Senior Director, Global Risk

1 week ago

Rosemont, Illinois, United States Regal Rexnord Full time
Nature and Scope of Role:

As the Senior Director, Global Risk and Property Management you will be responsible for the development and implementation of comprehensive global risk and property management programs to effectively protect Regal Rexnord from potential and foreseeable risks while managing the company's insured property assets.

Reporting to the Executive Vice President, General Counsel & Corporate Secretary while leading a team of three, you will build on and continue to execute a risk and property management strategy that not only safeguards Regal Rexnord's assets but also enables growth.

This role is for a high performing leader who will serve as a risk management subject matter expert in a global, industrial manufacturing setting to support the design and implementation of sound risk management practices and oversee the real estate and facilities function of the company. Core functions include continuously identifying opportunities for enhancement in insurance policies, claim management, contracting processes and other key elements of risk management, while overseeing the company's real estate and facilities function and working collaboratively with various departments to grow and protect Regal Rexnord's business.

Specific Responsibilities Include:

Policies
  • Lead strategic risk management planning, including by developing an annual risk management strategic business plan that will identify short-term and long-term objectives and measures for the function.
  • Lead the annual renewal placement and management of the overall insurance portfolio including property, casualty, cybersecurity, workers' compensation, D&O, and Fiduciary & Fidelity policies and Umbrella policies.
  • Monitor and direct services rendered by insurance brokers and other external service providers; work with insurance brokers to identify cost savings opportunities, solicit and analyze quotes, negotiate insurance placements, and present the company to prospective insurers.
  • Prepare insurance applications and underwriting submissions, and lead insurance broker/underwriter roadshows and other meetings and presentations.
  • Coordinate with key stakeholders to ensure timely placement of policies, payment and COI delivery.
  • Review uninsured risks to determine if risk transfer is cost effective based on Regal Rexnord's risk appetite and insurance market conditions.
  • Routinely conduct cost/benefit analyses of insurance retention and deductible levels.
  • Remain abreast of emerging trends, best practices and new risk management products that may be appropriate for various segments of the business.
  • Manage the operations of the Risk Department, including the collections and analysis of all underwriting information, compilation of complete and accurate policy documentation, premium allocations, and premium audits.
  • Develop annual insurance and risk management budgets and annual cost allocation for business units; determine estimate of annual premium for budget year by policy; allocate budgeted costs among business segments, as appropriate.
Claim Management and Prevention
  • Identify and measure Regal Rexnord's potential exposures to loss, assess the ability of the existing risk management program to effectively respond to these exposures and continuously improve the company's processes and programs.
  • Design and deploy standardized system of claim reporting, recording and tracking.
  • Analyze claims data for trends, with input from key stakeholders, conduct quarterly claim review meetings, and make recommendations for improvement.
  • Assure timely investigation of claims and oversees coordination between insurance companies, attorneys and business partners.
  • Monitor and direct claims services provided by third parties.
  • Prepare requests for settlement authority for senior management approval.
  • Report monthly changes in value of assumed risk (deductibles, retentions, etc.) and analysis of insurance reserves required to comply with actuary estimates to each business unit.
  • Partner with team and cross-functionally to continuously improve safety and workers' compensation programs to help reduce claims frequency, any lost workdays and claim severity as well as return to work programs, preventative training and workplace safety compliance.
  • Leveraging team, oversee insurance company loss control inspections.
  • Provide loss analysis and promote loss prevention.
  • Provide day-to-day operational management of the core technology platform and data operations around claim management systems.
  • Improve the ability to provide support and innovation in data analytics and business intelligence around claims data.
Business Enablement
  • Work closely with legal department to review and evaluate contracts, leases, loans, and other legal documents to optimize terms and assess risk management compliance and potential issues.
  • Coordinate the use of external risk management resources on special projects.
Mergers, Acquisitions and Divestitures
  • Conduct risk and other analyses in due diligence process for potential M&A and divestitures.
  • Support integration efforts to ensure newly acquired businesses are appropriately onboarded; support any continuing obligations relating to risk management following divestitures.
Enterprise Risk Management
  • Partner cross-functionally in annual, multi-disciplinary enterprise risk management process, overseeing material risk aggregation and work with business leaders on both risk response and risk rating processes.
Leadership & Talent Management
  • Provide coaching, training and leadership to risk and property management team to support career growth and continue to build successful partnerships with the business, deliver exceptional and thoughtful service to all stakeholders, and remain a valued and respected partner throughout the enterprise.
  • Create a cohesive team culture that supports sharing of knowledge and resources.
  • Emphasize accountability and ownership. Establish standards of performance and monitor these through informal and formal performance reviews for team members and vendors.
Property Management, Protection and Administration
  • Oversee Senior Manager, Real Estate in setting strategy for Regal Rexnord's global real estate and facilities function and supporting enterprise objectives while delivering results.
  • Oversee Manager II, Property Risk to ensure the effective delivery of property protection engineering and consulting services and strategies to the company's businesses and sites.
  • Build and maintain strong relationships with business team members, site-specific facility management personnel, external engineering and other consultants to ensure a highly efficient and effective property protection review process.
  • Direct the completion or resolution of all outstanding property protection recommendations as well as any recommendations pertaining to special status facilities within the company.
Other
  • Create internal controls, procedures, and mechanisms for monitoring and assessing compliance and risk.
  • Advocate organization-wide efforts to reduce risk, minimize business disruption, protect key assets and engage stakeholders in risk management activities.
  • Ensure compliance with laws and regulations and ensures policies and guidelines are being followed.
Required Education / Experience / Skills
  • Bachelor's degree in risk management, business administration, or related field required
  • ARM, CPCU or other certification preferred.
  • 10+ years of experience in the risk management function, with more than 5 years in management / leadership role.
  • Risk management experience in industrial manufacturing highly preferred.
  • Experience working with law professionals and litigation processes.
  • Experience overseeing and managing workers' compensation claims.
  • Strong knowledge of risk management, commercial property and casualty insurance, claims, health and safety, business continuity, real estate/property management, and environmental issues.
  • An exceptional understanding of underwriting, claims and risk assessment principles, and insurance company management processes, issues and requirements.
  • Proficiency in selecting and managing risk management brokers and carriers, negotiating policies, and conducting contract reviews.
  • Excellent organizational, analytical and critical thinking skills with track record of successfully incorporating risk management trends into business strategy.
  • Demonstrated success in hands-on, independent and accountable management style managing, developing, and leading high-performing teams.
  • Keen understanding of budgets and business planning.
  • Proven track record of eliciting sustained high productivity levels and positive morale from staff.
  • Ability to thrive in a fast paced, results oriented, and collaborative work culture.
  • Demonstrated ability to build strong relationships and teams, to develop and implement innovative strategies and to effect change across a large and diverse organization.
  • Strong written, verbal and presentation skills with ability to lead and interact with all levels of management.
  • Strong leadership, negotiating and influencing skills.
  • Experience working within a risk management information system.
  • Travel: Ability to Travel 15%
  • Location: Rosemont, IL or Milwaukee, WI
  • This role reports directly to the EVP, General Counsel & Corporate Secretary
Benefits
  • Medical, Dental, Vision and Prescription Drug Coverage
  • Spending accounts (HSA, Health Care FSA and Dependent Care FSA)
  • Paid Time Off and Holidays
  • 401k Retirement Plan with Matching Employer Contributions
  • Life and Accidental Death & Dismemberment (AD&D) Insurance
  • Paid Leaves
  • Tuition Assistance
About Regal Rexnord

