Insurance Risk Manager for a Leading Real Estate Investment Firm

3 weeks ago


San Francisco, California, United States Palermo Advisors Full time

About Palermo Advisors:

Palermo Advisors is a renowned investment manager that serves its global investors with offices in various locations. We invest across the capital stack, from joint venture equity to senior and mezzanine debt, seeking the best risk-adjusted returns for our investors.

The Role:

We are seeking an Insurance Risk Manager who will be the principal person responsible for insurance procurement and claims management for our real estate investments. The Insurance Risk Manager will serve as the primary resource for the management of standards and policies related to insurance risk management for our company through the day-to-day coordination of internal and external teams.

Key Responsibilities:
  1. Insurance Program Management: Manage insurance programs through defined processes with clear roles and responsibilities; continuously improve programs to be more efficient and effective.
  2. Insurance Procurement: Oversee the procurement of insurance policies, ensuring coverage aligns with organizational needs. Manage renewals, subrogation, and claims handling for various lines of insurance, including but not limited to Property, General Liability, Construction, and Corporate lines.
  3. Risk Exposure and Loss Data Management: Manage collection, analysis, validation, and submission of risk exposure/resiliency/loss data, across all lines of coverage. Identify and collaborate to implement loss mitigation strategies.
  4. Coverage and Cost Management: Work with leaders to make decisions on coverage, costs, and carriers before binding coverage.
  5. Total Cost of Risk (TCOR) Management: Maintain a comprehensive record of total cost of risk (TCOR). Work with internal and external teams to make payments, manage allocations/accruals, update forecasts, monitor reserves, etc.
  6. Contract Review: Oversee review of contracts for insurance-related contractual provisions in partnership with internal and external teams to ensure adequacy of insurance provisions.
  7. Insurance Claims Management: Manage insurance claims, including maintaining status of open claims, identifying ways to mitigate future claims, and analyze the financial impact of claims on the company.
  8. Process Improvement: Troubleshoot and collaborate with other managers to problem solve and advance the processes of the Risk Management function and the Legal Risk & Compliance Group as a whole.
  9. Property Risk Prevention and Loss Mitigation: Maintain and upgrade programs for property risk prevention/response and loss mitigation programs.
  10. Insurance Language Updates: Oversee and implement updates to form insurance language in various agreements.
  11. Risk Management Annual Budget: Establish risk management annual budget.
  12. Training and Development: Conduct training as needed for team members to ensure policy compliance.
  13. Team Management: Manage Risk Management Associate and outsourced Risk Management team members and cultivate as a high performing team that exemplifies company culture.
  14. Relationship Building: Nurture and/or establish solid and trusted relationships with operating partners, insurance partners, lawyers, advisors and other risk management related contacts.
  15. High-Risk Exposures Communication: Ensure timely communication of high risk and potential liability exposures to applicable executives on a regular basis.
Requirements:
  1. Education: Bachelor's degree from a four-year college/university in business or related field.
  2. Experience: 7-10 years of experience in investment management, commercial real estate, insurance, risk management, or related fields with experience in insurance underwriting, policy procurement, and claims handling.
  3. Insurance Designations: Insurance designations, such as Associate in Risk Management (ARM), a plus.
  4. Location: Available for hybrid work in San Francisco or Atlanta.


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