Director, Risk Management

Steris - Mentor, OH (30+ days ago)3.2


Our Mission: At STERIS, we help our Customers create a healthier and safer world by providing innovative healthcare and life science product and service solutions around the globe.

Who we are: STERIS is a growing provider of infection prevention and other procedural products and services through our family of wholly owned subsidiaries.

Position Summary

The Director acts as general risk and insurance resource for senior management and the entire organization reporting directly to Vice President and Corporate Treasurer. This posiition develops and implements STERIS’s corporate risk management strategies and leads the risk management team in the administration of the global insurance programs, including placements, negotiations, coverage reviews, and claims management. This position supports other key internal stakeholders in communicating, identifying, managing, and transferring operational and commercial risks. This position is responsible for continuously monitoring and improving existing risk transfer and retention programs to ensure they are meeting objectives and identify where using alternative risk transfer is appropriate. This position manages both internal and external staff including external claims management and property risk control consultants.

Duties

Build and lead the global risk management team in maintaining a world class, cost efficient, risk management finance program that provides value to shareholders by reducing variability to STERIS’s cashflows and impact to the balance sheet.
Oversee the management of the following global commercial insurance programs: global property, global casualty, executive risk, cyber security, business travel, surety and other ancillary lines of coverage.
Direct all insurance negotiations. Interface with insurance brokers, insurers, and other third-party insurance/risk management related vendors such as actuaries to secure competitive and favorable insurance terms and contract certainty. Establish processes to work with service providers to identify and implement best practices.
Coordinate global claims activities working with claims management consultants and third-party claims administrators, internal and external legal, and other vendors in effective claims management. Gather information and provide recommendation of reserves and settlements within authority.
Plan and manage insurance and risk financing budgeting, departmental operating budget/expense, U.S. casualty loss reserve analysis, loss and insurance premium allocations, and accruals. Develops annual corporate insurance expense/budget and recognizes areas of opportunities to reduce the organization’s overall Total Cost of Risk (TCOR). Works closely with accounting and finance to ensure proper recording of reserves, business transactions and activity.
Develop and utilize quantitative risk analytics and models to provide insight on impacts of trends and manage long term risk financing decisions.
Partners with internal facilities, safety, human resources, security and other business units as necessary to implement loss control initiatives and quantify impact of the initiatives in executive-level reporting.
Directs, manages, and supports all merger and acquisition related activities and advises both internal and external stakeholders on risk management and insurance issues relating to such mergers, acquisitions, divestitures, and other unique risks.
Manage processes for supplier/subcontractor insurance compliance and serves as a technical liaison and resource for internal stakeholders (e.g. legal, contracts, quality groups).
Required Experience

Bachelor’s degree (B.S.) in Business Management, Finance, Accounting, or another business-related field preferred plus ten (10) years risk management experience or equivalent insurance company or insurance broker experience.
Without degree, tifteen (15) years risk management experience or equivalent insurance company or insurance broker experience. Professional designation or license in insurance, risk management, or finance preferred such as Chartered Property Casualty Underwriter (CPCU); Associate in Risk Management (ARM); Certified Risk Manager (CRM); or similar preferred.
Progressive global experience in a role in insurance/risk management ( 7 years)
Experience managing a risk management staff ( 7 years)
Experience planning, developing and managing a global risk management budget ( 3 years)
Demonstrated record of successfully partnering with other areas of an organization to drive risk management initiatives ( 7 years)
Strong communication skills. Ability to communicate effectively both verbally and in writing.
Must be able to interact with and influence individuals at all levels of the organization and outside parties. Serve as corporate representative, presenting professional image for STERIS, with industry or vendor organizations. Maintain effective working relationships with internal/external partners.
Must possess advanced analytical skills and the ability to use business tools such as Excel at least at an intermediate level and a variety of financial/loss reporting or database systems.
Extremely detailed-oriented with the ability to prioritize, organize, and handle competing demands simultaneously while meeting assigned deadlines.
Ability to function effectively with, or as part of, a team. Team-oriented/collaborative focus.
Strong understanding of healthcare and public company regulatory environment, auditing and compliance.
Ability to develop, improve and streamline processes to meet established goals and objectives. Basic understanding of lean operations a plus.
Professional designation or license in insurance, risk management, or finance preferred such as Chartered Property Casualty Underwriter (CPCU); Associate in Risk Management (ARM); Certified Risk Manager (CRM); or similar designations preferred.
Skilled in corporate business programs such as Microsoft 365 Office, Word, Excel and PowerPoint.