Director, Insurance & Risk

Be part of an amazing story. Macy’s is more than just a store. We’re a story. One that’s captured the hearts and minds of America for more than 160 years. A story about innovations and traditions…about inspiring stores and irresistible products…about the excitement of the Macy’s 4th of July Fireworks, and the wonder of the Thanksgiving Day Parade. We’ve been part of memorable moments and milestones for countless customers and colleagues. Those stories are part of what makes this such a special place to work. Job Overview The Director, Insurance & Risk serves as the enterprise leader responsible for the strategic management and governance of the Company's insurance programs, risk financing activities, captive insurance operations, claims administration, and insurance-related risk transfer strategies. This role protects enterprise assets through effective insurance program oversight, optimization of total cost of risk (TCOR), and alignment of risk financing solutions with the organization's evolving business objectives. The Director provides strategic leadership for the Company's captive insurance structure, reinsurance strategy, and opportunities to expand captive utilization. Working closely with Finance, Treasury, Tax, Legal, brokers, actuaries, carriers, and captive service providers, the role drives risk financing innovation, enhances claims outcomes, improves cost efficiency, and strengthens the organization's overall risk management and insurance governance framework. What You Will Do Insurance Program Leadership

Serve as the enterprise owner of all corporate insurance programs, including Property, General Liability, Workers' Compensation, Automobile Liability, Directors & Officers, Fiduciary, Crime, Cyber, Employment Practices Liability, Travel Accident, Environmental, Aviation, Marine Cargo, and all other specialty insurance coverages.

Lead all insurance program renewals, including exposure collection, marketing strategy, coverage negotiations, insurer selection, renewal presentations, executive communications, and implementation.

Ensure policy language, coverage grants, endorsements, limits, retentions, deductibles, and exclusions appropriately protect the organization's assets, operations, and strategic objectives.

Oversee maintenance of all insurance policies, certificates of insurance, insurer filings, coverage schedules, and insurance governance documentation.

Captive Insurance & Risk Financing

Assist in strategic oversight and governance of the company’s captive insurance structure.

Participate in annual captive business planning, feasibility analyses, financial reviews, actuarial assessments, and performance reporting.

Evaluate opportunities to increase captive participation and expand utilization to additional lines of coverage where economically beneficial.

Partner with actuaries, captive managers, reinsurers, brokers, and finance leaders to optimize risk retention structures and reduce total cost of risk.

Evaluate alternative risk financing solutions, deductible structures, self-insured retentions, collateral requirements, and emerging insurance market opportunities.

Claims Management & Loss Control

Maintain executive ownership of all significant Workers’ Compensation, General Liability, Property, Auto Liability, Cyber, EPL, and other insured and self-insured claims.

Direct claims management strategy and governance across carriers, third-party administrators, defense counsel, and internal business stakeholders.

Participate in claim stewardship reviews, reserve reviews, and litigation reviews to ensure appropriate claims handling and financial accuracy.

Drive claim closure initiatives, recovery opportunities, subrogation efforts, and loss mitigation programs.

Develop and monitor KPIs related to claim frequency, severity, closure rates, litigation outcomes, reserve development, and total claim cost trends.

Partner with Safety, Human Resources, Legal, Asset