Insurance Risk Manager Jobs in Elgin, IL (NOW HIRING)

POSITION SUMMARY:

The Accounting Director IAD Division Accounting & MEUH Group Insurance is responsible for leading all accounting, financial reporting, internal control, and compliance activities related to the Industrial Automation Division (IAD) within Mitsubishi Electric US, Inc. (MEUS). In addition, the position serves as the Mitsubishi Electric US Holdings (MEUH) Group Risk Manager, providing leadership and oversight of the company's insurance programs, enterprise risk management activities, claims administration, and risk mitigation strategies across MEUH and its affiliated entities.

The essential functions of the position include, but are not limited to the following:

IAD Division Accounting & Financial Management

• Lead all accounting activities for the IAD division.
• Oversee monthly, quarterly, and annual financial close processes for IAD.
• Ensure accurate recording and reporting of sales, inventory, operating expenses, fixed assets, accruals, and intercompany transactions.
• Review and approve journal entries, account reconciliations, and financial analyses.
• Coordinate month-end reporting and consolidation submissions to MEUS and MEUH.
• Partner with IAD operations, sales, engineering, and management teams to provide financial guidance and business support.
• Analyze financial results and explain significant variances against budget, forecast, and prior year.
• Support annual budgeting, forecasting, and strategic planning processes.
• Monitor compliance with accounting policies, corporate standards, and internal controls.

MEUH Group Insurance & Risk Management

• Serve as the MEUH Group Risk Manager, responsible for the development, implementation, and oversight of enterprise risk management strategies across MEUH and its subsidiaries.
• Lead the administration and governance of all MEUH Group insurance programs, including property, casualty, workers' compensation, automobile, cyber liability, directors and officers (D&O), employment practices liability (EPLI), employee benefits-related coverages, and other corporate insurance programs.
• Develop and maintain a comprehensive framework to identify, assess, mitigate, and monitor business risks across MEUH entities.
• Partner with executive management to evaluate operational, financial, legal, regulatory, cybersecurity, and strategic risks and recommend appropriate mitigation strategies.
• Serve as the primary liaison with insurance brokers, carriers, claims administrators, legal counsel, and risk management consultants.
• Lead annual insurance renewals, coverage evaluations, policy negotiations, and risk financing initiatives to ensure adequate coverage and cost-effective protection for the organization.
• Manage accounting and financial reporting for insurance premiums, allocations, accruals, reserves, deductibles, recoveries, and claim settlements.
• Develop and oversee insurance cost allocation methodologies among MEUH entities and business units.
• Coordinate and manage significant insurance claims, ensuring timely reporting, documentation, resolution, and accounting treatment.
• Monitor evolving risk exposures and recommend changes to insurance structures, coverage limits, retention levels, and loss prevention programs.
• Provide regular updates and risk assessments to executive leadership regarding emerging risks, claims activity, insurance market trends, and risk mitigation initiatives.
• Collaborate with Human Resources, Legal, IT, Operations, and Finance leaders to strengthen enterprise risk management practices and business continuity planning.
• Support crisis management, incident response, and disaster recovery planning efforts across the MEUH organization.
• Develop policies, procedures, and internal controls related to risk management and insurance governance.
• Perform other duties as assigned.

Leadership & Talent Development

• Lead and develop accounting staff assigned to IAD and related activities.
• Establish departmental goals, performance metrics, and development plans.
• Promote a culture of accountability, collaboration, and continuous improvement.
• Provide coaching, mentoring, and technical guidance to team members.
• Participate in organizational initiatives, system implementations, and special projects.

