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Teck Resources

Director, Risk, Insurance and Claims

Vancouver, BC
Full Time
2 days ago
Job Title: Director, Risk, Insurance & Claims

Reporting to: Vice President, Risk and Security and Chair Materials Stewardship Committee

Job Bank NOC: 0114

Company: Teck Resources Limited

Business Address: Bentall 5, 550 Burrard St #3300, Vancouver, BC V6C 0B3, Canada

Phone: (604) 699-4000

Province: British Columbia

Employment Type: Full-Time Regular (Permanent Position)

Salary Range (Base Salary): CAD $169,600 to $212,000

Target Bonus: 25% of Base Salary (The terms of the Teck Bonus Plan are subject to Management and Board review and approval annually).

Long Term Incentive Plan: A combination of Stock Options and Share Units

  • Life insurance,
  • Accidental death and dismemberment insurance,
  • Extended health and dental coverage,
  • Health spending account,
  • Personal spending account,
  • Short and long-term disability plans,
  • Pension plan,
  • Group travel insurance plan (optional), and
  • An annual executive medical to be arranged by Teck.

Language of Work: English

Posting Date: July 25, 2022

Closing Date: December 31, 2022

Reporting to the Vice President, Risk and Security and Chair Materials Stewardship Committee, the Director, Risk, Insurance & Claims is responsible for managing risk management activities, the global insurance program for Teck, including executive risks, certain employee benefits for its subsidiaries, partnerships and/or joint ventures.

The Director must have expert analytical, technical, and interpersonal skills and must be able to support company-wide initiatives in risk management.

The Director, Risk, Insurance & Claims, holds direct or indirect responsibility for all insurance placements and claims globally, other than property insurance. The Director is responsible for the day to day management of the BC captive insurance company.

The position provides Teck with strong technical expertise related to insurance and claims globally. This includes engagement with functional groups, site personnel, GMs, VPs and SVPs and external stakeholders.

The position is global in scope covering all geographic areas in which the company operates, explores and crosses over all business units. This position requires travel of sufficient frequency to allow an appropriate level of understanding of technical issues and develop/maintain a high level of cooperative working relationship with site personnel.

The Director supervises contractors and provides guidance and direction to local operational resources as required.

The position will be based in Vancouver, British Columbia.

  • Be a courageous safety leader, adhere to and sponsor safety and environmental rules and procedures.
  • Risk Management:
    • Maintains a deep understanding of Teck operations, projects, and development plans and manages the related risks and exposures to reduce the impact on risk transfer programs.
    • Coordinates with internal and external stakeholders to assess, define and analyze potential risks and evaluates the severity of each risk by considering the consequences.
    • Develops risk management controls and systems to eliminate, mitigate or transfer potential risks.
    • Supports operations on risk management issues, troubleshooting risk issues.
    • Provides guidance and leadership to the Business Units (BU) by offering technical expertise and advice on all day-to-day risk matters, including advice concerning operation risk and insurance requirements, risk analysis of third-party contracts, and analysis/interpretation of policy wordings to different scenarios.
    • Liaises with BUs and Teck Groups by reviewing risk, indemnity, and insurance-related contract provisions and provides advice, guidance and due diligence.
    • Provides support and education to operations, groups and staff to build risk awareness.
    • Develops and conducts risk management training, workshops and seminars in all BUs annually.
    • Understands and can explain complex risk and insurance matters at all levels.
    • Represents the company externally at risk management forums and conferences.
    • Risk assessment, identification and review of risk registers and contractual documents.
  • Contracts & Negotiations
    • Reviews procurement, service and project contracts and leases to ensure proper allocation of risk, ensuring the insurance obligations support the risk allocation.
    • Assists BU, Legal and Project Development Group (PDG) with reviewing risk, indemnity and insurance clauses in bids and contracts, recommending changes in line with existing risk appetite and the insurance program.
    • Identifies areas where costs can be reduced without exposing the company to unnecessary risks. For example, $1M savings in the contract without increasing risk exposure.
    • Participates with Legal and PDG in complex negotiations with stakeholders and counterparties during the negotiation of non-standard contract terms and determines and addresses each affected department's needs relative to those terms. For example, asset sale and financing projects.
    • Manages change, adapting contract risk and insurance templates to new requirements. For example, modernizing contract risk and insurance wording templates for all operations; creation of an interactive guidance document.

