Director of Risk Management and Insurance

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.

Required Qualifications

• 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

Preferred Qualifications

• 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.

Working at the University

At the University of Minnesota, you'll find a flexible work environment and supportive colleagues who are interested in lifelong learning. We prioritize work-life balance, allowing you to invest in the future of your career and in your life outside of work.

The University also offers a comprehensive benefits package that includes:

• Competitive wages, paid holidays, and generous time off
• Continuous learning opportunities through professional training and degree-seeking programs supported by the Regents Tuition Benefit Program
• Low-cost medical, dental, and pharmacy plans
• Healthcare and dependent care flexible spending accounts
• University HSA contributions
• Disability and employer-paid life insurance
• Employee wellbeing program
• Excellent retirement plans with employer contribution
• Public Service Loan Forgiveness (PSLF) opportunity
• Financial counseling services
• Employee Assistance Program with eight sessions of counseling at no cost
• Employee Transit Pass with free or reduced rates in the Twin Cities metro area

Please visit the Office of Human Resources website for more information regarding benefits.

Applications must be submitted online. To be considered for this position, please click the Apply button and follow the instructions. You will be given the opportunity to complete an online application for the position and attach a cover letter and resume.

A resume is required for consideration. A cover letter is preferred.

Additional documents may be attached after application by accessing your "My Job Applications" page and uploading documents in the "My Cover Letters and Attachments" section.

To request an accommodation during the application process, please e-mail employ@umn.edu or call (612) 624-8647.

The University recognizes and values the importance of diversity and inclusion in enriching the employment experience of its employees and in supporting the academic mission. The University is committed to attracting and retaining employees with varying identities and backgrounds.

The University of Minnesota provides equal access to and opportunity in its programs, facilities, and employment without regard to race, color, creed, religion, national origin, gender, age, marital status, disability, public assistance status, veteran status, sexual orientation, gender identity, or gender expression. To learn more about diversity at the U: http://diversity.umn.edu

Any offer of employment is contingent upon the successful completion of a background check. Our presumption is that prospective employees are eligible to work here. Criminal convictions do not automatically disqualify finalists from employment.

The University of Minnesota, Twin Cities (UMTC)

The University of Minnesota, Twin Cities (UMTC), is among the largest public research universities in the country, offering undergraduate, graduate, and professional students a multitude of opportunities for study and research. Located at the heart of one of the nation's most vibrant, diverse metropolitan communities, students on the campuses in Minneapolis and St. Paul benefit from extensive partnerships with world-renowned health centers, international corporations, government agencies, and arts, nonprofit, and public service organizations.

At the University of Minnesota, we are proud to be recognized by the Star Tribune as a Top Workplace for 2021, as well as by Forbes as Best Employers for Women and one of America's Best Employers (2015, 2018, 2019, 2023), Best Employer for Diversity (2019, 2020), Best Employer for New Grads (2018, 2019), and Best Employer by State (2019, 2022).