Cummins Inc. Regional Risk Manager - AME Region in Johannesburg, South Africa
Regional Risk Manager - AME Region
Manages the corporate global insurance renewal process for all property and casualty insurance placements; negotiates and manages global risk broker contracts; ensures that all accounting and cross-charges for placements are consistently and accurately entered.
Manages the corporate global insurance renewal process for all property and casualty insurance placements; compiles loss file, risk profile, and applications; markets global Cummins property and casualty insurance placements; analyzes quotes and proposals and makes recommendations for binding instructions; prepares and manages premium payments; ensures that all payment information is captured in risk systems.
Manages global insurance premium budgets and annual operating plan; manages cross-charges of premiums for all Cummins offices; leads communications with global controllers regarding annual corporate premium charges and local fronting insurance policy premium payment coordination; liaises with global in-country risk manager on a monthly basis to review global broker/local broker issues, claims reporting, and loss mitigation; liaises with Enterprise Risk Management and coordinates vendor support of their efforts.
Negotiates and manages multi-year global risk insurance broker contracts; manages and owns the review and maintenance of annual Statements of Work; manages the annual statement of work/purchase order and payment process; manages and leads routine open items and issues logs and monthly and annual reviews of insurance brokers’ contract fulfillment.
Monitors and coordinates global insurance broker network communications with local broker offices and regional hub-support offices to support all local Cummins offices requiring local insurance placements; supports on-going insurance carrier relationship management efforts and communications with worldwide insurance markets; reports downgrades below corporate minimum standards of an insurer’s financial strength/credit rating to leadership.
Supports and participates in the development of short and long-term global risk insurance strategies for improving Cummins’ risk management profile; identifies global, strategic risk mitigation strategies and assist with the implementation of those strategies; reviews existing policies for gaps and improvement opportunities; manages the Cummins Risk Management Information System Risk Console to support insurance purchasing decisions.
Actively participates in the risk insurance community associations; participates in facilitation and coordination of student internship mentoring and development program between Cummins and representative from Indiana universities supporting risk insurance curriculums.
Recruits, selects, develops, manages, motivates, coaches, and mentors Risk Console coordinators; provides guidance and direction on problems and issues; delegates work assignments considering project demands, employee skills and development needs.
Stakeholder Management and Communication – Identify, engage and manage various levels of stakeholders internal and external messaging. Drive resolutions to overcome obstacles and resistance among stakeholders.
Project Risk Management – lead complex and large project team discussion and project plans from inception to implementation.
Issues Management – Project manage cross-functional, cross-organization issue log, using appropriate prioritization based on issue importance. Drive appropriate and timely resolution and approvals.
Understanding of usual and customary policy provisions in different lines of insurance coverage
Experience with captive insurers and evaluating the risks it should accept
Experience managing third party insurance broker/risk consulting vendor contracts and performance
Experience managing global insurance premium allocation
Understanding of the risk management process
Experience developing and delivering global, on-site risk mitigation and risk transfer strategies and related communications for all levels of the organization.
Education, Licenses, Certifications
College, university, or equivalent degree required.
Broker license/producer license required.
EXPERIENCE – Experience leading global, cross-functional initiatives.Up to 25% travel, primarily in Africa and Middle East region.Proficiency in English required.
Serve as internal expert and key resource for risk transfer solutions and insurance procurement for multiple countries and geographic regions within a region; communicates related corporate policies and procedures to Area Business Organization (ABO) Leaders and implements execution at all levels.
Manages, plans and implements the country specific insurance coverage and loss mitigation strategy.
Leads cross-function and cross-business unit risk identification and insurance coverage assessment projects from concept to coverage inception, leveraging technical resource and experience required to market CMI exposure to global and local insurance markets. Work closely with cross-functional business teams to develop a regional Risk Register and risk mitigation initiatives.
Manages regional contracts and relationships with external insurance and mitigation partners; leads and develops training and educational awareness of technical insurance aspects.
Liaise with insurance regulatory agencies, carriers and brokers as required to ensure insurance admitted/non-admitted permitted compliance.
Maintains strong, expert understanding of insurance and risk transfer markets, understands and monitors coverage structures and transfer options, and maintains coverage terms and conditions aligning to corporate policy directives; maintains knowledge of technical tools such as ISO and regulatory body FORMS.
Works with local broker and carrier on claims management for policies outside global control master programs. Liaise with global Third Party Claims Administrator for claims under Control Master Programs.
Develops and maintains strong relationship with loss engineering mitigation vendors, including developing tools and mechanisms testing, reviewing and maintaining reports and communications required for compliance with insurance structure.
Communicates with key stakeholders internal and external: Finance, Legal, HSE, insurance markets/insurers, brokers and risk consultants, and ABO Leaders.
Primary Location South Africa-Gauteng-Johannesburg-South Africa, Johannesburg, AME ABO
Job Type Experienced - Exempt / Office
Recruitment Job Type Exempt - Experienced
Job Posting Aug 22, 2018, 7:25:21 AM
Unposting Date Ongoing
Req ID: 180004JW