Chief of Risk Management and Insurance
22 hours ago
We are seeking a highly experienced and skilled Chief of Risk Management and Insurance to join our team at NJ TRANSIT. As a key member of our organization, you will be responsible for directing the investigation and identification of loss exposure and measures financial risks.
Key Responsibilities:
- Directs the investigation and identification of loss exposure and measures financial risks.
- Anticipates frequency and severity of occurrence as they relate to injury to NJ TRANSIT employees covered under the Federal Employers Liability Act (FELA) and the Workers Compensation and Disability Act.
- Directs decisions regarding NJ TRANSIT's corporate insurance program, including property, excess liability, workers compensation, employment practices, and fiduciary liability insurance coverage.
- Serves as primary contact for all insurance program negotiations, including NJ TRANSIT's relationships with insurance companies, outside brokers, and third-party service providers.
- Directs all aspects of loss control, claims investigation, evaluation, and negotiation, and activities of defense counsel in litigated and non-litigated actions.
- Primary and sole authority for settlement of all claims up to the amount subject to the Board of Director approval amount, managing all claim reserves and determining which cases warrant presentation to the NJ TRANSIT Board of Directors.
- Directs the Monthly Bus and Rail Claim Review Committee Meetings for third-party and FELA claims.
- Presents Claim Board Items, the Annual Corporate Insurance Renewal Budget Board Item, the Corporate Insurance Broker/Other Broker Board Item, and any other Risk Management/Claims related Board Item to the NJ TRANSIT Board of Directors.
- Directs all Risk Management and Claim items involved in the annual external audit or any other external or internal audit.
- Directs the review and negotiations of insurance and indemnification provisions in contracts between NJ TRANSIT and third parties, including other transportation agencies, commercial tenants, governmental entities, and business partners.
- Directs department budgetary decisions, including review and approval of contracts regarding insurance and indemnification matters, selection of outside experts and vendors, personnel selection and hiring decisions, and purchasing of goods.
- Initiates dialogue and implements policies and procedures regarding risk management issues with internal and external individuals and entities, including NJ TRANSIT's Executive Policy Group, the Governor's Office, the Governor's counsel, the New Jersey Attorney General, NJ TRANSIT's Office of General Counsel, the New Jersey Department of Transportation, and insurance brokers and underwriters.
- Directs all aspects of ARH III Captive Insurance Company activities, including but not limited to the insurance program, claims, policies, audits, investments, annual report, and annual board meeting.
- Acts as an officer of ARH III (Vice President), board member, investment committee member, and in-person attendee (if required) for the annual meeting of the Board of Directors.
- Directs all Employment Litigation matters in coordination with the Attorney General's Office, EEO, outside counsel, and Company Executives.
- Assists Bus Labor Relations with the UWUA Contract negotiations.
- Directs all Insurance Property Claims, excess Insurance Liability, and excess Workers Compensation Claims made on behalf of NJ TRANSIT from notice of claim to final resolution.
Requirements:
- Bachelor's Degree and fifteen (15) or more years of progressive managerial experience in risk management; corporate insurance management, and claims litigation and administration.
- Significant experience with implementing, evaluating, overseeing, and managing a large corporate insurance program is required.
Knowledge and Skills:
- In-depth knowledge and technical understanding of various insurance coverages and existing relationships in the insurance industry is required.
- Knowledge of risk management claims and litigation procedures in New Jersey, including first-party claims, third-party claims, and collection recovery procedures; N.J.S.A. Title 59 (NJ Tort Claims Act); Federal Employers Liability Act (FELA) statutes, and Workers Compensation and Disability Act statutes is required.
- The ability to interpret and create contracts, review insurance policies, evaluate and create coverage and exclusions is required.
Working Environment:
Office/Remote/Field
Physical Demands:
None
Benefits:
Comprehensive Family Health Insurance, Medical, Prescription, Dental, Vision, Flexible Spending Account, Life Insurance, Paid Leave, Tuition Assistance, Pre-Tax Commuter Benefits Plan, Retirement Plans, 401(a) - Retirement plan with a 6% employer contribution, 401(k) - Retirement saving plan with up to an 3% company match, 457(b) - Deferred Savings Plan
Please be advised that this position is subject to the requirements of Executive Order No. 2 (Murphy, Jan. 17, 2018). If you are selected for this position and accept the offer of employment, you will be required to file a Financial Disclosure Statement (FDS) annually and your FDS will be posted online.
Additional information is available online at https://www.njtransit.com/.
At NJ TRANSIT, diversity and inclusivity are vital to our success, and we are committed to hiring individuals from diverse backgrounds, experiences, abilities, and veteran status. As an Equal Opportunity Employer, we encourage all qualified applicants to apply and join our team.
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