Job Information
Bose Global Insurance and Credit Risk Manager in Framingham, Massachusetts
You know the moment. It’s the first notes of that song you love, the intro to your favorite movie, or simply the sound of someone you love saying “hello.” It’s in these moments that sound matters most.
At Bose, we believe sound is the most powerful force on earth. We’ve dedicated ourselves to improving it for nearly 60 years. And we’re passionate down to our bones about making whatever you’re listening to a little more magical.
At Bose, we are entirely self-funded, and enabling growth year after year takes careful planning, talent, capability, and passion. Through a broad variety of specialties and disciplines, the Finance team enables the business to make the decisions and investments, at the right times, to ensure the long-term financial viability of the company.
Job Description
Leadership:
As an integral part of the finance organization, the Manager contributes to strategic decision-making and risk management initiatives.
Responsible for managing global credit risk function comprising of Accounts Receivable balance of $600-900M and a team of Credit Analysts.
Full ownership of the company’s Captive insurance entity, ensuring its effective operation and alignment with organizational goals.
Insurance Portfolio Management & Renewals:
Manage the company’s portfolio of global insurance policies, including core property and casualty coverages, including managing the professional and financial insurance coverages.
Collaborate with functional teams (e.g., factories, business units, accounting/finance) to prepare the corporate global insurance budget and entity allocations.
Manage the annual insurance renewal process by establishing aggressive but realistic renewal timelines and work closely with the insurance to meet renewal timelines. Benchmarks the insurance programs as needed. Presents renewals options to CFO and other executives and make recommendations for binding.
Ensures no insurable coverage gaps exist without consent from executive management.
Coverage Compliance and Documentation:
Reviews insurance binders, policies, and endorsements for accuracy and ensures all relevant documents are stored in the team’s shared drive.
Coordinate invoicing processes and manages the insurance brokers on completion of all post-renewal actions items including carrier subjectivities as well as the updating of insurance summaries and payment of invoices within established deadlines
Respond promptly to requests for certificates of insurance.
Loss Control, Acquisition Due Diligence & Credit Risk Management:
Oversees the management of all Company claims and directs the development and implementation of loss control programs for the core property & casualty insurance coverages.
Assists in conducting acquisition risk/insurance due diligence and ensures consolidation into the corporate insurance programs.
Evaluate financial statements of new and existing customers to assess credit risk/exposure.
Other:
Review insurance clauses in leases and contracts.
Propose appropriate wording for insurance and indemnification clauses.
Stay informed about insurance market trends and their impact on policy coverage.
Lead and support other projects as needed
Required Experience, Education, Skills and Competencies
Bachelor's Degree, preferably in business or risk management, Master’s Degree desirable
Minimum 8-10 years relevant experience in finance, insurance and/or risk management.
Proficiency in ERP system, Microsoft Word and PowerPoint; Strong Excel skills required
Excellent verbal and written communication skills
Comprehensive understanding of insurance policy coverage
Ability to work as part of a team, as well as with all levels of management throughout the company
Detail oriented and organized with strong focus on data accuracy
Ability to meet tight deadlines and handle multiple tasks/projects
Demonstrated analytical curiosity and strong problem-solving skills; able to elicit and comprehend quantitative and qualitative information
Our goal is to create an atmosphere where every candidate feels supported and empowered in the interviewing process. Diversity and inclusion are integral to our success, and we believe that providing reasonable accommodation is not only a legal obligation but also a fundamental aspect of our commitment to being an employer of choice. We recognize that individuals may have different needs and requirements based on their abilities, and we provide reasonable accommodations to ensure ideal conditions are met during the application process.
If you believe you need a reasonable accommodation, please send a note to wellbeing@bose.com
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Bose is an equal opportunity employer that is committed to inclusion and diversity. We evaluate qualified applicants without regard to race, color, religion, sex, sexual orientation, gender identity, genetic information, national origin, age, disability, veteran status, or any other legally protected characteristics. For additional information, please review: (1) the EEO is the Law Poster (http://www.dol.gov/ofccp/regs/compliance/posters/pdf/OFCCP_EEO_Supplement_Final_JRF_QA_508c.pdf); and (2) its Supplements (http://www.dol.gov/ofccp/regs/compliance/posters/ofccpost.htm). Please note, the company's pay transparency is available at http://www.dol.gov/ofccp/pdf/EO13665_PrescribedNondiscriminationPostingLanguage_JRFQA508c.pdf. Bose is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation because of a disability for any part of the application or employment process, please send an e-mail to Wellbeing@bose.com and let us know the nature of your request and your contact information.
Our goal is to create an atmosphere where every candidate feels supported and empowered in the interviewing process. Diversity and inclusion are integral to our success, and we believe that providing reasonable accommodation is not only a legal obligation but also a fundamental aspect of our commitment to being an employer of choice. We recognize that individuals may have different needs and requirements based on their abilities, and we provide reasonable accommodations to ensure ideal conditions are met during the application process.
If you believe you need a reasonable accommodation, please send a note to wellbeing@bose.com
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We’re a company built on disruptive innovation—having the courage to challenge the status quo, an unwavering commitment to our customers, and the fundamental belief that anything is possible. We never settle; we have a passion for discovering better ways to help people enjoy the things they love. We need people like you, people with better solutions. If you join us, you’ll find the opportunity to do your best work and the freedom to enjoy it. Here, every employee has the opportunity to build their own success and contribute to ours. It’s an atmosphere of trust, collaboration, high expectations, and great reward.