The Director of Risk Management is responsible for assisting with overall management of comprehensive corporate risk management/insurance program with a concentration on risk identification, risk avoidance, risk transfer and riskretention techniques. Coordinates closely with accounting, operations/project management, safety, human resources, legal and estimating while implementing risk management policies and procedures to protect company's assets, minimize liability exposures, and achieve company goals and objectives.
Responsibilities include, but are not limited to:
As a member of the KBE’s Management team:
- Understand, cultivate and support all aspects of the Strategic Plan through providing vision, planning and the overall “big picture” to the organization;
- Participate in overall corporate planning and budgeting activities for Legal and Risk Management in CT;
- Recommend and facilitate organizational changes within the department when necessary;
- Work to “Cultivate Our People” by actively training and mentoring members of the Legal and Risk Management department and provide input into training programs;
- Hold KBE Associates accountable to maintaining strong subcontractor relationships in accordance with KBE values;
- Strive to become a participant and leader in the construction industry and communities through attending industry groups, trade shows and community events;
- Communicate frequently; be available to all staff to ensure proper dissemination of appropriate information and ensure alignment of goals and efforts;
- Participate in outside activities and/or associations to make or improve in house/customer/vendor relationships;
- Donate time on behalf of company for charitable organizations.
Insurance and Contracts
- Manage day-to-day interaction between all project participants, brokers and insurers related to risk management and insurance issues.
- Manage all aspects of contract review as relates to insurance and bonds issues, including coordination of contract review with legal.
- Analyze and understand insurable risks and potential risk mitigation opportunities; interact with operational groups to ensure coordination between project activities, exposures, and appropriate insurance coverage.
- Review, initiate and direct the appropriate insurance coverage and pricing for all new bids and projects.
- Work with client/owner insurance representatives to ensure proper placement and coordination of any project specific insurance policies.
- Lead communication efforts with broker and surety company to facilitate timely delivery of project- specific performance and payment bonds.
- Manage master Builders Risk program, including reporting and premium allocations.
Insurance Program Management
- Review and analyze terms and conditions associated with proposed Controlled Insurance Programs (OCIPs and CCIPs); function as liaison between all participants.
- Receive and review incident reports, and prepare and send notices of tender to subcontractors and carriers to trigger applicable defense, indemnity, and additional insured coverages for actual or potential claims.
- Follow up with required information. Implement coverage reviews or declaratory proceedings in the event of carrier or defense/indemnification non-compliance.
- Assist with management of corporate Subcontractor Default Insurance program including coordination with internal teams, external sales discussions, and management of broker and insurer relationships.
- Analyze and provide appropriate prequalification feedback on subcontractor partners.
- Oversee internal claim management efforts (workers compensation, general liability, automobileliability, builders risk, other) to include oversight of third party administrators, insurers, and defense attorneys.
- Review and analyze loss control and trending reports, and coordinate with Safety to develop appropriate action plans.
- Assist with subcontractor prequalification program.
- Assist with establishing insurance-related subcontract terms, including minimum insurance types and limits.
- Review subcontractor insurance certificates and policies for compliance, with assistance from outside consultants.
Business Results and Compliance
- Maintain knowledge of trends in construction insurance industry, including thorough working knowledge of insurance products, coverage and pricing.
- Assist with compilation and development of data for annual renewal of corporate property and casualty insurance program, including management of brokers, approval of submissions, and negotiation of terms and premiums.
- Assist with budgets, forecasts and financialreports, including the analysis of annual insurance premiums, financial performance of insurance programs, and determination of billing rates and premium allocations.
- Work closely with Corporate training programs to identify educational needs, and assist with presentations and sessions focused on insurance and risk issues.
- Assist with internal communication and advertising strategies related to all risk management initiatives.
- Know and understand thoroughly the coverage's and exclusions of all insurance policies, bonding programs, broker agreements and other related contracts.
- Track and participate in litigation and claim resolution strategies, including bond claims and liens.
Perform other duties as assigned.
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required:
- Bachelors’ degree in Accounting, Business Administration, Insurance or related field.
- Contract Controlled Insurance Programs (OCIPs and CCIPs) certification/experience
- Insurance, Risk Management, Surety broker experience, and constructionfinance/accounting experience a strong plus.
- Excellent analytical, organizational, interpersonal, verbal and written communication skills.