Head of Risk Management

1 week ago

Chicago, Illinois, United States Educational and Institutional Insurance Administrators (EIIA) Full time

Company Overview

Educational & Institutional Insurance Administrators, Inc. (EIIA) is a consortium dedicated to serving private, faith-based colleges, universities, and seminaries with innovative insurance and risk management solutions. Established over fifty years ago, EIIA emerged to provide essential coverage to historically black colleges and universities that faced challenges in securing property and casualty insurance from traditional providers. With the support of the United Methodist Church, these institutions were able to collectively purchase insurance, creating a viable market for coverage. EIIA was formally incorporated in 1976 as a not-for-profit organization focused on group purchasing and administration of insurance programs tailored for higher education.

The success of the group purchasing model led to the expansion of services to include employee health and welfare benefits, long-term disability, life insurance, and student health coverage. Additionally, risk management services were introduced to assist institutions in effectively managing and mitigating risks.

Headquartered in downtown Chicago, EIIA operates in a hybrid work environment, supporting over 145 higher education institutions across 39 states. The organization also manages two Vermont-domiciled captive insurance companies and two grantor trusts.

Position Overview

Key Responsibilities:

The Director of Risk Management serves as the primary liaison for designated member institutions. This role requires the development of strong relationships with members at all levels of their organizations, a comprehensive understanding of EIIA's offerings, and the ability to function in a dual capacity as both a risk manager and customer service representative.

The Director will engage in consultative practices to identify risks within higher education, enhance member risk management programs, devise effective risk management strategies, conduct on-site risk assessments, document service activities, and support EIIA's internal teams in resource development and program enhancement 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 and emerging risks.
  • Provide a comprehensive range of loss control, insurance, and risk management services, including risk assessments, loss cause analysis, contract reviews, regulatory compliance, and educational initiatives.
  • Conduct higher education-specific risk assessments and data analyses to formulate appropriate risk mitigation strategies.
  • Collaborate with institutions to identify and address significant risk management issues through evaluations and strategic planning.
  • Advocate for members' risk management initiatives when interacting with internal departments, vendors, and external service providers.
  • Conduct various campus visits, including orientation, loss-focused, and risk management assessments.
  • Review contracts and agreements from a risk management perspective, advising institutions on insurance requirements and loss prevention recommendations.
  • Oversee externally sourced loss prevention and safety service activities to ensure timely and quality service delivery to EIIA members.
  • Contribute to the development of resources for EIIA's website and member reference materials.
  • Monitor and disseminate best practices, standards, and trends in risk management and safety relevant to the higher education sector.

Essential Skills and Qualifications:

  • Demonstrated professionalism, accuracy, and a commitment to customer service.
  • Strong oral and written communication skills for effective interaction with members and EIIA teams.
  • Ability to create and deliver high-quality presentations to diverse audiences.
  • Accountability for results related to assigned institutions and projects.
  • Adaptability and initiative to meet the demands of the Risk Management Team.
  • Analytical problem-solving skills to evaluate information and select optimal solutions.
  • Attention to detail to ensure accuracy in service activities and project management.
  • Interpersonal skills to foster open communication with members and colleagues.
  • Organizational skills to effectively manage time and resources.

Supervisory Role:

This position does not involve direct supervisory responsibilities but requires collaboration with the Risk Management team to implement the service model effectively.

Qualifications:

To succeed in this role, candidates must possess:

  • Knowledge of fundamental risk management and loss control practices.
  • Familiarity with a variety of insurance policies and operations.
  • Basic understanding of claims management processes related to property, liability, and workers' compensation.
  • Proficiency in Microsoft Office Suite, including Word, Excel, PowerPoint, and Dynamics 365.

Preferred Qualifications: Professional designations such as Associate in Risk Management (ARM), Certified Safety Professional (CSP), or Chartered Property Casualty Underwriter (CPCU) are advantageous.

Education and Experience:

A bachelor's degree or equivalent is required; an advanced degree is preferred. A minimum of five years of experience in risk management, safety, or related fields is ideal, along with advisory or consultative experience.

Travel Requirements:

This position necessitates travel as required, estimated at approximately 30% of total time, to attend meetings, industry conferences, and training sessions.

Work Environment:

The role operates within a hybrid model, with many functions performed remotely. On-site presence may be required for team events.

Additional Information:

The above description outlines the general responsibilities and requirements for this position. It is not intended to be an exhaustive list of duties. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.

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