Risk and Insurance Specialist
City : Hamilton
Category : Full-Time Admin
Industry : Education
Employer : Mohawk College
Status: Full Time
Hours: Monday – Friday, 35 hours/week
Home Campus: Fennell (hybrid work arrangements available)
Rate of Pay: Payband 10 ($85,528 - $106,911 per year)
Posting Date: April 10th, 2024
Closing Date: April 24th, 2024 at 7:00 pm EST
We believe the rich diversity among our students and the communities we serve should be reflected within our workforce. As educators, we believe it is important to act and show leadership in advancing the principles of reconciliation, equity, diversity, and inclusion in our community.
Job Summary
As the Risk & Insurance Specialist and subject matter expert, reporting to the Manager, Risk, Legal and Governance Services, your role at Mohawk College will be multifaceted, encompassing both risk management/risk assessment and insurance responsibilities.
The role will involve supporting the management and development of the enterprise risk management program at Mohawk College through the facilitation of risk identification and assessments at all levels of the organization. The Risk & Insurance Specialist will play an active role in producing detailed risk reports for management and take part in continuous improvement of the corporate risk management function. In addition, the incumbent will work with key business functions, faculty, and departments as a consultant, to review and improve internal controls and processes to manage various risks and exposures.
In addition to the responsibilities in risk management, the incumbent will also be responsible for overseeing insurance-related activities. This will involve evaluating the college's insurance needs, working closely with insurance brokers, and ensuring that appropriate insurance coverage is in place to protect the institution from potential risks and liabilities.
The incumbent will bring expertise in people, process, and technology in ensuring that Mohawk College’s risk management capability is effective in managing the risks it faces, to help obtain Mohawk College’s strategic objectives as an institution.
What you’ll be doing:
Insurance
Reporting to and under the guidance of the Manager, Risk, Legal and Governance Services, this role manages the Insurance portfolio for College by:
- Acting as main insurance contact for College community and insurance contacts;
- Reviewing College contracts, rental agreements, and others forms of agreements for insurance provisions and risk implications on monetary and non-monetary contracts and initiatives;
- Liaising between insurance brokers and College employees to answer questions, resolving disputes and addressing insurance and risk management inquiries, including claims;
- Proactively identifying potential insurance issues and/or potential risks, and then working with the Manager, Risk, Legal and Governance Services and the College community to mitigate/manage these risks and trouble shoot concerns that arise across the College.
- Keeping the Manager, Risk, Legal and Governance Services up to date on insurance and risk matters related to the college
- Working with College community to complete insurance applications.
- Obtaining certificates of insurance for College contracts and reviewing annually total suite of certificates of insurance provided by the college;
- Reviewing third party certificates of insurance for completeness and validity;
- Coordinating the College claims process and facilitating communication with insurance brokers;
- Maintaining the relationship and liaising with the College sector Joint Insurance Consortium;
- Coordinating the insurance annual renewal process for both the College, Mohawk College Foundation and any other applicable entities;
- Remitting information to insurers as required;
- Stay up to date with all College insurance policies, their implications and reporting requirements;
- Monitoring and updating claims status and information; and managing the electronic insurance database and claims information system;
- Conducting gap analysis to identify areas where insurance coverage may be insufficient or lacking.
- Liaise with Finance to track and monitor insurance related costs and budget;
- Manage authorized driver process to ensure compliance with transportation-related insurance requirements.
- Staying apprised of insurance trends and developments that may impact the College.
Enterprise Risk Management
Support the Manager, Risk, Legal and Governance Services ERM work by overseeing the development, execution and continued improvement of a comprehensive college-wide enterprise risk management framework by:
- Creating and maintaining a risk inventory with risk sources, risk examples by category, controls, mitigation strategies and accountabilities.
- Continuously updates the risk inventory to ensure consistency and completeness of material risk sources;
- Providing expert consultative advice on risk identification and assessments, including best practices for the development and implementation of risk mitigation strategies
- Analysing risk reports/assessments from divisional areas and staying updated with external developments to identify significant issues and trends, and emerging risks.
- Creating and maintaining risk management metrics
- Preparing periodic risk reports for senior leadership, Board, and various committees
- Working with the Manager, Risk, Legal and Governance Services, College’s internal auditor to identify College risks and sharing information to enhance the risk management process.
