Senior Manager, Insurance

4 days ago

Camden, United States American Waterworks Full time
Requisition ID: 107451

Share Our Purpose. Be Yourself. Feel Valued.

People are the heart of our business. As an American Water employee, you will be offered a competitive salary and health benefits package, along with opportunities to develop, grow, and evolve your career. Our benefits packages focus on key areas such as health & wellness, emotional & well-being, and savings for current & future goals.

We are Beautifully Different. We strongly believe having diversity across our company makes us more successful and helps us provide essential services to our customers. We are stronger because we embrace different ideas, viewpoints, experiences, and backgrounds. American Water is the best choice for your next role Click here for more information on our inclusion, diversity, and equity journey.

About American Water
American Water (NYSE: AWK) is the largest regulated water and wastewater utility company in the United States. With a history dating back to 1886, We Keep Life Flowing® by providing safe, clean, reliable and affordable drinking water and wastewater services to more than 14 million people across 14 regulated jurisdictions and 18 military installations. American Water's 6,500 talented professionals leverage their significant expertise and the company's national size and scale to achieve excellent outcomes for the benefit of customers, employees, investors and other stakeholders.

As one of the fastest growing utilities in the U.S., American Water expects to invest $40 to $42 billion in infrastructure repairs and replacement, system resiliency and regulated acquisitions over the next 10 years. The company has a long-standing history of executing its core operations, aligned with sustainable best practices, through its commitments to safety, affordability, customer service, protecting the environment, an inclusive workforce and strengthening communities.

American Water has been recognized on the 2023 Bloomberg Gender-Equality Index for the fifth consecutive year, ranked 18th on Barron's 100 Most Sustainable U.S. Companies 2023 List, earned the U.S. Department of Homeland Security SAFETY Act designation and U.S. Environmental Protection Agency's WaterSense® Excellence Award, among additional state, local and national recognitions.

For more information, visit amwater.com and join American Water on LinkedIn, Facebook, Twitter and Instagram.

American Water is hiring for a Senior Manager, Insurance If you are a passionate Insurance professional seeking to begin the New Year in a New Career APPLY TODAY for immediate consideration

Primary Role

This role is responsible for the management of American Water's overall insurance programs, including but not limited to:
  • Property and Casualty: Auto Liability, General Liability, Workers' Compensation, Property, Cyber.
  • Executive Lines: Directors' & Officers' Liability, Employment Practices Liability.
  • Financial Lines: Surety Bonds, Fiduciary Liability.
This position will own and lead the insurance function as a subject matter expert partnering with a variety of internal and external business areas.

This role will mature the Insurance program with these three key long-term goals:

(1) Make insurance a frictionless experience;

(2) Buy the "right" insurance at the "right" price with the "right" insurers; and

(3) Mature from insurance purchase to strategic risk-sharing with insurers.

