Corporate Insurance Manager

March 11

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Empower

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Empower is a financial services company that provides personalized investment and advice solutions to help individuals achieve financial freedom throughout their lives. It offers a range of wealth management services including private client investment management, socially responsible investing, retirement planning, and personal strategy services tailored for various investment needs. With innovative tools such as the Empower Personal Dashboard, clients can consolidate their financial information, plan for retirement, and make informed money decisions.

10,000+ employees

💸 Finance

💳 Fintech

📋 Description

• Own and lead the implementation and management of Empower’s suite of insurance programs (both global and local) across all lines of coverage, including property & casualty (property, GL, auto, work comp, cyber); professional/executive (D&O, E&O); and financial lines (bonds, fiduciary liability) • Lead the design of the corporate insurance program, including scope of coverage, management and coordination of insurance brokers, and negotiation of policy contracts and wording with insurers • Act as the central point of expertise for insurance queries at Empower • Work collaboratively with brokers and internal constituents to evaluate insurance products, policy terms and conditions, including new placements or enhancements to existing coverage • Cultivate strong relationships with insurance underwriters, brokers, and all external third parties to position Empower as a “preferred risk” • Ensure all applications are completed accurately and submitted timely • Review all quotes, binders and policies for accuracy; ready insurance policies with a keen ability to analyze fit for purpose • Manage Empower’s claims activities including coordination with Legal for timely submission of claims, claims follow up, and claims reporting • Manage all requests for certificates of insurance, and coordinate with brokers for distribution of certificates at renewals • Respond to all requests for insurance language review in RFP and vendor/client contracts • Coordinate with insurers on policy audits • Create, monitor and manage the corporate insurance budget, including premium rebates due to Empower and collateral requirements, to ensure cost management • Oversee the premium allocation for global programs • Ensure all premiums invoices are paid/accrued and accounted for in accordance with internal policies • Prepare and present Board and insurer renewal presentations, as needed, to provide education on insurance coverages or to assist in understanding the business to enable appropriate underwriting • Maintain policies and procedures to manage and mitigate risk across the organization effectively • Other projects as determined

🎯 Requirements

• Bachelor’s degree or equivalent directly-related work experience required • 7-10+ years of directly-related professional experience in designing, securing and managing a complex, multi-jurisdiction insurance program gained either with an insurer, broker or multinational corporate; to include assessment of risks, administration of all aspects of a corporate insurance program, and coordination of claims • Experience in selection, management and coordination of third-party brokers • Demonstrated experience in advising and communicating with non-insurance professionals to effectively educate and inform colleagues on the structure coverage, including the importance of timely claims submissions • Possess an understanding of the strategic added value of insurance and its place in a large company

🏖️ Benefits

• Medical, dental, vision and life insurance • Retirement savings – 401(k) plan with generous company matching contributions (up to 6%), financial advisory services, potential company discretionary contribution, and a broad investment lineup • Tuition reimbursement up to $5,250/year • Business-casual environment that includes the option to wear jeans • Generous paid time off upon hire – including a paid time off program plus ten paid company holidays and three floating holidays each calendar year • Paid volunteer time — 16 hours per calendar year • Leave of absence programs – including paid parental leave, paid short- and long-term disability, and Family and Medical Leave (FMLA) • Business Resource Groups (BRGs) - internal networks that rally around common interest, experiences and identities such as race, ethnicity, gender, ability, military status and sexual orientation.