Director, Risk and Insurance Services, Office of Enterprise Risk Management and Insurance Services

Required Position

Full-Time Appointment

Responsibilities

The Director of Risk and Insurance reports directly to the Vice President of Finance and Administration and is responsible for the University’s Enterprise Risk Management (ERM) Program, including business continuity planning, risk mitigation strategies, and risk financing. This role provides leadership for the University’s risk and safety initiatives, directly supervising the Business Continuity and Risk Officer and overseeing the Internal Control Framework. The Director ensures that the risk management practices align with the University’s strategic objectives and regulatory requirements, while fostering a culture of risk awareness across all departments. The Director of Risk and Insurance reports to the Board of Governors (BOG) through the Audit and Risk Committee and is a subject matter expert to BOG and various committees such as the finance and property committee. In addition, responsibilities include being the main point of contact to external stakeholders such as the University’s primary insurers, adjusters/examiners, contracts and internal General Counsel and external counsel for issues related to risk and insurance claims.

Enterprise Risk Management (ERM):

• Lead the development and execution of the University’s ERM framework, focusing on the identification, mitigation, and monitoring of key risks;
• Manage and maintain the risk dashboard, with the emphasis on residual risks and their alignment with the University’s strategic direction;
• Conduct regular risk assessments and audits to ensure compliance with the University’s policies and external regulations.

Business Continuity:

• Develop, implement, and oversee the University’s Business Continuity Plan, ensuring operational resilience during emergencies and crises;
• Coordinate training and exercises with all departments to ensure preparedness and effective response to disruptions.

Insurance Portfolio and Claims Management:

• Manage the University’s insurance portfolio, ensuring coverage adequacy, policy renewals, and claims processing;
• Negotiate with insurance providers to secure optimal terms and policies for the University;
• Oversee the timely handling of all claims and risk transfer mechanisms;
• Responsible for the implementation of the University’s self-insurance fund for process and procedure documents to ensure financial compliance and departmental process;
• Work with external stakeholders to establish claims reporting, investigation and responsibilities to follow industry best practice for subrogation;
• Investigates, resolves, and responds to all property and liability claims liaise with the General Counsel to ensure a coordinated approach.

Oversight of Key Personnel:

• Provide leadership and direction to the Business Continuity and Risk Officer, ensuring effective risk identification and mitigation strategies; claims handling, general inquiries and support;
• Oversee the implementation and management of the Internal Control Framework to ensure compliance with internal policies and external regulatory requirements;
• Provide indirect guidance to the Manager of Occupational Health and Safety, when addressing and implementing corrective actions related to specific safety risks as appropriate.

Compliance and Reporting:

• Prepare and present regular reports to the Board of Governors through the Audit and Risk Committee, capturing the total impact of the ERM framework, business continuity plans, and insurance activities;
• Ensure compliance with all relevant university policies, as well as provincial and federal legislation;
• Work with external stakeholders such as brokers, claims adjusters and examiners to ensure timely and accurate reporting;
• Report and collaborate with the Office of General Counsel and Campus Safety on Security to ensure information on incidents and claims are maintained, tracked and followed up;
• Report to the Vice President of Finance and Administration on all issues and matters with the Office of Enterprise Risk Management and Insurance.

Risk Awareness and Training:

• Foster a culture of risk awareness across the University by working with all departments (President, Provost, Vice President’s, Senior Leadership, Faculties and Departments) to promote risk mitigation strategies and provide necessary training;
• Collaborate with the Occupational Health and Safety Manager, Campus Safety and Security, and the Office of General Counsel to address specific safety risks and implement corrective actions where needed;
• Update the Vice President of Finance and Administration and Senior Leadership on strategies to effectively manage the University’s risk and risk mitigation strategies.

Collaboration and Leadership:

• Serve as a strategic advisor to the University’s students, faculty and staff including senior leadership on risk management, business continuity, and insurance related issues;
• Work closely with internal and external stakeholders to continuously improve the university’s risk management practices and safeguard institutional resilience;
• Negotiate and communicate with the University’s insurers and brokers to ensure the most cost-effective risk financing program to ensure the protection of the University’s assets.

• Perform other duties as assigned.

Qualifications

• Bachelor’s degree or diploma in risk management, insurance, business administration, or a related field;
• Chartered Insurance Professional (CIP) or Fellowship Chartered Insurance Professional designation (FCIP) designation is required;
• Insurance Institute of Canada designations must be enrolled in or completed Canadian Risk Managers (CRM) designation;
• Seven (7) to ten (10) years of experience in enterprise risk management, business continuity planning, and insurance, preferably in higher education and with a claims adjusting background. In addition to experience in litigation processes for Canada. Also, proven experience conducting and facilitating risk assessments;
• Prioritizing relationships and fostering a trusted culture of risk management, Occupational Health and Safety, and Business Continuity;
• Ability to simplify complicated and complex matters and communicate the concept effectively to the University community. More specifically, ability to effectively communicate in writing and verbally;
• Strong understanding of risk mitigation strategies and safety regulations;
• Expert knowledge of claims process preference given with those that have handled commercial losses;
• Excellent leadership, analytical, communication and negotiation skills;
• Ability to manage multiple priorities and lead teams in a face-paced environment; and
• Ability to work fluently (verbal and written) in both official languages, French and English, is required.

The official University hours of operation shall be from 9:00 a.m. to 4:30 p.m., Monday through Friday, during, and including, the months from September to April, and from 8:30 a.m. to 4:00 p.m Monday through Friday during and including May to August., amounting to thirty-three and three-quarter (33.75) hours per week.

Laurentian University has adopted a formal Policy on Flexible Work Arrangements, which supports remote work plans based on operational considerations. At Laurentian University, we recognize that work-life balance is essential for both personal well-being and professional success. Our policy offers employees some flexibility to better balance personal needs while maintaining effective service delivery.

Apply Now

Applications will only be accepted through our online form.

Position No. A1465

Salary $98,037 - $112,367

SalaryUnder Review

Competition ends
Tuesday, November 5th 2024 at 4:30 pm