At HCSC, we consider our employees the cornerstone of our business and the foundation to our success. We enable employees to craft their career with curated development plans that set their learning path to a rewarding and fulfilling career.

Come join us and be part of a purpose driven company who is  invested in your future!

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

• Advanced degree.
• ARM, CRM, or CPCU designation.
• Insurance producer license.
• Vendor management experience; developing relationships with insurance brokers, Property & Casualty underwriting community, and other third-party administrators, and other risk-related service providers.
• Proficiency in RMIS Risk Management System, insurance policy databases and electronic files.
• Experience designing, negotiating and approving Property and Casualty Insurance for the Enterprise.
• Subject Matter Expert with securing, preparing & updating 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
• Experience managing day to day operations of the Company’s captive insurance company, including monthly claims reporting, annual regulatory filings and audit.
• Ensuring an efficient risk financing process minimizing insurance premium increases. 
• Ensuring effective management of claims process including capitalizing on opportunities for HCSC to maximize claim recoveries from insurance carriers.

• Effectively manage a small team of direct reports.

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.

03/15/2024

Address:

1200 E. Warrenville Road

Job Family Group:

Customer Shared Services

Provides day-to-day delivery of critical processes, administration, and servicing activities in in connection with retail and commercial electronic deposits and payments while overseeing a staff of 18 and managing a three shift environment. Supports the execution of payments, transactions, service requests, administrative activities and processes and fulfillment of business, stakeholder and/or external customer inquiries/requests within relevant service level agreements. Collaborates with stakeholders to promote efficient and effective processes and workflow, establish positive working relationships across the organization and to achieve business results and deliver the intended customer and employee experience. Deposit and Payments operations includes (but are not limited to) specialized operations processes and activities related to ACH and EDI electronic transaction processing.

• Fosters a culture aligned to BMO purpose, values and strategy and role models BMO values and behaviours in all that they do.
• Ensures alignment between values and behaviour that fosters diversity and inclusion.
• Regularly connects work to BMO's purpose, sets inspirational goals, defines clear expected outcomes, and ensures clear accountability for follow through.
• Builds interdependent teams that collaborate across functional and operating groups and shifts to create the highest value for all stakeholders.
• Attracts, retains, and enables the career development of top talent.
• Improves team performance, recognizes and rewards performance, coaches employees, supports their development, and manages poor performance.
• Acts as a trusted advisor to assigned business/group.
• Recommends and implements solutions based on analysis of issues and implications for the business.
• Identifies emerging issues and trends to inform decision-making.
• Supports the execution of strategic initiatives in collaboration with internal and external stakeholders.
• Helps determine business priorities and best sequence for execution of business/group strategy.
• Communicates with internal business partners and external customers to respond to standard and non-standard inquiries.
• Ensures alignment between stakeholders.
• Integrates information from multiple sources to enable more efficient processes, enhanced analysis and/or streamlined reporting.
• Monitors and tracks performance, and addresses any issues.
• Builds change management plans of varying scope and type; leads or participates in a variety of change management activities including readiness assessments, planning, stakeholder management, execution, evaluation and sustainment of initiatives.
• Leads or participates in defining the communication plan designed to positively influence or change behaviour; develops tailored messaging; and identifies appropriate distribution channels.
• Develops and manages a business/group program.
• Reviews the program for effectiveness, considers industry trends and recommends enhancements; makes changes as required.
• Integrates information from multiple sources to enable more efficient processes, enhanced analysis and/or streamlined reporting.
• Fulfills routine and frequently non-routine transactions, internal business partner and/or external customer inquiries/requests, and/or audit/reconciliation activities.
• Analyzes and resolve complex issues efficiently and effectively in accordance with Bank and industry standards. Act as primary back-up to team members and as back-up to the manager.
• Evaluates circumstances requiring exceptions and engages senior management for resolution where required.
• Performs the coordination of work flow and activities of the team, including assigning work, periodically reviewing output, providing input to employee performance reviews, quality control, training, team coaching and guidance, operations research and problem resolution.
• May function as a problem-solving resource for more junior staff, referring non-routine issues to more senior team members and/or manager.
• May perform quality control and training.
• Organizes work information to ensure accuracy and completeness.
• Participates/leads process/system continuous improvement initiatives.
• Identifies business needs, designs/develops tools and training programs; may include delivery of training to audiences.
• May acts as the day to day contact for vendors; supports the implementation, maintenance, and sustainment of vendor solutions.
• Provides accurate and timely processing of service requests, transactions, activities, etc. within relevant service level agreements and in accordance with established policies, processes and procedures.
• Provides accurate, consistent, knowledgeable responses to stakeholder questions and requests.
• Follows documented policies and procedures to execute day to day transactions, activities, processes and ensures all Service Level Agreements(SLAs) are met.
• Checks and reconciles information and documentation to ensure accuracy and completeness.
• Identifies and resolves discrepancies in accordance with standard procedures. Escalates issues, where necessary, as per guidelines.
• Communicates and collaborates with internal and external stakeholders in order to deliver on business objectives.
• Collaborates in development/implementation of new processes/systems and changes/improvements to existing systems and processes.
• Develops and maintains an understanding of the regulatory requirements and risks inherent in the operations and ensures appropriate actions are taken and operational integrity is maintained.
• Focus is primarily on business/group within BMO; may have broader, enterprise-wide focus.
• Provides specialized consulting, analytical and technical support.
• Exercises judgment to identify, diagnose, and solve problems within given rules.
• Works independently and regularly handles non-routine situations.
• Broader work or accountabilities may be assigned as needed.

