As a major Silicon Valley employer, Stanford University offers an exciting opportunity for the right individual. Stanford is not just about finding your "next job," but where we hope you will discover a rewarding career, as well as life-changing experience filled with rich traditions, a deep passion for collaboration and innovation, an unparalleled respect for diversity and creative freedom, and a culture of excellence.
As one of the world's premier research institutions, Stanford devotes tremendous resources toward the betterment of humanity. Hundreds of initiatives -- in everything from medicine to engineering, the environment, peace, and national security -- create an atmosphere humming with intelligence and excitement.
Within Stanford's Office of the Chief Risk Officer, team members gain a broad enterprise perspective, support a wide variety of activities, and make meaningful contributions daily.
The position of Executive Director, Risk Management and Insurance, reports to Stanford's Chief Risk Officer and works in collaboration with stakeholders across the University to resolve complex and high-risk issues. The Risk Management function is currently comprised of eight professional staff, three of whom report directly to the Executive Director.
CORE DUTIES:
Provide strategic leadership, direction, and management for the university's risk management and insurance programs.
Set long range plans, propose and manage implementation of programs, and facilitate the establishment of policies, as needed.
Manage the insurance and self-insurance programs for property, liability, employment, aviation, fidelity, fiduciary, clinical trials, workers' compensation, and other coverage areas.
Promote and guide the application of risk management strategies for risk identification, assessment, mitigation, retention, and risk transfer.
Lead a team of multiple levels of professionals to achieve the goals and vision of the organization. Hire and retain staff, provide career coaching and development opportunities for direct reports, and oversee the performance of employees and the organization.
Work with Stanford leaders to set an appropriate risk tolerance level and mix of third-party insurance, risk transfer, and self-insured risk retention.
Develop and manage the insurance budget, internal cost allocation, and financial funding for settlement of claims.
Select and manage relationships with third-party vendors and service providers, including insurance brokers, underwriters, claims administrators, actuaries, and loss control engineers.
Coordinate with insurance companies and participate in defense strategy, settlement approval, and funding for claims resolution in collaboration with general counsel and outside attorneys.
Collaborate with stakeholders across the University to provide critical support services for the University's mission of teaching and research.
Develop and implement risk management policies, and consult with and educate business units to identify, assess, minimize, and mitigate potential risks.
Provide consultation, review, and approval in contract negotiations in cooperation with Sponsored Research, Industrial Contracts Office, Office of Technology Licensing, Procurement, Office of General Counsel, schools, and business units on matters of insurance, indemnification, limitation of liability, and risk tolerance.
Coordinate and consult with stakeholders across the institution, including in matters related to research and overseas programs.
Advise and influence executive management and university leaders on significant issues and risks with university-wide impact.
Collaborate on the identification and assessment of strategic, operational, and emerging risks confronting the University in the context of enterprise risk management.
Provide periodic reports to management and the University Board of Trustees Audit, Compliance, and Risk Committee on the effectiveness of risk management and insurance programs.
Support Stanford Medicine in addressing risk exposures for Stanford's School of Medicine and its pro bono clinics.
Serve as a director for the Stanford Medicine captive insurance company and serve on other advisory boards, as needed.
MINIMUM REQUIREMENTS:
Education and Experience:
Bachelor's degree and ten years of relevant experience in administrative and financial management, or combination of education and relevant experience.
Significant experience directing a risk management and insurance function for a large enterprise with diverse operations and risk exposures or in a closely related field such as insurance brokerage, underwriting, or legal.
Experience analyzing large and complex business contracts and arrangements.
Experience working in a highly decentralized environment with complex roles and responsibilities
Preference (but not requirement) for candidates with:
Chartered Property and Casualty Underwriter (CPCU), Associate in Risk Management (ARM), or JD
Experience working with academic faculty and/or medical professionals
Familiarity with research-related risks, including clinical trials -- likely derived from experience working with a major research institution (higher education and/or health care organization) or life sciences organization
Knowledge, Skills, and Abilities:
Demonstrated strategic leadership, planning, and change management skills.
Excellent oral and written communication skills, including executive-level communications.
Advanced financial expertise in budget planning, financial forecasting, and financial analyses.
Exceptional interpersonal, negotiation, and political acumen skills. Able to influence people, solve problems, trouble shoot, think creatively, and resolve conflicts.
Expert analytical and problem-solving skills.
Ability to work in a decentralized environment and navigate ambiguity.
Subject matter expertise related to insurance and risk management. Knowledge of risk management strategies, including risk prevention, risk retention, and self-insurance, as well as risk transfer through insurance and/or contractual arrangements.
Strong knowledge of industry standards, trends, and regulatory requirements.
WORKING CONDITIONS:
Remote work arrangements may be considered.
The job duties listed are typical examples of work performed by positions in this job classification and are not designed to contain or be interpreted as a comprehensive inventory of all duties, tasks, and responsibilities. Specific duties and responsibilities may vary depending on department or program needs without changing the general nature and scope of the job or level of responsibility. Employees may also perform other duties as assigned.
Consistent with its obligations under the law, the University will provide reasonable accommodation to any employee with a disability who requires accommodation to perform the essential functions of the job.
Stanford is an equal employment opportunity and affirmative action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, protected veteran status, or any other characteristic protected by law.
*The job duties listed are typical examples of work performed by positions in this job classification and are not designed to contain or be interpreted as a comprehensive inventory of all duties, tasks, and responsibilities. Specific duties and responsibilities may vary depending on department or program needs without changing the general nature and scope of the job or level of responsibility. Employees may also perform other duties as assigned.
*Consistent with its obligations under law, the University will provide reasonable accommodation to any employee with a disability who requires accommodation to perform the essential functions of his or her job.
*Stanford is an equal employment opportunity and affirmative action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, protected veteran status, or any other characteristic protected by law.
Why work at Stanford?Stanford University has changed the world, over and over again.We are one of Silicon Valley's largest employers - and also one of the most unique. Our mission is to educate future leaders and promote interdisciplinary, world-class research and teaching. This passion makes Stanford an intensely creative, rewarding, and challenging place to work. At the same time, our traditions of respect and collaboration sustain a humane, supportive environment in which to pursue your life and your career.At Stanford you'll work with bright, diverse, dedicated people. You'll find encouragement to learn and grow. You'll enjoy excellent benefits and an outstanding environment. How will it change you?
