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OSI Group · 15 hours ago

Director- Risk Management

Aurora, IL

Full-time

Hybrid

Lead/Staff, Director/Executive

5+ years exp

OSI Group is a premier global food provider that partners with leading foodservice and retail food brands. The Director of Risk Management will develop and implement a risk management strategy, oversee insurance procurement, and lead a team to ensure compliance and effective risk management practices.

Food Processing

Growth Opportunities

Responsibilities

Individual in this role manages a team, has authority to hire and performance-manage the team

Individual in this role leads/supervises/manages 1-5 employees

Develop a risk management strategy for the corporation which is in support of the overall organizational objectives, identifying both short and long-term goals

Develop a Risk Management Policy Statement and Global Risk Council

Identify and analyze potential impact of exposures of loss faced by corporation

Provide leadership to corporate and to division personnel in adopting the best demonstrated practices of companies that have been very successful in risk management. Monitor results of these activities

Contracts with, manages and monitors compliance against standards for third parties such as carriers, brokers, safety engineers, third party administrators, and risk consultants

Conduct comprehensive due-diligence reviews for prospective acquisitions and planned divestitures to uncover material risk-management and insurance exposures, assess the adequacy of existing coverage, quantify potential liabilities, and present clear, actionable recommendations to senior leadership

Approve vendor onboarding and review / approve request for Certificates of Insurance

Oversee preparation of annual risk management and insurance budget, including cost allocation to divisions and Total Cost of Risk

Compute and monitor versus budget the Total Cost of Risk

Oversee preparation of periodic chargeback of losses to divisions, as appropriate

Coordinate financial and administrative reporting for captive

Prepare quarterly budget-to-actual reports

Develop and maintain Risk Management Manual

Provide consultation and technical advice on insurance and risk management issues to corporate and divisions management and others, as needed

Prepare quarterly reports for management

Make recommendations and report on progress to Global Risk Management Council

Global insurance protection procurement across all lines of insurance programs

Conduct cost/benefit of program alternatives; evaluate adequacy of limits and appropriateness of retentions/deductibles for global and local programs

Make recommendations to CFO and Board regarding insurance purchases

Prepare complete underwriting submission packages to advocate on behalf of OSI

Negotiate insurance coverage placement and service agreements

Review insurance and risk management aspects of leases, major contracts and other legal documents assure compliance and company is properly protected in case of loss/event

Maximize use of captive and coordinate reporting and financial evaluation of programs in the captive

Receive, check for accuracy and maintain insurance policies

Obtain/issue Certificates of Insurance, Auto I. D. Cards and bonds, as needed

Develop and retain vital information regarding corporate risk management programs such as historical insurance policies and exposure data

Maximize use of RMIS system for claims analysis, underwriting submissions, management reporting, and identify potential losses to the company

Analyze loss data to identify trends and developments and identify appropriate claim cost containment techniques, manage litigation and claims resolution process. Collaborate with legal and other personnel on pertinent claims matters

Provide direction in the adjustment of claims, investigation of major losses and in settlement negotiations

Establish and monitor compliance with formalized claims service standards with service providers

Provide direction in the development of effective Pre-Loss and Post-Loss Injury Management Programs

Approve claims payments within authority level

This role has the responsibility to understand and places in practice appropriate safety procedures. This responsibility is achieved through education, training, use of protective equipment (as applicable) and by following safety policies, regulations, standards, and laws

Perform other duties as assigned

Qualification

Risk management strategyClaims managementFinancial managementGlobal insurance procurementMicrosoft Office SuiteData analysisLeadershipCommunication skillsTeam managementNegotiation skillsProblem-solving

Required

5-10 years of experience in related field is preferred

Excellent proficiency in all Microsoft Office Suite Products

5+ years managing a global risk management function for a manufacturing company with experience managing a safety program within that environment

Experience in claims management or claims processing

Understanding of accounting principles, allocation methods, cost of insurance and ability to evaluate risks and rewards on financial and non-financial basis

Familiar with information systems and how to mine data to create actionable reporting

Food industry experience a plus

Work is generally performed within a business professional office environment, with standard office equipment available

Work conditions are typical of an office environment

This role requires both domestic and international travel

Position may require the physical agility of lifting up to 15 pounds

Position may require frequent and/or infrequent of bending, squatting, pushing, pulling, stretching/reaching, use hands or fingers, talk, hear, feel objects, tools, controls and standing/walking on concrete flooring

Position may require the physical ability to stand/walk for Less than 4 hours