Director, Risk Management (Insurance)

Job Description

It’s an exciting time to be part of the IFF family! We are a global leader in taste, scent and nutrition, offering our customers a broader range of natural solutions and accelerating our growth strategy. IFF is very excited to welcome a new Risk Director (Insurance) to our team, and we hope it’s you!

In this role you will report to the VP, Treasurer (based in US) and are expected to collaborate and work with the Global Treasury Team based in Asturias, Spain. You will manage the IFF Global Insurance Program, including insurance placements / renewals for IFF, Inc. and its subsidiary entities. 

 
Summary of your key tasks:

You will assume lead management of IFF’s Global Insurance Program including:

• Analyze and assess the impact of risks of loss arising out of IFF’s business operations.
• Stay abreast of Company’s business and operational changes impacting the risk subject to insurance.
• Evaluate, select and develop appropriate risk control and risk finance techniques to minimize pure loss impact.
• Direct, coordinate, and negotiate insurance placements for IFF, subsidiaries and affiliates. Lead annual renewal of Global policies with IFF’s insurance broker: Marsh.
• Oversight of monthly, quarterly and annual transactions. Review invoices, binders and policies for accuracy.
• Deliver succinct presentations for internal and external audiences on IFF’s corporate insurance programs, operations, and risk management programs.
• Find opportunities to implement improvements to the Program including processes and use of best practices, demonstrating a commitment to continuous improvement.
• You will develop insurance risk reports: Casualty insurance loss runs with analysis, track changes in Company’s exposure impacting insurance rates; profit & loss statements, and insurance expense budget estimates with appropriate support.
• Review IFF’s service provider/vendor, special events and real estate contracts to assess the operational risks and advise on the appropriate amount and type of insurance recommended. Provide insurance guidance in line with indemnity and hold harmless sections or the contract. Review COI and/or policies if needed to assist Company’s business unit.
• You will communicate and manage a smooth insurance transition to IFF’s corporate insurance programs on mergers and acquisitions and off IFF’s corporate programs on divestitures.
• Annually assess controls in place for managing risks arising out of Corporate Insurance department’s operations and processes. Develop and propose solutions to address accordingly to the Treasurer.
• You will support “run and maintain” operations for IFF’s Enterprise Risk Management program, with opportunity to take more of lead role overtime.
   

Your qualifications:

• University degree. Additional consideration given to candidates with a master's degree.
• Fully fluent English language skills.
• Insurance designation not required but helpful: CPCU, RIMS-CRMP, RPLU, ARM, etc. and/or insurance broker license.
• You will bring several years work experience in the insurance industry – functioning as insurance risk analyst/manager, underwriter, claims analyst, insurance broker, or insurance consultant.
• We will rely in your comprehensive working knowledge of insurance coverage in casualty lines, professional and management liability lines.
• You have the ability to work both independently with little supervision as well work in a team dynamic.
   

Location: Oviedo, Asturias. Hybrid working model.
 

At IFF, we believe that your uniqueness unleashes our potential. We are proud to be an Equal Opportunity Employer and are committed to providing a diverse and inclusive workplace. Visit IFF.com/careers to learn more about our Equality Policy.

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