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Head of Risk Management Operations
2 months ago
Company Overview
Educational & Institutional Insurance Administrators, Inc. (EIIA) is a consortium driven by its members, comprising private, faith-based colleges, universities, and seminaries that offer innovative solutions in insurance and risk management. Established over fifty years ago, EIIA emerged in the 1960s when several historically black colleges and universities affiliated with the United Methodist Church faced challenges in securing property and casualty insurance from traditional providers. The church facilitated a collective purchasing approach, which enabled these institutions to obtain necessary coverage. EIIA was officially incorporated as a not-for-profit entity in 1976, with the mission of providing group purchasing and administration of insurance programs tailored for higher education institutions.
The success of group purchasing for property and casualty insurance led to the expansion of services to include employee health and welfare benefits, long-term disability, life insurance, accidental death and dismemberment, and student health and accident coverage. Additionally, risk management services were introduced to assist these institutions in effectively managing and mitigating risks.
Located in downtown Chicago, EIIA operates in a hybrid work environment. Our team of insurance and risk management experts serves over 145 higher education institutions across 39 states. EIIA also manages two Vermont-domiciled captive insurance companies and two grantor trusts.
Currently, EIIA is in search of a Director to lead our Risk Management Team.
Position Overview
Key Responsibilities:
The Director of Risk Management serves as the primary liaison for designated member institutions. This role requires the cultivation of effective relationships with members at all organizational levels, a comprehensive understanding of the products and services offered by EIIA, and the ability to operate in a dual capacity as both a risk manager and customer service representative.
The Director will engage in consultative practices to identify risks associated with higher education, explore opportunities to enhance the member's risk management initiatives, devise effective risk management strategies for member institutions, conduct on-site risk assessments and training, document service activities, and support EIIA's internal teams in resource development and program implementation for all member institutions.
Core Responsibilities:
Risk Management:
- Design and implement tailored services for each assigned member institution, focusing on loss prevention and the enhancement of their risk management programs based on current needs, emerging risks, EIIA standards, and available resources.
- Provide a comprehensive range of loss control, insurance, and risk management services, including risk assessments, loss cause analysis, contract reviews, regulatory compliance evaluations, educational workshops, OSHA guidelines, and life safety standards.
- Conduct specific exposure analyses relevant to higher education, perform data evaluations, and develop appropriate risk mitigation strategies.
- Collaborate with institutions to identify significant risk management challenges, conducting evaluations and formulating strategies to address these issues.
- Advocate for members' risk management initiatives when interacting with internal departments, vendors, and external service providers, presenting information that underscores the necessity of adopting risk management practices.
- Conduct various campus visits, including orientation, loss-focused assessments, new member introductions, and risk management evaluations.
- Review contracts, agreements, and letters of understanding from a risk management perspective, advising institutions on insurance requirements, indemnification, subrogation, hold harmless clauses, and risk awareness, while identifying loss prevention recommendations.
- Oversee and coordinate externally sourced loss prevention and safety service activities to ensure timely and quality service delivery to EIIA members.
- Contribute to the EIIA Risk Management Team's efforts by developing resources for website postings and member reference materials.
- Monitor and disseminate best practices, standards, or trends in risk management/safety/loss prevention that may impact the higher education sector.
Required Skills and Abilities:
- Demonstrated professionalism, attention to quality, accuracy, and a strong customer service orientation.
- Excellent oral and written communication skills for effective interaction with members and EIIA teams, capable of articulating coverage and risk management best practices, and developing manuals, policies, procedures, and reports.
- Ability to create and deliver high-level informative presentations to diverse audiences.
- Accountability for results related to assigned institutions and projects.
- Proactive, adaptable, and flexible to meet the demands of the Risk Management Team.
- Strong analytical problem-solving skills to derive correct conclusions from information, evaluate alternatives, and select optimal solutions.
- Meticulous attention to detail to ensure the completeness and accuracy of service activities, internal projects, and special assignments.
- Interpersonal and team-building skills to engage openly and candidly with members and colleagues.
- Strong organizational and planning abilities to effectively manage and prioritize time, activities, projects, and resources.
Supervisory Responsibilities:
This position does not entail direct supervisory responsibilities but involves leading and collaborating with the Risk Management team to implement the service model. Functional supervision may include task assignment, project coordination, and issue resolution.
Qualifications:
To excel in this role, candidates must possess the following:
- Knowledge of fundamental risk management and loss control practices.
- A comprehensive understanding of various insurance policies, coverages, and insurance operations.
- Basic knowledge of property, liability, and workers' compensation claims management processes.
- Proficiency in Microsoft Office Suite: Word, Excel, PowerPoint, and Dynamics 365.
Preferred Qualifications: Professional designations such as Associate in Risk Management (ARM), Certified Safety Professional (CSP), Chartered Property Casualty Underwriter (CPCU), or other relevant insurance and/or loss prevention certifications are highly desirable.
Education and Experience:
A bachelor's degree or equivalent is required; an advanced degree is a plus. A minimum of five years of experience in risk management, safety, loss control, or a related insurance field is preferred. Experience in advisory, consultative, or account management roles is advantageous.
Essential Skill Sets:
This position demands a strong work ethic and customer service skills, alongside robust analytical capabilities. Candidates should exhibit self-motivation, the ability to work independently and collaboratively with diverse groups, strong interpersonal skills, and excellent written and verbal communication abilities. Organizational and analytical skills, adaptability to workload demands, and the capacity to complete projects with minimal supervision are crucial. Attention to detail and the ability to develop and deliver presentations to varied audiences are also essential.
Travel Requirements:
This role necessitates travel as required, including weekends. Member institutions are located throughout the United States, including rural areas. Travel is estimated to comprise approximately 30% of total time for attending meetings, industry conferences, governance meetings, training, and professional development workshops.
Work Environment:
The position operates within a hybrid model. The work environment characteristics described herein are representative of those encountered while performing essential job functions. Many tasks are conducted remotely, with work executed from home offices, hotels, conference rooms, campus locations, or other remote settings as necessary. Occasionally, onsite presence in Chicago may be required for team or corporate events.
Additional Duties and Accommodations:
The above description is intended to outline the general content and requirements for this position. It is not to be construed as an exhaustive statement of duties, responsibilities, or physical requirements. Management retains the right to assign or reassign duties and responsibilities to this position at any time. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.