EDUCATION AND EXPERIENCE:

Required

• Bachelor's degree in Accounting, Finance, Business Administration, Risk Management, or a related field required.
• Minimum 10 years of progressive accounting, finance, corporate controllership, or risk management experience.
• Minimum 5 years of leadership experience managing accounting, finance, or corporate risk management teams.
• Experience serving as a divisional controller, accounting leader, finance business partner, or similar leadership role supporting a business unit or operating division.
• Experience in manufacturing, industrial, automation, distribution, technology, or multi-entity corporate environments preferred.
• Demonstrated experience managing corporate insurance programs, enterprise risk management initiatives, claims administration, and broker relationships.
• Experience evaluating and mitigating operational, financial, regulatory, legal, cybersecurity, and strategic risks.
• Experience developing insurance allocation methodologies and managing insurance-related budgeting, accounting, and financial reporting.

Knowledge, Skills & Abilities

• Strong knowledge of U.S. GAAP, internal controls, and compliance requirements.
• Experience supporting internal and external audits, including remediation of control deficiencies.
• Experience with SAP or other ERP systems required.
• Strong technical accounting and financial reporting expertise.
• Thorough understanding of enterprise risk management principles and corporate insurance programs.
• Ability to identify, assess, and mitigate business risks while balancing operational and strategic objectives.
• Strong business acumen and ability to serve as a trusted advisor to senior leadership.
• Excellent analytical, problem-solving, and decision-making skills.
• Effective negotiation and relationship management skills, particularly with insurance brokers, carriers, consultants, auditors, and external advisors.
• Strong project management and organizational capabilities with the ability to manage multiple priorities simultaneously.
• Excellent written, verbal, and presentation skills, including the ability to communicate complex financial and risk-related matters to executive leadership.
• Demonstrated leadership ability with a track record of building, developing, and motivating high-performing teams.
• Commitment to continuous improvement, operational excellence, and strong governance practices.

Preferred (Certifications)

• CPA strongly preferred.
• MBA, Master's degree in Finance, Risk Management, or related discipline preferred.
• Professional risk management designations such as ARM (Associate in Risk Management), CRM (Certified Risk Manager), CPCU (Chartered Property Casualty Underwriter), or equivalent certifications are desirable.

The pay range for this position at commencement of employment is expected to be between $149,600/yr. and $205,700/yr.; however, base pay offered may vary depending on multiple individualized factors, including market location, job-related knowledge, skills, and experience. The total compensation package for this position may also include other elements, including commissions based on achieving individual performance and/or sales metrics, incentive compensation and discretionary awards in addition to a full range of medical, financial, and/or other benefits (including 401(k) eligibility and various paid time off benefits, such as vacation, sick time, and parental leave), dependent on the position offered. Details of participation in these additional compensation and benefit plans will be provided if an employee receives an offer of employment.

If hired, employee will be in an at-will position and the Company reserves the right to modify base salary (as well as any other discretionary payment or compensation program) at any time, including for reasons related to individual performance, Company or individual department/team performance, and market factors.

In compliance with federal law, all persons hired will be required to verify identity and eligibility to work in the United States and to complete the required employment eligibility verification document form upon hire.

We are an equal employment opportunity employer. All employment decisions are made without regard to race, color, religion, sex, pregnancy, breastfeeding or related medical condition, national origin, ancestry, citizenship, age, marital status, sexual orientation, gender identity, gender expression, domestic partnership, physical disability, mental disability, medical condition, genetic characteristic or information, military or veteran status or other legally protected status (except when one of these criteria is a legally permissible bona- fide occupational qualification).

The Company will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the Company, or (c) consistent with the Companys legal duty to furnish information.

To view the EEO is The Law Poster and the supplement, please visit www.dol.gov/sites/dolgov/files/ofccp/regs/compliance/posters/pdf/OFCCP_EEO_Supplement_Final_JRF_QA_508c.pdf

To view the Notice to Job Applicants and Employees regarding San Francisco's Fair Chance Ordinance and the Know Your Rights poster please visit www.sfgov.org/olse/sites/default/files/FCO%20poster2020_0.pdf

Applicants with a disability who need assistance with the application process may contact Human Resources by email at employment@meus.mea.com or by calling 714.229.3813.