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
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