About Us:
ISMIE is a Chicago based national professional liability insurance company that provides insurance coverage for health care professionals, small health care facilities and other professionals.
Job Purpose:
The Director, Internal Audit and Analytics serves as the strategic lead for enterprise-wide, data-driven strategies that leads a team of analysts to build predictive models that drive greater organizational effectiveness and efficiency, optimize growth, assess risks and drive data-driven decision-making across underwriting, claims, reserving operations, reinsurance and all business operations. Additionally, the Director, Internal Audit and Analytics oversees the internal audit program and continuously evaluates the design and operating effectiveness of risk management, governance, and internal controls over claims, underwriting, reinsurance and other business operations to protect company assets, ensure regulatory compliance, report to executive management, the board and reinsurers and identify opportunities to improve processes.
Data Analytics and Modeling Responsibilities:
Direct the design, testing and implementation of statistical models to support various divisions and segments of the Companies' business.
Partner directly with actuaries and Underwriting Division team members to translate business strategies into scalable data and analytical models.
Establish data governance frameworks, ensure data integrity, and build robust modeling architectures that comply with insurance regulations.
Mentor and lead a team of data analysts to solve complex business problems.
Lead and oversee data analytics professionals to create, implement and distribute various data reports to internal divisions.
Lead the development and implementation of tools and key performance indicators for various specialties to be utilized internally and distributed to retail brokers, current and prospective insureds, associations and others.
Collaborate with teams from Underwriting, Claims, Finance, and Actuarial to develop key operational metrics to improve overall operational efficiency.
Oversee the analysis on the effectiveness of ISMIE Risk Rewards program and report results to senior management and the ISMIE Board.
Develop market intelligence and competitive landscape analysis.
Review and vet new Insurtech opportunities that will improve efficiencies for ISMIE's policyholders or ISMIE's internal operations.
Meet with outside vendors to explore the use of artificial intelligence to benefit ISMIE's policyholders and enhance ISMIE's ability to identify risk.
Supervise, motivate, and encourage development of staff.
Internal Audit Responsibilities:- Supervise, motivate, and encourage development of all internal audit staff.
- Plan and oversee the creation, and production of ceded reinsurance audits, assumed reinsurance audits, and MGA audits.
- Plan and oversee the creation and production of quality control operational audits of the Claims and Underwriting Divisions of ISMIE Mutual, ISMIE Indemnity, and all ISMIE subsidiaries.
- Plan and oversee the creation and publication of the Annual Internal Audit Report and all Division audit reporting.
- Supervise the Claims Monitoring Survey process within Internal Audit.
- Participate in unit and division meetings and decision making.
- Create framework that ensures production of quality work product with all projects.
- Verify the accuracy and consistency of all work product.
- Maintain a constructive working relationship with other divisions in the company.
- Provide quality service in all areas of responsibility.
- Additional duties and responsibilities as required.
- Education and Experience Required for Position:
- Bachelor's degree, preferably in mathematics, economics or risk management.
- Minimum ten (10) years' performing data analytics work experience in insuranceor reinsurance.
- Prior substantive management experience is required.
- Specific Skills Required for Position:•Excellent oral and written communication skills with the ability to communicatefunctionally at all levels.
- Excellent leadership skills.
- Thorough understanding of medical professional liability insurance market andreinsurance.
- Strong analytical skills.
- Ability to make accurate and informed judgments.
- Ability to effectively multi-task, appropriately prioritizing and managing variousinitiatives and responsibilities.
- Ability to perform well in a fast paced, high-intensity, high-pressure environment.
- Ability to handle high levels of stress and complete work with a high sense ofurgency.
- Action oriented with a strong work ethic.
- Professional service-oriented demeanor at all times; Excellent organizational skills.
- Ability to work efficiently and effectively in a remote office environment, asNecessary.•Ability to travel within and outside the state relative to Company initiatives.
- Essential Physical Requirements of Position:
- The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.
- Close visual acuity to read extensive amounts of written information in a standard font for an extended period of time.
- Ability to view and read from computer screens, telephone screens and printed materials.
- Ability to receive detailed information through oral communication.
- Ability to communicate verbally, convey and express complex and detailed ideas, information and instructions to others clearly, accurately, and effectively in person and via telephone.
- Ability to operate a keyboard, computer and computing device.
- Ability to analyze data and information.
- Ability to lead and participate in presentations and meetings.
- Ability to move about to accomplish tasks, attend meetings and scheduled events both inside the office and outside the office.
- Internal Contacts:
Claims
UnderwritingFinanceRisk Management
Information Systems
Management Services
Legal Services
SalesMarketing.
External Contacts:
Reinsurance and Retail/Wholesale Brokers
ReinsurersConsulting Actuaries
Compliance Consultants
InsurTech and Analytics VendorsISMIE InsuredsMGA/MGUsInsurance Companies
Risk Retention Groups
Captive Companies.
Compensation and Benefits:- The pay range is estimated to be $170,000 per year for Chicago residents. *The Company has a robust benefit package. Coverage for benefits will be in accordance with the terms and conditions of the applicable plans, policies and associated governing plan documents.
- The benefit package includes the following:401(k) Retirement Savings Plan
- Medical PlanDental PlanVision Plan
- Healthcare FSA Medical Reimbursement Account
- Health Savings Account
- Life and Accidental Death & Dismemberment Insurance Coverage
- Supplemental Life Insurance Coverage
- Short-term Disability Benefits
- Long-term Disability Insurance Coverage
- Commuter Benefit PlanLegal Services Plan
- Employee Assistance Program
Annual Allotments of Paid Sick, Personal and Vacation TimeEight (8) Paid Holidays*Note: When defining the pay range for this position, several factors are evaluated and considered, including but not limited to experience, education, training, licensure, certifications, skill sets and other business needs. Geographic differentials that correlate with the location where the position may be filled have not been contemplated in the disclosed pay range estimate. Each case is analyzed thoroughly according to the factors noted.
Equal Opportunity Statement:
ISMIE is an Equal Opportunity Employer committed to supporting a diverse and inclusive work environment that promotes respect for all individuals. ISMIE adheres to a policy of non-discrimination based on race, color, ancestry, religion, sex, national origin, sexual orientation, age, citizenship, marital status, disability gender identity, Veteran status, or any other protected status recognized by applicable laws and regulations.
