Captive Insurance Program Director

Location: OaklandFull Time Job ID: 57290 Job Posting For UCOP internal applicants, please login to the internal candidate gateway at: For UCOP internal applicants, please login to the internal candidate gateway at: For UCOP internal applicants, please login to the internal candidate gateway at: Jobs at UCOP UC OFFICE OF THE PRESIDENT At the University of California (UC), your contributions make a difference.
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Learn more about the UC Office of the President Department Overview The Office of Risk Services is responsible for developing and implementing Enterprise Risk Management systemwide, identifying and developing strategies to minimize the impact of risk, developing a center of excellence for managing risk, reducing costs and improving safety by executing new ideas and strategic plans in a rapid manner.
By strategically managing risk we can reduce the chances of loss, create greater financial stability and protect our resources in support of UC's mission.
Position Summary This position reports to the Executive Director of the University's captive insurance company, Fiat Lux Risk and Insurance Company.
The University's Captive Insurance Company Platform (Captive Platform) consists of five licensed and regulated captive insurance companies (Fiat Lux Risk and Insurance Company, Eureka Insurance Company PCC, Eureka One IC, an incorporated cell Captive Insurance Company and Sequoia IC, an incorporated cell of Eureka Insurance Company PCC.
The Fiat Lux, Risk and Insurance Company, contains over two billion in assets and collects over $600 million of premiums annually.
Through the Captive, there are over 45 lines of insurance managed, including medical malpractice, general liability, auto, employment practices, workers' compensation, travel insurance, cyber and network liability, aviation, and marine.
The Captive Program Director is directly responsible for program development and management within the University's captive program, including analysis and support of these programs to grow Fiat Lux and its affiliated programs.
Accountable for establishing operational objectives and work plans and overseas assignments to multiple and various captive units.
Having wide-ranging experience uses enterprise risk management concepts and organizational objectives to resolve the most complex issues with organization-wide impact.
Works on the most complex issues with little or no precedent where analysis of situations or data requires an in-depth evaluation of variable factors.
Exercises judgment in selecting methods, techniques, and evaluation criteria for obtaining results.
This individual is considered a subject matter expert and often recognized as an industry expert by external connections.
Key Responsibilities 30% Directs and Manages Portfolio of Risk - Formulates strategies/initiatives to create cost savings and financial efficiencies for the institution systemwide- Develop, modify, and execute captive programs and policies which affect immediate captive and risk operations and also have organization wide effect- Leads and manages external broker and/or underwriter teams through reinsurance proposals and negotiations, evaluates new captive initiative proposals with cross-functional teams internally and externally, and produces feasibility studies presented to the Executive Director and Fiat Lux Board of Directors- Develops and educates senior leadership and other business units on captive related programs and initiatives - Subject matter expert on captive related business, processes and operations internally at UC and externally within the greater captive insurance industry 25% Program Development- Lead architect for first and third-party captive program initiatives through design, development, implementation and ongoing program management.
Functions as the project manager for the development and implementation of new programs.
Determines objectives, directs programs, develops strategies and policies.
Develops and implements captive guidelines to comply with claim reporting provisions under insurance/reinsurance policies for defense counsel and third-party claims administrators.
Proactively assesses risk to establish new captive programs, systems and procedures to protect organizational assets.
25% Program Management- Responsible for the management of human, financial, and physical resources, and functions with a high degree of autonomy.
- Ensures program operations meet captive guidelines to comply with claim reporting provisions under insurance/reinsurance policies for defense counsel and third-party claims administrators.
Facilitates involvement of subject matter experts, including external professional service organizations, but not limited to; Actuarial firms, legal firms, reinsurance companies, administrative companies, third party administrators (claim payment organizations), tax and audit firms, captive management firms, commercial insurance brokers, and government insurance regulators to continually enhance the organization's ability to manage and reduce the cost of risk to the university.
20% Program Data Reporting and Analytics:- Conducts ongoing reviews of captive program performance and financial statements issued by captive management accountants and confirms accuracy of annual reporting of captive activity in University financial statements.
- Spearheads reports with captive actuaries annually to determine funding and retention levels of captive programs.
- Actively leads and manages teams of professionals charged with compiling underwriter data, preparing broker/fronting carrier bids, evaluating bids, and concluding insurance contracts and agreements Skills and Abilities Required Qualifications Advanced or specialized knowledge in the following areas: captive insurance; risk management; insurance; forecasting and analysis; accounting; risk modeling process; knowledge of common organization-specific computer application programs.
