"Director of Risk Strategy - Division of Finance (Two-Year Term Position)"

Director of Risk Strategy - Division of Finance (Two-Year Term Position)

University Overview

The University of Pennsylvania, the largest private employer in Philadelphia, is a world-renowned leader in education, research, and innovation. This historic, Ivy League school consistently ranks among the top 10 universities in the annual U.S. News & World Report survey. Penn has 12 highly-regarded schools that provide opportunities for undergraduate, graduate and continuing education, all influenced by Penn's distinctive interdisciplinary approach to scholarship and learning. As an employer Penn has been ranked nationally on many occasions with the most recent award from Forbes who named Penn one of America's Best Large Employers in 2023.

Penn offers a unique working environment within the city of Philadelphia. The University is situated on a beautiful urban campus, with easy access to a range of educational, cultural, and recreational activities. With its historical significance and landmarks, lively cultural offerings, and wide variety of atmospheres, Philadelphia is the perfect place to call home for work and play.

The University offers a competitive benefits package that includes excellent healthcare and tuition benefits for employees and their families, generous retirement benefits, a wide variety of professional development opportunities, supportive work and family benefits, a wealth of health and wellness programs and resources, and much more.

Posted Job Title

Director of Risk Strategy - Division of Finance (Two-Year Term Position)

Job Profile Title

Executive Director B, Business and Finance

Job Description Summary

The Office of Risk Management and Insurance is responsible for coordinating the risk management and liability insurance activities of the University and the Health System. The Office identifies and evaluates areas of potential exposure to risk and implements measures to reduce the risk of loss University and Health System-wide.

The Director of Risk Strategy will develop comprehensive risk financing strategies for the University of Pennsylvania (Penn). This two-year term role will advise on and oversee specific aspects of insurance matters, with a focus on optimizing cost-effectiveness and enhancing protection against traditional, emerging, and evolving risks.

The role provides strategic leadership for and partners closely with the Associate Vice President and senior leaders to develop long-term strategic plans for expanded utilization of Penn's wholly owned captive insurance company and implementing integrated strategies.

Job Description

Key Responsibilities:

• Evaluate and strategically redesign Penn's current risk financing program, and alternative risk transfer methods.
• Develop and implement innovative risk financing solutions, utilizing the captive, accessing reinsurance markets, and exploring capital market options.
• Collaborate with various departments to identify, assess, and mitigate risks across the university and health system.
• Continuously monitor and adapt risk financing strategies to align with Penn's evolving needs and market conditions.
• Conduct financial and operational analysis to support planning efforts that span a wide range of initiatives.
• Other duties and responsibilities as assigned.

Qualifications:

• Master of Science, Master of Arts and Over 10 years of experience or equivalent combination of education and experience is required.
• Extensive experience in finance, risk management, and insurance, with a focus on strategic decision making.
• In-depth knowledge of various risk financing methods, including self-insurance, captives, and reinsurance.
• Proven analytical and problem-solving skills and demonstrated experience working with senior leadership and developing long-term strategy.
• Excellent communication and negotiation abilities. Experience working under tight deadlines and utilizing various systems/reports/data to develop long-term strategy and solutions.
• Proven track record in developing and implementing successful risk financing strategies.
• Proven experience, strategic mindset and skills in leading innovative approaches to optimize Penn's risk financing, ensuring long-term financial protection and operational resilience.

Job Location - City, State

Philadelphia, Pennsylvania

Department / School

Division of Finance

Pay Range

$129,695.00 - $200,000.00 Annual Rate
Salary offers are made based on the candidate's qualifications, experience, skills, and education as they directly relate to the requirements of the position, and in alignment with salary ranges based on external market data for the job's level. Internal organization and peer data at Penn are also considered.