Director of Global Insurance

Key Responsibilities

• Collaborate with senior management and other department leaders to identify insurance needs and ensure alignment with business objectives
• Design and implement the most effective global insurance strategy that aligns with the company’s risk management framework
• In partnership with internal stakeholders, identify existing and emerging insurable risks and recommend necessary insurance coverage.
• Oversee Fortive’s captive insurance operations and effectively utilize the captive as a risk management tool.
• Oversee the design, placement, and maintenance of corporate insurance programs, including but not limited to property, casualty, cyber, financial and specialty lines.
• Continuously review and assess insurance policies to ensure adequacy and relevance to the business needs
• Conduct regular risk assessments to identify potential exposures and develop strategies to mitigate risks
• Collaborate with various departments to review risk management practices and ensure effective implementation of policies
• Oversee the underwriting process to ensure timely and effective insurance renewals.
• Oversee the claims management process to ensure timely reporting and resolution of claims, as well as review carrier coverage determinations to ensure claim denials are reasonable and appropriate.
• Partner with brokers and carriers to optimize insurance solutions and address emerging risks.
• Serve as a point of contact for internal stakeholder and external partners, including brokers, insurance carriers, claim administrators, actuaries, captive managers, and captive insurance regulators.
• Ensure compliance with all local and international insurance regulations
• Prepare and present regular reports to senior management insurance program and its performance.
• Utilize risk management software, technological tools and other internal resources to create an efficient and effective data collection & storage process
• Foster a culture of continuous improvement and professional development within the team
• Oversee the development and career progression of direct reports
• Engage and manage outside vendors to support the function

Qualification & Requirements

• Bachelor’s Degree in finance, accounting, economics, risk management, or business administration is required. Master’s degree or professional certifications (e.g., Associate in Risk Management (ARM), Certified Risk Manager [CRM] or similar) preferred
• 15+ years of experience in risk management, captive insurance, compliance or related fields, preferably within a corporate insurance department at a large multinational company with a wholly-owned captive.
• Demonstrated ability to build relationships, manage internal and external teams, and positively influence outcomes and drive organizational change.
• Excellent negotiation, analytical, and financial management skills.
• Exceptional communication and interpersonal skills to interact effectively with internal and external stakeholders.
• Experience working with senior leadership on risk-related matters
• In-depth knowledge of risk assessment methodologies, financial risk management, and regulatory requirements
• Strong analytical, problem-solving, and critical thinking skills
• Knowledge of risk management software, tools, and methodologies
• Strong understanding of financial, operational, and regulatory risk domains
• Ability to work independently and manage multiple projects simultaneously
• High attention to detail and a proactive approach to identifying risks
• Ability to remain calm and effective under pressure
• Ethical, with a high level of integrity and professionalism

Benefits

No Information Available