Manager Strategic Insurance
The Manager Strategic Insurance is responsible for the development and management of strategic relationships with internal and external parties to ensure that Company's insurance programs and services are in alignment with the strategic goals of Company's and New York State. This will be accomplished through the transfer of risk and quantification of risk/reward trade-offs in an effort to make Company's a more resilient organization. The incumbent will ensure that mechanisms are in place to protect Company's assets, by managing, planning and coordinating a wide variety of insurance programs. The Manager of Strategic Insurance Risk collaborates with various departments within Company as well as external clients to implement and maintain such programs, to mitigate against accidental losses, and to preserve Company's assets and financial strength.
The incumbent must understand the intricacies of the insurance industry, the markets in which Company operates, and embrace the digital nature of tomorrow’s business environment. This role will have the potential to shape the future, frequent interaction with Leadership, and the opportunity for future growth.
Evaluate and consider deployment of alternative methods of risk financing such as captives, Owner Controlled Insurance Programs (OCIP) and derivatives.
- Provide assistance to Leadership with the administration of Company's insurance programs and with all aspects of the Insurance Management function. Manage large complex insurance programs and/or multiple insurance programs involving multiple insurance coverage types and products
- Validate and/or justify recommendations by concisely defining and reporting on risk/reward tradeoffs, enabling transparent and informed decision making
- Manage the insurance renewal process including the development of specifications and the evaluation of bid proposals, recommendation and/or selection of insurance brokers and companies, the compilation, preparation and verification of underwriter information, applications, negotiation of terms, conditions, coverages and costs to secure favorable terms
- Identify and analyze potential risks and exposures, evaluate risk control and financing alternatives, and recommend optimal implementation strategies to minimize loss potential
- Act as liaison between insurance broker, insurance company and staff in the management, negotiation and settlement liability and property claims
- Manage relationships with third-party service providers including brokers, insurers, and other third-party administrators, as well as with management and site personnel, to ensure Company engineering and insurance companies are in agreement and that loss prevention engineering and inspection services are performed
- Develop and manage relationships with Investor Owned Utilities on various initiatives to enable Company to continue and enhance its role in support of the State of NY
- Participate in strategic planning sessions, analyze and measure the effectiveness of all programs and partnerships.
- Spearhead Company cross-departmental task forces and teams designed to ensure coordinated program responses to new and ongoing strategic initiatives. Coordinate and manage the cross functional teams (Procurement, Human Resources, Engineering) to ensure that strategic plans are met
- Represent Company at meetings, conferences and industry forums
- Consistently identify and implement insurance/risk management opportunities within Company
- Challenge institutional norms ensuring robust analytical thinking exists in the pursuit of value-added solutions
- Ensure Company brand and reputation is properly messaged through professional and appropriate interaction with both internal and external stakeholders
- Review performance of staff; establish development plans and work performance goals and review individual goals each appraisal period
- Minimum of a Bachelor’s degree
- MBA, Master’s degree in Finance or related advanced degree is preferred
- Minimum of 7 years of demonstrated experience dealing with multiple aspects of the insurance industry including the use of innovative insurance solutions
- Minimum of 5 years with demonstrated ability to lead and drive complex projects to completion while leveraging multiple diverse resources to the reach the desired outcomes
- Experience working with Insurance Brokers or a detailed understanding of the Broker side of the insurance industry
- Experience in the energy industry and/or government, preferred
- Experience with Captive Insurance Company operations and administration, preferred
- Professional certifications in Risk and/or Insurance areas, preferred
- Approximately 10% travel primarily within NY State
White Plains, New York, United States