Director of Risk Management

Job Description:

We are seeking a highly experienced and organized Director of Risk Management with a strong background in the construction or insurance industry and expertise in handling construction-related matters, including claims, insurance, contract administration, and compliance. This role will lead the efforts of the risk team to safeguard the company's assets and ensure financial stability. This includes managing and mitigating risks, particularly those related to claims, insurance coverage, and compliance. The successful candidate will work closely with project managers, legal counsel, and senior leadership to implement risk management strategies, protect the company's resources, optimize insurance coverage, and ensure compliance.

EDuties and Responsibilities:

• Develop, implement, and manage the company's risk management program.
• Analyze and assess potential risks that could impact the organization, including operational, contractual, and financial risks.
• Manage the insurance claims resolution process, including timely reporting, follow-ups, and coordination with insurance carriers, adjusters, and legal counsel.
• Determines recommended settlement values and negotiates with insurance adjusters on all claim types.
• Facilitates and supports the risk team's relationship with the company's insurance brokers, insurance carriers, and the risk team.
• Leads the team responsible for administering the Company's corporate insurance program. Lines of coverage include Commercial Property, Commercial General Liability, Umbrella, Worker's Compensation, Auto, Builder's Risk, Contractor's Equipment, D&O, Crime and Fiduciary, Cyber, Contractor's Professional, Pollution, Marine and Aircraft Liability, and others
• Coordinates and participates in property loss control and risk control activities, including proposing solutions and/or resolutions to loss control recommendations.
• Conduct periodic risk assessments and audits to ensure the company remains compliant with all applicable policies and contract requirements.
• Conducts claim reviews, adjusts internal insurance reserves, and identifies loss trends.

• Develop strategies for risk mitigation and loss prevention, including policies and procedures to minimize risk exposure.
• Monitor industry trends and regulatory changes to keep the company's risk management and insurance strategies current.
• Lead training and awareness programs for risk management, insurance processes, and compliance requirements.

Education and Experience:

• Bachelor's degree in Risk Management, Business Administration, Finance, Law, or a related field; experience may be substituted for educational requirements based on relevant work history.
• 10 years of experience in risk management, insurance, or a related role in construction or related industry. One or more of the following designations preferred ARM, CRM, CIC, CPCU or other relevant designations

Knowledge, Skills, and Abilities:

• Strong understanding of various types of insurance coverage and claims management processes.
• Familiarity with risk assessment methodologies, loss prevention techniques, and legal/regulatory compliance in construction or related industry.
• Strong analytical and problem-solving skills, with the ability to assess and respond to complex risk issues.
• Excellent communication skills, both verbal and written, with the ability to effectively present information to stakeholders at all levels.
• Strong organizational skills, with the ability to manage multiple priorities and meet deadlines in a fast-paced environment.
• Proficiency in Microsoft Office Suite (Word, Excel, PowerPoint) and risk management/insurance software.

• Working knowledge of the processes associated with large risk management programs, preferably within the construction industry, including:
  • Interactions and relationships with brokers
  • Selection and relationship management of brokers or agents
  • Familiarity with construction or related industry coverage terms and conditions
  • Claims management

Relationships:

Reports to the Senior Vice President, leads the Risk Management function and interacts with various executives and managers.