Risk Manager (Finance)
ABOUT SUBARU
LOVE. It's what makes Subaru, Subaru®. 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®.
Subaru is a globally renowned automobile manufacturer known for its commitment to innovation, safety, and sustainability. With a rich history dating back to 1953, Subaru has consistently pushed the boundaries of automotive engineering to deliver vehicles that offer not only exceptional performance but also a unique blend of utility and adventure.
Subaru's company culture is built on collaboration, diversity, and a shared passion for our product. We foster an inclusive environment that encourages employees to bring their unique perspectives and talents to the table. Our team members are driven by a common goal: to create exceptional vehicles that inspire and delight our customers.
SUMMARY
Manages Subaru's risk management and insurance program and is responsible for the compliance and administration of Subaru's captive insurance company, Pleiades Insurance Co, Ltd. Responsible for loss control activities related to employee safety, fleet safety, and office ergonomics and Occupational Safety and Health Administration (OSHA) reporting requirements and response of violations.
MAJOR RESPONSIBILITIES
- Finalizes underwriting submissions and maintains responsibility for the maintenance, negotiation, and renewal of Subaru of America's (SOA's) insurance programs. Acts as subject matter expert and advises internal departments on potential risks/claims relative to SOA's insurance programs. Determines marketing/coverage priorities, premium goals, retention levels, aggregates, limits of insurance, and captive involvement information, etc. Reviews proposals, recommends selection to Associate Director of Risk Management, and implements selected program.
- Exercises authority to purchase corporate insurance policies with premiums of $500,000 or less.
- Manages various aspects of Pleiades Insurance Company including 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 ensure that all monthly investments and changes in Pleiades Investment policy are accurate.
- Contract Management: Reviews and approves vendor-requested changes to standard contract insurance clauses. Works with Legal and Information Technology (IT) to implement and maintain enterprise contract life cycle management program (Agiloft).
- Oversight of Third-Party Administrator (TPA): Establishes and revises Claims Handling Procedures, audits claims to validate reserving and payment practices, and reviews costs associated with all claims handling.
- Conducts loss control visits to SOA locations and enforces risk policies and procedures.
- Ensures compliance with existing and new laws, regulations, requirements, and other areas of development (e.g. state auto laws, OSHA, state workers compensation [WC] regulations) to ensure that SOA is in compliance and provides information and analysis of all changes to relevant internal stakeholders. Ensures completion of all required government forms including all OSHA-mandated documents.
- Manages litigated claims in collaboration with SOA Legal department.
ADDITIONAL RESPONSIBILITIES
- Provides ongoing risk management expertise to SOA departments and employees.
- Evaluates risks associated with special events and incentive trips (Marketing, Sales, etc.). Recommends appropriate remediations such as special insurance, participant waivers, etc.
- Hires Risk Management vendors.
- Exercises Claim Settlement Authority of $80,000 or less.
REQUIRED SKILLS AND PERSONAL QUALIFICATIONS
- Bachelor's degree in Risk Management or related business area, or equivalent work experience, required.
- Competency in Microsoft Office Suite (Word, Excel, and Outlook).
- Comprehensive understanding of insurance policy coverages, claims handling, and motor vehicle violations.
- Strong analytical and strategic planning skills.
- Effective project management skills and ability to handle multiple deadlines.
- Ability to multi-task and work in a team.
- Excellent listening skills and customer service skills.
- Excellent problem resolution skills.
- Strong interpersonal, communication, and negotiation skills.
- Knowledge of, or ability to learn, Risk Management Information System (RMIS), Subaru Parts system, Vehicle and Driver Database, and Fleet Management System.
- Ability to work with minimal supervision, exercise good judgment, solve problems, think critically, multi-task, and prioritize work in a changeable environment.
- Strong written and verbal communication skills, including presentations skills.
- Advanced computer and data analysis skills.
- Ability to analyze and interpret legal documents and insurance policies.
- Ability to implement new ideas and change.
EDUCATION/EXPERIENCE REQUIREMENTS: BA/BS degree in Risk Management or related business area, or equivalent work experience: 8-10 years experience.
WORK ENVIRONMENT
- Hybrid Role: Remote work 2 days per week (After 90 Days Onboarding)
COMPENSATION: The recruiting base salary range for this full-time position is $92,100 - 130,000 / year. Within the range, individual pay is determined by factors, including job-related skills, experience, and relevant education or training. (Internal Job Grade: M1) 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
- Visit our Careers landing page for additional information about our compensation and benefit programs.