  • Captive & Insurance
    • Manages the British Columbia company captive.
    • Collects underwriting information as required and participates fully in the final decisions concerning insurance purchase.
    • Collaborates with external brokers and insurers in the development, analysis, placement, monitoring and renewal of Teck's insurance policies and risk transfer strategies.
    • Participates in renewing insurance policies to achieve best terms and pricing and ensure adequate coverage of company exposure.
    • Reviews insurance policies to ensure accuracy and completeness of the coverage and policy documents and provide wording improvement recommendations.
    • Calculates Teck's Business Interruption values annually.
    • Leads several insurance complex placements using the captives, thereby retaining insurance premiums (in full or a percentage) in-house. For example, the multi-billion-dollar QB2 insurance program, $850M in reclamation bonds, Canada and US benefits stop-loss policies and Neptune Terminal Project Allison insurance program.
  • Claims & Recoveries
    • Performs technical analysis required to support major claims.
    • Liaises extensively with loss adjusters, subject matter experts and internal staff on a variety of claim issues.
    • Manages claims costs to ensure consistently improved outcomes, identifies problems and issues, recommends corrective actions, monitors solutions, and interacts with claimants as necessary.
    • Coordinates the preparation of major claims submissions and negotiates claims payments with insurers, or third parties, to maximize Teck's recoveries. This includes leading recovery negotiations where appropriate, ensuring all parties are fairly treated and retains counsel when required. For example:
      • Third-party claims: resulting in settlement agreements with the injured party or surviving family in a timely manner without legal actions and minimum press coverage.
      • First-party claims: settlements reached for the damage to an operational overpass, lagoon lining damage, transformers, and dismissal of subrogation claims against Teck.
  • Other:
    • Stays informed of market trends on coverage, premium swings and market capacity, as well as rising industry-specific and global risks.
    • Monitors and implements improvements to the existing Risk Management Program as conditions allow, using existing tools, such as captives or external tools as the condition warrants.
    • Continuously monitoring to evaluate and analyze decisions independently and determine whether changing internal or market conditions warrant new solutions.
    • Participates in and takes on leadership roles in industry associations and activities.
    • Builds network and liaises with industry peers, brokers, underwriters, outside counsel.
    • Supports team members in achieving professional goals by providing training, coaching and guidance.

  • University Degree with 15+ years of related experience.
  • Canadian Accredited Insurance Broker (CAIB) Program is an asset.
  • Strong organizational, financial, presentation, and interpersonal skills.
  • Comprehensive understanding of insurance terms and fundamentals (Liability, Property, Business Interruption, Workers Compensation, Auto, Claims, etc.).
  • Fundamental knowledge and understanding of Captive Insurance programs.
  • Strong conceptual and analytical skills, great attention to detail and effective time management skills. Ability to manage multiple competing priorities in a dynamic, global and cross-functional environment.
  • Strong negotiation skills through active listening, proactive thinking and development of contingency plans for different outcomes.
  • Significant understanding of insurance and reinsurance markets, captives and very strong technical knowledge of insurance coverages and contracts.
  • Fosters teamwork by offering support for others' ideas and proposals, working for solutions that all team members can support and providing assistance to others when they need it.
  • Provides honest and constructive feedback to other team members.
  • Builds national and international networks through speaking engagements in conferences and as a member of external committees and boards.
  • Excellent written and verbal communication and interpersonal skills. Communicates effectively with internal and external customers.
  • Ability to communicate effectively with all stakeholders via verbal and written communications in English and Spanish (Fluent in Spanish would be an asset).

Successful candidates must be fully vaccinated against infection by COVID-19. Candidates who are unable to be vaccinated due to a personal characteristic protected under applicable human rights legislation may request to be exempt from this requirement. We will do our best to accommodate those who are unable to be vaccinated.

How to Apply:

Qualified applicants interested in joining a dynamic team are encouraged to submit a resume and cover letter by email or through Teck's online career's portal by December 31, 2022, as follows:

By email:


Job Reference Number:43253

At Teck, we value diversity. Our teams work collaboratively and respect each person's unique perspective and contribution.

Qualified applicants interested in joining a dynamic team are encouraged to submit a resume and cover letter electronically.

We wish to thank all applicants for their interest and effort in applying for the position; however, only candidates selected for interviews will be contacted.

Your application to this posting is deemed to be your consent to the collection, use and necessary disclosure of personal information for the purposes of recruitment. Teck respects the privacy of all applicants and the confidentiality of personal information.

Teck is a diversified resource company committed to responsible mining and mineral development with major business units focused on copper, steelmaking coal, zinc and energy. Headquartered in Vancouver, Canada, its shares are listed on the Toronto Stock Exchange under the symbols TECK.A and TECK.B and the New York Stock Exchange under the symbol TECK.

The pursuit of sustainability guides Teck's approach to business. Teck is building partnerships and capacity to confront sustainability challenges within the regions in which it operates and at the global level. In 2020, Teck was named to the Dow Jones Sustainability World Index (DJSI) for the eleventh straight year, indicating that Teck's sustainability practices rank in the top 10 percent of the world's 2,500 largest public companies in the S&P Global Broad Market Index.

Learn more about Teck at or follow @TeckResources.

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