Director Self Insurance Operations

Job description

Primary City/State: Phoenix, Arizona Department Name: Risk Financing & Ins Programs Work Shift: Day Job Category: Risk, Quality and Safety At Banner Health, caring is at the heart of everything we do. Guided by our mission to “make health care easier, so life can be better” we strive to foster well-being in the workplace and our communities. We are honored to have earned Great Place To Work® Certification™ for a third year in a row. Great Place To Work certification is the definitive "employer of choice" recognition. This globally recognized benchmark celebrates organizations that deliver an exceptional employee experience. At Banner Health, one of the largest nonprofit health systems in the United States, the Risk Finance & Operations department plays a critical role in protecting the organization's financial strength and operational resilience. This team is responsible for the end-to-end financial strategy and oversight of Banner's enterprise-wide risk exposures, spanning professional liability, general liability, property, workers' compensation, auto, cyber, and beyond. From structuring and managing complex insurance programs to overseeing self-insurance and captive insurance entities, the department ensures Banner is strategically positioned to retain, transfer, and finance risk in the most effective way possible. The team conducts actuarial analysis and loss forecasting, manages risk financing vehicles such as letters of credit and surety bonds, and collaborates closely with Finance and Treasury on risk related financial reporting. With a sophisticated risk management information system at its core, the department delivers powerful claims and insurance data analytics, including loss trends, claim performance, exposure analysis, and benchmarking that drive informed decision making across the organization. As the Director of Self Insurance Operations, no two days look exactly alike. You might begin your morning reviewing regulatory filings or reserving data across Banner's multi-state self-insurance programs in Arizona, Colorado, Ohio, Wyoming, and Washington, then transition into collaborating with recruiting, credentialing, and medical staff services teams to evaluate physician candidates through the professional liability eligibility program. Midday could bring preparation of board materials for the captive insurance company or advising senior leadership on risk transfer strategy, balancing the nuances of risk retention versus risk assumption. Afternoons might involve overseeing underwriting activities, coordinating with external actuaries and captive managers, or leading cross-functional working groups to drive operational excellence across the enterprise. This is a role for a strategic thinker and collaborative leader who is passionate about supporting Banner Health's mission to make health care easier, so life can be better. Schedule is generally Monday - Friday 8am - 5pm AZ Time Your pay and benefits are important components of your journey at Banner Health. This opportunity includes the option to participate in a variety of health, financial, and security benefits. In addition, this position may be eligible for our Management Incentive Program as part of your Total Rewards package. Within Banner Health Corporate, you will have the opportunity to apply your unique experience and expertise in support of a nationally-recognized healthcare leader. We offer stimulating and rewarding careers in a wide array of disciplines. Whether your background is in Human Resources, Finance, Information Technology, Legal, Managed Care Programs or Public Relations, you'll find many options for contributing to our award-winning patient care. POSITION SUMMARY This position provides strategic leadership and executive oversight for Banner Health's enterprise-wide self-insurance programs, including Banner Indemnity, Ltd. (BIL) captive insurance company. Partnering with the Risk Finance Senior Director, this role is accountable for developing, implementing, and optimizing comprehensive risk financing strategies that directly impact Banner Health's financial performance and organizational risk exposure across all facilities and multiple state jurisdictions. This role serves as a subject matter expert and strategic architect for all aspects of risk mitigation, evaluation, risk transfer, and risk financing programs. This position designs and executes innovative self-insurance solutions, develops captive insurance policies and endorsements, and ensures regulatory compliance across complex multi-state requirements (AZ, CO, WY, WA, and expanding markets) for workers compensation, auto liability, and other self-insured programs. With enterprise-wide accountability, this position maintains self-insurance program continuity, drives operational excellence, and identifies strategic process improvements that enhance organizational performance outcomes. CORE FUNCTIONS 1. Provides strategic leadership and direction for the self-insurance/captive management function and team by recruiting, developing, and retaining top talent through comprehensive hiring, training, performance management, and workflow optimization. Drives organizational resilience by building robust talent pipelines and succession plans for mission-critical self-insurance functions, ensuring business continuity, sound financial stewardship and operational excellence. Serves as a key strategic partner in shaping and executing departmental goals and objectives that align with enterprise priorities. Accountability for ensuring all strategic initiatives and objectives are achieved with precision, timeliness, and measurable impact, positioning the team as a cornerstone of organizational success. 