  Qualifications:

• Typically between 5 - 7 years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.
• Knowledge and experience using relevant systems and technology – In-depth.
• Knowledge and understanding of the business unit’s key products and services, processes and controls – In-depth.
• Knowledge of the risk and regulatory requirements of the business – In-depth.
• Prioritization skills – Good.
• PC skills (MS Word, Excel, PowerPoint) – In-depth.
• Ability to multi-task in a fast-paced environment.
• Deep knowledge and technical proficiency gained through extensive education and business experience.
• Verbal & written communication skills - In-depth.
• Collaboration & team skills - In-depth.
• Analytical and problem solving skills - In-depth.
• Influence skills - In-depth.
• Data driven decision making - In-depth.

Compensation and Benefits:

$72,500.00 - $134,500.00

Pay Type:

Salaried

The above represents BMO Financial Group’s pay range and type.

Salaries will vary based on factors such as location, skills, experience, education, and qualifications for the role, and may include a commission structure. Salaries for part-time roles will be pro-rated based on number of hours regularly worked. For commission roles, the salary listed above represents BMO Financial Group’s expected target for the first year in this position.

BMO Financial Group’s total compensation package will vary based on the pay type of the position and may include performance-based incentives, discretionary bonuses, as well as other perks and rewards. BMO also offers health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans. To view more details of our benefits, please visit: https://jobs.bmo.com/global/en/Total-Rewards

We’re here to help

At BMO we are driven by a shared Purpose: Boldly Grow the Good in business and life. It calls on us to create lasting, positive change for our customers, our communities and our people. By working together, innovating and pushing boundaries, we transform lives and businesses, and power economic growth around the world.

As a member of the BMO team you are valued, respected and heard, and you have more ways to grow and make an impact.  We strive to help you make an impact from day one – for yourself and our customers.  We’ll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, we’ll help you gain valuable experience, and broaden your skillset.

To find out more visit us at http://jobs.bmo.com/us/en

BMO is committed to an inclusive, equitable and accessible workplace. By learning from each other’s differences, we gain strength through our people and our perspectives. BMO is an equal opportunity/affirmative action employer. All qualified applicants will receive consideration for employment without regard to sex, gender identity, sexual orientation, race, color, religion, national origin, disability, protected Veteran status, age, or any other characteristic protected by law. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.

Note to Recruiters: BMO does not accept unsolicited resumes from any source other than directly from a candidate. Any unsolicited resumes sent to BMO, directly or indirectly, will be considered BMO property. BMO will not pay a fee for any placement resulting from the receipt of an unsolicited resume. A recruiting agency must first have a valid, written and fully executed agency agreement contract for service to submit resumes.

