Director of Insurance and Risk Management

Title: Director of Insurance & Risk Management

Location: IA-Le Mars,  United States/Chicago, IL, United States

Job type:  Hybrid
Time Type: Full Time
Job id: 2208928
Job Category: Finance

Job Description:

osition is responsible for developing, implementing, and overseeing the comprehensive insurance and risk management program for Wells. This leader works collaboratively with senior leaders, legal, finance, and operations teams to safeguard the company’s assets, ensure compliance, and protect against financial losses by managing insurance portfolios, self-insurance, and other mitigation programs.

ACCOUNTABILITIES:

1. Develop, implement, and oversee the organization’s insurance program including property, cyber, casualty, product liability, aviation, and professional coverages. 

2. Evaluate and recommend appropriate policies and limits, negotiating terms, premiums, and renewals with brokers and carriers to ensure effective and cost-effective coverage. 

3. Manage the relationships with insurance brokers, underwriters, consultants, and other external partners. 

4. Collaborate with internal stakeholders to analyze business operations, projects, and contracts to ensure adequate risk transfer and insurance requirements are met. 

5. Oversee claims management process, including reporting, investigating, documenting and resolving claims related to property, auto, transportation, employee, product, and general liability, working closely with legal counsel as needed. 

6. Lead, mentor, and develop the insurance and risk management team.

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Qualifications
EDUCATION:  Bachelor’s degree in Risk Management, Insurance, Business Administration, or related field.

EXPERIENCE:  Minimum of 10 years of insurance and leadership experience, preferably within the food, consumer goods, or manufacturing industries. Professional certifications are desirable.

SPECIFICATIONS:  Knowledge, Skills & Abilities

Knowledge:  Industry knowledge with a deep understanding of insurance products, risk management practice, and regulatory requirements. 

Leadership: Proven ability to lead teams and effectively manage direct reports. 

Skills:  Strong negotiation skills to influence stakeholders and secure optimal insurance terms. Problem solving and analytical skills with the ability to evaluate evolving and complex risk scenarios, making informed recommendations and resolving challenges. 

Abilities:  Collaboration and teamwork and the ability to work effectively with a diverse, cross-functional team including Wells, the global Ferrero organization, and multiple external partners.  Strong attention to detail in policy review, claims documentation, and compliance monitoring. Strong judgement and the commitment to integrity, confidentiality, and ethical business practices. 

Requires occasional travel

SUPERVISORY SCOPE:  Reports to CFO.  Has direct reports.

FINANCIAL SCOPE:  $50 Million