Director of Risk Strategy - Division of Finance (Two-Year Term Position)

Director of Risk Strategy - Division of Finance (Two-Year Term Position)

University Overview

The University of Pennsylvania, the largest private employer in Philadelphia, is a world-renowned leader in education, research, and innovation. This historic, Ivy League school consistently ranks among the top 10 universities in the annual U.S. News & World Report survey. Penn has 12 highly-regarded schools that provide opportunities for undergraduate, graduate and continuing education, all influenced by Penn's distinctive interdisciplinary approach to scholarship and learning. As an employer Penn has been ranked nationally on many occasions with the most recent award from Forbes who named Penn one of America's Best Large Employers in 2023.

Penn offers a unique working environment within the city of Philadelphia. The University is situated on a beautiful urban campus, with easy access to a range of educational, cultural, and recreational activities. With its historical significance and landmarks, lively cultural offerings, and wide variety of atmospheres, Philadelphia is the perfect place to call home for work and play.

The University offers a competitive benefits package that includes excellent healthcare and tuition benefits for employees and their families, generous retirement benefits, a wide variety of professional development opportunities, supportive work and family benefits, a wealth of health and wellness programs and resources, and much more.

Posted Job Title
Director of Risk Strategy - Division of Finance (Two-Year Term Position)

Job Profile Title
Executive Director B, Business and Finance

Job Description Summary
The Office of Risk Management and Insurance is responsible for coordinating the risk management and liability insurance activities of the University and the Health System. The Office identifies and evaluates areas of potential exposure to risk and implements measures to reduce the risk of loss University and Health System-wide.

The Director of Risk Strategy will develop comprehensive risk financing strategies for the University of Pennsylvania (Penn). This two-year term role will advise on and oversee specific aspects of insurance matters, with a focus on optimizing cost-effectiveness and enhancing protection against traditional, emerging, and evolving risks.

The role provides strategic leadership for and partners closely with the Associate Vice President and senior leaders to develop long-term strategic plans for expanded utilization of Penn's wholly owned captive insurance company and implementing integrated strategies.

Job Description

Key Responsibilities:

• Evaluate and strategically redesign Penn's current risk financing program, and alternative risk transfer methods.
• Develop and implement innovative risk financing solutions, utilizing the captive, accessing reinsurance markets, and exploring capital market options.
• Collaborate with various departments to identify, assess, and mitigate risks across the university and health system.
• Continuously monitor and adapt risk financing strategies to align with Penn's evolving needs and market conditions.
• Conduct financial and operational analysis to support planning efforts that span a wide range of initiatives.
• Other duties and responsibilities as assigned.

Qualifications:

• Master of Science, Master of Arts and Over 10 years of experience or equivalent combination of education and experience is required.
• Extensive experience in finance, risk management, and insurance, with a focus on strategic decision making.
• In-depth knowledge of various risk financing methods, including self-insurance, captives, and reinsurance.
• Proven analytical and problem-solving skills and demonstrated experience working with senior leadership and developing long-term strategy.
• Excellent communication and negotiation abilities. Experience working under tight deadlines and utilizing various systems/reports/data to develop long-term strategy and solutions.
• Proven track record in developing and implementing successful risk financing strategies.
• Proven experience, strategic mindset and skills in leading innovative approaches to optimize Penn's risk financing, ensuring long-term financial protection and operational resilience.

Job Location - City, State
Philadelphia, Pennsylvania

Department / School
Division of Finance

Pay Range
$129,695.00 - $200,000.00 Annual Rate
Salary offers are made based on the candidate's qualifications, experience, skills, and education as they directly relate to the requirements of the position, and in alignment with salary ranges based on external market data for the job's level. Internal organization and peer data at Penn are also considered.

Equal Opportunity Statement

The University of Pennsylvania is an equal opportunity employer. Candidates are considered for employment without regard to race, color, sex, sexual orientation, religion, creed, national origin (including shared ancestry or ethnic characteristics), citizenship status, age, disability, veteran status or any class protected under applicable federal, state or local law.