Key Accountabilities

Insurance Placements: Manage the development, implementation, and administration of company's insurance programs.
  • Lead annual insurance renewals including:
  • Applications, underwriting submissions, and renewal presentations.
  • Renewal planning reports for management.
  • Negotiations with insurance carriers.
  • Final renewal proposals for management approval.
  • Ensure insurance appropriateness based on enterprise risk guidelines.
  • Cultivate strong relationships with insurance underwriters, brokers, and all external third parties to position American Water as a "preferred risk."
  • Act as primary point of contact for the Company's insurance brokers for all insurance-related concerns.
  • Oversee all renewal applications and ensure accurate exposure data is collated & reported to all brokers & underwriters.
  • Analyze marketing strategies, premium quotations, program structures and insurance policies.
  • Ensures the production of accurate and reliable underwriting data, facilitating strategy meetings, evaluation and adequacy of new insurance programs.
Claims Oversight: Support and collaborate with the Claims and Risk Management/Insurance teams manage the Total Cost of Risk (TCOR).
  • Provide feedback loop to the Claims team regarding large and complex claims impact to the insurance programs.
  • Coordinate aspects of complex, sensitive, and non-traditional claims (i.e., Employment Practices, Cyber, Directors' & Officer's and others as needed).
  • Provide strategic input to claims management and participate in special projects as needed.
Contractual Risk Transfer: Lead all programmatic aspects of the enterprise Contractual Risk Transfer program resulting in an efficient, transparent, and seamless/frictionless experience:
  • Supplier-facing: Define, lead, and manage all aspects of standardized supplier-facing contractual risk transfer protocols based on enterprise risk guidelines.
  • Customer-facing: Define, lead, and manage all aspects of standardized customer-facing contractual risk transfer protocols in compliance with internal risk-transfer protocols.
  • Regulator-facing: Define, lead, and manage all aspects of standardized regulator-facing contractual risk transfer protocols to in compliance with regulatory and internal risk-transfer protocols.
  • Partner with internal matrix partners (Supply Chain, Procurement, Legal, etc.) as well as external matrix partners (brokers) to effectuate an effortless and self-sufficient Contractual Risk Transfer program.
  • Lead and facilitate a center of excellence for all contractual requests including standardized processes for Certificates of Insurance, Railroad Professional Liability, and other contract review inquiries.
Risk Analysis and Intelligent Insurance Purchasing: Partner with Operations Excellence, Engineering, Operations, and 7+ internal stakeholders to conduct analyses of potential loss exposures to determine appropriate type and level risks to be insured.
  • Lead all analytical processes to find opportunities for cost-effective insurance purchase for previously uninsured losses.
  • Conduct routine analyses of uninsured and uninsurable exposures to American Water's balance sheet.
  • Ensure Property Statement of Values (SOV). Update for acquisitions & dispositions and reporting to property insurers.
Knowledge/Skills
  • Excellent written & verbal communication skills.
  • Excellent verbal negotiation skills.
  • Excellent presentation skills with the ability to provide "state of the company" updates to external stakeholders & executives.
  • Structured problem-solving approach with demonstrated aptitude for analytical and conceptual problem-solving.
  • Ability to work collaboratively with people at all levels in an organization.
  • Deep understanding of Property, Casualty, and Financial Lines of insurance.
  • Knowledge of insurance markets and industry trends.
  • Familiarity with internal regulatory compliance (e.g., Sarbanes-Oxley, Internal Audit).
  • Experience with contract reviews, insurance certificate management, and claims handling.
  • Strong understanding of loss control, risk analysis, and cost-benefits
  • Familiarity with external regulatory compliance( e.g Contractual, Federal & State Regulations, Public Utility Commission requests, etc)
Experience/Education
  • Bachelor's degree in Insurance, Risk, Finance, or similar areas.
  • Master's degree in a relevant field is advantageous.
  • A Juris Doctor (JD) or similar legal professional degree is advantageous and considered in lieu of experience.
  • 5-8 or more years in insurance company, broker, or corporate risk transfer function with responsibility for insurance program or claims management, administration, or oversight.
  • Experience as a corporate risk manager or insurance buyer with a large, publicly traded firm
  • Experience as an insurance broker or a corporate risk transfer lead.
  • Prior experience leading and managing individuals and teams including training and development of Insurance analysts.
  • Experience with underwriting or similar corporate functions within the insurance industry or in a similar industry.
  • Proficiency with Microsoft products and knowledge of eCARMA and RISKTRAC or other analytical claims software.
  • Broad understanding of insurance policy coverages, terms, conditions and exclusions.
  • Knowledge of and experience with water utility and related services business risks is preferred but not required.
  • Knowledge of federal, state and local laws, regulations and tariffs applicable to utilities.
Travel Requirements
  • Up to 20% - nationwide and outside the US at least 1-2 times annually.
Certificaions & Licenses
  • Active State Driver's License Required with the ability to pass a motor vehicle report.


Competencies

Decision Quality
Develops Talent
Drives Engagement
Plans, Aligns, & Directs
Prioritizes & Role Models Safety
Self-Awareness

Join American Water...We Keep Life Flowing™

American Water is firmly committed to Equal Employment Opportunity (EEO) and prohibits employment discrimination for employees and applicants based on his or her age, race, color, pregnancy, gender, gender identity, sexual orientation, national origin, religion, marital status, citizenship, or because they are an individual with a disability, protected veteran or other status protected by federal, state, and local laws.

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