NAME: John J. Marren
NEW JOB TITLE: Gaithersburg, Maryland-based senior director, global risk & insurance management, Novavax Inc.
PREVIOUS POSITION: King of Prussia, Pennsylvania-based senior director, global risk & insurance management, CSL Ltd.
INDUSTRY OUTLOOK: The industry is showing signs of stabilizing after several tumultuous years. Discipline and maturity in the insurance market seem evident. Technology, new capacity and new risk finance tools and methods are shaping the future. And with all of that, were finally getting back to being a people business again, which, in my opinion, is what gives the industry life and makes it real.
GOALS FOR NEW POSITION: To support enabling the success of a growing, global biotechnology company by developing scalable, fit-for-purpose insurance programs and comprehensive business continuity management, while establishing an ERM program that is complemented by both.
CHALLENGES FACING THE INDUSTRY: Supply chains are ever more complex. Understanding, measuring and articulating supply chain risks, consequently, is also complex and challenging to the risk manager. While supply chain risk is nothing new, there are, justifiably, very high standards for life sciences requiring risk management to be an integral part of the equation. Where successful risk management practices are implemented and demonstrated, greater business resilience will result and can be articulated to the insurance market.
FIRST EXPERIENCE IN THE INDUSTRY JOB MARKET: Property loss control consultant for Factory Mutual Engineering, now FM Global.
ADVICE: Opportunities in the industry are vast and varied. Consider what you love doing and look for it in the industry. Never underestimate the wisdom of those who came before you. Seek mentors. Ask questions. Be bold. Dream big.
OUTSIDE THE INDUSTRY, A DREAM JOB: Pediatric oncologist. Of course, Id have to go back to school.
COLLEGE MAJOR: Chemical engineering
LOOKING FORWARD TO: Creating a new risk management practice and culture in a young, exciting and growing life sciences company.
FAVOURITE MEAL: Porterhouse steak, a loaded baked potato and side Caesar salad
BOOK: Unbroken, by Laura Hillenbrand
HOBBIES: Platform tennis, golf, skiing, BBQing, traveling, music
TV SHOW: Seinfeld
ON A SATURDAY AFTERNOON: Walk the dogs or go biking with my wife, relax by the pool, or fuss with projects around the house.
