Associate Director, Global Insurance and Risk Management

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Job Description

At Takeda, we are driven by our purpose: to create better health for people and a brighter future for the world. As a global, values-based biopharmaceutical leader, we put patients at the center of everything we do. Our mission is to discover and deliver life-transforming treatments, guided by integrity, innovation, and a commitment to sustainability. Join us and be part of a collaborative culture that empowers you to make a meaningful impact on global health.

About the Role

• Working closely with the Head of Global Insurance and Risk Management to support the development, implementation, and management of the Global Risk Financing Strategy and ensuring there is alignment with the overall group strategy.
• Lead specific Global Insurance Programs and the end- to-end claims lifecycle.

• Ensure compliance with and adhere to all global regulations and legislation.
• Perform role of subject matter expert for the business in specific areas of Global Insurance responsibilities and has in depth and /or breadth of expertise in own disciplines with the function and wider business.
• Working as a team player and closely with key internal and external stakeholder groups.
• Involved in developing, modifying, and executing company policies or solving unique and complex problems that have a broad impact on the business, that affect immediate operations, disciplines, or other BU’s/ BF’s/ Regions

ACCOUNTABILITIES

Key Responsibilities:

• US/ Global Insurance Program Management
  • Proactively manage appointed US global brokers, driving performance to service level agreements.
  • Ensure Takeda employees, assets and liabilities are protected in line with global insurance placement strategy.
  • Lead negotiation of the terms, and implementation of key US insurance program and some global insurance program (including Workers Compensation, Automobile Liability, Cyber Liability)
  • US construction/ CAPEX risk management approach and placement of project policies.
  • Oversee and act as an escalation point when required for other Global Insurance Programs and risk processes across the group.
  • Support and oversee the management of our main appointed US broker.
  • Continuously improve, Develop, implement, and lead the global premium allocation process for programs in compliance with regulations and transfer pricing regulations
  • Negotiation of/ oversee reinsurance agreements and KPI’s
  • Actively lead arrangements for Stewardship meetings with lead insurers and other external partners.
  • Oversee, and lead the annual, underwriting data gathering and analysis strategy for specific insurance programs.
  • Lead strategy and production of underwriting submissions and support any  market presentations.
  • Proactively manage and grow existing long-term relationships with global insurers

• Business Support Lead
  • Serve as a Centre of Excellence on insurance and insurance policy and risk management related issues. Provide leadership and consultative expertise for a defined region or business.
  • Anticipate internal and/ or external business challenges and/ or regulatory issues; recommend process or service improvements.
  • Support the discussions with external captive management on renewals, documentation and claims processes.
  • Contract Management –support to the business on referrals for insurance clause review, indemnification, and limits of liability discussion. 
  • Develop and update contract management guidance use by Legal, Procurement and any other business stakeholders as and when required.

• Risk Management
  • Provide direction on claims management strategy
  • Evaluation of small to large exposure claims with TPA’s and claims handlers
  • Liaison with Takeda Legal Counsel on claims management procedure and litigated claim strategy
  • Communication with site stakeholders and carrier claims teams
  • Invoice and settlement payment reconciliation
  • Preparation of open claims reports across multiple lines of business
  • Claims audit and review activities
  • Support Risk Engineering Program - actively working with GIRM team and GMS Engineering Lead to support the business with fire risk engineering Support CAPEX Insurance Process and Engineering Plan Reviews
  • Lead/ Support GIRM risk projects from time to time
  • Support the business on critical global contractual risk reviews and determine appropriate types and level of insurance

• Additional Responsibilities:
  • Responsibility for/ Oversee (with support from GIRM team) the development and implementation of any insurance Management Information systems using them to streamline insurance administration, driving out time and cost
  • Deliver Global Insurance awareness training to key internal stakeholder groups
  • Participate in and lead ad hoc risk management and other business projects as required
  • Onboarding and training of GIRM team (new members or when new initiatives/ processes are implemented)

EDUCATION, BEHAVIOURAL COMPETENCIES AND SKILLS:

• Bachelor's degree required, preferably with a concentration in Economics, Finance, Business, Law.

• Strong experience in insurance risk management role in insurance/ risk industry (client facing or as a buyer)
• Strong understanding of global insurance programs and client servicing
• Knowledge and expertise of the global insurance markets
• Knowledge of global insurance legislation, regulations and local market practice
• Strong US network within the broking and insurer communities
• Association of Chartered Insurance Institute qualified or part qualified or Degree/ Alternative strong and relevant academic achievements.
• Life Sciences Sector experience preferred, (but not essential)

• Key Skills and Competencies:
  • Drive and self-motivation
  • Excellent Organizational and Project management skills
  • Strong Communication and interpersonal skills and ability to build and manage senior internal and external relationships
  • Adaptability and capacity to work under pressure
  • Strong Technical insurance knowledge
  • Decision making and strong negotiation skills
  • Emotional Intelligence
  • Ability to work independently, with guidance in the most complex situations

ADDITIONAL

• Other Requirements:
  • International travel from time to time
  • Location: Cambridge, MA
  • This is a hybrid role with onsite work expectations of at least 8 days per month therefore candidates must live within a commutable distance of Takeda’s Cambridge, MA office.

Takeda Compensation and Benefits Summary

We understand compensation is an important factor as you consider the next step in your career. We are committed to equitable pay for all employees, and we strive to be more transparent with our pay practices. 

For Location:

Cambridge, MA

U.S. Base Salary Range:

$154,400.00 - $242,550.00

The estimated salary range reflects an anticipated range for this position. The actual base salary offered may depend on a variety of factors, including the qualifications of the individual applicant for the position, years of relevant experience, specific and unique skills, level of education attained, certifications or other professional licenses held, and the location in which the applicant lives and/or from which they will be performing the job. The actual base salary offered will be in accordance with state or local minimum wage requirements for the job location. 

U.S. based employees may be eligible for short-term and/ or long-term incentives. U.S. based employees may be eligible to participate in medical, dental, vision insurance, a 401(k) plan and company match, short-term and long-term disability coverage, basic life insurance, a tuition reimbursement program, paid volunteer time off, company holidays, and well-being benefits, among others. U.S. based employees are also eligible to receive, per calendar year, up to 80 hours of sick time, and new hires are eligible to accrue up to 120 hours of paid vacation. 

EEO Statement

Takeda is proud in its commitment to creating a diverse workforce and providing equal employment opportunities to all employees and applicants for employment without regard to race, color, religion, sex, sexual orientation, gender identity, gender expression, parental status, national origin, age, disability, citizenship status, genetic information or characteristics, marital status, status as a Vietnam era veteran, special disabled veteran, or other protected veteran in accordance with applicable federal, state and local laws, and any other characteristic protected by law.

Locations

Cambridge, MA

Worker Type

Employee

Worker Sub-Type

Regular

Time Type

Full time

Job Exempt

Yes

It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.