Location
Camden, NJ | United States
Job description
Love. It's what makes Subaru, Subaru®. And as a leading auto brand in the US, we strive to be More Than a Car Company®. Subaru believes in being a positive force in the communities in which we live and work, not just with donations but with actions that set an example for others to follow. That's what we call our Subaru Love Promise®.
Summary:
This position manages all aspects of Subaru's casualty (includes Workers Compensation, Auto, General Liability and Corporate Umbrella) insurance program, Subaru Service Loaner Program (SSLP) and Just Drive Rental/Subscription, and Life Insurance and Medical Stop Loss. Leads the claims team including career development, coaching of employees, implementing process improvements, and identifying solutions to challenges. Maintains responsibility for the following aspects of Subaru's captive insurance company: annual AGM and Audit, establishes underwriting guidelines and chair underwriting committee, monitors code of conduct, determines claims protocols and supervise claims and expense payments, determines adequate LOC levels, monitors bank accounts and investment transactions, and review of all insurance policies and premiums to determine adequacy.
Primary Responsibilities:
- Leads design/marketing and strategy for SOA's Casualty Insurance program which includes Workers Compensation, Auto, General Liability and Corporate Umbrella). Acts as subject matter expert and advises internal teams on potential risks/claims relative to the above-mentioned insurance programs. Negotiates and renews all insurance policies with broker and prepares underwriting submissions for same. Determines marketing/coverage priorities, premium goals, retention levels, aggregates, limits of insurance and captive involvement information, etc. Review of proposals and recommend selection to Director of Risk Management and implement selected program.
- Manages team of claims professionals, including contractors and Risk Management Vehicle Administrator. Manages the development of claims staff including annual performance evaluations, ongoing coaching/mentoring, and career development. Fosters collaboration among teams and across departments. Sets strategy for claims administration/recoveries, makes process improvement recommendations, and ensures adherence to claims-handling best practices guidelines. Spots operational inefficiencies and identifies solutions to challenges. Performs oversight of auto physical Damage (APD), auto liability, general liability (GL) and workers compensation claims, and conducts periodic audits as needed. Monitors performance of Third-Party Administrators.
- Maintains responsibility for design, maintenance, and renewal of insurance components of SOA Retailer programs, including Subaru Service Loaner Program, Just Drive Rental and Subscription. Serves as subject matter expert to Subaru Financial Group and Subaru retailers regarding Rental/Subscription insurance issues and contributes to program profitability. Manages insurance for loaner car programs at dealerships including responsibility for broker relationships, including design and placement of polices with outside insurance companies and captive. Collaborates with Sr. Risk Analyst to develop and implement claims strategy including subrogation. Plans, schedules, and participates on behalf of the SSLP Insurance program at Subaru national meetings.
- Manges all aspects of Pleiades, Subaru's captive insurance company, including Annual General Meeting, annual audit, Code of Conduct, Underwriting Guidelines, Policy execution and payments. Monitors all financial statements for Pleiades, including supporting schedules, branch activity, and governmental filings. Supervises Investment Manager and Custodian to assure all monthly investments and changes in Pleiades Investment policy are accurate. Attends all Pleiades Investment Committee meetings. Manages Life Insurance and Stop Loss Reinsurance to Pleiades.
Additional Responsibilities: - Supervises Maintenance of Insurance Policy Database that tracks all insurance binders, premium invoices and policies by type, limits and deductibles, and due dates, insuring no time lapses in coverage including policy audits.
- Provides ongoing risk management expertise and support to departments and employees.
- Monitors all lawsuits including Class action lawsuits with Legal department. Reports and discusses with insurance company and broker partners in the event of insurance coverage available. Reviews and responds to insurance company correspondence including but not limited to Reservation of Rights letters and denials of coverage.
Required Skills & Abilities: - BA/BS in Risk Management or related business area. MBA or Law Degree preferred.
- Demonstrated experience managing a team.
- Strong understanding of accounting and cash management principles and investments.
- Associate in Risk Management (ARM) insurance designation required. Associate in Claims and/or Enterprise Risk Management insurance designation preferred.
- Experience with and good understanding of Captive operations and captive laws. ACI designation strongly preferred.
- Claims management experience.
- Strong project and time management skills.
- Experience leading cross-functional teams and projects.
- Licensed insurance industry professional.
- Strategic thinker with ability to see the big picture and understand risks and opportunities.
- Ability to work with minimal supervision, exercise good judgment, solve problems, think critically, multi-task, and prioritize work in a changeable environment.
- Advanced computer and data analysis skills. Proficient in Microsoft Office Suite products.
- Strong negotiation and management skills.
- Strong written and verbal communication skills including presentation skills.
- Previous roles in risk management and/or insurance brokerage required.
- Competency in Microsoft Office Suite (Word, Excel, and Outlook) and ability to work with report writing software such as Business Objects.
Education/Experience Requirements: BA/BS with 8 to 10 years of relevant experience
Work Environment - Hybrid Role: Remote work 2 days per week (After 90 Days Onboarding)
- Required Travel: 10%
Certification / License Requirements - Must possess a valid driver's license and maintain a driving record that is acceptable or probationary under the SOA Driving Record Evaluation Criteria Policy. Must be approved as an "Authorized Driver" by Risk Mgmt. to operate company vehicle prior to vehicle operation.
- Licensed insurance industry professional.
Compensation: The recruiting base salary range for this full-time position is $111500 - $130000 / year. Within the range, individual pay is determined by factors, including job-related skills, experience, and relevant education or training. In addition to competitive salary, Subaru offers an amazing benefits package that includes:
- Medical, Dental, Vision Plans
- Pension, Profit Sharing, and 401K Match Offerings
- 15 Vacation days, 9 Company Holidays, 5 Floating Holidays, and 5 Sick days
- Tuition Reimbursement Program
- Vehicle Discount Programs
- See our Careers landing page for additional information about our compensation and benefit programs.
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