Hyatt Corporate Office, Chicago
DIRECTOR, RISK MANAGEMENT AND INSURANCE PROCUREMENT
Hyatt Corporate Office, Chicago, Chicago, Illinois, United States, 60290
Summary
The Opportunity
Hyatt seeks an enthusiastic Director to join our Risk Management Department where you’ll join a team of over 30 field professionals who love what they do. In this role, you will be collaborating closely with the broader Finance, Legal, Human Resources, and Operations teams where you’ll be instrumental in continuing to make Hyatt a leading hospitality company. You will be part of a team passionate about diversity, equity, and inclusion, committed to nurturing curiosity and new skills and building connections with stakeholders, colleagues, and guests across the organization.
Who You Are
As our ideal candidate, you understand the power and purpose of our Culture of Care and embody our core values of Empathy, Inclusion, Integrity, Experimentation, Respect, and Well-being. You enjoy working with others, are results-driven, and seek various opportunities to develop personally and professionally.
The Role
This position is responsible for the implementation and management of risk analysis, retained risk, and risk transfer programs. This includes negotiating insurance placements and coverage terms and conditions, risk transfer, contract reviews, insurance contract compliance program, and first-party claims management. This position cultivates and manages relationships with third-party service providers including brokers, insurers, and risk management consultants. This role regularly interfaces with personnel at all levels at the corporate and regional offices, hotels, and hotel ownership groups. This person interacts with and provides risk management expertise and guidance as needed by corporate departments, regional offices, hotels, and hotel owners.
Risk Identification and Mitigation
Identify, develop, recommend, and implement appropriate strategies, policies, procedures, and systems to control and minimize risk Company-wide.
Partner with management (financial, operational, legal, enterprise risk management, human resources, and field leadership) to evaluate existing risk management practices and develop creative and cost-effective new risk reduction and management approaches (including the effective cost of risk allocation system and procedures) to reduce the overall cost of risk.
Provide formal training to corporate, regional, hotel, and hotel ownership teams on relevant risk management issues, and insurance costs, and proactively ensure an ongoing understanding of the cost of risk and application of appropriate risk management practices.
Provide leadership to the Insurable Risk Management team.
Accountable for preparing Board, and Executive level presentations for internal and external use with key stakeholders and insurers.
Build alliances with many areas within the organization and provides insurance and risk guidance as needed.
Respond to crises that have risk management implications and assist with problem-solving.
Gain a thorough knowledge of all functions within the department to effectively identify opportunities for process improvement and implement strategies that drive efficiency and operational excellence.
Insurance Procurement
Along with the VP of Risk Management, review and select insurance brokers and insurance carriers.
Oversee and manage the administration of all non-benefit related insurance programs inclusive of, but not limited to, property, casualty, cyber, and management liability.
Organize and evaluate overall corporate exposures, approve broker submissions, and review and recommend proposals presented for insurance programs.
Prepare insurance specifications to market insurance programs and consult with insurance brokers to negotiate optimal insurance coverage and the various risk transfer options for the Company.
Monitor and optimize the Company’s insurance coverage through comprehensive analyses of historical claim data to determine the appropriate risk financing techniques.
Oversee the gathering of underwriting information, complete applications, and work with brokers to negotiate terms, conditions, and pricing.
Negotiate the terms and conditions of insurance coverage ensuring that the Company has proper, adequate, and reasonably priced coverage for its assets and insurable exposures.
Review policy wording to ensure that it appropriately and accurately meets Company expectations and negotiate new wording as required.
Oversee the onboarding process for all new hotels to the global insurance program.
M&A Activities
Research target companies and review risk profiles; identify risks/red flags for the due diligence team.
Analyze loss and exposure data for target companies.
Integrate the target company into Hyatt’s insurance and risk management programs.
Contractual Risk Transfer and Compliance
Establish appropriate Company standards for contractual risk transfer.
Review terms and conditions in contracts and leases to identify risk exposures, recommend risk mitigation steps, and modify insurance terms and conditions consistent with the Company’s risk transfer philosophy and insurance programs.
Evaluate and negotiate insurance language in contracts, leases, and/or operating agreements and, if necessary, develop and recommend insurance language.
Develop internal guidelines, toolkits, and packaged knowledge on various insurance and risk management issues.
Provide formal training to various individuals and groups on risk management and insurance issues.
Overall responsibility for contract and insurance compliance, including contract review and certificate of insurance review and issuance via an outsourced vendor. Identify non-compliance trends and risks to the organization then develop insurance solutions to mitigate risks to present to management.
Qualifications
Experience Required:
10+ years of progressively responsible corporate risk management, insurance company, or insurance brokerage experience in a complex organization.
Experience Preferred:
Bachelor’s degree in Insurance/Risk Management, Law, Accounting, Finance, Business Administration, or a related field required.
ARM, CRM, or CPCU designation preferred.
The position responsibilities outlined above are in no way to be construed as all-encompassing. Other duties, responsibilities, and qualifications may be required and/or assigned as necessary.
We welcome you:
Research shows that women, people of color, and other historically excluded groups, tend to apply to jobs only if they meet all the listed job qualifications. Unsure if you check every box, but feeling inspired to enhance your career? Apply. We’d love to consider your unique experiences and how you could make Hyatt even better.
