Vice President, Risk Management Professional - Non IT
Fairfax , VA Direct Hire May 22, 2023
Employment Enterprises is currently working with one of the region’s largest privately-owned real estate developers. We are looking for a Vice President of Risk Management. The Vice President of Risk Management will provide guidance to senior management on identifying and mitigating risks and will be responsible for all the company’s insurance programs.
Vice President of Risk Management Responsibilities:
Analyze and structure effective and efficient risk management strategies that support the Company’s objectives, minimize risk to the Company and Owners’ assets, preserve earnings and Company reputation.
Oversee the performance of a network of service providers including insurance and surety companies and their brokers. Negotiate favorable insurance premium rates, bond premiums and insurance and surety brokerage commissions.
In placing insurance, develop insurance specifications to ensure complete coverage, request proposals, complete underwriting applications and incorporate any necessary business changes. Bid, negotiate and place property, casualty, liability, umbrella, auto, crime, fiduciary, builder’s risk, workers compensation, Directors & Officers, cyber and other insurance policies to protect the Company’s assets and interests. Ensure appropriate endorsements are provided at appropriate cost. If a general contractor or other party provides builder’s risk on a Company project, ensure appropriate coverage.
Perform in-depth insurance policy form reviews. Maintain continuing awareness of emerging trends in the insurance industry in order to recommend strategies to mitigate or transfer risks.
Coordinate with Company managers and executives on the design and implementation of risk management and claims prevention best practices in conjunction with insurers and broker.
Ensure the Company maintains appropriate bonding capacity to be able to execute on its developments. Maintain relationships with surety companies and negotiate premium rates on bonds. Oversee the administration and tracking of the Company’s bonding program, understand the Company’s current and future needs for bonds. Work with CFO to provide sureties with appropriate indemnity and guarantor for bonds.
Review Company contracts, loan documents, leases, operating agreements, development agreements, consultant agreements, purchase & sale agreements and other documents to ensure all insurance provisions are appropriate, reasonable and protect the Company, both for insurance the Company has placed and insurance placed by tenants, vendors, contractors, etc. Draft such language when appropriate. Identify and maintain database of additional insureds per property. Ensure appropriate additional named insureds are properly named.
Establish and maintain standard processes for policy deadlines, and prepare, update and maintain a comprehensive list of all insurance policies company-wide, including premiums. Review semi-annually with Executive Committee and General Counsel.
Work with Company’s legal team and insurer to track litigation the Company is involved with. Engage as appropriate in settlement discussions.
Work with Company project and property managers on appropriate submission, tracking and settling of insurance claims. Maintain tracking system for claims and ensure receipt of funds from insurer.
Work with Human Resources on insurance, EEOC, benefit and risk matters related to employment law, workers compensation insurance, etc. Be familiar with ERISA issues.
Work with the Company’s marketing and event coordinators to ensure vendors have appropriate insurance in place before operating any events on Company properties.
Supervise the insurance analyst’s receiving and tracking of certificates of insurance from tenants, vendors and other parties to ensure the Company is protected.
Work with CFO to ensure lenders are provided with appropriate documentation in conjunction with all loan closings.
Review and approve for payment all insurance related invoices.
Collaborate with all business units to continuously identify any threat from potential or emerging risks. This includes regulatory, legislative, employment and environmental risks. Investigate and analyze causes, patterns or trends that could result in compensatory damages.
Act as a resource to Family Office for insurance and risk management issues.
Support other departments with education, advice and negotiation related to any insurance matters.
Vice President of Risk Management Qualifications:
Bachelor’s degree in business, Finance, Real Estate or other appropriate degree.
Minimum 10 years’ experience in a similar position or other relevant experience.
Expertise in property and casualty insurance and underwriting, including claims reporting and settlement.
Expertise in understanding of risk issues encountered in complex real estate developments including liability, construction, environmental, regulatory, etc.
Strong analytical and organizational skills and attention to detail.
Excellent communication and interpersonal skills.
Team player focused on process improvement.
Insurance license or other insurance or risk management certification.
What we offer:
Paid Time Off
Holiday pay
Health Insurance
Dental Insurance
401K
Life Insurance and disability
“Our Equal Employment Opportunity Policy: Employment Enterprises, Inc. is an equal employment opportunity employer. We recruit, employ, assign, train, compensate and promote without regard to race, color, sex, age, disability, religion, national origin, marital status, sexual orientation, ancestry, U.S. Veteran status, or any other protected category under applicable law.”
