Director Commercial Insurance and Risk Finance

Primary City/State:

Arizona, Arizona

Department Name:

Risk Financing & Ins Programs

Work Shift:

Day

Job Category:

Risk, Quality and Safety

Great careers are built at Banner Health. There’s more to health care than doctors and nurses. We support all staff members as they find the path that’s right for them. Apply today, this could be the perfect opportunity for you.

Becker’s Healthcare recently honored Banner as one of 150 top places to work in health care for 2024, we are proud to offer our team members many career and lifestyle choices throughout our network of facilities. At Banner Health, we’re excited about what the future holds for health care. That’s why we’re changing the industry to make the experience the best it can be. If you’re ready to change lives, we want to hear from you.

This role is remote for Arizona residents 8 hours Monday-Friday, typical start time is 8am.  In this Director  Commercial Insurance and  Risk Finance role you will be gathering renewal data, reviewing a few contracts, answering questions from internal stakeholders about insurance or claims, assisting direct reports with their questions or challenges, and possibly completing “supervisor” reviews on higher dollar claims. You will also be leading a team of three (analyst, sr. analyst, consultant) who all primarily handle claims or review contracts. Having experience working with a Risk Management Information System (RIMS) such as Riskonnect or Origami would be a big plus!

Your pay and benefits are important components of your journey at Banner Health. This opportunity includes the option to participate in a variety of health, financial, and security benefits. In addition, this position may be eligible for our Management Incentive Program as part of your Total Rewards package.

Within Banner Health Corporate, you will have the opportunity to apply your unique experience and expertise in support of a nationally-recognized healthcare leader. We offer stimulating and rewarding careers in a wide array of disciplines. Whether your background is in Human Resources, Finance, Information Technology, Legal, Managed Care Programs or Public Relations, you'll find many options for contributing to our award-winning patient care.

POSITION SUMMARY

This position works directly with the Senior Director Risk Finance and Insurance providing direction, leadership and consultation to department managers in relation to risk evaluation, risk transfer and risk financing with the objective of protecting the assets of the corporation.  Acts as a key adviser in the areas of decision making, mitigating risks where appropriate relating to insurance policies, and incident investigation. This position is responsible for maintaining the continuity of all insurance programs including monitoring the broker and captive insurance company managers. Is responsible for overseeing the submission of first level claim information for patient property, auto liability, crime, cyber, environmental, builders’ risk and property claim to include management of investigations. Verifying and monitoring all payments for claims and non-claims related expenses to ensure they are properly coded, fall within the scope of the contract and fit within the budgeted parameters.

CORE FUNCTIONS
1. Directs, develops and negotiates the insurance programs in order to minimize the adverse impact on the financial performance of the organization through the use of commercial insurance, and deductible programs. This includes but is not limited to property, builders’ risk, cyber, auto, directors’ and officers’ liability, employment practices liability, general and professional liability, workers compensation, fiduciary, helipad and non-owned aviation, foreign, travel accident, crime, special crime and environmental. This will include risk assessment, risk mitigation, and decision processes involving all insurance policies and claims. Meet with various underwriters and insurance brokers to negotiate rates and premiums for the systems and present materials regarding the company to various insurance carriers. Program to include identification, investigation, tracking, education, and reporting of potential and current issues.

2. Directs, designs, develop, plans, coordinates, and administers system-wide processes for risk transfer. Makes recommendations for purchases of insurance coverage, alternative risk transfer funding requirements. Works collaboratively with department leadership to promote the understanding of the insurance programs and coverages associated with each line of business.

3. Selects and assists the activities of insurance brokers, captive risk management consultants and other consultants as needed for risk management. Directs and oversees the exposure information pertaining to insurance coverage, to ensure adequacy and appropriate coverage to minimize risk. Oversee the application process for all lines of insurance coverage.

4. Oversees internal and external communication relating to potential risk management issues pertaining to patient property, auto liability, property, cyber and other lines of insurance business associated with the company.   Designs, develops and implements risk management strategies related to auto liability claims. Reviews and recommends insurance requirements and indemnification language and limitations in liability terms and conditions in contracts throughout the organization.

5. Assists in the development of the insurance budget. Accountable for meeting annual budgetary goals within the insurance budget. Monitors all payments including but not limited to the professional and general liability claims, auto liability, cyber, builders risk, property, environmental liability and patient property claims.

6. This position is responsible for directing and overseeing the state filings for workers compensation including payroll and loss reports and cooperates with any carrier or state audit of Banner’s workers compensation program. Ensures the premiums are paid within the timeframe allotted to avoid penalties.

7. Directs and oversees the performance of the interdepartmental claims handling for property and auto physical damage claims. Performs semi-annual file audits, monthly payment audits, and supervisor review tasks to ensure that the claims handling and performance is in line with the organization’s expectations.

8. Handles or oversees the negotiation settlements of patient property, property/builders’ risk, environmental, cyber crime and auto claims made against the company or on behalf of the company to minimize the adverse financial impact on loss.  Demonstrates the ability to negotiate with claimants, attorneys, insurance brokers and underwriters through written and verbal communications.

9. Selects, directs, and oversees the performance of the third party administrator for auto liability and general liability-property damage claims. Performs periodic file audits and participates in quarterly claim reviews to ensure that the claims handling and performance is in line with the organization’s expectations. Directs and oversees the issuance of all certificates of insurance and self-insurance letters for commercial and self-insurance policies including but not limited to property, auto liability, workers compensation, general and professional liability and cyber.


MINIMUM QUALIFICATIONS

Bachelor’s Degree required either in management or related field, and at least ten years Healthcare/Commercial Insurance experience required.

Must have management experience with specific training and/or understanding of Risk Management, commercial insurance and captive insurance. Must have knowledge of how to develop a budget as well as a broad knowledge of problem solving and strong communication skills with claims handling. Must be self-directed and have excellent interpersonal, time management, organizational and problem solving skills. Extensive experience with patient and customer communication, investigation and data collection/analysis. Be able to lead and manage change.

PREFERRED QUALIFICATIONS

Masters’ Degree in business or insurance preferred. CPCU, ARM or AIC designation preferred.

Additional related education and/or experience preferred.

EEO Statement:

EEO/Female/Minority/Disability/Veterans

Our organization supports a drug-free work environment.

Privacy Policy:

Privacy Policy