Proactively seeks solutions to address emerging and ongoing risk and compliance areas in ways that optimally support University operations in a cost-effective manner. Assists in developing and communicating policies and processes to University constituents for the purpose of identifying, managing, and mitigating risks of the University and maximizing adherence to compliance programs throughout the University. Provides consultation to University departments for the purpose of customizing risk and compliance strategies for specific operations.
Essential Duties and Responsibilities
Risk Management: Responds to internal inquiries regarding unique operating risks generated by University activities. Analyzes potential risks to determine the sufficiency of insurance coverage, often with the involvement of insurance carriers and brokers. Evaluates the insurance terms of a wide variety of contracts, considering the roles and responsibilities of each party. Makes recommendations for appropriate insurance requirements for each contract party. Collaborates with University administrators to develop prudent risk management practices within departmental policies and procedures.
Insurance Administration: Coordinate renewal process for numerous insurance policies. Maintains relationships with administrators in all areas of the University in order to collect, evaluate and disclose risk exposure data and determine appropriate levels of insurance coverage. The role involves eliciting the cooperation of numerous University departments, aggregating large amounts of diverse data, and interpreting the data into meaningful reports for administrators and insurance carriers.
Claims Management: Manage University insurance claims from start to finish, including communications with insurance adjusters, brokers, claimants, and University administrators. This includes shepherding the multi-state process of insurance claims that may involve outside consultants, establishing reserves, and working with the Business Services to track expenditures and reimbursements. This process is complex and involves careful handling of sensitive personal and institutional information. Collaborates closely with General Counsel as needed.
Compliance: Assist in the administrative oversight of regulatory compliance programs, university policy administration, and related activities and operations of the University. Facilitates the implementation, monitoring, and maintenance of mission-critical compliance-related initiatives. Collaborates with departments that are responsible for regulatory compliance activities. This is accomplished through the development of compliance matrices, committee infrastructures, and business processes that support timely and accurate compliance with laws, regulatory requirements, university policies, and procedures.
Knowledge, Skills, and Abilities
Proficiency in diverse insurance-related matters, including insurance coverage types and claims management processes.
Ability to understand basic contract language as it relates to insurance requirements and ability to evaluate Certificates of Insurance and policy documents to assess coverages and exclusions.
Knowledge of Federal, State, and local regulations for private non-profit institutions of higher education.
Ability to lead and serve on university committees as necessary to represent the University’s enterprise risk management and compliance programs.
Strong planning and organizational skills to prioritize multiple projects under pressure and shifting demands and to meet critical deadlines.
Strong analytical and problem-solving skills with experience in gathering and collecting data, reasoning logically, drawing valid conclusions, and making effective recommendations to management.
Strong written and verbal communication skills to prepare clear, concise, and effective business correspondence.
Demonstrated communication and interpersonal skills to interact with groups of diverse individuals at all organizational levels, both inside and outside of the University.
Proven ability to exercise initiative and work independently, as well as within a team setting.
Education and/or Experience
Bachelor’s degree in Business Administration or related area.
Five (5) years of experience in enterprise risk management and compliance management.