About Working at Commerce 

Building a career here is more than just steps on a ladder. It’s about helping people find financial safety and success, helping businesses thrive, and making sure people and their money are taken care of. And our commitment doesn’t stop there. Our culture is about our people, the ones in our communities and the ones that work with us.  

Here, you’ll find opportunities to grow and learn, to connect with others, and build relationships with the people around you. You’ll have the space and resources to grow into the best version of yourself. Because our number one investment is you.

Creating an award-winning culture doesn't come easy. And after more than 155 years, we know Commerce Bank is only at its best when our people are. If this sounds interesting to you, keep reading and let’s talk. 

Compensation Range

Annual Salary: $69,500.00 - $180,500.00 (Amount based on relevant experience, skills, and competencies.)

This position involves both the comprehensive management of existing commercial relationships as well as soliciting new business opportunities with assigned customers and targeted prospects. Although it can vary by market, targeted companies generally include those with annual sales of up to $150MM.

Essential Functions

• Participate in outreach activities with assigned customers and target prospects with the objective to acquire new business

• Serve as the primary advisor for an assigned portfolio of diverse and complex commercial relationships and ensure a high level of customer satisfaction and retention

• Coordinate with product partners to cross-sell a full range of products and services

• Critically review and analyze portfolio to reduce risk and enhance profitability

• Facilitate credit requests, including loan structuring, negotiating/pricing, collateral, ensure adequate loan documentation, and analyze industry/credit risk

• Facilitate the resolution of customer problems and engage product experts as needed

• Participate in community and business functions/groups to ensure a positive image for the Bank and establish referral contacts within the marketplace

• Ensure compliance with all Bank policies, procedures, regulations, and laws

• Perform other duties as assigned

Knowledge, Skills & Abilities Required

• Basic knowledge of full range of commercial products, credit policies, procedures and terminology

• Ability to maintain a valid driver’s license and meet Commerce Bank’s driving record criteria; ongoing employment may be contingent upon meeting all driving requirements

• Basic strategic, analytical, problem-solving skills and credit analysis skills

• Basic persuasive and negotiation skills with strong sales skills

• Some independent decision-making skills, but requires regular management oversight

• Motivated and organized self-starter with strong attention to detail and the ability to manage multiple priorities

• Inquisitive, agile and strong team player with excellent written, verbal and interpersonal communication skills

• Ability to remain adaptable and resilient to all situations with an optimistic outlook and cast a positive shadow that is aligned with our culture and Core Values

• Intermediate level proficiency with Microsoft Word, Excel and Outlook

Education & Experience

• Bachelor’s degree or equivalent combination of education and experience required

• 1+ years of commercial banking experience required

For this position, federal regulations require Commerce Bank to prepare an investigatory consumer report which will disclose credit history. If you express interest in and are considered for this position, you will be asked to authorize that report.

For this position, Commerce Bank will review your motor vehicle driving record. If you express interest in and are considered for this position, you’ll be asked to authorize our review of that record.

**Level of role is determined by knowledge, experience, skills, abilities, and education

***For individuals applying, assigned and/or hired to work in areas with pay transparency requirements, Commerce is required by law to include a reasonable estimate of the compensation range for this role. This compensation range is for the Business Banking Relationship Manager I, II, III, and Senior job and contemplates a wide range of factors that are considered in determining most appropriate job level and making compensation decisions, including but not limited to location, skill sets, education, relevant experience and training, licensure and certifications, and other business and organizational needs. The disclosed range estimate has not been adjusted for any applicable differentials (geographic, bilingual, or shift) that could be associated with the position or where it is filled. At Commerce, it is not typical for an individual to be hired at or near the top of the range for their role, and compensation decisions are dependent on the facts and circumstances of each situation. A reasonable estimate of the current base salary range is $69,500 to $180,500. This position will be eligible for additional compensation through performance-based incentive plan(s) that will correspond to meeting performance goals. The candidate selected for this position may be eligible for the following employment benefits: employer sponsored health, dental, and vision insurance, 401(k), life insurance, paid vacation, and paid personal time. In addition, we offer career development, education assistance, and voluntary supplemental benefits.  Click here to learn more.

#LI-Remote

Location: Address TBD, Chicago, Illinois 60601

Time Type:

Full time