Director Risk Management

At Pentair, you will work along-side passionate problem-solvers who are committed to the future of our planet. We put our purpose into practice, helping people sustainably move, improve, and enjoy water, life's most essential resource. From our residential and commercial water solutions to industrial water management and everything in between, our 9,750 global employees serve customers in more than 150 countries, working to help improve lives and the environment around the world. 

We have an opportunity for a Director Risk Management to join our Golden Valley, MN team. You will lead the company’s global insurance and risk management program. This position is in the finance department and will report to the Vice President of Corporate Development and Treasury, in Golden Valley, Minnesota. You will be responsible for identifying, managing, and securing insurance coverage for operational and strategic risk encompassed by $4 billion global manufacturer of consumer and industrial products and services. Negotiate with global insurance markets for pricing and terms across multiple layers and lines of coverage. Lead in managing claims and obtaining maximum coverage for insured losses. Develop and implement policies and procedures for overall risk management of the organization. Lead integrated risk management framework that aggregates quantitative and qualitative risks across the enterprise, leverages systems and data management capabilities to support risk management programs, and improves the understanding of risk policies and limits to all business stakeholders. Ensures the organization's risk management policies and strategies are in compliance with applicable regulations, rating agency standards, and strategic imperatives of the organization. 

You will:

• Obtain optimal pricing and terms for all coverages including property, executive risk, and casualty/general liability. 
• Drive insurance renewal process and communicate market conditions and key decision points early and often to executive leadership.
• Work closely with finance department to create forecasts and budgets and plan for anticipated shifts in insurance markets.
• Manage eight-figure insurance program to budget.
• Run captive insurance company and ensure compliance with Vermont captive regulations.
• Set and manage reserves for claims and litigated matters in collaboration with third-party administrator and in-house litigation counsel. 
• Recommend changes in policy and practice to enable organization to establish and achieve risk management goals.
• Partner with Environmental Health & Safety professionals to identify and implement safety enhancements and loss reduction strategies; develop and deploy initiatives to reduce claim frequency, severity, and cost in collaboration with operating divisions.
• Respond swiftly to major losses and emergencies as they arise anytime and anywhere around the globe.
• Collaborate and consult with Associate General Counsel, Litigation on risk valuation and reserve setting for insured matters.
• Cultivate and maintain TPA, Broker and Carrier relationships.
• Report works comp and auto claims to third-party providers and oversee claims management.
• Conduct due diligence on risk and insurance issues for M&A transactions.
• Review supplier, vendor, and customer contracts for insurance and risk issues and counsel stakeholders on preferred terms.
• Train and empower team members in process for obtaining Certificates of Insurance.

Key Qualifications: 

• Bachelor's Degree and/or advanced degree in Risk Management, Business, or Finance, and/or advanced certification such as ARM, CPCU, or other insurance industry accreditation.
• Minimum 10 years risk management/loss prevention experience.
• Global manufacturing and services delivery experience, including broad understanding of enterprise risk management principles.
• Knowledge and experience with captive insurance companies.
• Facility with actuarial analysis and models.
• Established relationships with insurance brokers and underwriters.
• Excellence in standard work processes, project management, and long-range planning.
• Commitment to continuous improvement and developing a centralized service model for Risk Management.
• Finance and accounting experience, including budgeting and reserve setting.
• Experience with Origami or similar risk management software.
• Command of Microsoft Excel and fluency with Microsoft PowerPoint.
• Results oriented, displays sound judgment and ability to balance business considerations and gets results while maintaining effective business relationships with varied constituencies.
• Occasional travel may be required (<10%).

Compensation:

For this full-time position working at this location, the anticipated annualized base pay range will be from $149000 - $276700 / year. At Pentair, it is not typical for an individual to be hired near the bottom or top of the pay range. Pentair considers various factors in determining actual compensation for this position at the expected location. Actual compensation will be commensurate with demonstrable level of experience and training, pertinent education including licensure and certifications, work location, and other relevant business or organizational needs.

This position may be eligible for other forms of compensation such as, annual incentive bonus.

Benefits:

As a Pentair employee, you would enjoy a wide array of benefit options to help keep you and your family healthy and protected, health benefits, a generous 401(k), employee stock purchase program, disability benefits, life insurance, critical illness insurance, accident insurance, parental leave, caregiver leave, tuition reimbursement, plus paid time off and wellness programs to encourage a healthy work/life balance.

Pentair is an Equal Opportunity Employer. With our expanding global presence, cross-cultural insight and competence are essential for our ongoing success. We believe that a diverse workforce contributes different perspectives and creative ideas that enable us to continue to improve every day.