Penn State Job Catalog

Additional levels that exist for this job profile can be seen below.
Missing levels within the leveling matrix can be added based on business need.

The defined natural career progression within or between job profiles.

Risk Management

The Risk Management Specialist supports the University's enterprise risk management, commercial insurance, captive insurance, claims administration, and litigation management functions; identifies and evaluates institutional risk exposures; administers insurance, claims, and litigation activities; collaborates with internal and external stakeholders to develop risk financing, transfer, mitigation, and compliance strategies that reduce operational, financial, strategic, and reputational risk; works in partnership with the Office of General Counsel, insurers, brokers, and third-party administrators (TPAs); provides expertise in commercial insurance, contractual risk transfer, captive insurance operations, incident response, claims oversight, and litigation management; serves as a key resource across academic, research, healthcare, operational, and administrative units to support proactive risk management and institutional compliance.

• Implement and administer the University's commercial insurance and self-insurance programs in collaboration with risk management leadership
• Identify and evaluate institutional exposures and insurance coverage needs across academic, research, healthcare, and operational activities
• Collaborate with brokers, insurers, and underwriters regarding insurance renewals, underwriting submissions, policy placement, and program design
• Assist in the administration and operation of the University's captive insurance company, including underwriting support, claims coordination, reserving, and reporting activities
• Review and evaluate insurance and indemnification provisions in contractual agreements and develop standard insurance requirements for University contracts
• Provide guidance regarding contractual risk transfer, certificates of insurance, additional insured requirements, waivers of subrogation, and related liability exposures
• Coordinate claims investigations, incident reporting, liability determinations, and claims reporting to insurers and TPAs
• Assist in the management of litigation matters, including coordination with outside counsel, insurers, TPAs, and the Office of General Counsel
• Review legal documents, support defense strategy discussions, and participate in mediations, arbitrations, settlement conferences, and related proceedings, as appropriate
• Develop and maintain claims handling workflows, policies, procedures, and best practices
• Analyze incident, claims, litigation, and insurance data to identify trends and support risk mitigation and loss prevention efforts
• Respond to significant incidents or claims and coordinate communication among risk management, legal, compliance, and operational stakeholders
• Participate in risk assessments, committees, and strategic initiatives to provide risk management guidance related to risk avoidance, mitigation, transfer, and acceptance
• Support risk and insurance due diligence activities related to acquisitions, affiliations, partnerships, and other institutional initiatives
• Prepare financial reports, loss analyses, presentations, and other management reporting materials
• Ensure compliance with applicable insurance, claims, litigation, and regulatory requirements
• Conduct outreach and training related to risk management, incident reporting, insurance coverages, and contractual risk transfer practices
• Serve as a risk management and commercial insurance resource for University stakeholders
• Maintain awareness of industry trends, emerging risks, and regulatory developments affecting higher education, healthcare, and research enterprises
• May supervise staff members, including hiring, development, and performance management

Level:

– Senior Professional

Base Description:

– Completes activities, tasks, and/or projects of a functional nature.

Level Summary:

– Demonstrates advanced knowledge of principles, practices, and procedures of a particular field. Works independently on moderately complex work assignments under limited oversight, reviews progress, and evaluates results. Monitors work and projects ensuring timeliness, quality, and efficiency. Identifies and mobilizes resources to achieve outcomes. Trains others and reviews progress with management. Presents ideas, concepts, and instructions in a clear and persuasive manner. Develops new techniques, concepts, and approaches and applies them to moderately complex and strategic and/or operational issues.

Supervisory Responsibilities:

– Indirect supervisor for other full–time employees
– May serve as direct supervisor for part–time, student, and/or temporary workers, volunteers, or a full–time employee

Fiscal Responsibilities:

– May validate and pay invoices
– Monitors and tracks budgets and funding

Problem Solving:

– Encounters moderately complex problems
– Applies specialized knowledge and skills to resolve problems
– Understands benefits, limitations, and impact of potential solutions

Independence of Action:

– Works independently on moderately complex work assignments, reviews progress, and evaluates results
– May set priorities and organize work within general guidelines established by supervisor
– May review the work of others to verify accuracy and conformance to required procedures and special instructions

Communication and Collaboration:

– Communicates internally within working unit and the University
– Communicates with external audiences for scheduling/coordination
– May communicate with external audiences for business purposes
– Coaches others in using appropriate strategies for resolving conflict; negotiating reasonable compromises; and proposing and evaluating possible solutions
– Give candid and constructive feedback to others to influence and persuade managers and employees to accept and implement findings and recommendations

• Comp Grade – 14
• Minimum – $102,936.00
• MidPoint – $128,688.00
• Maximum – $154,452.00

• Benchmarking
• Contract management
• Critical Thinking
• Data Analysis
• Document management
• Facilitation
• Legal research
• Program management
• Regulatory compliance
• Risk Management
• Underwriting
• Vendor management