The Office of the Vice President for Finance and Deputy Treasurer is responsible for all aspects of University finances, including risk management, treasury services, accounting, taxation, financial planning and reporting, financial controls, procurement services and financial information systems, and payroll disbursement.
Under the limited direction of the Vice President for Finance and Deputy Treasurer, the Director of Risk Management is responsible for all risk management and potentially, Enterprise Risk Management (ERM) activities, including the supervision of assigned personnel.
The Director implements and optimizes the operations of all University insurance activities that includes identification and analysis of exposures to accidental losses as well as recommends means to eliminate, abate, transfer or retain said exposures. The incumbent administers a cost effective property/casualty insurance program, including participation in a captive insurance company, as well as participation in the administration of property/casualty claims including all related policies and records. The Director administers an accident/sickness program providing consolidated health benefits for students, athletes and others. All of these efforts are performed to protect University of Delaware assets through the minimization of the losses at the least possible cost.
The University also engages in an ERM program, which is currently overseen by the Vice President for Finance and Deputy Treasurer. The ERM program is holistic and includes enterprise wide analysis and collaboration across the institution. The amount of inclusion and leadership the Director of Risk Management has within the ERM framework will be based on the qualifications and applicable experience of the incumbent that fills this position. ERM is currently not a requirement for this position.
- Interface with the University community on all property and casualty insurance matters, including handling of claims, contract review, providing evidence of insurance, and all other insurance inquiries.
- Administer a property/casualty insurance program, including serving as the University’s representative to its group captive insurance company.
- Recommend and then implement methods to eliminate, abate, transfer or retain exposures to accidental loss to protect the University from catastrophic financial loss.
- Purchase and maintain all property and casualty insurance coverage/policies, and maintain all policies and insurance records.
- Participate in the administration of property/casualty claims to assure they are handled in a timely manner, reported to insurers as required; direct claim investigations and provide results to insurers and attorneys; maintain settlement cost records for all claims.
- Counsel department heads, directors and other University personnel regarding insurance, liability and other risk management issues.
- Review contracts and affiliation agreements to assure they do not unduly obligate or place the University in an adverse position.
- Serve as the University’s representative to its group captive insurance company.
- Serve on relevant University committees, including the Enterprise Risk Management Committee and Council.
- Report annually or as requested to the Trustee Committee on Finance and Audit Visiting Committee regarding status of insurance coverage and losses.
- Administer various insurance programs to provide students, athletes and other special groups’ accident and sickness insurance.
- Provide training and insurance information to the University community.
- Supervise Risk Management personnel, currently one exempt position.