Job Description

The Corporate Insurance Director is responsible for the strategic design, placement, and management of the Bank’s enterprise-wide insurance and risk transfer programs. This role ensures adequate protection against financial, operational, regulatory, cyber, and people risks while optimizing coverage, cost, and insurer relationships. The Director partners closely with Enterprise Risk, Legal, Finance, Compliance, Human Resources, Information Technology, and business leadership to support safe, compliant, and sustainable growth.

This role has enterprise accountability for insurance strategy and serves as the Bank’s authoritative voice on insurance and risk transfer decisions.

Primary Responsibilities:

• Develop and execute enterprise insurance strategy in alignment with the Bank’s risk appetite, regulatory expectations, and governance standards.
• Oversee all corporate insurance programs, including Directors & Officers (D&O), Professional Liability / Errors & Omissions, Cyber Liability, Financial Institution Bond / Crime, Employment Practices Liability (EPLI), Property, General Liability, Auto, and Workers’ Compensation.
• Provide leadership on program design, including policy structure, coverage terms, limits, deductibles/self-insured retentions, and pricing strategy.
• Assess current and emerging risks and recommend enhancements to insurance coverage and risk transfer structures.
• Evaluate and implement alternative risk financing structures (e.g., deductibles, self-insured retentions, and captives) within regulatory and capital constraints to optimize total cost of risk.

• Serve as the primary relationship manager for insurance brokers and carrier partners; lead annual renewals, market placements, and RFPs to secure optimal terms, limits, pricing, and carrier diversification.
• Evaluate carrier financial strength and counterparty risk.

• In partnership with Legal, external counsel and insurers, oversee complex, high-severity claims, including cyber incidents, securities litigation, regulatory investigations and fidelity losses.

• Direct claims strategy, analyze loss trends, and drive insurer engagement to maximize recoveries, reduce earnings volatility, and mitigate future exposures.
• Partner with Enterprise Risk Management to ensure insurance programs reflect current and emerging risk profiles.
• Collaborate with Legal on contract review, indemnification provisions, and insurance requirements across vendor agreements, loan documentation, M&A transactions and strategic partnerships.
• Establish and maintain enterprise insurance standards for contractual risk transfer.
• Ensure insurance programs comply with applicable banking regulations and internal governance standards; support regulatory examinations, internal audits and insurance-related Board and Committee reporting.

• Manage insurance budgets, forecasts, accruals, and cost‑of‑risk analytics.
• Prepare executive‑level reporting for senior management and risk committees.

• Lead, mentor, and develop insurance staff and/or managed service providers; drive process standardization, documentation, governance, and continuous improvement.
• Serve as a subject matter expert on insurance and insurable risk to senior management and Board committees.
• Exercise usual authority of a manager concerning staffing, performance appraisals, promotions, salary recommendations, performance management and terminations.
• Understand and adhere to the Company’s risk and regulatory standards, policies and controls in accordance with the Company’s Risk Appetite. Design, implement, maintain and enhance internal controls to mitigate risk on an ongoing basis. Identify risk-related issues needing escalation to management.
• Promote an environment that supports a culture of belonging and reflects the M&T Bank brand.
• Maintain M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable.
• Complete other related duties as assigned.

Scope of Responsibilities:

The Director serves as the Bank’s primary external representative to insurance brokers and carriers and engages directly with senior executives (CFO, CHRO, General Counsel) and regulators on insurance-related matters. This role partners closely with Enterprise Risk Management, Legal, Finance, Compliance, Human Resources, Information Technology, and business leadership to support safe, compliant, and sustainable growth within a regulated banking environment.

Supervisory/ Managerial Responsibilities:

5

Education and Experience Required:

• Bachelor’s degree in Risk Management, Business, Finance, or related discipline and a minimum of 11 years of progressive experience in corporate insurance or risk management required, OR in lieu of degree, a combined minimum of 15 years’ higher education and/or relevant work experience including a minimum of 11 years of progressive experience in corporate insurance or risk management
• Minimum of 5 years’ managerial, supervisory or work leadership experience
• Deep expertise in insurance programs relevant to banks and regulated financial institutions
• Strong executive communication, negotiation, and stakeholder‑management skills

Education and Experience Preferred:

• Professional certifications (ARM, CPCU, RIMS‑CRMP, or similar)
• Experience supporting public company or bank board risk committees
• Exposure to alternative risk financing (large deductibles, captives, etc.)

M&T Bank is committed to fair, competitive, and market-informed pay for our employees. The pay range for this position is $154,700.00 - $257,900.00 Annual (USD). The successful candidate’s particular combination of knowledge, skills, and experience will inform their specific compensation.

Location

Buffalo, New York, United States of America