University of Chicago
Executive Director, Risk Management
University of Chicago, Chicago, Illinois, United States, 60290
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Executive Director, Risk Management
role at
University of Chicago The Office of Vice President and Chief Financial Officer helps lead the University's integrated strategic financial planning and oversees the University's financial operations, human resource function and information technology operations, ensuring through analysis, discipline, and organization to best support and serve the academic mission and priorities of the University. About The Department
The Division of Finance and Administration is fully aligned with the strategic and academic priorities of the University, and each of the units within the division is tasked with implementing the administrative processes necessary to achieve lasting excellence. Job Summary
This position provides leadership and direction through senior managers to identify, evaluate and plan strategies for the University's insurance programs in order to maximize protection of assets at the most economical rates and minimize effects of fortuitous loss. Responsibilities
Directs the University's insurance programs in order to maximize protection of assets at the most economical rate and minimize effects of fortuitous loss. Manages employees through subordinates, usually senior managers. Reports annually to the University Board of Trustees regarding University insurance programs. Manages the claims associated with Workers Compensation, in coordination with Human Resources. Works closely with the Executive Director of Compliance and Internal Audit on establishing a framework for University Enterprise Risk Management. Works directly with the University of Chicago Medical Center to support their risk management needs. Maintains sufficient reserves to pay known and incurred claims. Coordinates safety and loss prevention services, especially those provided by insurance companies, with those provided by the Office of Environmental Health and Safety and other units. Directs the claims management process of workers’ compensation and ensures compliance with federal and state requirements. Manages claims reporting for the University and timing submission of claims reporting to the insurance carriers. Conducts analyses on the risk program to create a financially efficient insurance program while maximizing risk coverage. Participates on University committees as assigned. Participates in the operational response to emergency or crisis situations, including travel, facilities, pandemic, weather and cyber, among others. Develops and directs risk management strategies and policies which identify, assess and mitigate the impact of risks originating from or impacting the University's portfolio of activities/interests. Oversees the negotiation of contract insurance requirements as necessary. Performs other related work as needed. Education:
Minimum requirements include a college or university degree in related field. Work Experience:
Minimum requirements include knowledge and skills developed through 10+ years of work experience in a related job discipline. Certifications:
Preferred Qualifications
Bachelors degree in risk management, economics, finance or related field. MBA or other advanced degree. Experience:
Background in the higher education industry highly preferred. Understanding of healthcare-specific insurance highly preferred. Certifications:
ARM, CRM, CPCU or other professional designations. Technical Skills Or Knowledge:
Personal computer skills with knowledge of Word, Excel, PowerPoint, and Access. Understand insurance markets and knowledge of property and casualty insurance products, insurance program design and alternative risk transfer techniques. Understand and interpret contracts and insurance policies. Knowledge of statistical and capital budgeting techniques and general accounting principles. Conduct financial analyses related to evaluating risk coverage and financial cost, including captive management. Basic working knowledge of property and liability loss prevention. General understanding of safety practices. Project management skills. Mathematical and analytical ability. General understanding of higher education and healthcare compliance and regulatory environment. Preferred Competencies
Work successfully with the University community of faculty, students and staff and with external organizations such as the University's insurance brokers, outside legal counsel, claims administrators and actuaries. Recognize risk issues in complex, ambiguous activities and relationships. Effective written and oral communication skills. Organizational and interpersonal skills supported by a strong attention to detail. Strong negotiating skills. Demonstrated enthusiasm and motivation, with the capacity to learn to build on skills. Working Conditions
Travel across campus multiple times. Traverse through buildings damaged by fire, windstorm, etc. and access non-public building spaces including attics, basements, mechanical rooms, steam tunnels. Application Documents
Resume/CV (required) Cover Letter (required) References Contact Information (3)(required) Job Family
Financial Management Role Impact
People Manager Scheduled Weekly Hours
37.5 Pay Rate Type
Salary FLSA Status
Exempt Pay Range
$148,750.00 - $192,500.00 Benefits Eligible
Yes Posting Statement
The University of Chicago is an equal opportunity employer and does not discriminate on the basis of race, color, religion, sex, sexual orientation, gender, gender identity, or expression, national or ethnic origin, shared ancestry, age, status as an individual with a disability, military or veteran status, genetic information, or other protected classes under the law.
