Organizational Area Chief Financial Officer - Risk Services
Location: Oakland, CA
Posting Salary Commensurate with education and experience.
Position Summary Serves as the Insurance Program Manager. Uses advanced enterprise risk management concepts and organization objectives to resolve highly complex and diverse issues to provide adequate insurance coverage for the University's risks. Regularly works on complex issues where analysis of situations or data requires an in-depth evaluation of variable factors. Exercises judgment in selecting methods, techniques and evaluation criteria for obtaining results.
Special Conditions of Employment Travel
Other Special Conditions of Employment Successful completion of a background check is required for this critical position.
Special Instructions/Additional Information Please be prepared to attach your resume and cover letter during the application process.
Job Duties Initiates, develops, and implements complex risk management programs and operations with respect to insurance coverage and contracts. In coordination with the University's insurance brokers and captive insurance company, manages the insurance underwriting specifications for all lines of insurance and surety, completes applications, and supplemental requests for information. Underwriting specifications and insurance applications provide detailed information on the University's complex and widely diverse activities to accurately depict the exposures and risks encountered by the University as a public institution with medical centers, extensive laboratories, and world wide risks. Audits and analyzes exposure data for accuracy and discrepancies to avoid under-reporting which can result in development unanticipated additional premium charges, insufficient coverage or denial of coverage or over-reporting which can result in unnecessary premium and costs. It is critical that the data accurately reflect the University's exposure to ensure the procured coverage will protect the University in event of loss and that actuarial studies based on this data will not result in underfunding of a program. Exposure data directly impacts premium, coverage, and program funding. Reviews insurance proposals, binders, policies of insurance, coverage summaries, endorsements, audits, and other related documents prepared by insurance brokers including but not limited to insurance summaries of insurance and insurance specifications to ensure coverage properly protects the University and terms and conditions are as agreed to avoid potential for coverage disputes in event of a claim, misinterpretation of coverage, gap in coverage, delay or failure to report claims. Provides direction to insurance brokers on insurance policy maintenance and retention to enable the University to meet any obligations relating to policy information. Responsible for planning and organization of renewal meetings and special meetings for the University's brokers, underwriters and risk managers. Manages underwriter data portfolios, oversees and reviews specifications for broker or underwriter proposals, evaluates and makes recommendations based on analysis. Review financial invoices related to insurance premiums and other related payments.
Responsible for providing analysis for highly complex potential exposure and loss areas and work with UC Risk Services team, brokers, and actuary to determine appropriate type and level of loss protection. Interacts with Risk Services Program Managers and University campuses and medical centers on insurance coverage and other related issues. Coordinates with various external and internal parties to maintain compliance with insurance policy requirements. Manages expiration or anniversary dates of policies and binders with attention to notices of cancellation, non-renewal, or conditional renewal, to avoid gaps in coverage. Manages all underwriting and coverage data including application, policy detail, status, and other elements in an electronic database. Reviews and manages insurance summaries and charts of insurance and assures accessibility on Sharepoint or other collaborative application as provided by the University.
Responsible for oversight of the Certificate of Insurance programs. Coordinates with Procurement and vendor regarding certificate of insurance database that collects and manages certificates issued to the University Responsible for Business and Finance Bulletin BUS-63 Insurance Requirements. Provides guides of recommended minimum insurance limits for contracts based on type of risk and partners with the Office of General Counsel on recommended insurance limits based on analysis and severity of risk exposures. Coordinates with the vendor regarding the system that issues certificates of coverage evidencing the University's or captives retentions. Oversees certificate templates and coverages. Updates and posts on the Risk Services website the generic certificate of coverage evidencing the University's retention levels. Oversees certificates issued by insurance brokers evidencing the University's insurance above coverage retentions.
Management responsibility for the systemwide Risk Management Information System (RMIS). Provides oversight of RMIS vendor and services. Serves as the RMIS expert. Provides user administration and support for the RMIS including acting as the gatekeeper for RMIS access. Train and support systemwide users. Generate reports as requested; test new software releases and provide associated information, training, and support to users. Coordinates UC user requests to the RMIS vendor. Assures that all exposure information and policy documentation is accurately reported and maintained. Validate data converted, transferred, or incorporated into RMIS system. Coordinates with the RMIS vendors to represent the University's interests and any new data requirements or system changes.
Provides communications of new and existing insurance programs and initiatives, changes to insurance programs, trends and developments in Risk Management, best practices, training and education materials, and other valuable resources. Provides benchmarking data for external affiliates such as the Risk Management & Insurance Society (RIMS), Advisen, University Risk Management & Insurance Association (URMIA).
Manages procurement of surety bonds for all campuses and medical centers to maintain compliance with Federal, State, or other governing entity requirements.