Director of Insurance and Risk Strategy
Job Summary Harvard's Financial Administration Department (FAD) is responsible for the stewardship of the University's finances, including related business processes and technology. FAD is dedicated to supporting the teaching and research mission of the University by providing outstanding financial services to the Harvard community; by providing support, guidance and consultation; by working to ensure compliance with University and federal guidelines; by mitigating risk; and by promoting the financial health of the University. Strategic insurance and risk professional with a proven track record of thought leadership in risk financing and successful executive engagement. This position represents an exciting opportunity to develop and implement creative risk financing solutions for a dynamic, complex, and decentralized environment. This is a role which transcends the buying of insurance and processing of claims to focus on risk management strategies such as developing a sustainable model for measuring the cost of risk, evaluating the financial impact of risk on the University, and determining appropriate risk transfer and risk reduction strategies. Job-Specific Responsibilities DUTIES AND RESPONSIBILITIES Working closely with University leadership, manage the design, procurement, and communications of the University's commercial property, casualty and management liability insurance portfolio to ensure alignment with University's aggregate risk appetite Identify, propose and, as appropriate, implement alternate risk financing solutions Manage a staff of three / four Develop and refine multi-year department budgets, cost recovery models and resource allocations In partnership with the Institutional Risk and Compliance Officer, identify and evaluate campus-wide exposures and propose actions to improve existing risk management practices Collaborate with all levels of school and administration leadership, including affiliated entities, to help identify and evaluate short- and long-term risks to operations and reputation Provide timely and practical guidance to internal clients' on-demand inquires as needed Educate the University community on important and emerging risk issues promoting and encouraging positive process change and alternative risk management (financing and transfer) approaches Review sensitive and complex litigation that has or may lead to an insurance claim, initiate appropriate investigation efforts, and direct, negotiate, and/or recommend actions for positive resolutions to these matters Coordinate with key stakeholders such as the Office of Strategic Procurement, Office of the General Counsel and the Office of the Vice Provost for Research when advising internal clients on risk mitigation approaches related to provisions contained in contracts, leases, licenses and similar instruments Maintain general fluency in the legal, regulatory, and governance environments impacting higher education Oversee the work of the department including the insurance renewal process and negotiation of premiums and coverage terms; preparation of specifications, and evaluating bids, for insurance broker and/or underwriting services; development and coordination of risk control programs to prevent losses and reduce premiums; loss adjustment and claims management Perform other related duties as required Basic Qualifications Basic Qualifications are the minimum threshold a candidate must meet in order to be considered for this role. Bachelor's degree in Business Administration, Finance, Accounting, Risk Management, Engineering or related field Ten plus (10+) years of related experience in enterprise, operational or insurance risk management Additional Qualifications and Skills The following Additional Qualifications are strongly preferred. If you meet some, but not all, you are still encouraged to apply; we value employees with a willingness to learn. Advanced degree or other professional certifications preferred (ARM or CPCU) Experience in a large university or not-for-profit setting an advantage Additional financial, legal (as it relates to contracts) or business management experience preferred Leading candidates will have a proven track record of successful executive engagement Leading candidates will have experience within a client-facing consulting environment Familiarity with regulatory and administrative requirements for administering self-insured programs Familiarity with industry practices/procedures regarding property & casualty claims administration, and claim/loss reserves analysis Must be detail-oriented with strong analytical, problem solving, project management, negotiation, and conflict resolution skills Must be capable of working independently, with strong organizational skills, and able to handle multiple projects and changing priorities Ability to interpret and present complex concepts to business leaders Excellent verbal and written communications skills; experience with writing and editing business website content helpful Ability to prioritize multiple projects and deadlines simultaneously, consistently producing high quality results with minimal supervision Working Conditions Interview and onboarding activity for this position may be conducted via telephone & Zoom video conferencing, based on the department's current presence on campus. This position will be based in Cambridge, MA. Due to the COVID-19 pandemic, you will begin your work remotely. All remote work must be performed in a state in which Harvard is registered to do business (CA, CT, MA, MD, ME, NH, NY, RI, and VT). The fully remote nature of this job is only temporary. Once the University and your supervisor determine that it is appropriate, in-person on-campus work will be required as a condition of continued employment. FAD is currently developing hybrid workplace models which will actively support some remote work (within a state in which Harvard is registered to do business) where business and team needs allow. Individual flexible and remote work options for this role will be discussed during the interview process. The University requires all Harvard community members to be fully vaccinated against COVID-19 and remain up to date with COVID-19 vaccine boosters, as detailed inHarvard's Vaccine & Booster Requirements. Individuals may claim exemption from the vaccine requirement for medical or religious reasons. Additional Information Please provide a cover letter with your application and upload as one document. Please note:
