The function of the Risk and Insurance Management Manager is to contribute to the safety and soundness of the business unit, through risk review and assessment, insurance coverage procurement and administration and licensing and compliance administration. The Risk and Insurance Management Manager also acts as one of the company’s internal audit arms.
The Risk and Insurance Management Manager is responsible for assisting in the promoting of loss prevention and monitoring compliance with insurance policies and for assisting in the identifying, measuring and management of insurable risks throughout the company.
The Risk and Insurance Management Manager will administer the Risk Management Information System; manage the insurance renewal process; oversee the actuarial analyses process; act as a liaison between the insurance brokers, insurance carriers, and actuaries; prepare financial and risk management analysis reports for senior management; oversee the vendor certificate of insurance compliance process and review exceptions; advise properties regarding insurance issues and questions and track and advise senior management on potential and on-going litigation.
ESSENTIAL DUTIES and RESPONSIBILITIES:
Analyze potential impacts of developing trends and make recommendations on insurance coverage enhancements to improve the claims management process and/or pricing.
Works with other internal company departments on training programs for all staff to understand insurance coverage, incident reporting procedures, insurance claims and recommendations from insurance inspections.
Acts as adviser and insurance compliance expert for company in the carrying out of its various businesses, including property acquisitions and sales, property management operations and ensures insurance arrangements are up-to-date and premiums agreed with. Disseminates pertinent information for budgeting purposes to appropriate departments.
Identifies new insurable risks within the business and makes recommendations for effective management of the risks. Reviews and coordinates execution of findings post acquisition to create baseline risk at each asset with corrective plan, if needed.
Participates in the annual policy renewal process and continually assesses the company’s insurance needs and costs.
Manages relationships with third party service providers including brokers, insurers, and consultants.
Manages and maintains the statement of values.
Reviews and processes endorsements to policies.
Reviews and assist with processing of insurance premium payments.
Ability to travel for claims and inspections as needed.
Leads the survey of properties including follow up to ensure accurate information is gathered, stored and reported for all incident reporting per policy. Makes recommendations based on review to senior management for additional follow up, corrective action or procedural adjustments as needed.
Coordinate responses on any claim questions
Reconcile results with accounting and general ledger information for claims.
Provides loss information for owned assets as needed and gathers loss information for incoming assets for insurance quoting purposes.
Complete training model for publication and updates as needed. Actively participates in materials publications to internal customers via internal webpage services.
Complete monthly reporting for senior management as requested.
Monitor insurance and licensing for all company vehicles.
Complete insurance questionnaires for incoming assets based on information available during due diligence process and reports information to acquisitions team when finalized.
The above list reflects the general details necessary to describe the principle and essential functions of the position and shall not be construed as the only duties that may be assigned for the position.
Education High School Diploma, GED, or equivalent skills
Experience and/or Training:
Minimum 10 years of insurance background or relevant experience in property loss claims, real estate acquisitions and worker's comp.
Extensive document review experience in insurance related policies/certificates and related forms
Flexibility to handle a fast paced, ever changing, deadline driven environment
Sound judgement and discernment when communicating potentially serious issues.
Use of discretion when elevating issues to senior leadership and larger groups, internally and externally.
Ability to multi-task and prioritize assignments while delivering consistent, quality work product to property managers, brokers, attorneys and clients
High level of attention to detail and accuracy
Ability to work with little supervision and to seek help when needed
Ability to work internally and externally with various functional areas and levels, including accounting, auditing, financial reporting, operations, legal, insurance brokers and insurance
Strong analytical and communication skills
Ability to think independently while working within a group
Proficient in the advanced use of Excel and PowerPoint.
Experienced in the use of a Risk Management Information System
Adept at managing multiple projects simultaneously and prioritizing based on company needs.
Additional Salary Information: The position is annual bonus eligible
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