Associate Vice President, Risk Management

Job Summary

Reporting to the General Counsel, the Associate Vice President, Risk Management is responsible for managing and minimizing the legal and financial exposures to the University, its various colleges, and subsidiaries. This position promotes the preservation of the University assets by advising senior management, faculty, staff and students of risk management concerns, aggressively managing claims, procuring insurance for catastrophic and other significant exposures, overseeing the University's risk management and insurance programs, developing risk prevention initiatives and programs, advising and providing recommendations to senior management to ensure the continuity of operations.

This position will manage and coordinate the various risk management programs, including all its property, casualty lines of insurance, oversee its medical malpractice program, and analysis of the financial aspects of insurance coverage.

This is a Hybrid position with opportunity to work in person several times a month. Candidates must live within the Greater Philadelphia Area.

Essential Functions

• Evaluate and identify significant risks and exposures to the University to establish and coordinate policies, procedures, and programs to ensure loss management and control.
• Annually, and as needed, assess and update the University's risks and exposures and work with outside insurance brokers to determine the most appropriate way to address the University's needs to mitigate financial loss either through the procurement of insurance or other means.
• Work with the brokers on strategy for the annual insurance renewal, review of sample policy forms and insurance language, evaluating self-insured retention levels, quotes, etc. and obtaining all required underwriting information from the University community and its subsidiaries/affiliates.
• Directly responsible for the management and handling of cyber liability and fiduciary liability issues and claims.
• Collaborate with Office of the General Counsel (OGC) for the resolution of claims in litigation.
• Oversight responsibility of department functions including:
  
  
  
  • Reporting of all claims to TPA and/or insurance carriers.
  • Managing all claims under the property casualty and malpractice insurance programs.
  • Managing general liability, workers compensation, auto, and malpractice claims in litigation.
  • Coordinating with TPA and insurance carriers.
  • Assist OGC with claims coverage information and claims status.
  • Coordinating with OGC, carriers, and TPA on claims that OGC is directly managing internally and/or with outside counsel.
  • Contract review for insurance provisions and risk advice.
  
  
  
  
• Advise senior management of significant high-level claims and status.
• Report to senior leadership and the Audit Committee on University's insurance program, the insurance market, renewal expectations and key emerging risks.
• Advise on various committees as a member including but not limited to Executive Council, Compliance Committee, ERM, Board member of Drexel Global Initiatives.
• Develop and manage the Risk Management budget and allocations to auxiliaries and subsidiaries.
• Perform other duties as assigned

Required Qualifications

• Minimum of a Bachelor's degree or equivalent combination of education and work experience. (Please review the Equivalency Chart for additional information.)
• Minimum of 7 years of relevant experience, predominantly in risk management or equivalent business/legal experience.
• Strong communication (verbal and written), analytical, and interpersonal skills.
• Ability to work independently with minimal supervision.
• Ability to work evenings and weekends as needed.
• Experience working in a fast-paced environment, working on multiple projects with multiple clients.
• Experience with alternative insurance program structures.
• Experience with contract review regarding insurance provisions/requirements.

Preferred Qualifications

• Insurance or Risk Management related certifications or designations, ARM, CRM, etc.

Location

Hybrid: Remote/University City, Philadelphia PA

Additional Information

This position is classified as Exempt, grade P. Compensation for this grade ranges from $129,850 - $194,770 per year. Please note that the offered rate for this position typically aligns with the minimum to midrange of this grade, but it can vary based on the successful candidate's qualifications and experience, department budget, and an internal equity review.

We encourage you to explore Drexel's Professional Staff salary structure and Compensation Guidelines & Policies for more details on our compensation framework.

You can also find valuable information about our benefits in the Benefits Brochure.

Special Instructions to the Applicant

Please make sure you upload your CV/resume and cover letter when submitting your application.

Review of applicants will begin once a suitable candidate pool is identified.