Harvard University requires pre-employment reference and background screening. We are unable to provide work authorization and/or visa sponsorship. This position has a 90-day orientation and review period. More about FAD:
FAD is committed to an engaging and diverse culture, strong values, and client partnership. The department is led by the Vice President for Finance (VPF), is comprised of eight reporting units:
Office of the Controller Office of Finance and Administration Office of Financial Strategy and Planning Office for Sponsored Programs Office of Treasury Management Risk Management and Audit Services Strategic Procurement Capital Planning and Project Services Total Rewards:
Harvard's Total Rewards Program is designed to attract, retain, and reward the performance of talented employees. As a Harvard staff member, you enjoy many perks that come with working for one of the top employers in Massachusetts, including:
Flexible work environment:
FAD supports flexible work arrangements where business needs allow. Paid Time Off:
3 - 4 weeks accrued vacation days, 12 accrued sick days, 12.5 paid holidays plus winter recess, and 3 personal days awarded each calendar year. Medical/Dental/Vision:
We offer a variety of excellent medical plans, dental & vision plans. Retirement:
University-funded retirement plan with full vesting after 3 years of service. Tuition Assistance Program (TAP):
$40 per class at the Harvard Extension School and discounted options through participating Harvard grad schools. Harvard University Employees Credit Union:
Our employees credit union provides a complete line of services for all your financial needs.https:
//huecu.org Transportation:
50% discounted MBTA pass as well as additional options to assist employees in their daily commute. Wellness options:
A variety of programs and classes at little or no cost, including stress management, massages, nutrition, meditation, and complimentary health services. Accessto athletic facilities, libraries, campus events and many discounts throughout metro Boston. Accessibility:
Harvard University IT plays an important role in supporting Harvard's commitment by seeking to create, procure and deploy technologies that are accessible to all, including and especially those who live with disability. Harvard welcomes individuals with disabilities to apply for positions and participate in its programs and activities. If you would like to request accommodations or have questions about the physical access provided.
Salary Range:
$200K -- $250K
Minimum Qualification
Banking, Loans & Insurance, Risk & Quantitative AnalysisEstimated Salary: $20 to $28 per hour based on qualifications.
Harvard University requires pre-employment reference and background screening. We are unable to provide work authorization and/or visa sponsorship. This position has a 90-day orientation and review period. More about FAD:
FAD is committed to an engaging and diverse culture, strong values, and client partnership. The department is led by the Vice President for Finance (VPF), is comprised of eight reporting units:
Office of the Controller Office of Finance and Administration Office of Financial Strategy and Planning Office for Sponsored Programs Office of Treasury Management Risk Management and Audit Services Strategic Procurement Capital Planning and Project Services Total Rewards:
Harvard's Total Rewards Program is designed to attract, retain, and reward the performance of talented employees. As a Harvard staff member, you enjoy many perks that come with working for one of the top employers in Massachusetts, including:
Flexible work environment:
FAD supports flexible work arrangements where business needs allow. Paid Time Off:
3 - 4 weeks accrued vacation days, 12 accrued sick days, 12.5 paid holidays plus winter recess, and 3 personal days awarded each calendar year. Medical/Dental/Vision:
We offer a variety of excellent medical plans, dental & vision plans. Retirement:
University-funded retirement plan with full vesting after 3 years of service. Tuition Assistance Program (TAP):
$40 per class at the Harvard Extension School and discounted options through participating Harvard grad schools. Harvard University Employees Credit Union:
Our employees credit union provides a complete line of services for all your financial needs.https:
//huecu.org Transportation:
50% discounted MBTA pass as well as additional options to assist employees in their daily commute. Wellness options:
A variety of programs and classes at little or no cost, including stress management, massages, nutrition, meditation, and complimentary health services. Accessto athletic facilities, libraries, campus events and many discounts throughout metro Boston. Accessibility:
Harvard University IT plays an important role in supporting Harvard's commitment by seeking to create, procure and deploy technologies that are accessible to all, including and especially those who live with disability. Harvard welcomes individuals with disabilities to apply for positions and participate in its programs and activities. If you would like to request accommodations or have questions about the physical access provided.
Salary Range:
$200K -- $250K
Minimum Qualification
Banking, Loans & Insurance, Risk & Quantitative AnalysisEstimated Salary: $20 to $28 per hour based on qualifications.
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