Insurance Program and Risk Finance Manager

UPS

1d•Hybrid

About The Position

The Insurance Program and Risk Finance Manager supports the development and administration of the company’s insurance programs and risk financing strategies. This role assists in the procurement and management of insurance policies, oversees claim trends, works with actuaries on reserve assessments, and provides operational oversight of captive insurance structures. The Manager ensures compliance with regulatory requirements while optimizing risk financing solutions to align with corporate objectives.

Requirements

Bachelor’s degree in Risk Management, Insurance, Finance, Business Administration, or related field.
5+ years of experience in insurance program management, risk finance, or corporate risk management.
Experience with captive insurance administration, actuarial engagement, and insurance policy placement.
Strong knowledge of insurance structures, risk financing, and self-insurance programs.
Analytical skills with experience in actuarial reporting and financial analysis.
Effective negotiation skills for interacting with brokers and insurers.
Strong attention to detail with the ability to manage multiple projects.
Proficiency in claims management systems, insurance analytics tools, and Microsoft Excel.

Nice To Haves

Professional designations such as CPCU, ARM, ARe, or WCCA (preferred).

Responsibilities

Insurance Program Administration: Assist in the design and execution of the company’s insurance and risk financing programs.
Support the negotiation and placement of insurance policies, ensuring optimal terms and coverage.
Coordinate insurance renewals, policy reviews, and premium allocations across business units.
Maintain relationships with brokers, insurers, and third-party administrators (TPAs).
Risk Financing & Captive Insurance Support: Provide operational support for captive insurance company management, including financial reporting, governance, and compliance.
Assist in self-insured programs and large deductible plans, ensuring proper funding and administration.
Analyze loss experience and claim reserves to identify risk financing opportunities.
Prepare reports and presentations on insurance costs, coverage structures, and financial impacts.
Engagement with Independent Actuaries & Financial Analysis: Work with independent actuaries to support reserve studies and claims trend analysis.
Assist in forecasting risk exposure and recommending changes to self-insured retentions and premium allocations.
Support financial modeling of risk financing options, including captive insurance feasibility studies.
Regulatory Compliance & Reporting: Ensure compliance with insurance regulations, captive insurance laws, and financial reporting requirements.
Prepare reports for regulatory filings, board meetings, and senior leadership.
Assist in maintaining internal policies and procedures for insurance program governance.
Claims & Risk Data Analysis: Monitor high-severity claims trends and collaborate with legal teams on complex claims.
Provide data-driven insights to improve loss control and risk management strategies.
Support claims administration efforts, ensuring accurate claim reserves and timely reporting.
Collaboration & Leadership: Act as a liaison between internal stakeholders, brokers, actuaries, and insurers.
Work closely with finance, legal, HR, and operations to align risk management strategies.
Provide guidance to junior team members and support training initiatives on insurance processes.