Thorough knowledge of basic risk management techniques and strategies, including risk prevention, risk retention and risk transfer (insurance policies and indemnity agreements), and risk financing.
Excellent skills to develop and enhance captive projects and programs.
Experience analyzing potential captive options from development to implementation.
Highly developed ability to concisely present complex risk findings and make recommendations verbally and in writing.
Highly developed ability to use critical thinking and analytical skills to solve problems.
Proven skills applying mathematical computations and statistical analysis in order to evaluate financial data; synthesize and summarize; and present in appropriate form, depending on intended audience.
Demonstrated analytical and critical thinking skills to research, synthesize, and summarize clearly and concisely information from multiple sources; ability to identify pertinent questions, anticipate and identify problems, and develop creative solutions for resolution and implementation; initiative to attempt unfamiliar projects and assignments.
Excellent written, verbal and interpersonal communications skills, including political acumen and skill to effectively communicate with diverse constituencies in a highly political environment.
Expert interpersonal skills, customer service orientation, active listening skills and highly effective team leadership skills.
Expert ability to prioritize and multi-task.
Proficient in Microsoft Office Suite including Powerpoint and Excel.
Education Required Qualifications Bachelor's degree in related area and / or equivalent experience / training.
10+ years of experience in traditional risk financing and or alternative risk financing.
Preferred Qualifications Associate in Captive Insurance Advanced degree preferred.
Licenses and Certifications Preferred Qualifications Professional certification preferred.
SPECIAL CONDITIONS This position is eligible for a hybrid work arrangement within the state of California.
The person hired will be required to reside within California and report to work on-site at UC's Office of the President (UCOP) located in Oakland, CA at least two days per week, subject to change.
SALARY AND BENEFITS Job Title Enterprise Risk Mgmt Analyst 5 Job Code 000326 Salary Grade Grade 26 Payscale: $151,000 - $177,000 commensurate with experience Full Salary Range: $117,000 - $226,000 The University of California, Office of the President, is required to provide a reasonable estimate of the compensation range for this role.
This range takes into account the wide range of factors that are considered in making compensation decisions including but not limited to experience, skills, knowledge, abilities, education, licensure and certifications, and other business and organizational needs.
It is not typical for an individual to be offered a salary at or near the top of the range for a position.
Salary offers are determined based on final candidate qualifications and experience.
The full salary range shows the growth potential for this position and the pay scale is the budgeted salary or hourly range that the University reasonably expects to pay for this position.
Benefits: For information on the comprehensive benefits package offered by the University visit: https://apptrkr.
com/get_redirect.
php?id=4462356&targetURL= SALARY AND BENEFITS Job Title Enterprise Risk Mgmt Analyst 5 Job Code 000326 Salary Grade Grade 26 Payscale: $151,000 - $177,000 commensurate with experience Full Salary Range: $117,000 - $226,000 The University of California, Office of the President, is required to provide a reasonable estimate of the compensation range for this role.
This range takes into account the wide range of factors that are considered in making compensation decisions including but not limited to experience, skills, knowledge, abilities, education, licensure and certifications, and other business and organizational needs.
It is not typical for an individual to be offered a salary at or near the top of the range for a position.
Salary offers are determined based on final candidate qualifications and experience.
The full salary range shows the growth potential for this position and the pay scale is the budgeted salary or hourly range that the University reasonably expects to pay for this position.
Benefits: For information on the comprehensive benefits package offered by the University visit: Benefits of Belonging ADDITIONAL INFORMATION HOW TO APPLY Please be prepared to attach a cover letter and resume with your application.
APPLICATION REVIEW DATE The first review date for this job is August 28, 2023.
The position will be open until filled.
CONDITIONS OF EMPLOYMENT Background Check Process: Successful completion of a background check is required for this critical position.
Background check process at UCOP Smoke Free Work Environment: The University of California, Office of the President, is smoke & tobacco-free as of January 1, 2014.
UC Smoke & Tobacco Free Policy August 2021 Update: The University of California has issued a policy requiring employees to be fully vaccinated against COVID -19 before physically accessing the University location or programs.
Upon hire into a UCOP position, you will be provided detailed instructions on how to comply with this policy including access to the COVID vaccination at no cost.
New hires to UCOP who work onsite or will come onsite for any activities at a UCOP or other UC location must comply with this policy within 8 weeks after their start date.
The policy allows for employees to request approval for an exception or deferral.
UC COVID-19 Vaccine Policy EEO STATEMENT The University of California, Office of the President, is an Equal Opportunity/Affirmative Action Employer.
All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, age or protected veteran status.
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