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Job Description
Job: Manager of Risk Financing
Financial Management, Other Finance, Strategy role
Full Time Job
Posted on: May 30, 2020
Locations: USA (Virginia)
Job Description:
(primary responsibilities,
reporting structure,
career path...)
To reinforce the Corporate Risk Management philosophy to Mars, Incorporated's global business units with the purpose of 1) protecting human assets, 2) preventing loss to the corporation's physical assets, and 3) transferring the residual risk. To administer all corporate property, casualty and other insurance programs; as well as, maintaining day to day relationships with Mars' global insurance broker(s).

Accountable for day to day interaction and issues between Mars and its global insurance brokers and insurers. Serve as primary contact for various risk management elements such as program summaries, premium allocations, invoicing and claim support. Support the Director of External Risk Financing in managing the Risk Management function for the Mars International Business units, while implementing the strategies, goals, objectives and projects established within Corporate Risk Management.

Manage and support the Director of External Risk Financing with Mars’ International Employee Benefits risk financing programs in 70+ countries that make up approximately $50M in annual premium spend. Ensuring local and regional Benefits, P&O and Rewards are familiar with the risk financing programs that support their local benefits commitments.

Identify exposure trends, processes and recommend digital solutions to build more efficient ways of working for all functions within Corporate Risk Management.

Responsible for the consolidation of the insurance policy renewal data/value collection process for all global business units working with the unit S&F Heads or their designees. Manage the communication process with all global units outlining the collections process, its meaning and address all inquiries and inconsistencies. Responsible for gathering and analyzing exposure and underwriting data. Ensure accuracy of data, identify and explain variances from prior data and complete insurance applications to present to the brokers/insurers in order to negotiate renewal terms and conditions.

Support the Director of External Risk Financing and the Director of Captive Risk Financing in establishing the Corporate Risk Financing budget per the annual external insurance and Captive renewals.

Responsible for managing Corporate Risk Management transactions including the payment of premiums, consultant fees and allocations to the business units. Primary responsibility for invoice payments and purchase order requisition as well as communication of the premium allocation methods to the business units.

Manage the review of third-party contracts with Mars’ Commercial and Legal departments to provide expert advice on Indemnification agreements, Hold Harmless, Insurance, Limitation of Liability and Consequential Loss clauses where requests for exemptions from Mars’ standardized contract language to ensure the transfer of risk to the third-party based on their statement of work. Support both the Director of External Risk Financing and Director of Captive Risk Financing in collaboration with legal counsel in developing and implementing standards for third-party contractors; as well as, providing training and development specific to Commercial Associates per their negotiation of each contract.

Accountable for maintaining and improving the Risk Management Portal link on MyMars, including the Mars IS team in the creation and development of the portal and responsible for managing required updates as needed.

Establish and lead the strategies to manage the corporate shared costs by sharing premium and retentions across business units reflecting their exposure to loss and ensuring that the units understand the process.

Oversee the Insurance Certificate process with brokers to ensure vendors and customers receive certificates timely and accurately while minimizing Mars’ liability commitments. Manage the Auto ID card process with the broker to ensure all Associates receive their renewal auto ID cards timely prior to the expiring program expiration. Responsible for communicating the process for certificate requests with Mars Associates, vendors, brokers and insurers for all global programs. Process to include detailed review of request and contractual provisions to ensure the certificates of insurance are issued in accordance with Mars’ Risk Management requirements.

Manage the insurance carrier(s) in premium audits for all North American casualty policies for all applicable entities.

Job Specifications/Qualifications

Education & Professional Qualifications

Bachelor’s degree preferably with a Risk Management or Business (Finance) major. An MBA in Risk Management or Business (Finance) is a plus.

Excellent verbal and written communication skills, analytical skills, and the ability to work independently (initiative a must). Strong decision making and organizational skills, including presentation and PC skills (Word/Excel/PowerPoint/OneNote/OneDrive, etc.); skills with a RMIS system a plus.

Proven ability to coordinate and manage complex cross-segment projects given multiple competing priorities or perspectives.

Willingness to business travel a minimum of 25% of the time (both domestically and internationally) and do required administrative tasks.

Knowledge / Experience

Five (+) years with increasing responsibility in a progressive Risk Management department of a major multi-national company, brokerage firm or insurance company. Experience should include (either directly or as part of a team) negotiating insurance program placements, including coverage structure, premium allocations and policy wording. Work experience, which involved frequently visiting local plants/sites versus working strictly in a corporate headquarters environment is preferred.

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