KeyBank · 19 hours ago
Director of Corporate Insurance
United States
Full-time
Remote
Senior Level, Lead/Staff
$116K/yr - $216K/yr
10+ years expKeyBank is a financial services company seeking a Director of Corporate Insurance to develop and execute their insurance strategy. This role focuses on risk containment and insurable risk, managing relationships with stakeholders, overseeing claims management, and ensuring compliance with risk management policies.
Banking
Responsibilities
The Director of Corporate Insurance, reporting to Key Legal, will develop and execute the insurance strategy for KeyCorp and its subsidiaries
Key responsibilities include designing and procuring insurance programs, managing relationships with internal and external stakeholders, overseeing claims management, and ensuring compliance with risk management policies and contractual and regulatory obligations
The Director engages with lines of business, corporate committees, and senior executives, including the KeyCorp Board of Directors, and must be effective in identifying, presenting, and discussing issues relative to insurance and insurability with individuals at all levels throughout the organization
The successful candidate will develop a thorough understanding of the Company’s operations and build partnerships across the business and insurance industry to be able to identify, quantify and manage insurable risks
This role will provide risk management expertise and guidance to ensure relevant risks are adequate covered by insurance and/or alternative risk management mechanisms
The role involves the supervision of a small team
Primary responsibilities include:
Leading the budget and design of the insurance program structure (i.e., limits, retentions, policy form, etc.), selection of insurers, and binding of policies, including Property and Casualty, Executive Risks (D&O, Employment Practices, Fiduciary), Financial Institution Bond, Cyber/Information Security, Aviation, Contingent Liability, and other policies as needs arise
Collecting and validating information for the insurance underwriting process
Representing the company in underwriting meetings and coordinating the involvement of senior executives as appropriate
Staying informed about industry trends and making adjustments to programs as required
Developing, cultivating, and managing relationships with internal stakeholders and third-party service providers, including legal, brokers, insurers, and third-party claims management administrators
Serving as a subject matter expert in understanding insurance issues, recommending solutions, and implementing programs to optimize operations
Leading a team and mentoring and cultivating growth in department personnel and others who rely on Corporate Insurance for subject-matter support
Overseeing the management of all insured/self-insured claims in conjunction with brokers, insurers, legal counsel, and third-party administrators
Participating in trials and mediations with internal and external legal counsel
Participating in all aspects of the company’s subrogation efforts
Drafting and reviewing language and documentation relevant to indemnity, risk containment, risk transfer and insurance in corporate leases, client documents, and vendor agreements
Overseeing administration of the company’s insurance risk management information system
Coordinating with Finance for appropriate allocation of premiums and proper levels for loss reserves as confirmed by actuarial partners
Qualification
Required
Bachelor's degree in risk management and insurance, finance, business administration, or related field
10+ years of experience in large-lines insurance, including executive risks, with at least some experience in insurance risk management. Candidates with fewer years of experience may be considered if they demonstrate extensive and relevant expertise
Strong leadership experience, including demonstrated ability to develop teams and create partnerships
Understanding of basic financial and accounting concepts and their applicability to insurance
Proficiency in MS Office – Excel, Word, and PowerPoint
Ability to work with a risk management information system such as Riskonnect
Travel up to 5% – International travel required
Preferred
MBA, JD, CPCU, ARM
Experience in a large financial institution
Experience in a public company
Experience working with risk management systems
Extensive knowledge of diverse lines of coverage, including those in layered and quota-share programs
Experience managing large and/or complex claims
Strong verbal and written presentation skills
Benefits
Eligibility for incentive compensation which may include production, commission, and/or discretionary incentives.
Company
KeyBank
At KeyBank we’ve made a promise to our clients that they will always have a champion in us.
10001+ employees
Funding
Current Stage
Late StageLeadership Team
Chris Gorman
Chairman, Chief Executive Officer, and President, KeyCorp
Holly Santoro
Executive Administrator to the Chairman & CEO
Recent News
2023-08-28
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