The salary of the finalist selected for this role will be set based on a variety of factors, including but not limited to departmental budgets, qualifications, experience, education, licenses, specialty, and training. The above hiring range represents the University's good faith and reasonable estimate of the range of possible compensation at the time of posting.
Reporting to the Deputy Treasurer, the Executive Director, Risk Management identifies and evaluates a diverse set of risks, makes risk control and risk transfer recommendations to mitigate/transfer the University's exposure to loss, and is responsible for structuring a global Property and Casualty insurance program that reflects the optimal combination of insurance and self-insurance.
Implements and manages the property and casualty insurance programs with an annual premium of $17.4 million, the self-insurance fund with an annual budget of approximately $21.1 million, the International Risk Management program and the Manhattanville Commercial General Liability, Workers Compensation, Miscellaneous Professional Liability and Contractor's Pollution Liability insurance programs. Collectively, two Owner Controlled Insurance Programs (OCIP) have been completed in the past 12 years covering sites 1A, 3, 6A, 6B and 7 of the Manhattanville Development project. Total Premiums were $36.9M and the maximum self-insured retentions totaled $55.7M. A major project is expected to begin at site 4 in 2023.
Identifies and evaluates risks resulting from the University's Global initiatives. Major activities include minimizing the health, safety, and security risks for international travel of students, faculty and staff, contract reviews of vendor insurance requirements and indemnification provisions, attending both periodic and impromptu meetings to address significant risk issues (i.e. International Research Committee, Export Controls, Emergency Management Operations Team, ISOS Services for Global Travelers, Global Center Annual Administrative Meeting, Property inspections with insurers ), reviews of upcoming events and recommending risk mitigation/transfer strategies to reduce/transfer risk.
Establishes and reviews policies intended to protect the University, its employees, faculty, students and visitors from insurable-type losses through the progressive application of exposure analysis, loss control and contemporary risk financing skills.
Additionally, this position, through its direct reports, serves as the in-house consulting resource advising all levels of University management, from senior administration through individual academic departments, on appropriate risk mitigation strategies.
Works closely with the Director of Risk Management in the implementation and monitoring of all Property and Casualty insurance programs purchased on behalf of the University. This includes the overall risk management program administration across the academic, research and medical school programs with the primary mission of evaluating both general and specific insurable risk to ensure appropriate coverage is in place.
Evaluates the trade-off of holding external insurance policies versus self-insurance and confirms with an independent actuary that the risk reserves are sufficient and appropriate to meet the University's financial goals.
Manages the ongoing delivery of service from outside vendors, particularly brokers and third party administrators, against performance metrics and service level agreements.
Implements and manages the Owner Controlled Insurance Program (OCIP) that provides Commercial General Liability, Workers Compensation, Miscellaneous Professional Liability, and Contractors Pollution Liability for Columbia, the construction manager, and all contractors/subcontractors for the aforementioned sites of the Manhattanville Project. Program management includes providing monthly status reports to Finance and Manhattanville Development Group executives that provide a cost analysis of open Commercial General Liability and Workers Compensation claims.
Functions as Columbia's lead representative to the Pinnacle Risk Retention Group, a Vermont captive, evaluates participation in the associated group policy purchasing programs and participates in the leadership as Columbia's Board Member and strives to attain a leadership role with select governing committees.
Works closely with the Associate Director for Claims and key internal departments (Office of General Counsel, CUIMC, Facilities, Procurement) on resolution strategies related to large claims and ongoing litigation.
Manages a team of six consisting of the Director of Risk Management, Director of International Risk Management, the Associate Director for Casualty Claims and Risk Control, the Assistant Director for Property Claims, Fleet Administration, and Budget, the Assistant Director for International Risk Management and the OCIP Assistant Director.
Performs other related duties as assigned.
Minimum of eight to 10 years of progressive experience as a risk management professional.
Advanced degree in business or finance strongly preferred.
Professional certification in risk management, audit or other associated field a plus.
Additional financial, legal or audit experience within a decentralized corporate environment preferred.
Experience with database software a plus.
Management experience required. Must include significant and progressive risk management experience (as opposed to only traditional insurance/claims oversight responsibilities).
Must be detail-oriented with strong analytical, problem-solving, project management, negotiation and conflict resolution skills.
Must have excellent written, oral and interpersonal communication skills.
Must be capable of working independently, with strong organizational capabilities, and be able to prioritize, on behalf of themselves and their direct reports, among multiple projects within a complex and changing organization.
Demonstrated ability to balance the day-to-day demands of internal clients with the broader objectives of implementing a holistic vision for the risk department.
Proficiency in using standard business software (Word, Excel, PowerPoint, Outlook) as tools in proactively delivering important communications.
The successful candidate must have sound judgment, with an open and collaborative style that encourages teamwork and cooperation.
Must have a passion for excellent customer service and a commitment to exceptional quality, and the desire to expand traditional risk management skills to an operational and strategic level as opportunities are presented.
Must be a self-starter and action oriented, with the initiative to create and implement new ideas in order to produce client-focused solutions.
Equal Opportunity Employer / Disability / Veteran
Columbia University is committed to the hiring of qualified local residents.
Columbia University is one of the world's most important centers of research and at the same time a distinctive and distinguished learning environment for undergraduates and graduate students in many scholarly and professional fields. The University recognizes the importance of its location in New York City and seeks to link its research and teaching to the vast resources of a great metropolis. It seeks to attract a diverse and international faculty and student body, to support research and teaching on global issues, and to create academic relationships with many countries and regions. It expects all areas of the university to advance knowledge and learning at the highest level and to convey the products of its efforts to the world.