#J-18808-Ljbffr
The Opportunity
Hyatt seeks an enthusiastic Director to join our Risk Management Department where you’ll join a team of over 30 field professionals who love what they do. In this role, you will be collaborating closely with the broader Finance, Legal, Human Resources, and Operations teams where you’ll be instrumental in continuing to make Hyatt a leading hospitality company. You will be part of a team passionate about diversity, equity, and inclusion, committed to nurturing curiosity and new skills and building connections with stakeholders, colleagues, and guests across the organization.
Who You Are
As our ideal candidate, you understand the power and purpose of our Culture of Care and embody our core values of Empathy, Inclusion, Integrity, Experimentation, Respect, and Well-being. You enjoy working with others, are results-driven, and seek various opportunities to develop personally and professionally.
The Role
This position is responsible for the implementation and management of risk analysis, retained risk, and risk transfer programs. This includes negotiating insurance placements and coverage terms and conditions, risk transfer, contract reviews, insurance contract compliance program, and first-party claims management. This position cultivates and manages relationships with third-party service providers including brokers, insurers, and risk management consultants. This role regularly interfaces with personnel at all levels at the corporate and regional offices, hotels, and hotel ownership groups. This person interacts with and provides risk management expertise and guidance as needed by corporate departments, regional offices, hotels, and hotel owners.
Risk Identification and Mitigation
Identify, develop, recommend, and implement appropriate strategies, policies, procedures, and systems to control and minimize risk Company-wide.
Partner with management (financial, operational, legal, enterprise risk management, human resources, and field leadership) to evaluate existing risk management practices and develop creative and cost-effective new risk reduction and management approaches (including the effective cost of risk allocation system and procedures) to reduce the overall cost of risk.
Provide formal training to corporate, regional, hotel, and hotel ownership teams on relevant risk management issues, and insurance costs, and proactively ensure an ongoing understanding of the cost of risk and application of appropriate risk management practices.
Provide leadership to the Insurable Risk Management team.
Accountable for preparing Board, and Executive level presentations for internal and external use with key stakeholders and insurers.
Build alliances with many areas within the organization and provides insurance and risk guidance as needed.
Respond to crises that have risk management implications and assist with problem-solving.
Gain a thorough knowledge of all functions within the department to effectively identify opportunities for process improvement and implement strategies that drive efficiency and operational excellence.
Insurance Procurement
Along with the VP of Risk Management, review and select insurance brokers and insurance carriers.
Oversee and manage the administration of all non-benefit related insurance programs inclusive of, but not limited to, property, casualty, cyber, and management liability.
Organize and evaluate overall corporate exposures, approve broker submissions, and review and recommend proposals presented for insurance programs.
Prepare insurance specifications to market insurance programs and consult with insurance brokers to negotiate optimal insurance coverage and the various risk transfer options for the Company.
Monitor and optimize the Company’s insurance coverage through comprehensive analyses of historical claim data to determine the appropriate risk financing techniques.
Oversee the gathering of underwriting information, complete applications, and work with brokers to negotiate terms, conditions, and pricing.
Negotiate the terms and conditions of insurance coverage ensuring that the Company has proper, adequate, and reasonably priced coverage for its assets and insurable exposures.
Review policy wording to ensure that it appropriately and accurately meets Company expectations and negotiate new wording as required.
Oversee the onboarding process for all new hotels to the global insurance program.
M&A Activities
Research target companies and review risk profiles; identify risks/red flags for the due diligence team.
Analyze loss and exposure data for target companies.
Integrate the target company into Hyatt’s insurance and risk management programs.
Contractual Risk Transfer and Compliance
Establish appropriate Company standards for contractual risk transfer.
Review terms and conditions in contracts and leases to identify risk exposures, recommend risk mitigation steps, and modify insurance terms and conditions consistent with the Company’s risk transfer philosophy and insurance programs.
Evaluate and negotiate insurance language in contracts, leases, and/or operating agreements and, if necessary, develop and recommend insurance language.
Develop internal guidelines, toolkits, and packaged knowledge on various insurance and risk management issues.
Provide formal training to various individuals and groups on risk management and insurance issues.
Overall responsibility for contract and insurance compliance, including contract review and certificate of insurance review and issuance via an outsourced vendor. Identify non-compliance trends and risks to the organization then develop insurance solutions to mitigate risks to present to management.
Qualifications
Experience Required:
10+ years of progressively responsible corporate risk management, insurance company, or insurance brokerage experience in a complex organization.
Experience Preferred:
Bachelor’s degree in Insurance/Risk Management, Law, Accounting, Finance, Business Administration, or a related field required.
ARM, CRM, or CPCU designation preferred.
The position responsibilities outlined above are in no way to be construed as all-encompassing. Other duties, responsibilities, and qualifications may be required and/or assigned as necessary.
We welcome you:
Research shows that women, people of color, and other historically excluded groups, tend to apply to jobs only if they meet all the listed job qualifications. Unsure if you check every box, but feeling inspired to enhance your career? Apply. We’d love to consider your unique experiences and how you could make Hyatt even better.
#J-18808-Ljbffr