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Senior Manager, Risk Management

Durham, North Carolina
18 Sep 2023

As a leading global contract research organization (CRO) with a passion for scientific rigor and decades of clinical development experience, Fortrea provides pharmaceutical, biotechnology, and medical device customers a wide range of clinical development, patient access and technology solutions across more than 20 therapeutic areas. With over 19,000 staff conducting operations in more than 90 countries, Fortrea is transforming drug and device development for partners and patients across the globe.

The Senior Manager, Risk Management plays a key role in developing the risk management strategy for the company. The position will identify company exposures to loss and implement appropriate risk management techniques to eliminate or mitigate the impact, manage broker relationships, and place and administer the global insurance program. The role will also establish contract standards for insurance language, provide consultative expertise to the business lines and corporate support functions, manage the non-healthcare related claims processes. In addition to insurance risk management, the Sr. manager, Risk Management will coordinate with the VP, Treasury and Risk Management to develop the company's Enterprise Risk Management function.


Review and enhance the risk management strategy for the company, including the development of a clear articulation of the company's risk tolerance

Identify and analyze potential impact of exposures of loss faced by the company

Provide consultative and technical expertise on insurance and risk management issues to the business units and corporate support functions

Prepare and manage the annual risk management and insurance budget, including cost allocations to the units

Establish contractual standards for insurance and indemnification wording. Jointly with the Legal Department, conduct periodic contract sessions for business unit Contract staff

Review leases, contracts and other legal documents to evaluate appropriateness of language and ensure compliance with insurance policies and internal legal guidelines

Respond to contracting requests to review the insurance requirements for client RFPs

Oversee the Property, Executive Risk, Casualty and other insurance programs. Negotiate insurance placement pricing, structure and limits for all coverage lines

Conduct periodic cost/ benefit reviews of alternative insurance structures, including benchmarking of coverage options

Develop and maintain database of all global policies and historical claim information

Serve as the primary contact with the business units for non-health related claims reporting, claims management and insurance certificates

Coordinate with the VP, Treasury and Risk Management to develop and implement the company's Enterprise Risk Management function


Minimum of 4-10 years' relevant experience in the healthcare or pharma/CRO industry required

Minimum 5+ years' experience in managing insurance or ERM programs

Bachelor's degree in a business, healthcare or related field required

Professional designations/certifications/licenses within Risk Management

Proven experience to think strategically and execute in a complex environment

Ability to clearly understand, communicate and mitigate risks

Prior experience leading through influence at all levels of an organization

Demonstrated ability to plan, multi-task and prioritize in a global organization

Ability to work to deadlines and problem-solve

Strong analytical and communication skills

Note: This job description outlines the general nature and level of work performed by individuals assigned to this position. It does not contain a comprehensive inventory of all duties, responsibilities, and qualifications required.

Pay Range: $140,000-$175,000 (The range does not include benefits, and if applicable, bonus, commission, or equity)

Benefits: All job offers will be based on a candidate's skills and prior relevant experience, applicable degrees/certifications, as well as internal equity and market data. Regular, full-time or part-time employees working 20 or more hours per week are eligible for comprehensive benefits including: Medical, Dental, Vision, Life, STD/LTD, 401(K), ESPP, Paid time off (PTO) or Flexible time off (FTO), and Company bonus where applicable.

Fortrea is looking for problem-solvers and creative thinkers who are passionate about breaking down barriers faced by sponsors of clinical trials, and who are committed to helping transform the development process to get promising life-changing ideas and therapies to patients faster. Join us as we cultivate a workspace where all employees have the opportunity to grow and make impacts on a global scale. For more information and questions related to Fortrea, please visit . #AJS

Fortrea is proud to be an Equal Opportunity Employer:

As an EOE/AA employer, Fortrea strives for diversity and inclusion in the workforce and does not tolerate harassment or discrimination of any kind. We make employment decisions based on the needs of our business and the qualifications of the individual and do not discriminate based upon race, religion, color, national origin, gender (including pregnancy or other medical conditions/needs), family or parental status, marital, civil union or domestic partnership status, sexual orientation, gender identity, gender expression, personal appearance, age, veteran status, disability, genetic information, or any other legally protected characteristic. We encourage all to apply.

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  • Job Reference: 1115778854-2
  • Date Posted: 18 September 2023
  • Recruiter: Fortrea
  • Location: Durham, North Carolina
  • Salary: On Application
  • Sector: Administration