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Director of Risk Management
3 weeks ago
Director of Risk Management
Job Summary
The Director of Risk Management is responsible for developing and executing an integrated risk strategy that protects the organization's people, assets, and financial performance across all business lines including development, construction, investment, and property management. This role leads a proactive, collaborative approach to risk identification, assessment, management, and mitigation, partnering closely with departments across the organization. Key focus areas include employee and visitor safety, protection of physical and financial assets, continuity of operations, loss control, and the administration of all operational and development-related property and casualty insurance programs.
Responsibilities
- Manage all insurance programs including OCIP, general liability, builder's risk, property, cyber, D&O, bonds, and related coverage.
- Oversee insurance marketing, applications, renewals, and negotiations in coordination with brokers and carriers.
- Serve as the primary liaison to brokers, carriers, underwriters, claims adjusters, attorneys, and external partners.
- Review coverage for adequacy, evaluate cost/budget impacts, and recommend enhancements or additional lines of coverage.
- Develop and maintain standards for indemnification, hold harmless agreements, and insurance requirements.
- Evaluate risk transfer versus retention options and explore alternative funding mechanisms.
- Maintain all insurance policies including endorsements and additions.
- Oversee the Certificate of Insurance (COI) process, ensuring accuracy and compliance with required language and limits.
- Monitor industry and organizational changes to ensure coverage remains appropriate and comprehensive.
- Review acquisitions for loss trends, risk issues, and proper insurance structure.
- Partner with internal stakeholders and brokers to develop insurance budgets for operational assets and development projects.
- Provide consultative risk guidance to departments to support operations while reducing exposure.
- Meet with teams to identify risks, analyze historical loss trends, and develop mitigation strategies.
- Assist with contract reviews including insurance requirements and releases.
- Create and deliver risk awareness and safety training for employees and leadership.
- Lead business continuity planning, conduct related training, and update plans as organizational needs evolve.
- Advise on liability concerns including employment practices, injuries, and property damage.
- Conduct investigations into incidents and loss control matters.
- Work with internal leadership and legal counsel to strengthen policies and procedures that reduce risk.
- Monitor industry trends and engage with peer organizations to assess emerging exposures.
- Coordinate with public agencies and support site visits as required.
- Submit claims and notify carriers according to policy requirements.
- Conduct claim investigations, site visits, and interviews to ensure accurate reporting and identify corrective measures.
- Collaborate with legal counsel on claim defense and settlement efforts.
- Participate in Workers Compensation claim reviews and work with HR to identify trends and reduce preventable injuries.
- Represent the organization in mediations, arbitrations, and other pre-trial activities.
- Support pre-litigation investigations and construction or tenant-related claims.
- Review and negotiate insurance-related lender requirements for operational and development assets.
- Ensure compliance with loan covenants and collaborate with internal partners on documentation.
- Coordinate with Procurement to confirm vendor compliance with required limits and endorsements.
- Maintain the roster of authorized drivers and ensure timely processing of motor vehicle reports.
- Provide staff guidance on risk management processes, requirements, and procedures.
- Address inquiries regarding insurance and risk programs and communicate effectively across the organization.
- Work with Finance to ensure timely and accurate premium coding and payment.
- Bachelor's degree required.
- Minimum of 10 years of experience in risk management, insurance, or a related field, preferably within real estate or construction.
- Strong negotiation and analytical capabilities.
- Demonstrated commitment to customer service with excellent interpersonal skills.
- Exceptional written and verbal communication skills.
- Experience with insurance, finance, legal concepts, loss control, claims management, and risk information systems.
- Professional designations such as CPCU or ARM preferred.
- Strong ability to communicate clearly and concisely in both written and verbal forms.
- Working knowledge of risk management principles, insurance practices, workers compensation, and loss control.
- Proficiency in Microsoft Office applications including databases and spreadsheets.
- Ability to analyze financial, technical, and incident data and recommend corrective actions.
- Experience delivering training to employees at various levels.
- Understanding of emergency management and business continuity practices.
Disclaimer: Please note that this job description may not cover all duties, responsibilities, or aspects of the role, and it is subject to modification at the employer's discretion.
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