Responsibilities involve the purchase of new or renewal insurance programs; claims management and administration; management of relationships with internal stakeholders and external third-party service providers including brokers, attorneys, insurers and TPAs; preparing loss analysis and financial analysis; gathering and analyzing of data; records maintenance and management; and reporting.The Director of Risk Management provides guidance and direction to all Century subsidiaries on various insurance and risk management issues, including coverage, policies and procedures, claims, and loss prevention/control.The Director of Risk Management reports to the Legal Department.
ESSENTIAL JOB FUNCTIONS:
The Director or Risk Management is accountable for the following functions for Century:
- Manages the insurance underwriting renewal process including gathering, analyzing and preparing underwriting data and loss analysis for market submissions;
- Managing brokered insurance policies covering general liability, property, automobile, workers’ compensation, directors and officers’ liability, professional liability, and various specialty policies;
- Developing, maintaining and distributing annually a Risk Management handbook that includes coverage summaries and procedures for wrap administration, certificates of insurance, contract language, contracts and vendors insurance requirements, indemnification agreements, etc.;
- Conducting needs assessments to identify training requirements throughout the company and developing and implementing training programs;
- Managing individual claim submission to carriers and status of claims handling and claim reimbursements;
- Developing claims handling instructions and procedures for insurers, brokers and other service providers and monitor compliance;
- Researching acceptable self-insured retentions and deductibles for potential savings, managing Century’s self-insurance and reimbursements upon exhaustion;
- Allocating insurance premiums by coverage line among all subsidiaries, based on exposure, revenue and loss history;
- Maintain all database records of insurance policy documents, schedule of all property locations, certificates of insurance, auto schedules, and claims (both open and closed).
- Selecting and managing relationships with brokers, wrap administrators, insurers, claims administrators, loss control providers, attorneys, and other service providers.
- Performs other related duties as assigned or requested.
Education and Experience
- Bachelor's Degree;
- Minimum of five years of experience in Risk Management and Insurance;
- Experience with Risk Management for a home builder preferred;
- Professional certifications such as a Certified Risk Manager (CRM), Financial Risk Manager (FRM), and Professional Risk Manager (PRM) are also highly desirable.