Proactively seeks solutions to address emerging and ongoing risks in ways that optimally support University operations in a cost-effective manner. Develops and communicates policies and processes to University constituents for the purpose of identifying, managing and mitigating risks to the operational health of the University. Provides consultation to University’s schools, divisions and departments for the purpose of customizing risk strategies for specific operations.
The core duties of the Director of Risk Management & Insurance position are as follows:
INSURANCEADMINISTRATION: Manages renewal process for over 25 insurance policies that renew annually on staggered schedules throughout the calendar. 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. This 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. Oversees various annual audits, inspections and reports mandated by the Illinois Workers Compensation Commission, workers’ comp insurers and property carriers.
CLAIMSMANAGEMENT: Manages University insurance claims from start to finish, including communications with insurance adjusters, brokers, claimants and Loyola administrators. This includes shepherding the multi-stage process of insurance claims that may involve outside consultants, establishing reserves, and working with General Accounting to track expenditures and reimbursements. This process is complex and involves careful handling of sensitive personal and institutional information. Collaborates closely with legal counsel as needed on certain claims.
RISKMANAGEMENT: Responds to internal inquiries regarding unique operational risks generated by University activities. Analyzes potential risks to determine sufficiency of insurance coverage, often with the involvement of insurance carriers and brokers. Collaborates with Loyola administrators to develop prudent risk management practices within departmental policies and procedures. Provides customized training to departments from time to time, such as “Contracting 101.” Administers Loyola’s Motor Vehicle Record and Vehicle Use Policy, which includes evaluating data on employee and student records, making determinations regarding compliance, and communicating with third-party vendor and Loyola drivers.
CONTRACTREVIEW: Evaluates the insurance terms of a wide variety of contracts, taking into account the roles and responsibilities of each party. Makes recommendations for appropriate insurance requirements for each party.
OTHERDUTIES: Primary manager of key broker relationships. Keeps apprised of industry trends and insurance marketplace conditions related to higher education. Manages all administrative aspects of the University’s insurance program, including maintaining schedules of insurance policies, claims and premium transactions.
Bachelor’s degree is required; Master’s degree preferred.
At least five years of significant experience with property and/or casualty insurance and institutional risk management is required.
Demonstrated proficiency in diverse insurance-related matters, including insurance terminology and coverage types, policy forms and claims management processes.
Ability to understand basic contract language as relates to insurance requirements and ability to evaluate Certificates of Insurance and policy documents/forms to assess coverages and exclusions.
Professionalism, tact, diplomacy and confidentiality.
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 verbal and written 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.
Ability to develop and maintain recordkeeping systems and procedures.
Ability to develop and deliver training presentations and workshops
As one of the nation’s largest Jesuit, Catholic universities, Loyola University Chicago fosters a transformative cultural experience that honors diversity, equity, and inclusion. We are committed to not only recruiting, but also retaining a diverse, mission-driven workforce and enabling a culture of inclusiveness in an environment that values service excellence, stewardship, personal well-being, and professional development for all of our employees. We actively seek those who wish to join our faculty, staff, and students in a community of diverse opinions, perspectives, and backgrounds supporting our Jesuit mission and striving toward the same goal of being persons for and with others.
•With more than 4,000 employees at four different campuses, Loyola University Chicago strives for a diverse work environment that values service excellence, stewardship, personal well-being, and professional development.
•Loyola University Chicago supports its employees with a wide array of benefits centered around health and wellness, financial security, and work-life balance. These include, but are not limited to, medical/dental/vision insurance, tuition remission and exchange programs for employ...ees, legally domiciled adults, and/or their dependents, parental leave, housing assistance, and many other benefits.
•The University offers an easy way to save for retirement through the Loyola University Chicago Defined Contribution Retirement Plan (DCRP), a 403(b) plan, with up to a 10% contribution.
•Forbes recently recognized Loyola as a Best Employer for Diversity, Best Employer for Women, and Best Midsize Employer in 2022.