Special Requirements
Background checks may be required after a conditional job offer is made. Consideration of the background check will be tailored to the requirements of the job.

University Benefits

• Health, Life, and Flexible Spending Accounts: Penn offers comprehensive medical, prescription, behavioral health, dental, vision, and life insurance benefits to protect you and your family's health and welfare. You can also use flexible spending accounts to pay for eligible health care and dependent care expenses with pre-tax dollars.
• Tuition: Take advantage of Penn's exceptional tuition benefits. You, your spouse, and your dependent children can get tuition assistance here at Penn. Your dependent children are also eligible for tuition assistance at other institutions.
• Retirement: Penn offers generous retirement plans to help you save for your future. Penn's Basic, Matching, and Supplemental retirement plans allow you to save for retirement on a pre-tax or Roth basis. Choose from a wide variety of investment options through TIAA and Vanguard.
• Time Away from Work: Penn provides you with a substantial amount of time away from work during the course of the year. This allows you to relax, take vacations, attend to personal affairs, recover from illness or injury, spend time with family-whatever your personal needs may be.
• Long-Term Care Insurance: In partnership with Genworth Financial, Penn offers faculty and staff (and your eligible family members) long-term care insurance to help you cover some of the costs of long-term care services received at home, in the community or in a nursing facility. If you apply when you're newly hired, you won't have to provide proof of good health or be subject to underwriting requirements. Eligible family members must always provide proof of good health and are subject to underwriting.
• Wellness and Work-life Resources: Penn is committed to supporting our faculty and staff as they balance the competing demands of work and personal life. That's why we offer a wide variety of programs and resources to help you care for your health, your family, and your work-life balance.
• Professional and Personal Development: Penn provides an array of resources to help you advance yourself personally and professionally.
• University Resources: As a member of the Penn community, you have access to a wide range of University resources as well as cultural and recreational activities. Take advantage of the University's libraries and athletic facilities, or visit our arboretum and art galleries. There's always something going on at Penn, whether it's a new exhibit at the Penn Museum, the latest music or theater presentation at the Annenberg Center, or the Penn Relays at Franklin Field to name just a few examples. As a member of the Penn community, you're right in the middle of the excitement-and you and your family can enjoy many of these activities for free.
• Discounts and Special Services: From arts and entertainment to transportation and mortgages, you'll find great deals for University faculty and staff. Not only do Penn arts and cultural centers and museums offer free and discounted admission and memberships to faculty and staff. You can also enjoy substantial savings on other goods and services such as new cars from Ford and General Motors, cellular phone service plans, movie tickets, and admission to theme parks.
• Flexible Work Hours: Flexible work options offer creative approaches for completing work while promoting balance between work and personal commitments. These approaches involve use of non-traditional work hours, locations, and/or job structures.
• Penn Home Ownership Services: Penn offers a forgivable loan for eligible employees interested in buying a home or currently residing in West Philadelphia, which can be used for closing costs or home improvements.
• Adoption Assistance: Penn will reimburse eligible employees on qualified expenses in connection with the legal adoption of an eligible child, such as travel or court fees, for up to two adoptions in your household.

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To learn more, please visit: https://www.hr.upenn.edu/PennHR/benefits-pay


Equal Employment Opportunity Statement

The University of Pennsylvania is an equal opportunity employer. Candidates are considered for employment without regard to race, color, sex, sexual orientation, religion, creed, national origin (including shared ancestry or ethnic characteristics), citizenship status, age, disability, veteran status or any class protected under applicable federal, state, or local law.


To apply, visit https://wd1.myworkdaysite.com/en-US/recruiting/upenn/careers-at-penn/job/FMC-Tower/Director-of-Risk-Strategy---Division-of-Finance_JR00114664









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