Enterprise Risk & Insurance Manager

Insurance And Risk Management Role At Pharmavite

Help us bring the gift of health to life. Working at Pharmavite is an experience like no other. With a focus on complete nutrition for all, each endeavor is urgent and every day counts. You'll have the opportunity to work on the #1 selling national vitamin and supplement brand, Nature Made, as well as an exciting portfolio of other products that are shaping the future of the healthy living industry. Consumer-driven innovation, high quality products and a promising portfolio, all driven by a team with a shared sense of purpose -- that's Pharmavite. Join us to bring the gift of health to life.

This role is not available for any form of immigration sponsorship or support, including completion of the Form I-983 training plan required for STEM OPT.

Position Summary

Responsible for all aspects of insurance for Pharmavite, including advising on insurance being acquired by parent company, OAI, advising on appropriate retentions, deductibles and market factors affecting insurance, understanding insurance policies in depth, gaps and risk in insurance coverages, the insurance market in general as same changes and evolves over time, ensuring vendors are carrying appropriate insurance, reviewing vendor's and Pharmavite's insurance policies (as appropriate) for gaps that put Pharmavite at risk, receiving and logging vendor insurance certificates, and making and following through with claims against insurance policies. Facilitates Pharmavite's enterprise risk management efforts through coordination with OAI.

Responsibilities

• Leads the identification, assessment, and prioritization of enterprise risks in partnership with cross-functional leaders, establishing clear ownership and driving the development and execution of mitigation strategies for top and emerging risks.
• On a quarterly basis, evaluates effectiveness and ensures insights are translated into actionable improvements within the business.
• Drives the development, negotiation, and implementation of risk mitigation strategies with business decision-makers, including supplier contract reviews to ensure appropriate risk transfer through indemnities, limitations of liability, and insurance requirements.
• Establishes and maintains supporting policies, processes, and standards to reduce risk, minimize business disruption, and strengthen business continuity and disaster recovery, while tracking effectiveness in reducing exposure.
• Facilitates the enterprise risk management program of the company, which includes among other things conducting annual risk surveys, tracking and evolving KPIs (key performance indicators), KRIs (key risk indicators), and efficacy of control measures
• Recommends and assists in the selection and negotiation of insurance policies and associated coverage
• Optimizes the organization's insurance coverage in areas such as property & casualty, general liability, product liability, and directors/officer's liability; Develops and coordinates risk control programs to prevent losses and reduce premiums
• Owns the end-to-end claims management process in partnership with operations, legal, finance, HR, OAI and external brokers, ensuring timely resolution, compliance with policy terms, and root cause analysis to inform risk mitigation and operational improvements.
• Oversee certificates of insurance (COIs) for vendors, customers and other agreements as applicable
• Designs, implements, and continuously optimizes the organization's financial risk strategy, including financing structures, facility and business liability insurance, and self-insurance programs, with ongoing monitoring, performance measurement, and refinement aligned to business objectives and risk appetite.
• Assesses what new risks are on the horizon (both those that originate internal and externally) and recommends whether new risks should be added to Company's risk registry
• Manages insurance budget
• Performs other related duties as assigned

Minimum Qualifications

• Education: Requires a four-year degree or its equivalent in a Business related discipline
• Certification: Certified Risk Manager (CRM) or Certified Insurance Service Representative (CISR) or must be able to obtain certificate within 12 months of employment or ARM (Associate in Risk Management).
• Experience: Requires 6-8 years' of experience in insurance and risk management. Relevant experience in a consumer-packaged goods or manufacturing industry preferred.

Knowledge/Skills/Abilities Requirements

Comprehensive knowledge of the field's concepts and principles Strong analytical, research, and critical thinking skills A continuous improvement mindset Demonstrated ability of creating effective insurance strategies Strong cross functional collaboration and influencing; Takes a consultant approach Business acumen and understanding of business pressures and goals. Excellent interpersonal, facilitation, and oral communication and writing skills Detail oriented and excellent organizational skills including document control on all assigned matters High level of professionalism in dealing with all matters, especially confidential and sensitive issues Ability to work independently as well as a member of a project team, be self-motivated, manage high volume of work, prioritize effectively, meet numerous deadlines and repeatedly shift between projects Proficient with Word, Excel and Power Point applications

Our Offer

Here, career paths aren't predefined, and bureaucratic limitations don't exist -- you have the opportunity to grow, learn from industry pioneers, and develop the way you want to. Pharmavite is investing more in the development of our team -- to help us deliver on our purpose and help you achieve your career aspirations. Our environment is geared to fuel curiosity, encourage experimentation, and generate learning as this is the way we develop ourselves and our organization. Pharmavite is committed to meeting the needs of our employees and their families with a Total Rewards package that's as comprehensive as the vitamins and supplements we deliver to consumers. With competitive compensation programs and standout benefits, we provide employees with optimal health and well-being -- as well as peace of mind. These rewards -- plus our new recognition program -- ensure employees feel supported both at work and home.

Salary Range National Target Base Pay Range: $117,000.00 - $195,000.00. The salary range for this position is based on national standards. For candidates in California and New York metro the Target Base Pay Range is $130,000 - $216,000, to reflect the cost of living and market conditions in those areas. Actual compensation will take into account a wide range of factors that are unique to each candidate, including but not limited to geographic location, education, experience, qualifications and job-related skills. It is not typical for an individual to be hired above the midpoint of the range for their role and compensation decisions depend on the facts and circumstances of each case. This information is provided to applicants in accordance with state and local laws. Base pay is only one component of our total rewards offerings, and we will take the full offering into consideration when presenting an offer of employment. Our total rewards package for this position may also include an annual performance bonus, Medical, dental and vision benefits, 401K match, and other wellness benefits.

Pharmavite is an equal opportunity employer. We prohibit employment discrimination and harassment based on race, color, religion, age, sex, sexual orientation, gender, national origin, and any other basis protected by state and federal law. Pharmavite recruits, hires, employs, trains, promotes, and compensates individuals solely based on job-related qualifications and abilities. Pharmavite also provides reasonable accommodation to qualified individuals with disabilities or based on a sincerely held religious belief, in accordance with applicable laws. If you need to inquire about an accommodation to complete the application process, please email View email address on click.appcast.io.

Disclaimer The above information on this description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities and qualifications of employees assigned to this job.

California Fair Chance Act: Qualified Applicants with arrest or conviction records will be considered for Employment in accordance with the Los Angeles County Fair Chance Ordinance for Employers and the California Fair Chance Act.

Job Alert Fraud: We have become aware of scams from individuals, organizations, and internet sites claiming to represent Pharmavite in recruitment activities in return for disclosing financial information. Our hiring process does not include text-based conversations or interviews and never requires payment or fees from job applicants. All of our career opportunities are regularly published and updated on Pharmavite.com's Careers section. If you have already provided your personal information, please report it to your local authorities. Any fraudulent activity should be reported to: View email address on click.appcast.io.

More than 50 years ago, our founders aimed to improve health & wellness by focusing on the basics—good nutrition and essential vitamins & minerals. Since that day, we've become a leader in the health and wellness industry and have earned the trust of consumers, healthcare professionals, and retailers alike. Our sole purpose then and now is to bring the gift of health to life, by helping people achieve a healthier way of living. This purpose is our passion and priority. Helping people live healthier, fulfilling lives is no simple task. Guiding us on our journey are our core beliefs. Simply put, we believe energy and vitality fuel the pursuit of happiness. We believe our world of plenty is creating a poverty of health, but good health should be within reach for all.