Director, Risk Finance
Newmont - Denver, CO
posted 4 months ago
About the position
Newmont is the world's leading gold company and a producer of copper, silver, zinc, and lead. The company's world-class portfolio of assets, prospects, and talent is anchored in favorable mining jurisdictions across Africa, Australia, Latin America & Caribbean, North America, and Papua New Guinea. As the only gold producer listed in the S&P 500 Index, Newmont is widely recognized for its principled environmental, social, and governance practices. Founded in 1921 and publicly traded since 1925, Newmont is an industry leader in value creation, supported by robust safety standards, superior execution, and technical proficiency. At Newmont, people create the value in the metals we mine and are ambassadors in the communities where they live and work. We foster an environment that supports our people vision, where everyone belongs, thrives, and is valued. In this role, you will be responsible for managing the operations of the company's captive insurance program and completing insurance procurement activities that align with the risk management program across operations and functions. Your primary focus will be to acquire the most efficient pricing on the annual insurance renewals. You will identify strategic risk transfer opportunities for the company, lead insurance procurement markets, and align functional and operational leadership on cost containment efforts. Additionally, you will advise senior leadership and the Audit Committee on risk finance strategy, ensuring an appropriate understanding of the organization's risk tolerance. You will also support the company's safety and sustainability vision through the Insurance Risk Engineering Program (IREP), which identifies mining industry best practices and recommendations from the insurance market. As a leader, you will guide the risk finance team, identifying top talent and providing support to develop finance leaders with appropriate succession planning. Engaging in the business planning process, you will provide detailed analysis of Newmont's current insurance program positions relative to mining peers and make key decisions on pricing for insurance programs, translating Newmont's risk tolerance and liquidity position into insurance premium savings. This position is hybrid, allowing for both remote and onsite work, with a preferred location at the corporate headquarters in Denver, Colorado. Travel may be required both domestically and internationally as needed.
Responsibilities
- Complete insurance procurement activities aligning with the risk management program across operations and functions to acquire the most efficient pricing on the annual insurance renewals.
- Manage the operations of the company's captive insurance program.
- Identify strategic risk transfer opportunities for the company in support of current operations and future strategies around growth.
- Lead insurance procurement markets through proper marketing efforts, Newmont site visits, and best-in-class operations.
- Align functional and operational leadership on cost containment efforts, efficient collection of insurable claims from Insurers, and expediency of replacing infrastructure in the event of an incident.
- Advise senior leadership and Audit Committee on risk finance strategy with an appropriate understanding of the risk tolerance for the organization.
- Innovate the process of gathering the best pricing available in the insurance market, navigating changing macroeconomic, geopolitical, and environmental impacts on the company.
- Support the company's safety and sustainability vision through the Insurance Risk Engineering Program (IREP).
- Develop and communicate action plans from IREP visits and migrate into the Risk Management System to learn from potential safety risks.
- Provide the proper amount of insurance coverage around D&O and Casualty insurance to protect Newmont from potential threats of shareholder lawsuits or catastrophic safety events.
- Lead the risk finance team, identifying top talent and providing proper support/leadership to develop finance leaders with appropriate succession.
- Engage in the business planning process to understand the output from the business with a view on cost containment and insurance placements tailored to the company's top risk profile.
- Provide detailed analysis of Newmont's current insurance program positions relative to mining peers and annual performance of Newmont's captive insurance company (NGICI).
- Make key decisions on Newmont's pricing for insurance programs, translating Newmont's risk tolerance and liquidity position into insurance premium savings.
- Lead broker relationships, holding third parties accountable for performance and execution.
Requirements
- Bachelor's degree in Finance or a related field.
- Professional insurance licenses and designations are preferred.
- Captive insurance experience specific to the Mining or Extractives industry strongly preferred.
- Proficient with insurance products across countries, industries, and markets.
- Advanced level of proficiency in claims management systems and processes.
- Strong understanding of mining operations and risks in the business.
- High proficiency in written and verbal communications.
Nice-to-haves
- Experience in succession planning.
- Strong organizational skills.
Benefits
- Health savings account
- AD&D insurance
- Disability insurance
- Health insurance
- Dental insurance
- Flexible spending account
- Tuition reimbursement
- Paid time off
- Adoption assistance
- Family leave
- Employee assistance program
- Vision insurance
- 401(k) matching
- Pet insurance