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Executive Director, Risk Management
role at
University of Chicago The Office of Vice President and Chief Financial Officer helps lead the University's integrated strategic financial planning and oversees the University's financial operations, human resource function and information technology operations, ensuring through analysis, discipline, and organization to best support and serve the academic mission and priorities of the University. About The Department
The Division of Finance and Administration is fully aligned with the strategic and academic priorities of the University, and each of the units within the division is tasked with implementing the administrative processes necessary to achieve lasting excellence. Job Summary
This position provides leadership and direction through senior managers to identify, evaluate and plan strategies for the University's insurance programs in order to maximize protection of assets at the most economical rates and minimize effects of fortuitous loss. Responsibilities
Directs the University's insurance programs in order to maximize protection of assets at the most economical rate and minimize effects of fortuitous loss. Manages employees through subordinates, usually senior managers. Reports annually to the University Board of Trustees regarding University insurance programs. Manages the claims associated with Workers Compensation, in coordination with Human Resources. Works closely with the Executive Director of Compliance and Internal Audit on establishing a framework for University Enterprise Risk Management. Works directly with the University of Chicago Medical Center to support their risk management needs. Maintains sufficient reserves to pay known and incurred claims. Coordinates safety and loss prevention services, especially those provided by insurance companies, with those provided by the Office of Environmental Health and Safety and other units. Directs the claims management process of workers’ compensation and ensures compliance with federal and state requirements. Manages claims reporting for the University and timing submission of claims reporting to the insurance carriers. Conducts analyses on the risk program to create a financially efficient insurance program while maximizing risk coverage. Participates on University committees as assigned. Participates in the operational response to emergency or crisis situations, including travel, facilities, pandemic, weather and cyber, among others. Develops and directs risk management strategies and policies which identify, assess and mitigate the impact of risks originating from or impacting the University's portfolio of activities/interests. Oversees the negotiation of contract insurance requirements as necessary. Performs other related work as needed. Education:
Minimum requirements include a college or university degree in related field. Work Experience:
Minimum requirements include knowledge and skills developed through 10+ years of work experience in a related job discipline. Certifications:
Preferred Qualifications
Bachelors degree in risk management, economics, finance or related field. MBA or other advanced degree. Experience:
Background in the higher education industry highly preferred. Understanding of healthcare-specific insurance highly preferred. Certifications:
ARM, CRM, CPCU or other professional designations. Technical Skills Or Knowledge:
Personal computer skills with knowledge of Word, Excel, PowerPoint, and Access. Understand insurance markets and knowledge of property and casualty insurance products, insurance program design and alternative risk transfer techniques. Understand and interpret contracts and insurance policies. Knowledge of statistical and capital budgeting techniques and general accounting principles. Conduct financial analyses related to evaluating risk coverage and financial cost, including captive management. Basic working knowledge of property and liability loss prevention. General understanding of safety practices. Project management skills. Mathematical and analytical ability. General understanding of higher education and healthcare compliance and regulatory environment. Preferred Competencies
Work successfully with the University community of faculty, students and staff and with external organizations such as the University's insurance brokers, outside legal counsel, claims administrators and actuaries. Recognize risk issues in complex, ambiguous activities and relationships. Effective written and oral communication skills. Organizational and interpersonal skills supported by a strong attention to detail. Strong negotiating skills. Demonstrated enthusiasm and motivation, with the capacity to learn to build on skills. Working Conditions
Travel across campus multiple times. Traverse through buildings damaged by fire, windstorm, etc. and access non-public building spaces including attics, basements, mechanical rooms, steam tunnels. Application Documents
Resume/CV (required) Cover Letter (required) References Contact Information (3)(required) Job Family
Financial Management Role Impact
People Manager Scheduled Weekly Hours
37.5 Pay Rate Type
Salary FLSA Status
Exempt Pay Range
$148,750.00 - $192,500.00 Benefits Eligible
Yes Posting Statement
The University of Chicago is an equal opportunity employer and does not discriminate on the basis of race, color, religion, sex, sexual orientation, gender, gender identity, or expression, national or ethnic origin, shared ancestry, age, status as an individual with a disability, military or veteran status, genetic information, or other protected classes under the law.
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