Risk Manager, Casualty Insurance

Deerfield, IL
Market-competitive pay and benefits
20 Feb 2024
12 Mar 2024
JR - 127294
Contract type
Full time
Experience level

This is where you save and sustain lives

At Baxter, we are deeply connected by our mission. No matter your role at Baxter, your work makes a positive impact on people around the world. You’ll feel a sense of purpose throughout the organization, as we know our work improves outcomes for millions of patients.

Baxter’s products and therapies are found in almost every hospital worldwide, in clinics and in the home. For over 85 years, we have pioneered significant medical innovations that transform healthcare.

Together, we create a place where we are happy, successful and inspire each other. This is where you can do your best work.

Join us at the intersection of saving and sustaining lives— where your purpose accelerates our mission.

Your Role at Baxter

The Global Casualty Risk & Insurance Manager is primarily responsible for oversight and coordination of key aspects of the worldwide casualty insurance program. This will include the understanding and evaluating of insurance policies, coverage enhancements, assessing risks, coverage placement, as well as more broadly assisting in the structuring, negotiating, purchasing and day to day management of lines of coverage within the global casualty insurance program including assistance with any coverage related disputes and claims.

This position routinely interfaces with insurance brokers, TPAs and various internal stakeholders. This role will report to the Director of Global Risk Management within Treasury and will include domestic and international responsibilities with respect to evaluating the operational risks associated with the business. The objective of this position is to provide risk management expertise and guidance in achieving compliant and cost effective global and local insurance programs and ensure relevant risks are adequately covered by way of insurance or other core risk management techniques.

What You'll Be Doing

  • Assists in the negotiation, structuring and management of worldwide global casualty insurance programs such as Workers Compensation, Automobile Liability and Public/General Liability. Renewal of programs consists of supporting renewal strategy and collection/approval of global renewal data. Coordinates and takes lead on assigned US and Non-US Casualty coverages.
  • Serves as a key contact for insurance brokers, external vendors, insurers and consultants. Manages underwriting meetings and renewal discussions. Monitors the performance of Baxter’s insurers, brokers and Third-Party Claims Administrators. Conducts annual stewardship meetings with external partners.
  • As the subject matter expert, manages assigned Workers Compensation, Auto and General Liability Claims, including the management of the TPA, claims reporting, evaluation of settlements, discovery and litigation process, claim reviews, TPA Audits and SOX Compliance.
  • Leads and resolves complex and difficult claims to achieve positive settlements. Maximizes insurer/subrogation recoveries to minimize the impact on the bottom line.
  • Establishes and maintains positive relationships with EHS, Legal, HR, Fleet Management, and external counsel to continuously drive results and minimize total cost of risk.
  • Determines and evaluates risk in contracts, leases and other documents. Recommends and advises strategies to transfer or finance risk through insurance or other risk financing methods so that the company does not unnecessarily assume the liability of others. Strong technical knowledge of contract insurance requirements, liabilities, and indemnifications as it pertains to vendor and procurement agreements is necessary.
  • Leads and resolves complex and difficult claims to achieve positive resolutions. Building relationships with key stakeholders and external partners is essential.
  • Responsible for contributing to the planning and forecasting of the Risk Management Annual Plan. Plan project entails making accurate fact-based predictions of insurance market trends, knowledge of developments and changes in exposures that will affect policy pricing. Budget process also includes the forecasting of variable expenses and expected retained losses.

What You'll Bring

  • Bachelor's Degree required
  • 5 plus years of experience in Risk Management and/or Insurance
  • Strong analytical skills and decision-making capabilities
  • Good presentation skills and ability to lead and interact with all levels of management
  • Strong interpersonal skills and an effective communicator
  • Ability to take initiative, guide and influence others toward goal accomplishment
  • Proficient use of Risk Management Information system
  • Eagerness to learn and continuously improve
  • Personal accountability for results
  • Maintains high standards of ethics and integrity

Baxter is committed to supporting the needs for flexibility in the workplace. We do so through our flexible workplace policy which includes a minimum of 3 days a week onsite. This policy provides the benefits of connecting and collaborating in-person in support of our Mission.

We understand compensation is an important factor as you consider the next step in your career. At Baxter, we are committed to equitable pay for all employees, and we strive to be more transparent with our pay practices. The estimated base salary for this position is $104,000 to $143,000 annually. The estimated range is meant to reflect an anticipated salary range for the position. We may pay more or less than of the anticipated range based upon market data and other factors, all of which are subject to change. Individual pay is based on upon location, skills and expertise, experience, and other relevant factors. This position may also be eligible for discretionary bonuses. For questions about this, our pay philosophy, and available benefits, please speak to the recruiter if you decide to apply and are selected for an interview.

The successful candidate for this job may be required to verify that he or she has been vaccinated against COVID-19, subject to reasonable accommodations for individuals with medical conditions or religious beliefs that prevent vaccination, and in accordance with applicable law.

For further information, and to apply, please visit our website via the “Apply” button below.

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