at Rexnord Industries LLC in Chicago, Illinois, United States
Job Description
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... For full info follow application link.
Equal Employment Opportunity Employer: Female/Sexual Orientation/Gender Identity/Minority/Veteran/Disabled
