Risk Manager- Insurance

Illinois Tool Works; Glenview (IL); On-site; USD 120,000 - 140,000; Full time

Job summary

A leading manufacturer seeks a Risk Manager to oversee insurance activities, requiring strong analytical skills and an insurance background. This role involves managing global insurance programs, supporting risk management, and communicating with vendors and brokers. Competitive annual salary and comprehensive benefits offered.

Benefits

Comprehensive benefits package

401k plan with company match

Flexible Spending Accounts

Health Savings Accounts

Employee Assistance Program

Commuter benefits

Educational Assistance

Parental Leave

Vacation and sick time

11 Paid Holidays

Qualifications

• 8+ years of insurance-focused experience in risk management, underwriting, or brokerage.
• Detail oriented with proven experience in managing relationships across cultures.

Responsibilities

• Manage global property and casualty insurance administration and placement.
• Oversee data for underwriting submissions and applications.
• Manage Risk Management spend and monthly reporting process.

Skills

Analytical skills

Communication skills

Interpersonal skills

Organizational skills

Education

Bachelor's degree

Professional qualification in insurance or Risk Management

Tools

Microsoft Office Suite

Job description

Job Description:

Since its founding more than 100 years ago, ITW has become one of the world’s leading diversified manufacturers of specialized industrial equipment, consumables, and related service businesses. We place a high premium on developing innovative solutions–most of which are developed in tandem with our customers. And we continue to ensure that our customers receive timely, cost-effective service for our innovative products.

ITW’s differentiated business model comprises unique core capabilities: our proprietary 80/20 business process, customer-back innovation, and our well-known decentralized entrepreneurial culture. These capabilities are unmistakably ITW—and key to our longevity and strong performance.

ITW’s products and solutions are at work all over the world, in deep-sea oil rigs, aerospace technology, bridges and wind turbines, healthcare, the spaces in which we live and work, the cars we drive, and the mobile devices we rely on. We are never, whether we know it or not, more than a few steps from an innovative ITW solution.

Today, ITW (NYSE: ITW) employs 46,000 people with operations in 51 countries with headquarters in Glenview, IL. Our campus includes a fitness center at no cost to the employees, cafeteria, outdoor volleyball courts, walking trails around the facility, employee resource groups, corporate discounts, dry cleaning services, covered/outdoor parking, and much more. We are just a block away from the nearest Metra station, and it is a quick 20-minute train ride to downtown Chicago, museums, lakefront, and other activities.

More details on our benefits can be found on our website athttps://www.itw.com/careers/benefits-compensation/

The Risk Manager position will manage a broad scope of insurance activities including the placement and administration of the global insurance programs along with other Risk Management functions. The ideal candidate will have strong technical insurance background and experience from corporate Risk Management, Underwriting and/or Broker, and will possess a solid analytical background with a detailed oriented approach and excellent communication skills.

The Risk Manager will report to the Director of Risk Management and work closely with the Risk Management Team.

Primary Responsibilities

• Manage the global property and casualty insurance administration and placement.
• Oversee the data and exposure information provided for underwriting submissions and applications.
• Manage the Risk Management spend and monthly reporting process.
• Support the management of the insurance captive.
• Assist in the review of insurance language in contracts for ITW operating businesses.
• Oversee the quarterly actuarial analysis process.
• Other duties assigned by the manager.

Job Requirements

• A bachelor’s degree is required. A professional qualification in insurance or Risk Management is preferred.
• 8+ years of insurance-focused experience in a risk management department, underwriting or brokerage firm/company is required.
• The ability to work full time, 5 days a week at the Glenview, IL campus with flexibility on hours is required.
• Proven experience in managing business relationships, vendors, insurance carriers and broker partners across a wide range of cultures and geographies.
• Proficient in Microsoft Office Suite standard business software (MS Office).
• Detail oriented with solid organizational skills.
• Excellent communication and interpersonal skills.

Compensation Information:

The compensation package for the role offers a competitive base salary ranging from $120K - $140K annually. This position is eligible to participate in the annual incentive plan.

ITW considers various factors when extending an offer, including but not limited to the scope and responsibilities of the position, the candidate's work experience, education and training, geographic location, key skills, as well as market and business considerations.

In addition to a competitive salary, ITW employees in the U.S. are eligible for a comprehensive benefits package. This package includes medical, dental, vision, disability and life insurance programs. We also provide a 401k plan with both a company match and additional employer contribution, Flexible Spending Accounts, Health Savings Accounts, Employee Assistance Program, Commuter benefits, Adoption Assistance, and Educational Assistance; Parental Leave, vacation, sick time, and 11 Paid Holidays.