- Providing administrative support to the Enterprise Risk Management Committee, including, meeting minutes and facilitation
- Planning and facilitating risk workshops and risk reviews
- Developing policies, procedures and functional guides;
- Guide departments through appropriate steps of qualitative and quantitative risk assessment and preparing risk treatment plans
- Communicating, educating, supporting, and training risk owners in risk management processes and procedures
- Contributing to fostering a knowledge sharing culture by participating in the risk knowledge networks and collaborative forums
- Assisting in the development and management of the Enterprise Risk Management (ERM) program and enhancing risk management tools and processes
- Leveraging technology into ERM processes to maximize efficiency and stakeholder engagement
- Reviewing occasional agreements, partnerships, and strategic opportunities to recommend risk exposures and opportunities for management
- Providing information and analysis to improve the college’s ability to make short- and long-term strategic decisions
- Identifying and reviewing control gaps, and support management with remediation plans
- Working with external auditors, as required
Travel Risk Management and Contract Management
- Act as main point of contact for the management of the College-wide international travel technological platform, including: product, service and account management with external provider (including documentation, protocols and workflows), onboarding and training coordination of College employees, volunteers and students, coordination between platform and relevant College insurers related to travel claims and direct billing agreements; resolution of any user issues
- Develop and maintain a College-wide Travel Risk Policy and associated processes and procedures;
- Provide training to relevant College stakeholders on travel risk policies, processes, procedures
- Assist with developing and obtaining risk assessments and recommendations for college-related travel destinations, considering safety levels, political stability, health risks, and potential hazards as required
- Collaborate with relevant College stakeholder and departments to develop and implement risk management and mitigation measures for employees and students travelling abroad and inbound travellers as required.
- Monitor global events and travel conditions as required and provide guidance and assistance to College management and travellers as required.
- Conduct risk assessments of contract proposals to identify potential risks and exposures associated with goods, services, and projects.
- Review and ensure contractual insurance requirements are met to minimize the college's exposure to risk.
- Assist College employees in resolving contractual disputes related to risk and insurance, providing risk analysis and support during resolution.
- Conduct periodic contract audits to assess compliance with risk management policies and insurance requirements.
Other duties as assigned.
What you’ll bring to the role:
- Three-year degree/diploma in Risk Management, Business Administration, Legal Studies, disaster management, insurance or related field.
- Certified Risk Management Professional or Project Management designation considered an asset (e.g. CIP, CRM, RIBO, PMI-RMP, GARP, PMP)
- Minimum 5 Years relevant work experience relating to insurance and risk mitigation.
- Prior experience in a post-secondary environment or public asset considered an asset.
- Familiarity with insurance policies and experience managing insurance portfolio.
- Proven experience in contract risk management or procurement, preferably in an educational setting.
- Solid understanding of contract law and risk assessment methodologies.
- Excellent negotiation, communication, risk assessment and analytical skills.
- Detail-oriented with the ability to evaluate complex contract documents for risk implications.
- Advanced knowledge in the application of International Risk Management Standards, i.e. ISO 31000, ISO 31010, IEC 62198, PRAM and PMI.
- Ability to establish and maintain relationships with internal and external clients; establish trust, credibility and respect.
- Skilled in the production of reports and presentations.
- Strong consulting, customer service and organizational skills
- Exceptional organizational skills, ability to prioritize, and work independently
- Comfortable presenting in front of large groups, executive level.
- Ability to meet tight deadlines.
- Familiarity with insurance policies and managing insurance risks.
- Familiarity with contract management software and risk management tools is a plus.
- Advanced knowledge of risk analysis methods, including bow-tie analysis, or enterprise risk management software is an asset.
- Proficiency in Microsoft applications.
- Working experience with modern risk management information systems and software. (i.e. Predict!, CURA, ARM, etc)
- Demonstrated commitment and understanding of human rights, equity, diversity, inclusion, and accessibility.
- The ability to communicate and work effectively with diverse students, employees, and communities.
What we offer:
- Progressive vacation plan starting with 22 vacation days per year plus holiday closure.
- Defined Benefit pension plan (CAAT) with contributions matched by Mohawk College.
- 93% top up of maternity and parental leave pay for 52 weeks.
- Annual employee performance incentive program.
- Comprehensive benefits package including health, dental, vision, paramedical services (massage therapy, acupuncture, naturopath, psychotherapy and psychology), short-term and long-term disability.
- Ability to take courses at a reduced rate for employees and dependents.
To find out more about working at Mohawk College, please visit https://www.mohawkcollege.ca/about-mohawk/careers-at-mohawk
We are committed to reconciliation and nurturing an inclusive, diverse, equitable, and accessible (IDEA) environment for everyone who learns and works at Mohawk College. We welcome applications from racialized persons, women, Indigenous people, persons with disabilities, 2SLGBTQIA+ persons, and others who may contribute to the further diversification of ideas.
The College is committed to fostering inclusive ad barrier-free recruitment and selection processes. If you require accommodation during any stage of the recruitment process, please contact Human Resources.
To learn more about Mohawk College’s commitments, please visit the Mohawk College strategic plan webpage: https://www.strategicplan.mohawkcollege.ca/