs
Has responsibility for the creation and maintenance of the Captive’s plan of operations (business plan); provides updates to regulatory authorities on changes to the business plan as needed
Reviews contract language as requested by Procurement and Legal; evaluates risk and provides recommended edits to decrease HCSC risks in engagements with third parties
Review and respond to insurance provisions provided in RFPs. Provide alternative language to comply with existing insurance policy terms
Facilitates management review of insurance program recommendations and oversees subsequent placements
Designs and maintains the Corporate Risk Management policy and related operations manual
Prepare and update renewal applications for various insurance policy renewals - Managed Care/ Errors & Omissions, Directors & Officers, Employment Practices, Fidelity Bond, Cyber Privacy, Fiduciary, General Liability, Auto, Property, Umbrella, and other special lines of coverage; conducts underwriting presentations to insurance markets
Gathers Data From Facilities, Legal, Managed Care Departments, etc. for Insurance Policy Renewals
Oversee the maintenance of the insurance policy databases and electronic files
Works with the company’s insurance brokers to respond to requests for certificates of insurance and claims history documents
Stay abreast on industry standards and trends in order to analyze potential risks in changing operating environments related to the Affordable Care Act, new business ventures, contracts, acquisitions, and lines of business as they relate to HCSC Operations
Update and maintain Risk Information Management System data
Conduct annual carrier exposure true ups and confirm additional premiums due
Manages the work of direct reports in Corporate Risk Management
Provide ongoing risk management support and assistance as needed
Required Job Qualifications:
- Bachelor’s Degree in Risk Management, Business Administration, Economics, Accounting, Finance or relevant degree.
- 8 years of experience in Risk Management, Claims Administration, Insurance Brokerage or Underwriting.
- Qualified Risk Manager under the Nonadmitted and Reinsurance Reform Act (NRRA).
- Expert in P&C Insurance, including appropriate federal and state legislation, reporting requirements.
- Has deep knowledge of commercial insurance programs, self-insured funding, retention structures.
- Clear and concise interpersonal, verbal, & written communication skills.
- Project Management skills to bring assignments to completion.
- PC proficiency in Word, Excel, PowerPoint.
- Ability to travel including overnight stays 10%.
PREFERRED JOB REQUIREMENTS
We offer a flexible work arrangement with 3 days in the office and 2 days working from home.
Relocation is not provided at this time.
Sponsorship is not provided at this time.
Are you being referred to one of our roles? If so, ask your connection at HCSC about our Employee Referral process!
HCSC Employment Statement:
HCSC is committed to diversity in the workplace and to providing equal opportunity and affirmative action to employees and applicants. We are an Equal Opportunity Employment / Affirmative Action employer dedicated to workforce diversity and a drug-free and smoke-free workplace. Drug screening and background investigation are required, as allowed by law. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or protected veteran status.
