Global Risk and Insurance Manager
Company: Cummins Inc.
Location: Nashville
Posted on: June 25, 2022
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Job Description:
**Global Risk and Insurance Manager****Description**Manages the
corporate global insurance renewal process for property, casualty
and executive lines of insurance; negotiates and manages global
broker contracts; ensures regulatory compliance and appropriate
allocation of premium; participates in strategic risk mitigation
strategies development.Manages the corporate global insurance
renewal process for all property, casualty and executive lines of
insurance placements; ensures data collection is accurate and
comprehensive; responsible for transparent and up-to-date
communication of Cummins risk profile to insurance markets through
submission and underwriter meetings; negotiates optimal coverage
terms; makes recommendations for binding; responsible for timely
premium collection and escalation when needed; ensures payment
information is captured in RMIS and broker systems.Monitors and
coordinates global insurance broker network communications with
local broker offices and regional hub support offices to support
local insurance placements.Manages cross-charges of premiums to
local entities; leads communications with global Finance
Controllers regarding annual corporate premium charges.Supports
on-going insurance carrier relationship management efforts and
communications with worldwide insurance markets.Leads data-driven
new coverage assessment projects; develops and implements new lines
of cover.Negotiates and manages multiple global risk insurance
broker contracts; manages and owns the review and maintenance of
annual Statement of Work; manages and leads routine open items
reviews; defines and executes broker contract governance; leads
semi-annual reviews of broker contract performance.Liaises with
Regional and In-Country Risk Managers to review global broker
performance and coverage issues.Manages global insurance premium
budgets and annual operating plan.Leads merger and acquisition due
diligence efforts on behalf of Risk Insurance.Supports and
participates in the development of short and long-term global risk
insurance strategies for improving Cummins' risk management
profile; identifies global, strategic risk mitigation strategies
and assists with the implementation of those strategies; reviews
existing policies for gaps and improvement opportunities.Active
collaboration with captive manager during renewals and program
changes.Collaborates with claims team on claims trending and
fronting partner performance; adjusts insurance program or policy
terms as needed as a result of claims activity.Actively
participates in the risk insurance community associations;
participates in facilitation and coordination of student internship
mentoring and development program.Recruits, selects, develops,
manages, motivates, coaches and mentors team members; provides
guidance and direction on problems and issues; delegates work
assignments considering project demands, employee skills and
development needs.**Qualifications****Skills**Ensures
accountability - Holding self and others accountable to meet
commitments.Action oriented - Taking on new opportunities and tough
challenges with a sense of urgency, high energy, and
enthusiasm.Collaborates - Building partnerships and working
collaboratively with others to meet shared objectives.Manages
complexity - Making sense of complex, high quantity, and sometimes
contradictory information to effectively solve problems.Decision
quality - Making good and timely decisions that keep the
organization moving forward.Directs work - Providing direction,
delegating, and removing obstacles to get work done.Financial
acumen - Interpreting and applying understanding of key financial
indicators to make better business decisions.Resourcefulness -
Securing and deploying resources effectively and
efficiently.Insurance Renewal Management - Builds and maintains
relationships with stakeholders to build long-term partnerships and
support strategic risk transfer; administrates international
insurance programs leveraging Control Master Programs to meet
foreign placement tax compliance requirements; utilizes customary
policy provisions in different lines of insurance; analyzes
insurance market trends to provide updates to leadership.New
Insurance Placement - Identifies emerging risks through dialogue
with business partners; assesses new insurance line using
data-driven analysis to match cover to exposure; determines risk
mitigation strategy; recognizes when to leverage the captive
structure to obtain optimal coverage and retention levels; designs
and procures insurance coverage to match the exposure while
mitigating financial loss; recognizes duplication or gaps in cover
while maintaining compliance with contracts and/or local
regulations.Risk Transfer Strategy - Develops risk transfer
strategy and defines appropriate risk transfer structure to align
with risk appetite of the business and meet Corporate/ABO financial
objectives; assesses financial impact of different insurance
program structures or changes determining structures that provide
solutions to various stakeholders.Insurance Acumen - Leverages
insurance and claims processes including type of exposure data
required to support Risk Insurance placements and mitigation
efforts.**Education, Licenses, Certifications**College, university
or equivalent degree required;RIMS-CRMP preferred;Broker license/
producer license optional**Experience**Manage all lines of renewal
through renewal lifecycle stages including but not limited to
Property, Liability, executive lines, cargo, cyber and workers
compensationLead meetings with London, US and Bermuda market.
Ultimately responsible for the data and submission document
presented and shared with underwriters.Lead annual optimization
study (annually) and cross-BU/ functional worst case scenario
workshops (every 2 years) to validate Umbrella limits. Participate
in strategic discussions regarding limit changes.Lead ad hoc
special projects demonstrating strong project management
skills.Lead analysis and evaluation of new lines of liability cover
to meet business requirements.Participates in ad hoc M analysis and
integration activities as needed.Manage contract coverage questions
concerning liability lines of insurance.**Job** FINANCE**Primary
Location** United States-Tennessee-Nashville-US, TN, Nashville,
Filtration Headquarters**Job Type** Experienced - Exempt /
Office**Recruitment Job Type** Exempt - Experienced**Job Posting**
Mar 11, 2022, 11:41:40 AM**Unposting Date** Ongoing**Organization**
Cummins Filtration**Req ID:** 220001UV
Keywords: Cummins Inc., Nashville , Global Risk and Insurance Manager, Executive , Nashville, Tennessee
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