2. Develops and executes enterprise-wide self-insurance strategy aligned with Banner Health's overall risk management objectives and financial goals, with direct impact on organizational liability exposure across all facilities. This includes development and oversight of the Banner Indemnity, Ltd. (BIL) policies and endorsements. Revise existing and implement new programs when needed. Make recommendations and work closely with the actuaries, captive managers, and regulatory agencies. Work collaboratively with department leadership and executive team to promote the understanding of the self-insurance program. Provide education on Banner’s self-insured program to Risk Management staff and other Banner Health employees when needed. Establishes and administers process for risk transfer and risk assumption. Analyze the benefits of risk transfer versus risk retention or a combination of both. Assist with the development of a funding mechanism for the captive insurance program and the funding allocation model for the system. 3. Reviews and responds to financial responsibility statutes applicable to hospitals and other entities governed by the states where Banner Health is self-insured. This position is responsible for filing annual and quarterly reports for Arizona and Colorado, Wyoming and Washington and any other state in which Banner is or becomes self-insured. This position provides the required information and cooperates with any state audit of Banner self-insured workers compensation program. Supervise and analyze the collection of exposure and loss information for actuarial analysis. Lead and support internal and external audits by writing narratives and coordinating with the captive manager to gather and compile requested policy information, premium allocation and captive practices. 4. Develops and implements a comprehensive underwriting program including but not limited to policies, processes and procedures. Oversees and manages the underwriting of prior acts policies for physicians and other policies as needed. Develops and calculates premiums and federal excise tax for various policies. Formulates recommendations for insurance coverages for physicians and captive policies. Articulates strategy to management regarding the policies written for the captive. Address state and federal regulatory requirements related to self-insurance. 5. Serves as primary subject matter expert and strategic advisor to senior leadership and captive board on all self-insurance matters, leading board presentations and providing recommendations that influence organizational risk strategy. Oversee the development, coordination, and distribution of board materials for the captive insurance program, ensuring timely delivery of accurate and comprehensive information to board members. Coordinate all aspects of semi-annual board meetings, including agenda development, logistics, and stakeholder engagement. 6. Establishes and defines strategic processes and frameworks for self-insurance operations across the organization. Responsibilities extend across organizational lines, requiring extensive interaction and involvement throughout the facilities. Provides executive oversight and strategic direction for all self-insurance regulatory compliance across multiple states ensuring adherence to complex and evolving state-specific requirements while maintaining operational efficiency. Establishes and promotes teamwork and collaboration between senior leaders, sponsors, individuals, departments and the entire organization in the development of system wide standardized operational practice, strategy, and initiatives. 7. Designs, implements, and continuously innovates comprehensive risk assessment programs, including the physician eligibility program ensuring consistent and comprehensive evaluation of physician candidates for professional liability and malpractice risk. Partner closely with recruiting, credentialing, medical staff services and other key stakeholders to facilitate timely reviews, communicate program requirements, and support informed hiring decisions. Maintain strong cross-functional relationships to ensure ongoing awareness, alignment, and effective administration of the program. MINIMUM QUALIFICATIONS Must possess the knowledge typically demonstrated through the completion of a Bachelor’s degree in Healthcare, Legal Studies, Business or a related field and must have 7-10 years of experience in risk management. Excellent working knowledge of PCs and software, including word-processing, spreadsheet, query/report writing and presentation applications. Must have a high level of experience in working as a functional “super-user” of an application in a similar department environment or providing consultative input for application usage or design. Must have excellent oral, written and interpersonal communication skills to effectively interact with departmental personnel and assist customers with inquiries. Must have experience anticipating and responding to the needs of internal and external customers, building partnerships with management, staff and stakeholders, managing problems and situations where uncertainty is inherent, fostering the development of cohesive teams, anticipating emerging trends for organizational applicability and appropriateness. Must possess strong organizational, critical thinking, problem solving skills as well as effective interpersonal skills and attention to details. Must also have experience reading and interpreting contractual requirements and language. PREFERRED QUALIFICATIONS Master’s degree in Business or Insurance preferred. CPCU, CPHRM (Certified Professional Healthcare of Risk Managers) or ARM (Associate of Risk Management) designation preferred. Additional related education and/or experience preferred. EEO Statement: EEO/Disabled/Veterans Our organization supports a drug-free work environment. Privacy Policy: Privacy Policy