Insurance Risk Manager

Description

Job Summary

This position provides comprehensive support for the Health System's corporate insurance program, related compliance issues and claims. The position requires significant insurance knowledge, with a primary emphasis on healthcare professional liability, general liability, cyber, property, and automobile lines and claims. This position requires on-premises work at the Health System's Miami offices 2-4 days per week (as determined by operational needs).

Job Specific Duties

• Lead end-to-end management and administration of the organization's corporate insurance programs, including healthcare professional liability, general liability, property, builder's risk, cyber, auto, workers' compensation, and other corporate insurance coverages that protect the Health System's operations, employees, and corporate assets.
• Plan, organize and manage the renewal process for all insurance policies (except employee related insurance policies) each year to include the collection, analysis and validation of data, the preparation of applications and related documents, and other related activities to support the insurance application, renewal and audit processes.
• Manage the identification and timely reporting of claims, potential compensable events (PCEs) and other incidents to appropriate third-party administrator, insurance broker and/or insurance carrier (directly or through designated representative), and assist/support the third-party administrator and outside counsel with the investigation of claims, PCEs or incidents (as applicable based on subject matter). Preparation and analysis of loss runs, claims reports and other related documents on scheduled basis.
• Identify loss trends and emerging risks and collaborate with internal stakeholders on the development of risk mitigation plans.
• Conduct regular reviews of existing coverage and policies to ensure alignment with operational needs, risk exposure, and compliance requirements; propose updates and coordinate approved changes and/or new insurance products or strategies, in collaboration with brokers, actuaries, and internal stakeholders.
• Analyze and interpret contracts and agreements and recommend appropriate revisions to ensure insurance provisions (including subrogation and indemnification provisions) align with Health System requirements and policy terms. Support negotiation of contractual insurance provisions with contracting parties (as needed).
• Collaborate with Legal, Supply Chain and other departments and stakeholders to integrate insurance processes and requirements into the overall business operations, including risk transfer strategies (indemnification and insurance requirements) and vendor compliance (e.g., COIs).
• Foster and maintain a strong working relationship with the Health System's designated broker representatives and serve as primary contact between Health System personnel and broker and insurance carriers on insurance matters.
• Stay updated on insurance industry trends, emerging technologies, and changes in regulations to provide guidance and ensure compliance.

Qualifications

Minimum Job Requirements

• Bachelor's degree in Business, Finance, Risk Management or related field from an accredited college or university. Direct experience considered in lieu of degree requirement, with two years of direct experience per each year of required degree. This consideration is concurrent with specified required experience
• 5+ years' direct experience in risk management and corporate insurance, with increasing responsibility.
• 3+ years' direct experience with healthcare professional liability (e.g., medical malpractice) coverage and claims.
• Requires on-premises work at the Health System's Miami offices 2-4 days per week (as determined by operational needs).

Knowledge, Skills, and Abilities

• Professional certifications such as ARM, CRM or CPCU (or in progress) preferred.
• Experience with captive programs or other self-insurance programs preferred.
• Significant knowledge of the insurance industry, with a primary emphasis on healthcare professional liability, general liability, cyber, property and automobile lines and claims.
• Ability to assess insurance needs and adequacy of existing insurance coverage and policy terms in alignment with operational needs and risk exposure.
• Highly dependable, professional, integrity, and good judgment.
• Excellent organizational skills, verbal and written communication skills; ability to interact effectively with brokers, third-party administrator(s), outside legal counsel, actuary, insurance representatives/underwriters, and all tenure levels (e.g., management and staff) across departments and business units.
• Ability to make independent judgements, to exercise authority within established limits, and to plan, organize and prioritize own daily routine in order to complete work under deadlines and to manage multiple priorities in a fast-paced environment and to be responsive with a strong sense of urgency.
• Strong analytical, organizational, and problem-solving skills with great attention to detail.
• Ability to work independently and be a collaborative team member with strong interpersonal skills.
• Ability to maintain a high level of confidentiality.
• Experience in Microsoft 365 (Teams, Outlook, Excel, Word, Power Point) required. Experience in RL Solutions (incident reporting system), and Legal Tracker (matter management application) is a plus.
• Proficiency in English required.