Director of Insurance and Financial Risk Management
Location: Indianapolis, Indiana
Type: Full Time
Preferred Education: Masters
This position is responsible for managing all aspects of the Association’s $23 million portfolio of insurance programs and oversight of related financial risk mitigation programs. The position supervises the activities of multiple insurance and risk management brokers/consulting firms.
Procure and manage the NCAA portfolio of business insurance, approximately $8 million in annual expense and over 25 individual policies and determine coverage adjustments when necessary to address emerging risks and changes in the organization’s risk appetite.
Procure and manage the DI men’s basketball championship revenue protection and Final Four hotel obligations insurance programs; an approximately $2 million annual expense.
Manage the NCAA Catastrophic Injury Insurance Program, an approximately $12 million annual expense, and the NCAA Self-Funded Student-Athlete Injury Benefit Program. Provide continuing membership education and any necessary policy recommendations in order to maintain a quality program with superior service for NCAA student-athletes and membership while continually seeking coverage and service enhancements.
Manage the NCAA Exceptional Student-Athlete Disability Insurance Program with program administrators and provide continuing membership education on topic of student-athlete disability and related insurance.
Serve as the Association’s subject matter expert and resource for all inquiries related to insurance and financial risk management, including direct contact for university administrators, conference commissioners, and senior NCAA leadership.
Collaborate with NCAA risk management stakeholders to manage the Association’s financial risk mitigation practices related to participant waivers, third-party contract review, and insurance certificate issuance.
Manage all insurance claims, file claims on the appropriate policies and act as liaison between NCAA legal counsel, insurance advisor, and insurance carrier regarding coverage for legal expenses. Ensure all claims details are adequately maintained in the claims management system and insurance carriers are appropriately notified of status of litigation and the claims costs as required by policy provisions. Assist the legal affairs group in monitoring external counsel’s adherence to litigation guidelines. Track, receive, and reconcile all insurance claim payments.
Provide forecast of legal case reserves, in conjunction with legal affairs group, to inform and advise Finance staff on appropriate cash reserves and declarations on financial statements.
Collect, review and track insurance certificates to ensure compliance with contractual requirements and NCAA bylaws pertaining to championships, bowl games and exempted contests insurance requirements.
In collaboration with the Communications group, handle all membership, media and general public information requests relating to the Association’s risk management and student-athlete insurance programs. Responsible for clear, complete and accurate communication of program specifics and value to the membership.
Develop and monitor reporting for insurance programs, including development and evaluation of vendor performance plans and trending data.
Manage all insurance and risk management providers, including contract oversight and performance to metrics.
Manage the various legal documentation requirements and process related to the NCAA Championships and Ancillary Event Alcohol Sales Policy and serve on committee granting policy exceptions and determinations.
Consult with NCAA staff and broadcast partners to ensure effective risk management protocols are in place for fan festivals, youth events and academies, and other ancillary events.
Prepare, recommend, and manage annual budget of nearly $23 million and provide timely and accurate financial forecasting and reporting of metrics.
Other projects as assigned. Examples include conducting value-added projects, surveys, and research for the membership, and serving as resource to committees, working groups, and other constituencies on topical issues.
The National Collegiate Athletic Association is a member-led organization dedicated to the well-being and lifelong success of college athletes. NCAA schools award nearly $3.5 billion in athletic scholarships every year and provide vast support to help student-athletes graduate at a rate higher than their general student peers.
More than 500,000 college athletes across all three divisions compete for about 1,100 member schools in all 50 states, the District of Columbia, Puerto Rico and even Canada. Regardless of where they start, student-athletes strive to end each season at one of the NCAA’s 90 championships in 24 sports.
The employees at the NCAA’s national office oversee all championships, manage programs that benefit student-athletes and support member committees that make rules and policies for college sports. Member schools and conferences ultimately decide which rules to adopt for their division — everything from recruiting and compliance to academics and championships.