The Sr. Risk & Insurance Risk Manager will be responsible for making decisions on corporate risk management program that will directly support the strategic direction of the company. Candidate regularly assesses the company's risk profile and manages its insurance program through determining and/or negotiating the appropriate pricing, coverage, terms and conditions by analyzing the company's financials, operations, management, industry and other information. Employee will assist in the strategic risk management vision and is charged with assisting and delivering that strategy to the company using leadership, technical, functional and business skills. Exhibits business process knowledge, possesses a broad-based operational perspective and provides solutions for insured/non-insured related business risk issues. Adapts well to and initiates change in the organization. Individual will be adept at staying on top of contemporary risk management issues to ensure company is proactively managing it's risk profile. . Key traits for the individual in this position are strong communication, team player, strategic, creative, project management skills and the ability to drive performance from all areas within the company. Finally, individual will be adept at developing a team that supports the strategy of the business and is developing the next generation of leadership in the area.
Primary - Risk Management & Insurance
- Partners with executive leadership to decide on business policy for publicly traded risk management programs.
- Develops and implements risk management procedures.
- Work directly with actuary on a quarterly basis to provide loss run data and assess actuarial models to
understand and explain the impact of any change in assumptions to Senior Leadership and external auditors.
- Management of relationships with third party service providers including brokers, insurers and other TPAs.
- Implements, updates, documents, and manages risk management and safety initiatives that align with overall goals, including maintaining a competitive EMR.
- Works with executive leadership and insurance broker in procuring appropriate and competitive insurance for blanket corporate policies as well as for project specific policies.
- Negotiate terms and conditions with insurance professionals and makes recommendations to executive leadership.
- Oversees the administration of corporate insurance program, including property/casualty, professional liability, worker's compensation, etc.
- Manages claims handling functions and tracks progress of potential claims and claims (commercial general liability, builder's risk, professional liability, worker's compensation, etc.) until such claims are resolved/closed by working closely with project teams, executive leadership, and insurance carriers.
- Create ad-hoc and monthly reports for Risk Management department to quantify risk exposure and then
create forecasted projections to Senior Leadership to measure and monitor on-going risk.
- Communicates directly with attorneys on litigated claims and facilitates settlements at executive leaderships' discretion.
- Strives to reduce frequency and severity of current claims and potential claims.
- Analyzes trends, stays current on new regulations and laws, and keeps executive leadership apprised.
- Responds to risk related concerns and issues of internal and external stakeholders in accordance with the company's risk tolerances and recommends proper loss prevention and loss reduction techniques regarding liability and risk issues.
- Prepares department budget and oversees expenditures.
- Perform M&A, due diligence to evaluate insurance programs in connection with prospective
operations Develop plans to address the risk profile of the acquisition, and create training for the integration.
- Ensures contracts are negotiated in accordance with standards established and guidelines set by executive leadership to adequately transfer risk.
- Provides guidance to department in negotiation of a wide range of contractual documents such as Owner Agreements, Subcontracts, Purchase Orders, Professional Services Agreements, Non-Disclosure Agreements, Teaming Agreements, DBIA Agreements, etc. as well as directly negotiate such contractual documents when necessary.
- Recommends changes in policy and practices to establish and achieve goals and objectives related to risk management and to ensure compliance with federal, state, and regional laws and regulations.
- Ensures reporting to various agencies is completed in an accurate and timely manner.
- Works closely with executive leadership to support the timely and professional response to emergencies.
- Coaches, supports, trains, and develops employees in the department to encourage open communication, ongoing collaboration, and the formation of a functional, problem-solving team.
- Help manage OSHA citation resolution process.
- Represents the department at management team meetings.
- Reports department milestones, benchmarks, and lessons learned to executive leadership.
Build and Nurture Partnerships
- Build relationships with Brokers, Underwriters, Suppliers and partner with Operations to manage and monitor General Insurance & Construction Defect related matters and to provide cost effective means in handling of such cases.
- Build business relationships both internally and externally to effectively communicate with TPAs, Inside/Outside Counsel, Corporate Legal, Independent Adjusters (IA), Experts, Executive Leadership and Operational Management.
- Partner and assist in managing outside suppliers.
- Meet Service Level Agreement (SLA) standards set for both the Company & Operations.
Assist Internal Counsel with Legal Actions for Insured Claims
- Attend mediations, arbitrations, and trials, when necessary.
- Act with a sense of fiduciary responsibility.
- Compile and submit reports required by company management, regulatory agencies and inside/outside counsel, which also includes Ad Hoc reporting where necessary.
Develop Organization's Risk Capabilities
- Maintain current knowledge of construction industry regulations, trends and practices.
- Aid in training development to support installation "Best Practices" & "Best Evidence Based Practices."
- Assist in the managing and underwriting of corporate insurance program.
Education & Certifications
- Master's or Bachelor's Degree, Course of Study: Risk Management, Finance, Business, Insurance or related field.
Required Special Certification or Licensing:
☒ Adjusters License- All States, All Lines (required)
Preferred Special Certification or Licensing:
☒ Associates in Risk Management (ARM)
☒ Chartered Property, Casualty, Underwriter (CPCU)
☒ 5-10 Years in a Risk Mgmt. supervisory function preferably with a publicly traded company, insurance carrier and with experience in Commercial Insurance
- Minimum 5-10 years of extensive risk management experience with at least five years of supervisory experience managing a Risk Management department.
- Master's or Bachelor's Degree from a regionally or nationally accredited institution in risk management, industrial safety, public administration, or a related field.
- Commercial General Insurance & Underwriting, Commercial General Insurance Risk Management, Commercial General Insurance Claims Management
- Construction experience preferred.
- Professional certifications and coursework in risk management.
- Strong understanding of indemnity provisions and transferring risk contractually.
- Strong understanding of financing risk through insurance.
- Extensive knowledge in risk prevention and risk reduction.
- Extensive knowledge of OSHA standards.
- Extensive program development skills.
- Strong verbal and written communication skills, group training skills, and a solid grasp of technology used in a corporate work environment.
- Risk management and claims handling experience in a publicly traded organization, particularly with regard to Corporate Insurance Programs, Legal, Construction Defect, General Insurance and Auto Liability.
- Expert Level with Microsoft Office Applications including Word, Excel & PowerPoint.
- Excellent communication and negotiation skills
- Familiarity with Commercial Policies (WC, AL, GL, Excess, Property, etc.) and insurance/underwriting
Type of Travel Required:
☒National and International
Amount of Travel Required: