Director, Risk Management Group

College of the Holy Cross
United States, Massachusetts, Worcester
1 College Street (Show on map)
Dec 12, 2024
Director, Risk Management Group College of the Holy Cross About the Organization: The Boston Consortium for Higher Education (TBC) is comprised of 23 institutions: Amherst College, Babson College, Bentley University, Berklee College of Music, Boston College, Boston University, Brandeis University, Brown University, Bryant University, College of the Holy Cross, Emerson College, Harvard University, Lasell University, Massachusetts Institute of Technology, Northeastern University, Olin College of Engineering, Rhode Island School of Design, Simmons University, Suffolk University, Tufts University, University of New England, Wellesley College, and Wheaton College. The mission of TBC is to empower its member institutions to thrive in a dynamic and challenging environment. Through innovative programs, initiatives, and thought leadership, TBC enables members to improve their financial and operational performance and the quality of their offerings. TBC strives to achieve its mission through shared services, with the Risk Management Group (RMG) being one of several shared programs utilized by TBC and non-TBC schools. TBC is seeking a Director for the Risk Management Group to lead and support its 13 current members in strengthening their strategic, enterprise-wide risk management capabilities. Position Summary: The Director, Risk Management Group (Director), provides strategic and operational leadership across risk management, enterprise risk management (ERM), and insurance programs for RMG member institutions. This includes overseeing the effective management of core insurance lines such as General Liability, Professional Liability, Property, Auto, Workers' Compensation, Student Foreign Travel, and Cyber. Reporting to the Executive Director of TBC, the Director will work closely with key stakeholders, including Risk Managers, CFOs, and the RMG Broker, to align insurance, risk management, and ERM strategies with institutional objectives, ensuring long-term planning and operational effectiveness in managing institutional risk. In addition, the Director will collaborate with edRISK, a sponsored cell captive insurance company, managing the edLIABILITY and edPROPERTY cells to support their growth and operational effectiveness. The Director will play a critical role in developing and implementing policies and procedures for risk management, strategic planning, and business continuity across member institutions. This includes fostering collaboration to promote proactive risk mitigation efforts and leveraging technology to enhance institutional resilience. The Director must effectively communicate complex risk management concepts to stakeholders, including senior management and boards of trustees, while ensuring compliance with relevant regulations such as Title IX and IT risks. Specific Responsibilities: Leadership and Collaboration Build and maintain strong relationships with internal and external stakeholders to promote collaboration and foster teamwork across member institutions. Foster professional development through mentorship/training programs for member institution staff. Enterprise Risk Management (ERM) Provide leadership in training and educating staff on risk-related matters, enhancing risk awareness and mitigation efforts through effective communication. Ensure compliance with regulatory requirements, including Title IX, IT security, and other higher education-specific risks. Promote proactive outreach and education to integrate risk management into the strategic decision-making process at all levels of the institution. Program and Broker Management Lead Request for Proposal (RFP) processes with TBC's Director of Procurement Initiatives to select insurance brokers; negotiate and administer contracts with the TBC-RMG members' broker. Set clear performance metrics for brokers and internal teams, ensuring accountability and continuous service improvement. Monitor the broker's performance in conducting annual reviews, negotiating favorable insurance terms, and implementing programs to ensure cost efficiency and sustainability. RMG MEMBER SUPPORT Provide guidance to TBC-RMG members on risk management practices, ensuring alignment with broader institutional goals and adding value through customized solutions. Collaborate with members to review contracts for indemnification and insurance requirements, ensuring compliance and effective risk transfer. Assist members in evaluating operations and exposures to determine appropriate insurance coverage and limits. Provide strategic oversight of the broker's claims management processes to ensure timely resolution and alignment with institutional needs. PROGRAM DEVELOPMENT AND INNOVATION Evaluate potential new insurance programs and explore opportunities for program growth in alignment with market trends and member institution needs. Provide incentives for loss control and develop premium allocation methodologies to equitably distribute insured program costs. Collect and analyze underwriting data; participate in insurer negotiations and present information to insurers on member claims and exposures. Alternative Risk Management (edRISK) Serve as the liaison between TBC-RMG and the edRISK captive insurance program. Provide guidance to edRISK cells (edPROPERTY, edLIABILITY, and future cells) on program structure, policy language, and claims processes. Identify potential members for edPROPERTY and edLIABILITY and implement a growth strategy to expand the captive insurance programs. Oversee data collection to develop annual funding models and ensure they support strategic Minimum Qualifications: Bachelor's degree in Risk Management, Business Admin, or related field. (Master's degree preferred) Minimum of 8 years of risk management experience, including risk assessments, insurance program management, and ERM implementation, ideally in a higher education setting. Professional certifications (e.g., ARM, CRM, CPCU) strongly preferred. Competencies: Proactive and Inclusive Leadership: Anticipates risk-related trends and delivers forward-looking guidance to member institutions. Actively promotes diversity, equity, inclusion, and belonging (DEIB) through leadership, mentorship, and team development. Business Acumen: Demonstrates a strong understanding of financial and operational risk management to enhance institutional resilience. Interpersonal Effectiveness and Project Management: Demonstrates strong relationship-building skills, with the ability to navigate complex interpersonal dynamics with professionalism and tact. Curiosity and Continuous Learning: Displays commitment to ongoing professional development and effectively manages complex interpersonal dynamics with diplomacy. The intent of this description is to illustrate the types of duties and responsibilities associated with this role and should not be interpreted as a comprehensive list of all requirements. TBC reserves the right to revise or adjust job duties, work hours, and responsibilities as necessary. The position is based in Massachusetts with a hybrid work schedule. How to apply: Please submit a thoughtful cover letter, including your salary requirements, along with your resume to careers@boston-consortium.org. TBC is an equal opportunity employer. TBC prohibits unlawful discrimination against any employee or applicant for employment based on race, color, religion, sex, gender identity, age, national origin, genetic characteristics, disability, status as a special disabled veteran or veteran, marital status, sexual orientation, sexual identity, or any other basis prohibited by law. To apply, please visit: https://tinyurl.com/22ttvvwp jeid-1d716e217d0fe34ba386aa40f0c5b2e1