Senior Director Risk Management
7 days ago
The Senior Director Risk Management directs the risk management function for OmniTRAX, implements strategy for all lines of business, including family-office related functions (collectively, "Company"), to minimize current and future exposure to property, casualty, operational, and/or other risks for Company and affiliates. Manages risk by identifying, escalating and remediating high risk operational, strategic, reputational, properties, facilities and other vulnerabilities. Ensures the company's risk management policies and strategies are in compliance with governmental including: federal, state, local, FRA, AAR rules and regulations, as well as company policies and procedures. Establishes budgets, plans, policies and programs to achieve strategic objectives; communicates key model risk management strategies across the company and works with relevant risk management and governance committees to meet the company's strategic objectives. Responsible for hiring and managing insurance brokers to obtain appropriate insurance policies, including personal policies where applicable.
The Senior Director, Risk Management demonstrates and adheres to the company values of safety, honesty, ownership, respect and teamwork to ensure successful partnerships with customers and employees that result in OmniTRAX's continued success.
ESSENTIAL RESPONSIBILITIES
- Develop, monitor, direct and maintain risk management functions organization-wide to minimize the Company's exposure to insurable risks
- Serves as the primary resource to establish standards and procedures to ensure compliance with all applicable industry laws and regulations
- Create and implement organization-wide overall risk management strategy to reduce and mitigate exposure to risk in operations, property, casualty and other areas
- Monitor and analyze risks within the Company's business units; identify risks, establish internal controls, and implement mitigation factors; report to senior executives
- Develop and conduct risk assessments and analysis of the performance of risk management programs and processes; identify continuous process improvements; implement best practices
- Oversee and manage the collection, monitoring and reporting of risk event data to ensure compliance to internal and regulatory reporting needs and requirements
- Ensure compliance with laws and regulations that affect the organization through compliance reviews, other oversight activities and consulting with management as necessary; proactively track and identify compliance issues and regulatory developments to allow adequate time to implement necessary changes to policies and procedures
- Oversee the selection and management of ongoing relationships with insurance providers to reduce costs; ensure satisfactory standards of service; work with family office and senior management, brokers, captive administrator and actuaries to develop a risk financing strategy utilizing insurance and alternative financing options; assist with design, marketing and implementation of insurance programs
- Effectively communicate the risk characteristics of Company to: brokers, underwriters, insurers, and reinsurers in order to differentiate ourselves, allay insurer concerns and to reduce insurance costs
- Manage renewal process including collection of exposure data and other information required for carrier submissions
- Manage selection of and relationship with property and casualty brokers, insurers, and third-party administrator
- Communicate insurance premiums and estimated losses, when deductibles/retentions are significant, to operating company budget departments and to corporate accounting for accrual purposes; assist with equitable allocation of shared insurance costs
- Coordinate management and tracking of all open claims (including affiliate company claims) utilizing third-party administrators and Nurse Case Managers as needed; working with Risk Analysts to develop and establish policies and procedures which support the company's risk management objectives; assisting with implementation of Insurance Receivables process among Accounting, Risk Management, and Field Operations
- Manage, monitor and evaluate cost effectiveness of all insurance policies across the organization including, but not limited to: property and casualty, general and product liability, directors' and officers' liability
- Work with legal department to manage litigated claims toward successful resolution; evaluate and minimize contractual assumption of risk (and maximize contractual risk transfer) with customers, vendors, insurers, and service providers
- Work with executive team to identify and communicate relevant risks and opportunities, and to establish acceptable risk tolerance levels
- Provides consultation and advice to all levels of management through various risk management processes, including: independent review of policies, procedures, practices, controls and documentation
- Manage the purchase of all relevant insurance policies for all Company and family related matters
- Participate in the development and implementation of loss prevention and safety programs
- Maintain current knowledge of insurance and financial marketplace: keep abreast of changing regulatory environment; apprise management of potential impact to company and recommend appropriate actions, as needed
- Perform other duties and projects assigned
- Assist in creation and management of Company's ERM program
- Exempt employees
- Provide leadership, mentoring and guidance to team with execution of projects; set performance goals, and provide on-going coaching of employees to achieve career objectives, cultivate a high performance culture; build a leadership pipeline throughout the organization
- Set the example, create and lead the culture of mutual respect, cooperation and attention to detail for employees to deliver profitable execution on business goals
- Bachelor's Degree in Business Administration, Finance or related field
- 8+ years progressively more responsible risk management experience with strategy experience
- 2-4+ year supervisory experience
- Strong knowledge of brokerage industry and financial advisor reward, compensation, and incentive programs
- Read and interpret documents such as policies, proposals, claims, and standard operating procedures
- Read, analyze, and interpret general business periodicals, professional journals, technical procedures, and/or governmental regulations
- Write reports and business correspondence, policies, renewals and proposals
- Effectively present information to C-Team and departments
- Create and effectively manage administrative budgets; develop business performance measures to evaluate productivity
- Manage large projects and ensure that there is a clear line of communication through the organization
- Strong leadership and mentoring skills: build a high-performance team that meets or exceeds goals
- Exceptional project management skills: managing complex projects in diverse environments
- Organized, self-motivated and multi-tasker
- Creative, "out of the box" thinker for innovative solutions and savings strategies: excellent analytical, critical thinking and problem-solving skills
- Strong time management skills: work under pressure and meet assigned deadlines
- Effective interpersonal skills and relationship management skills: dealing with challenging situations, navigating disagreement, and negotiation at different levels in the organization
- Excellent verbal and written communication skills; effectively converse with all levels of the company, customers and business associates
- Intermediate computer skills in Microsoft Office Suite; advance Excel skills
- Professional integrity and accountability
- Work in fast-paced, collaborative environment
- None
- Previous experience in Rail Transportation, Supply Chain Logistics, Manufacturing and/or Oil and Gas industries
- MBA
- Certified Risk Management Professional (CRMP) or Certified Risk and Compliance Management Professional (CRCMP)
- Work in a climate-controlled office and routinely use standard office equipment
- Estimated Starting Annual Salary: $221,184
- Exact starting salary is determined by merit; seniority; geographic location; education, training, and/or experience related to job duties and responsibilities
- FLSA Status: Exempt, Not Eligible for Overtime
- Eligible for Participation - Annual Discretionary Bonus
- 401(k)
- 401(k) matching
- AD&D insurance
- Dental insurance
- Disability insurance
- Employee assistance program
- Health insurance
- Health savings account
- Life insurance
- Mental well-being resources
- Paid Maternity leave
- Paid Parental leave
- Referral program
- Relocation assistance
- Sick time
- Vacation time
- Vision insurance
- Up to 20%, as business requires
PHYSICAL REQUIREMENTS
Physical Requirements
% of Work Time
Remain in a seated position
80%
Speak and hear clearly
100%
Lift office products and supplies, up to 20 lbs.
20%
Stoop, kneel, bend and reach
10%
Dexterity to write and manipulate keyboard and mouse
100%
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