The Risk Manager will be responsible for the daily administration, record-keeping and oversight of insurance programs and policies across a broad range of loss types. This includes maintenance of the relationships with third party service providers (brokers, insurers, TPAs etc.) and acting as the primary liaison with those service providers, preparing recommendations regarding the purchase of insurance policies and services, administration of claims and loss control activities, preparation of loss analyses and budgets, and ensuring compliance with insurance procedures and full utilization of loss prevention services. In addition, the Risk Manager will assist the General Counsel in providing support to the compliance functions of other divisions and departments across the College. This will include collaborating in the development, implementation and maintenance of policies, procedures and training programs designed to minimize risk and ensure campus compliance with legal and regulatory requirements as well as ongoing administration and oversight of particular compliance programs.
Primary Position Responsibilities:
Work with College leadership to identify exposures, recommend solutions and implement approved programs and to ensure proper, financially responsible insurance coverage for institutional losses.
Assist in the review and analysis of insurance programs for effectiveness of coverage, costs and losses and prepare recommendations for the purchase of appropriate levels of insurance policies and services for the College to the Vice President of Finance and Administration.
Prepare insurance bid specifications and evaluate bids, recommend or conclude insurance contracts and complete the renewal process of insurance programs. Some insurance may be arranged and purchased through The Boston Consortium Risk Management Group (TBCRMG).
Prepare insurance budgets for the Vice President of Finance and Administration.
Maintain the relationships with third party service providers (brokers, insurers, state insurance administrators, etc.) and act as the primary liaison with those service providers.
Manage the daily administration, record-keeping and oversight of insurance programs and policies across a broad range of loss types.
Maintain current exposure records (property, auto, etc.) and support campus personnel who have requests for certificates of insurance.
Manage insured and self-insured claims and loss control activities, including general liability, property, auto and employment practices liability, coordinating with the General Counsel on major claims and otherwise keeping the General Counsel informed.
Prepare loss analyses and budgets and ensure compliance with insurance procedures and full utilization of loss prevention services.
Assist human resources and environmental health & safety with managing workers’ compensation claims as may be needed.
Assist human resources and student health services with managing employee or student health insurance claims as may be needed from time to time.
Perform the duties of a system administrator of the risk management data system. This includes responsibility for accuracy of information entered, generation of loss reports to identify trends and make recommendations to mitigate risk.
Mine databases (risk management information system, insurer claim databases, loss prevention reports and industry information, etc.) and interact with insurance company loss prevention representatives to determine and evaluate loss trends and recommend loss prevention activities.
Review any insurance audits for accuracy.
COMPLIANCE AND RISK MANAGEMENT INITIATIVES AND PROGRAMS
Assist the General Counsel in providing support to the compliance functions of other divisions and departments across the College.
Stay apprised of applicable statutes and their potential impact on the College’s compliance programs
Research and report on new risks and risk management strategies as may be needed.
Collaborate on the development, implementation and maintenance of policies, procedures and training programs designed to minimize risk and ensure campus compliance with legal and regulatory requirements.
Collaborate on the implementation of contract management program, including finalizing policy and compiling database.
Assist in review of contracts, particularly insurance and indemnification provisions.
Ongoing management and oversight of particular compliance programs, such as the minors on campus and driver certification programs.
Represent the College at the TBCRMG meetings and participate in TBCRMG activities and committees.
BS/BA degree in Business, Finance, Insurance, Risk Management or related area
Three to five years full-time experience in planning or operations of risk management, property or casualty insurance programs or closely related experience
Demonstrated abilities in areas of organization, managerial and interpersonal skills
Knowledge of property and casualty insurance coverage and familiarity with insurance policies and loss prevention concepts
Knowledge of the principles and procedures for the investigation and processing of property and liability insurance claims
Experience in forecasting and analysis of risk metrics
Strong computer skills, including word processing, database and spreadsheets, with the ability to develop and maintain data tracking tools and systems
Strong oral and written communication skills, including the ability to develop and deliver presentations and the ability to present risk findings and make recommendations in a clear, concise manner
Professional certification in the field of Risk Management
Experience purchasing/managing commercial property and casualty insurance
Work experience in higher education
All employees hired after August 2, 2021 are required to upload proof of vaccination against COVID-19, subject to approved medical or religious exemptions or disability accommodations
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