Director of Risk Management

Vaco; Toronto; On-site; CAD 90,000 - 150,000; Full time

Job summary

An established industry player is seeking a Director of Risk & Insurance to lead their risk management efforts. This pivotal role involves overseeing insurance functions, managing claims, and advising senior management on risk mitigation strategies. The ideal candidate will have extensive experience in insurance, particularly in leadership roles, and will be responsible for developing long-term insurance strategies that align with the company's goals. Join a dynamic and collaborative work culture where your expertise will drive significant impact and growth opportunities within the organization.

Benefits

Excellent growth potential

Dynamic work culture

Qualifications

• 5+ years of experience in insurance, preferably in a leadership role.
• Strong background in risk management and financial analysis.

Responsibilities

• Oversee insurance and risk management functions, focusing on renewals and claims.
• Advise senior management on potential sources of accidental loss.

Skills

Insurance Management

Risk Assessment

Financial Analysis

Strategic Planning

Communication Skills

Education

Bachelor's Degree

CPA or CFA Certification

Tools

Risk Management Tools

Insurance Software

Job description

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About the Company

Our client is an energy company. They are looking for a Director, Risk & Insurance who will be responsible for overseeing insurance and risk management functions, with a particular emphasis on renewals and claims. The role will involve working closely with brokers and the market, especially during the busy period between November and March, dealing with 60-70% of the renewal and insurance-related work.

Why Work Here

• Excellent growth potential, with opportunities to transition into higher roles
• Dynamic and collaborative work culture

About the Opportunity

• Advise senior management of all potential sources of accidental loss. Supervise activities related to conservation of human, financial and physical assets.
• Manage the organizations risk management department with the following goals:

Protect against financial loss resulting from:

• Damage to company property
• Downtime and additional costs from damage to property of the organization and others.
• Liabilities for property damage or injury to members of the public

Maintain a proper balance among:

• Claims adjusting costs
• Administrative costs
• Contractual transfer

Support the Treasurer and CFO in responding to various special requests from the Audit, Finance and Pension Investment Committee on Risk and Insurance matters.

Support the Treasurer in managing the company’s risk and insurance activities such as procurement of insurance, claims management, contractual review and approval of claims payments.

Support the Treasurer in insurance and risk management policies and procedures.

Support senior management on corporate strategic initiatives related to risk and insurance matters for mergers, acquisitions, divestiture and new ventures.

Provide the vision and strategic direction for the design, development, implementation and management of an insurance program for a publicly traded Company and its Stakeholders.

Under a custom incentive rate mechanism, develop long term insurance strategies to mitigate insurable loss exposure by balancing the cost of premium against the likelihood of losses.

Conduct periodic assessments and cost benefit analyses of insurance programs while evaluating non-traditional risk management tools such as: Captives; O.I.L.; Risk Financing Optimization etc.

Effectively communicate the company’s position on ESG to external parties (insurers, lawyers, adjusters and brokers). Ensure that the insurance program is appropriately aligned with the company’s ESG policies and targets.

As new business ventures are explored and created, identify significant property and casualty risk exposures, and then design, develop and secure appropriate insurance coverage to minimize their impact on the Company’s total cost of risk.

Identify recommend, implement process improvements resulting in efficiencies, and ultimately contribute to the company’s scorecard.

Manage the company’s risk and insurance matters related to due diligence requirements associated with mergers, acquisitions, divestitures, joint ventures and public offerings.

Maintain on-going communications with the brokers and insurers providing them with business updates and notification of all significant events to ensure risk is well understood and appropriately priced by underwriters.

Work independently and regularly interface with senior management and legal, providing counsel and advice on potential risks and liabilities on business contracts, projects, specific issues and initiatives, and recommending appropriate course of actions.

Prepare detailed submission packages and presentation material for the CFO, ELT and the Board (Governance and Audit Committees to assist them in fulfilling their mandates) as required, for all lines of business and corporate risks.

Prepare notes and presentation material for senior management as per approval process.

Work with ERM to facilitate the identification, assessment, and management of risks associated with major projects and strategic initiatives. Support the integration of risk mitigation and control methodologies into project management.

Support ERM in the preparation of semi-annual risk profile for the Chief Risk Officer to present to the Board of Directors, to help the President and Chief Executive Officer inform the Board of principal risks and status of plans to mitigate.

About You

• A mature professional with experience in large, structured companies.
• At least 5 years of hands-on experience in insurance (preferably in a leadership capacity).
• Must be at a Senior Manager or Director level.
• Open to candidates with certifications such as CPA, CFA, or insurance-specific qualifications.

How to Apply

When referencing this job, quote #442686

You must currently reside within the Greater Toronto Area and be permitted to work in Canada to be considered for this opportunity. A recruiter will be in touch with you if your profile meets our client’s requirements for this role.

Seniority level

• Director

Employment type

• Full-time

Job function

• Finance and Strategy/Planning
• Industries: Insurance