Director of Risk Management

Read the overview of this opportunity to understand what skills, including and relevant soft skills and software package proficiencies, are required.

Job Description

SUMMARY :

Reporting to the Vice President of Finance and Treasury, the Director of Risk Management is responsible for building and administering Montclair State University’s risk management programs.

The Director leads enterprise risk management efforts for Montclair and is responsible for developing risk management strategies, related policies and procedures, and influencing risk owners in the integration of risk management processes into the University's business, academic and research activities to manage and mitigate Montclair’s operational risks.

This position serves as trusted advisor and consultant to university leaders on matters related to risk assessment and insurance evaluation, policy development and ensuring the integrity of internal controls and business processes.

PRINCIPAL DUTIES AND RESPONSIBILITIES :

• Annually prepare a strategic plan including goals and expected outcomes and execute on that plan.
• Prepare insurance specifications for submission to potential insurers and supporting information such as underwriting exposure data and property statement of values.
• Consult and collaborate with constituencies across the institution, stakeholders, and affiliated organizations on business process improvement opportunities and operational and strategic risk issues to ensure that activities and objectives are aligned with sound management policies and practices.
• Work with operational and academic departments on a continuous and proactive basis to develop and coordinate a university-wide Business Continuity Plan (BCP) to maintain functional operations during and / or following disruptive events.
• Work with other operational departments on the administration of employee safety and risk programs campus wide, provide appropriate follow up to address issues which contribute to unsafe work practices or environments.
• Serve as a point of contact and a collection point for University loss claims and expenses associated with man-made and natural disasters qualifying for state and / or federal cost recovery, including accident and injury reports associated with faculty, staff, students, and visitors.
• Develop and recommend policies and procedures which will support an overall University strategy to manage the cost of providing asset, income loss protection and risk financing.
• Maintain knowledge of existing and developing laws and regulations related to the organization’s industry; assess and explain how new requirements may affect the organization in terms of risk exposure.
• Organizes, plans, and directs the work operations, develops performance standards, conducts performance evaluations, provides guidance and counsel to staff, approves personnel actions within the unit, including promotions, hiring, and disciplinary actions, in accordance with University policies.
• Promote risk management and compliance standards and best practices across all levels of the University. Advocate for risk identification and advises on risk treatment strategies.
• Provide advisory services to identify and address operational, compliance and strategic risks.
• Develop and deliver education and training to cultivate a culture of risk awareness.
• Manage university insurance policies and serve as liaison between departments to review insurance requirements for contracting, special events, and other insurable risks.
• Review and analyze metrics and data such as cash flow, inventory, breakage, and employee activity that could uncover fraudulent behavior.

Recommend and implement risk management solutions such as insurance, safety and security policies, business continuity plans, or recovery measures.

• Manage the claims associated with Workers Compensation, in coordination with the Office of Human Resources and ensure compliance with federal and state requirements.
• Conduct risk assessments, collecting and analyzing documentation, statistics, reports and market trends.
• Develops, administers, and monitors an annual budget and insurance budgets.
• Maintain the relationships with third party service providers (brokers, insurers, state insurance administrators, etc.) and act as the primary liaison with those service providers.
• Manage the daily administration, record-keeping and oversight of insurance programs and policies across a broad range of loss types.

Maintains current, accurate and meaningful insurance, premium, legal, loss, claims and related statistical risk management records.

• Assist in review and negotiations of contracts, specifically the insurance and indemnification provisions.
• Maintain current knowledge of emerging higher education-related legislation, issues and trends impacting the areas of risk management.
• Performs other related duties as assigned.
• Management retains the right to change or add job duties at any time.

QUALIFICATIONS : REQUIRED :

REQUIRED :

• Bachelor's degree from accredited college or university in Risk Management, Finance, Business Administration or industry-related area.
• A minimum of five years of related professional experience in a risk management and insurance environment, managing budgets and participating in financial planning and analysis of insurance portfolios.
• Understanding of ERM frameworks and its application to organizational operations and governance.
• Experience in preparing and delivering training programs.
• Experience in higher education or government.
• Knowledgeable in utilizing analytical tools.
• Ability to communicate effectively both orally and in writing, including writing complex reports, proposals and presentations.

PREFERRED :

• Master’s degree in a related field or J.D.
• Seven years of related professional experience in a risk management and insurance environment, managing budgets and participating in financial planning and analysis of insurance portfolios.
• Professional license, certification, or designation related to or demonstrating competency in ERM.
• Understanding of, sensitivity to, and respect for the diverse academic, socio-economic, ethnic, religious, and cultural backgrounds, disability, and sexual orientation of University students, faculty and staff.

PROCEDURE FOR CANDIDACY

Applicants should include a resume and cover letter describing how their background, skills and education match the needs of the University.

When applying, please take a moment to carefully read and follow the steps in the application instructions.

Department

Operations and Administration

Position Type

Administrative

Contact Information :

For questions or concerns, please contact Human Resources' Workday Recruiting Support at 973-655-5000 (Option 2), or email [email protected].

EEO / AA Statement

Montclair State University is an Equal Opportunity / Affirmative Action institution with a strong commitment to diversity.

Additional information can be found on the website at www.montclair.edu / human-resources / about-us / eo-aa-and-diversity /

Title IX and 34 C.F.R. 106 Policy

Montclair State is required by Title IX and 34 C.F.R. 106 not to discriminate on the basis of sex or gender, and does not discriminate on the basis of sex or gender in the operation of education programs and activities.

The requirement to not discriminate on the basis of sex or gender in the operation of education programs and activities extends to admission and employment.

For further details, please visit : https : / / www.montclair.edu / human-resources / job-seekers /

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