Corporate Insurance Manager

Our vision for the future is based on the idea that transforming financial lives starts by giving our people the freedom to transform their own. We have a flexible work environment, and fluid career paths. We not only encourage but celebrate internal mobility. We also recognize the importance of purpose, well-being, and work-life balance. Within Empower and our communities, we work hard to create a welcoming and inclusive environment, and our associates dedicate thousands of hours to volunteering for causes that matter most to them.

Chart your own path and grow your career while helping more customers achieve financial freedom. Empower Yourself.

Reporting to Empower’s Corporate Treasurer, the Corporate Insurance Manager, will serve as the owner and subject matter expert for the firm’s corporate insurance program, including managing all insurance policies, leading annual insurance renewals, directing claims processes, overseeing broker relationships, and liaising with Empower’s Legal and other teams. This role requires a unique blend of strategic thinking and hands-on execution to effectively enable and support risk management for Empower.  

What you will do:

• Own and lead the implementation and management of Empower’s suite of insurance programs (both global and local) across all lines of coverage, including property & casualty (property, GL, auto, work comp, cyber); professional/executive (D&O, E&O); and financial lines (bonds, fiduciary liability)
• Lead the design of the corporate insurance program, including scope of coverage, management and coordination of insurance brokers, and negotiation of policy contracts and wording with insurers
• Act as the central point of expertise for insurance queries at Empower
• Work collaboratively with brokers and internal constituents to evaluate insurance products, policy terms and conditions, including new placements or enhancements to existing coverage
• Cultivate strong relationships with insurance underwriters, brokers, and all external third parties to position Empower as a “preferred risk”
• Ensure all applications are completed accurately and submitted timely
• Review all quotes, binders and policies for accuracy; ready insurance policies with a keen ability to analyze fit for purpose
• Manage Empower’s claims activities including coordination with Legal for timely submission of claims, claims follow up, and claims reporting
• Manage all requests for certificates of insurance, and coordinate with brokers for distribution of certificates at renewals
• Respond to all requests for insurance language review in RFP and vendor/client contracts
• Coordinate with insurers on policy audits
• Create, monitor and manage the corporate insurance budget, including premium rebates due to Empower and collateral requirements, to ensure cost management
• Oversee the premium allocation for global programs
• Ensure all premiums invoices are paid/accrued and accounted for in accordance with internal policies
• Prepare and present Board and insurer renewal presentations, as needed, to provide education on insurance coverages or to assist in understanding the business to enable appropriate underwriting
• Maintain policies and procedures to manage and mitigate risk across the organization effectively
• Other projects as determined

What you will bring:

• Bachelor’s degree or equivalent directly-related work experience required
• 7-10+ years of directly-related professional experience in designing, securing and managing a complex, multi-jurisdiction insurance program gained either with an insurer, broker or multinational corporate; to include assessment of risks, administration of all aspects of a corporate insurance program, and coordination of claims
• Experience in selection, management and coordination of third-party brokers
• Demonstrated experience in advising and communicating with non-insurance professionals to effectively educate and inform colleagues on the structure coverage, including the importance of timely claims submissions
• Possess an understanding of the strategic added value of insurance and its place in a large company

What will set you apart:

• Prior experience in corporate insurance for a financial services company strongly preferred
• Insurance designations/certifications preferred (ARM, CRM, CIC, CPCU, etc.)
• Deep understanding of corporate insurance spanning P&C, Financial Lines, global placements, bond placements, etc.
• Strong understanding of risk management principles and insurance markets/industry trends
• Highly motivated, proactive, self-disciplined; works with minimal supervision
• Passionate insurance professional who enjoys reading insurance policie