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Lowe's Dir-Insurance in Mooresville, North Carolina

The primary purpose of this role is to execute risk financing strategies aligned with Lowe’s corporate risk

appetite and philosophy. This is done largely through placement and management of corporate

property, casualty, and executive risk insurance programs. In addition, this person develops and

manages insurance requirement frameworks supporting contractual risk transfer. This role leads a team

that works closely with the Office of Enterprise Risk Management, Finance, Business Continuity, Claims

and other internal business units with identifying risk, risk transfer or mitigation strategies, and other

options related to company operations and initiatives.

Key Responsibilities:

• Manages placement of corporate property, casualty, and executive risk insurance programs with annual premium budget of $25M and program limits of $500M

• Directs the analytic functions that drive the pricing process; leads the compilation and analyses of data (e.g., YOY comparisons, loss histories, operational changes) required for underwriting corporate insurance programs, interpreting the data and making conclusions.

• Provides subject matter expertise and support for senior leaders to execute risk management responsibilities.

• Works closely with Sr. Director of Enterprise Risk Management to assist in assessing enterprise risk and develop mitigation strategies.

• Lead annual discussions with underwriters highlighting Lowe’s evolving exposures and risk management practices to ensure the most competitive pricing for property and casualty lines; partner with other internal leaders to execute this for executive and financial insurance lines.

• Will maintain strategic insurance carrier relationships important to the execution of Lowe’s current and long-term coverage needs.

• Leads process to validate or update enterprise risk appetite and philosophy by engaging senior leaders with quantifiable data of insurable risks (loss history/modeling, market pricing, benchmarking, etc.)

• Engages insurance brokers in strategy sessions to ensure understanding of Lowe’s operations and to elicit recommendations regarding program structure and insurer selection.

• Develops and executes risk financing strategies aligned with enterprise risk philosophy; engages leadership and other business partners to ensure alignment.

• Leverages a deep understanding of risk, insurance markets, best practices, enterprise exposures combined with benchmarking, industry trends, loss modeling to identify the most effective insurance solutions.

• Maintains a close watch on industry trends, evolving insurance strategies and market health to ensure Lowe’s is remaining consistent with and taking full advantage of changes in the insurance environment.

• Leads the analytics of loss data to understand and predict renewal challenges and identify gaps in coverage.

• Manages placement of programs for international operations, including Canada, China, and India.

• Leads the international businesses in identifying, assessing, and mitigating risk through placement of insurance policy or contractual risk transfer.

• Responsible for facilitating various captive duties; reconciliations, transfers, payments, annual audit, etc.

• Performs insurance and risk due diligence as required to support M&A activity under very tight timelines and strict confidentiality, including insurance program review, analysis and advisement to the M&A team.

• Maintains strong working relationships with leadership in internal business units in order to identify the risks inherent to strategic initiatives and that are material to company’s insurable risks.

• Serves as the key technical resource and internal consultant on insurance and other risk transfer options.

• Leads the insurance-focused contract review process, identifies operational and contractual risks, and makes recommendations to assist internal partners with management options and risk decisions; actively supports the negotiation of key contractual provisions that create or transfer risks.

• Develops and oversees framework of third-party insurance requirements and manages execution through internal partnerships with procurement, legal and merchandise

• Manages process for various administrative and technical reviews including accuracy of policies, endorsements, invoices, premium audits.

• Identifies process solutions related to vendor certificate management and communication of Lowe’s insurance programs and documentation to corporate and retail locations.

Required Qualifications:

• Bachelors Degree in Finance, Risk Management, Accounting or related discipline

• 10 Years Experience performing Risk Management activities within a relevant corporate business function (e.g., Legal, Finance) or within the commercial insurance industry

• 5 Years Experience reviewing contracts

• 5 Years Leadership experience with direct report responsibility

• Strong organizational skills with the ability to multitask on several projects simultaneously and selfmanage activities.

• Strong problem solving skills with the ability to resolve issues.

• Demonstrated experience working closely in a consultative role with executive management

• Demonstrated experience coordinating projects and collaborating with cross functional teams

• Strong knowledge and experience with the technical aspects of insurance policies and coverage including key financial and actuarial metrics.

• Must also understand legal contracts and provide extensive direction and insight to internal (primarily) and external partners.

Preferred Qualifications:

• Certification Associate in Risk Management (ARM) professional designation

• Experience in enterprise risk management and commercial insurance claims

EEO Statement

Lowe’s is an equal opportunity employer and administers all personnel practices without regard to race, color, religious creed, sex, gender, age, ancestry, national origin, mental or physical disability or medical condition, sexual orientation, gender identity or expression, marital status, military or veteran status, genetic information, or any other category protected under federal, state, or local law.