Discover Vanderbilt University Medical Center: Located in Nashville, Tennessee, and operating at a global crossroads of teaching, discovery, and patient care, VUMC is a community of diverse individuals who come to work each day with the simple aim of changing the world. It is a place where your expertise will be valued, your knowledge expanded, and your abilities challenged. Vanderbilt Health recognizes that diversity is essential for excellence and innovation. We are committed to an inclusive environment where everyone has the chance to thrive and where your diversity of culture, thinking, learning, and leading is sought and celebrated. It is a place where employees know they are part of something that is bigger than themselves, take exceptional pride in their work and never settle for what was good enough yesterday. Vanderbilt’s mission is to advance health and wellness through preeminent programs in patient care, education, and research.
Organization:
OLA & RIM - Admin
Job Summary:
Vanderbilt Health - Executive Search Team is conducting a national search for a Vice President, Risk and Insurance Management.
The Vice President, Risk and Insurance Management plays a leadership role in the strategic development and implementation of the risk management program, including development of goals, objectives, policies, and procedures to support the mission and vision of the medical center. Supervises and coordinates risk management activities, including risk identification and assessment; risk financing and transfer; risk prevention; risk control; and claim management. Oversees preparation of operating and capital expenditure budgets, purchase and renewal of insurance policies, and recommendations for self-funding. Oversees personnel and administrative functions for the department.
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Key Functions and Expected Performances
Develops goals and objectives for risk management in keeping with institutional policy and goals.
Identifies and analyzes existing and emerging risks to the institution;
Makes recommendations regarding insurance coverage, including new coverage, to effectively manage evolving risks;
Evaluates insurance coverage and determines appropriate limits and retention, including benchmarking;
Oversees renewal of insurance policies and programs;
Sets broad policies and philosophy regarding management of claims against the institution;
Makes recommendations regarding loss prevention and oversees loss prevention activities;
Ensures compliance with legal and regulatory requirements affecting the department’s responsibilities.
Defines and achieves financial targets in support of the business goals of the institution.
Develops and maintains operating and insurance budgets;
Makes recommendations regarding self-funding or budgets for:
General liability
Property
Automobile physical damage
Workers’ Compensation
Professional Liability
Facilitates and approves actuarial studies to determine funding levels for:
Workers’ compensation
Professional liability
Monitors expenditures from departmental budgets, self-insurance, and insurance policies to identify trends, evaluate variances, and measure success and areas for improvement.
Creates service standards for internal and external customers.
Oversees annual insurance renewal process for insurance policies which cover the medical center and affiliated entities.
Directs, oversees, and manages claims against the medical center for self-insured risks including but not limited to: Workers’ Compensation, Professional Liability, and General Liability. This management includes:
Investigation;
Determination of exposure and liability;
Recommendations for monetary reserves and management of events;
Recommendations for settlement or defense;
Negotiations with claimant or claimant’s defense counsel;
Assignment to external law firms;
Oversight of litigation;
Participation in mediation;
Monitoring trials.
Directs and oversees management of claims against the medical center for insured risks, including but not limited to Property Damage, Automobile Liability, Network Security, and Foreign Liability.
Ensures departmental involvement in VUMC committees and projects to reduce risk and improve the safety of employees, patients, and visitors;
Establishes service standards for the department, evaluates performance based on those standards, and makes improvements to performance based on evaluation;
Communicates risk management objectives and results to all levels of the institution, including the Board of Directors.
Leads organization in Enterprise Risk Management assessments and analysis.
Oversees development and dissemination of the annual survey tool, including collation and analysis of results;
Presents results and makes recommendations to senior leadership and the board;
Works with risk owners on deep dives including sub-risks, mitigation, and metrics;
Works with Compliance and Internal Audit to coordinate efforts.
Creates an organizational culture (both within and across departments) that provides a safe, satisfying, and enriching environment for employees and provides a competent staff to meet customer needs.
Provides leadership to promulgate the mission and values of the institution to the department;
Provides qualified and competent staff to meet the needs of the organization;
Creates an environment that encourages and supports self-development and learning;
Demonstrates a leadership style that is facilitative and collaborative, communicating within and across departments to maximize effectiveness.
Ensures effective operations of the department through program development, process improvement, and coordination/integration of processes with other departments.
Develops and oversees departmental policies and procedures;
Evaluates functions to determine allocation and utilization of resources;
Oversees personnel management;
Develops and maintains working relationships with departments across the medical center through committee participation, collaboration, and problem solving.
Basic Qualifications
Minimum Bachelor’s degree; Master’s degree preferred. A law degree may be helpful but is not required.
Experience
Required months in field before employment: 120. Prior work in healthcare required; clinical background helpful but not required.
Licensure, Certification, and/or Registration
Associate in Risk Management (ARM), Certified Professional in Healthcare Risk Management (CPHRM), Chartered Property and Casualty Underwriter (CPCU) or any combination of the three.
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At our growing health system, we support each other and encourage excellence among all who are part of our workforce. High-achieving employees stay at Vanderbilt Health for professional growth, appreciation of benefits, and a sense of community and purpose.
Core Accountabilities:
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Core Capabilities :
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Position Qualifications:
Responsibilities:
Certifications:
Work Experience:
Relevant Work Experience
Experience Level:
10 years
Education:
Master's
Vanderbilt Health recognizes that diversity is essential for excellence and innovation. We are committed to an inclusive environment where everyone has the chance to thrive and to the principles of equal opportunity and affirmative action. EOE/AA/Women/Minority/Vets/Disabled
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