Director of Risk Management - RaceTrac

RaceTrac Company Overview

Job Description:

The Director of Risk Management plays a critical role in driving the company’s risk management efforts by contributing to the management of workers' compensation claims, general liability claims, and insurance procurement. Reporting to the Executive Director of Risk Management and Associate General Counsel, the Director will collaborate closely with the EDRM to help protect the company’s assets, manage risk exposure, and ensure compliance with applicable regulations. This position acts as a crucial part of the risk management team, working as the next line of defense in the risk management strategy. This position may require up to 15% travel.

Responsibilities:

• Claims Management:

  · Oversee and manage all workers' compensation claims, ensuring timely and appropriate handling.

  · Direct the management of general and automobile liability claims across all stores, ensuring proper investigation, documentation, and resolution.

  · Coordinate with the leadership and third-party administrators to mitigate risk and reduce claims costs.

• Insurance Procurement:

  · Collaborate with EDRM and brokers to secure cost-effective insurance coverage, including general liability, workers' compensation, and other relevant insurance lines.

  · Conduct periodic reviews of insurance policies to ensure adequate coverage and assist with negotiating renewals.

  · Provide strategic insights into market trends to enhance the company’s risk financing strategies.

• Risk Assessment and Mitigation:

  · Identify potential areas of risk across the company’s operations, such as safety hazards, compliance gaps, and emerging risks.

  · Develop and implement risk mitigation strategies, policies, and procedures to minimize exposure.

  · Conduct regular risk assessments and audits to ensure compliance with company policies and regulatory requirements.

• Compliance and Reporting:

  · Ensure all risk management activities adhere to local, state, and federal laws, as well as industry standards.

  · Implement and monitor policies and procedures to manage risk and ensure safety across all locations.

  · Prepare and submit reports on risk exposures, claims status, and recommendations for improvement to the Executive Director of Risk Management and Associate General Counsel.

• Team Leadership and Development:

  · Lead and mentor a team of risk management professionals.

  · Promote a culture of continuous improvement, accountability, and safety throughout the organization.

  · Provide training and development opportunities to enhance the team’s performance.

• Collaboration and Communication:

  · Serve as a liaison between the company and external partners, including the company’s Third Party Administrator, insurance brokers, adjusters, and legal counsel.

  · Manage and oversee the Third Party Administrator relationship.

  · Collaborate with store managers and operational teams to ensure the consistent implementation of risk management policies and procedures.

  · Communicate risk management initiatives and updates to all levels of the organization.

Qualifications:

• Bachelor’s degree in Risk Management, Business Administration, or a related field.
• Minimum of 5 years of experience in risk management, preferably within the retail or convenience store industry.
• Strong knowledge of insurance programs, claims management, and risk mitigation strategies.
• Demonstrated experience in handling workers' compensation and general liability claims.
• Excellent leadership, communication, and problem-solving skills.
• Ability to work effectively with cross-functional teams and external partners.
• Professional certification in risk management (e.g., CRM, ARM, CPCU) is a plus.
• Proficient in Microsoft Office Suite required.
• Excellent written and verbal communication skills.

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