WEX is hiring a

Corporate Insurance Manager

Corporate Insurance Manager

US – Remote

This job may be performed remotely within the United States, except that it is not eligible to be performed in Colorado.

Portland, ME

WEX Inc. (NYSE:WEX) is a leading provider of business to business physical, digital and virtual card payment solutions. WEX’s fleet, corporate and health payment solutions provide its customers comprising small businesses, large fleets and corporations with unparalleled security and control across a wide spectrum of business sectors.

We are executing against a multi-pronged growth strategy that enables us to maintain our leadership position and we hire people who share our passion for continuous innovation, client service and
process improvement.

Job Summary:

The Corporate Insurance Manager is a member of WEX’s Risk Services team within the corporate Risk & Compliance function reporting to the SVP, Enterprise Risk Management and Risk Operations. The successful candidate who assumes this role will manage and execute all aspects of WEX’s comprehensive insurance program. The role requires specialized knowledge of insurance coverages and markets, as well as a solid understanding and application of industry concepts, practices, regulations and technology.

This role will monitor and evaluate WEX’s insurance portfolio, contractual risk transfer programs and claims management. The role is responsible for responding to stakeholders at all levels across the WEX enterprise and with external constituents on domestic and international insurance matters.

This role ideally would be located in Maine, however, we are flexible to consider candidates to work remotely within the United States.

The ideal candidate will have the opportunity to:

  • Develop a deep understanding of all WEX operations, current and potential future exposures, global risk profile and risk management strategy.
  • Conduct risk assessment, collecting and analyzing documentation, statistics, reports and market trends in the continuous development of the WEX global risk management strategy.
  • Develop, implement and maintain the WEX risk transfer portfolio including the design, selection and procurement of various insurance policies, programs or solutions with analysis on level of risk appropriate for WEX to take, evaluating policy limits, retentions and pricing in conjunction with WEX’s global risk management strategy.
  • Effectively and efficiently develop, monitor and update needed underwriting information for all insurance renewals. Ensure underwriting information is timely and accurately compiled, analyzed and utilized in the procurement of insurance policies that provide the most advantageous coverage terms and conditions at the appropriate limits and retention levels – balancing the costs and benefits with WEX’s risk tolerance and appetite.
  • Continually work to develop and implement comprehensive risk mitigation strategies in conjunction with WEX’s global risk management strategy and overall risk tolerances and appetite.
  • Analyze loss information to proactively identify trends and develop/implement risk mitigation strategies to reduce potential to loss. Advise lines of business and functions so that benefits and restrictions of insurance are understood and value-added services are utilized when appropriate.
  • Report, manage and resolve all insurance claims under all policies.
  • Perform loss forecasting in conjunction with monitoring annual insurance budget.
  • Quarterly reserve analysis, review of expense variances, and reporting to senior management of recommended adjustments.
  • Proactively work with the M&A team in the due diligence process to identify risk/insurance needs, offer creative ideas and solutions for mitigating risks resulting from potential transactions and ensure integration into existing programs in a timely manner upon closing.
  • Monitor emerging risk/insurance trends and techniques through industry news, broker and peer networking events such as RIMS. Effectively disseminate risk/insurance information internally outlining any potential impact to the insurance portfolio and/or WEX risk profile.
  • Draft and present risk reports and proposals to executive leadership and senior staff.
  • Effectively manage all third-party relationships to the benefit of WEX including but not limited to brokers, insurers and other third-party resources utilized within the risk management function.

To succeed, the following is required:

  • Bachelor’s degree required.
  • 10+ years insurance and risk management experience.
  • Industry certifications such as Associates in Risk Management (ARM) and Chartered Property, Casualty Underwriter (CPCU) preferred.
  • Experience supporting projects within a matrixed, multinational organization.
  • Ability to think critically in order to analyze problems and develop creative, practical and efficient solutions.
  • Strong verbal and written communication skills, including the ability to write clear and concise communications for employees at all levels – including senior management and board level written presentations and communications.
  • Reputation for, and absolute commitment to, integrity and professionalism.
  • Strong organizational skills and attention to detail.
  • Ability to prioritize and work on multiple projects and tasks at the same time.
  • Adaptable and comfortable working collaboratively and independently.
  • Proficient in Microsoft Word, Excel, PowerPoint and G Suite.
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