OverviewAIG Inc.'s Corporate Insurance Department is responsible for mitigating the Company's operating exposures by maintaining insurance programs and bonds to manage risk at acceptable levels. The Insurance Risk Manager works closely with AIG's business units internally and externally with brokers, vendors and nonaffiliated insurance companies to transfer the risk of loss by purchasing insurance with an objective to maintain expenses, including the retained loss costs, at reasonable levels and in line with the Company's risk appetite.
Corporate Insurance Department also delivers evidence of insurance, advice and consultation on specific insurance programs, evaluation of risk with mapping to insurance and claims management. AIG's business units are customers and stakeholders that we serve.
Summary of Responsibilities:
- Analyze and assess the impact of risks of loss arising out of AIG's business operations
- Stay abreast of Company's business and operational changes impacting the insurance risk
- Assist with coordination, and negotiation of insurance placements for AIG, subsidiaries and affiliates as assigned. Review invoices, binders and policies for accuracy
- Proactively lead AIG's U S Casualty large deductible structured insurance program which includes oversight of monthly, quarterly and annual transactions; deductible liability analysis quarterly and annually with actuary and Global Head of Corporate Insurance and communication with financial reporting
- Prepare insurance risk reports: Casualty insurance loss runs with analysis, track changes in Company's exposure impacting ins rate; profit & loss statements, and insurance expense budget estimates with appropriate support
- Deliver presentations for internal and external audiences on AIG's corporate insurance programs, operations, and risk management programs
- Review AIG service provider/vendor, special events and real estate contracts to assess the operational risks and advise on the appropriate amount and type of insurance recommended. Provide insurance guidance in line with indemnity and hold harmless sections or the contract
- Review COI and/or policies if needed to assist Company's business unit
- Communicate and manage a smooth insurance transition to AIG's corporate insurance programs on mergers and acquisitions and off AIG's corporate programs on divestitures
- Annually assess controls in place for managing risks arising out of Corporate Insurance department's operations and processes. Develop and propose solutions to address accordingly to AIG's Global Head of Corporate Insurance
- Uphold and adhere to AIG, Inc.'s corporate policies. This includes but is not limited to Records, Information and Management Policy with standards, Insurance Purchasing Policy with standards, and Auto Vehicle Use Policy
Job Requirements: - Bachelor's Degree in Risk Management, Finance, or related quantitative field of study
- Must have 5+ or more years work experience in Property & Casualty insurance industry - functioning as insurance risk manager, underwriter, claims analyst, insurance broker, or insurance consultant
- Comprehensive working knowledge of insurance coverage in Property & Casualty and Financial lines
- Ability to work both independently with little supervision as well as work in a team dynamic
- Proficiency in the following skills: analytical, organization, prioritization, decision making, negotiation, interpersonal, influence without authority, advocacy, and business communication
- Must be completely proficient with Excel
- Ability to develop, cultivate, and maintain excellent relationships within, and external to, the Company
The base salary range for this position is $130,000-$160,000 and the position is eligible for a bonus in accordance with the terms of the applicable incentive plan. Your actual compensation will be dependent on your skills, experience, and qualifications. In addition, we're proud to offer a range of competitive benefits, a summary of which can be viewed here: US Benefits Overview."
At AIG, we value in-person collaboration as a vital part of our culture, which is why we ask our team members to be primarily in the office. This approach helps us work together effectively and create a supportive, connected environment for our team and clients alike.
Enjoy benefits that take care of what mattersAt AIG, our people are our greatest asset. We know how important it is to protect and invest in what's most important to you. That is why we created our Total Rewards Program, a comprehensive benefits package that extends beyond time spent at work to offer benefits focused on your health, wellbeing and financial security-as well as your professional development-to bring peace of mind to you and your family.
Functional Area:
RK - Risk
AIG Employee Services, Inc.
