Assistant Vice President for Risk Management
Princeton University
Princeton, NJ

Princeton University is a world-renowned research university with a vibrant community of scholarship, research, and teaching that seeks to serve the nation and humanity and has achieved the highest levels of distinction in the discovery and transmission of knowledge and understanding. Princeton has a profound commitment to its 5,260 undergraduate students through a curriculum that emphasizes learning, creativity, innovation, and collaboration with a program of liberal arts in the humanities, arts, social sciences, natural sciences, and engineering. Princeton similarly has a strong commitment to supporting its 2,845 graduate students to become part of a community of scholars at one of the world’s leading research universities.

The Office of Finance and Treasury seeks a collaborative and values focused leader with deep functional expertise to serve as its next Assistant Vice President for Risk Management (AVP). The AVP is responsible for managing a strategic and comprehensive University-wide risk management and insurance programs and will serve as a key partner across the institution who brings an informed perspective toward improving institutional practices and realizing the University mission.

As the institutional leader for the University’s risk management and insurance programs, the Assistant Vice President will be responsible for the development, implementation, and ongoing administration of all insurance-related forecasting, negotiations, program implementation, and administrative oversight. The AVP will partner closely with University Health Services in administering student health plans and act as the University’s designated HIPAA Privacy Officer.

A member of the VP of Finance & Treasurer’s senior staff, the AVP acts as an ambassador across campus who collaborates with a variety of University cabinet members, department managers, faculty, and staff, as well as with external partners, including insurance brokers, insurance company personnel, third party vendors.

Responsibilities:

Bringing collaborative leadership and respect to all aspects of their work, the AVP will approach risk management with a strong sense of personal responsibility and duty toward the University’s greater mission. The AVP will deftly apply their technical expertise to act both responsively and proactively with University and external partners to solve problems related to risk management across the University with creative, flexible solutions. In addition, the AVP:

• administers the university’s property/casualty insurance program including insurance purchase, implementation of alternative risk finance methods including self-insurance, management of annual renewals, and projecting the University’s annual insurance expenses and premium allocations and related reserve account funding.
• participates in the management of the university-owned group captive insurance company.
• partners in various aspects of the financial management of the Employee/Retiree Health and Group Health Plans, including assistance in the development of annual budgets and trending rates and employee contribution modeling; renewal of annual health plan stop loss coverage; participation in vendor selections and coordination of contracted actuarial services and maintenance of related contracts.
• provides financial assistance to the Student Health Plan (SHP), including: management of program accounts; development of annual fees recommendation; selection, contracting and management of third-party claims administrators (medical and prescription); management of the university’s exclusive mental health provider network; and coordination of all ACA required plan approval processes and procedures with the Center for Medicare and Medicaid (CMS).
• provides oversight for all departmental activities relating to the management of claims including coordination with the Office of General Counsel; adherence to claims reporting requirements; development of internal loss runs and claims trending reports; and the development and implementation of internal claims management procedures (general liability, trustees and officers, property, fine arts, automobile and worker’s compensation).
• prepares management reports relating to the department of risk management and the insurance program, including periodic reports to the Board of Trustees committees.
• serves as the university-designated HIPAA privacy officer.
• provides oversight in the development and implementation of university risk management policies and procedures designed to mitigate risk and support university strategies around claims management, loss prevention and control and the transfer of risk.
• provides oversight of the university fleet safety management program, advising administrative and academic department personnel on a variety of day to day risk management issues such as: travel related issues; insurance contracting requirements; claims related issues; general safety and fleet safety related issues and concerns.

Essential Qualifications: 

• Bachelor’s degree, preferably in business, risk management or a related field (or equivalent experience).  
• Minimum of 7 to 9 years of relevant experience.
• Prior experience managing a team.
• Previous experience with alternative risk finance programs such as self-insurance and captives.
• Strong communication skills with the ability to regularly interact with diverse audiences at all levels of responsibility and authority.
• Ability to manage a team with focus on delivering exemplary customer service to internal and external audiences.
• Excellent relationship management skills with the ability to collaborate effectively with key stakeholders.
• Outstanding project management, analytical, and consultative skills.
• Proficiency with MS Applications.

More information about this opportunity can be found here. Tom Phillips and Marisa Chock of Koya Partners have been exclusively retained for this search. To express your interest in this role please submit your materials here. All inquiries and discussions will be considered strictly confidential.

Princeton University is an Equal Opportunity/Affirmative Action Employer and all qualified applicants will receive consideration for employment without regard to age, race, color, religion, sex, sexual orientation, gender identity or expression, national origin, disability status, protected veteran status, or any other characteristic protected by law. EEO IS THE LAW