United States onlyWorking/Functional Title
Executive Director, Risk Management and Insurance
Position Summary
PRIMARY FUNCTION OF POSITION
The Executive Director of Risk Management and Insurance leads the risk management and insurance functions for the University. Reporting to the Senior Vice President/CFO/Treasurer, the position is responsible for developing and implementing strategies to reduce risks associated with university operations and activities, providing continuous support to stakeholders in the identification and selection of techniques to manage risks, managing all property and casualty insurance programs, collaborating with the Office of the General Counsel in litigated claim matters, managing the administration of self-insurance structures including a captive insurance company, representing the University to external groups including underwriters, risk management support organizations and community members.
This position is “remote-friendly,” with the expectation of an on-campus presence for 2-3 days per week. This is typically referred to as “Hybrid,” with the flexibility of in-office and remote work as mutually agreed upon with the supervisor.
DUTIES AND RESPONSIBILITIES
- Provide risk management consultative services to campus stakeholders on a broad spectrum of risks; make recommendations to reduce exposures to loss.
- Develop major goals and objectives for the unit and build strong working relationships with leadership and staff from major administrative units.
- Establish policies and procedures to manage risks and control losses.
- Plan and supervise the work of support staff to effectively identify and analyze risks inherent within the operations of the University.
- Create and manage department budget; regularly monitor all claim payments and associated costs.
- Analyze loss experience across various exposure areas to determine optimal levels of purchased insurance limits, self-insured retentions, and deductibles.
- Prepare proposals and manage externally contracted risk management services including insurance brokerage, actuarial, claims administration and information technology.
- Negotiate on behalf of the University all commercial insurance programs (excluding employee benefits) such as general and professional liability, directors and officers, property, workers compensation, international and athletic accident.
- Administer self-insurance funds to ensure appropriate payments and maintain adequacy of reserves to reflect claim trends and exposure levels.
- Review and update methodologies for insurance premium and expense allocations to auxiliary units in conjunction with general fund costs.
- Assist other campus unit risk management staff with issues unique to their operations such as health care, recreational sports, and extension services.
- Make recommendations on indemnification and insurance provisions in university contracts and agreements with third parties; provide interpretation of technical insurance policy language.
- Manage claims involving University-owned tangible property; advocate for the University to ensure maximum recoveries from insurers.
- Oversee liability claims and work collaboratively with the Office of the General Counsel on those involving litigation and settlements.
- Coordinate the damage assessment function within the University emergency response system.
- Serve as the primary contact for all matters pertaining to the operation of the university’s captive insurance company.
Equal Employment Opportunity Statement
All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, citizenship, age, disability or protected veteran status.
Required Degree
Bachelors -Business, Risk Management, Law, Public Administration
Desired Degree
Masters -Business, Risk Management, Law, Public Administration
Minimum Requirements
- Bachelors degree in business, risk management, law, or public administration
- Extensive knowledge of the property and casualty insurance industry
- Ten or more years of progressively responsible management level experience working with large entity insurance programs
Desired Qualifications
- Advanced degree in business, risk management, law, or public administration
- Experience working in higher education or a similarly complex organization
- Professional designation of Chartered Property Casualty Underwriter (CPCU) and/or Associate in Risk Management (ARM)
- Ability to analyze complex proposals, regulations and contracts, maintain efficient and effective risk management control systems and procedures
- Strong verbal and written communication skills to facilitate work across disciplines at the University
Required Application Materials
- Resume/CV
- Cover Letter
- Name and contact information for five professional references
Review of Applications Begins On
07/01/2024
Remote Work Statement
MSU strives to provide a flexible work environment and this position has been designated as remote-friendly. Remote-friendly means some or all of the duties can be performed remotely as mutually agreed upon.
Website
https://rmi.msu.edu/
Department Statement
MSU Finance is steadfast in our efforts to uphold fiscal integrity, ensuring MSU’s role as a responsible steward of institutional resources and supporting the University’s ability to serve as a top research university in the world.
MSU Statement
Michigan State University has been advancing the common good with uncommon will for more than 160 years. One of the top research universities in the world, MSU pushes the boundaries of discovery and forges enduring partnerships to solve the most pressing global challenges while providing life-changing opportunities to a diverse and inclusive academic community through more than 200 programs of study in 17 degree-granting colleges.