Regal Rexnord is a $6.5B publicly held global industrial manufacturer with 30,000 associates around the world who help create a better tomorrow by providing sustainable solutions that power, transmit and control motion. The Company's electric motors and air moving subsystems provide the power to create motion. A portfolio of highly engineered power transmission components and subsystems efficiently transmits motion to power industrial applications. The Company's automation offering, comprised of controllers, drives, precision motors, and actuators, controls motion in applications ranging from factory automation to precision tools used in surgical applications.

The Company's end markets benefit from meaningful secular demand tailwinds, and include factory automation, food & beverage, aerospace, medical, data center, warehouse, alternative energy, residential and commercial buildings, general industrial, construction, metals and mining, and agriculture.

Regal Rexnord is comprised of three operating segments: Industrial Powertrain Solutions, Power Efficiency Solutions, and Automation & Motion Control. Regal Rexnord has offices and manufacturing, sales and service facilities worldwide. For more information, including a copy of our Sustainability Report, visit

Equal Employment Opportunity Statement

Regal Rexnord is an Equal Opportunity and Affirmative Action Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex/gender, sexual orientation, gender identity, age, ancestry, national origin, marital status, citizenship status (unless required by the applicable law or government contract), disability or protected veteran status or any other status or characteristic protected by law. Regal Rexnord is committed to a diverse and inclusive workforce. We are committed to building a team that represents diverse and inclusive backgrounds, perspectives, and skills. If you'd like to view a copy of the company's affirmative action plan or policy statement, please email If you have a disability and you believe you need a reasonable accommodation in order to search for a job opening or to submit an online application, please e-mail

Equal Employment Opportunity Posters

Notification to Agencies: Please note that Regal Rexnord Corporation and its affiliates and subsidiaries ("Regal Rexnord") do not accept unsolicited resumes or calls from third-party recruiters or employment agencies. In the absence of a signed Master Service Agreement or similar contract and approval from HR to submit resumes for a specific requisition, Regal Rexnord will not consider or approve payment to any third-parties for hires made.

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