Risk Manager

Job Summary
The Risk Manager is responsible for protecting the company's assets, profitability, and reputation by identifying, assessing, managing, and mitigating risks across the organization. This hands-on role involves the comprehensive oversight of the company's risk financing strategy, including its captive insurance program and commercial insurance placements. Responsibilities encompass managing third-party and contractual risk, leading claims management activities within the captive structure and beyond, and ensuring regulatory compliance. The Risk Manager will collaborate closely with operations, safety, finance, project management teams, and external partners (including captive managers and actuaries) to embed effective risk management practices throughout the business.

Key Responsibilities:

Insurance Program & Captive Management:

• Oversee the strategy, structure, performance, and administration of the company's captive insurance program, including setting retention levels and coordinating reinsurance placements.
• Manage relationships with insurance brokers, captive managers, actuaries, third-party administrators (TPAs), carriers (for excess/reinsurance coverage), and other essential service providers.
• Actively participate in captive governance, including board meetings (if applicable), strategic planning, performance monitoring, and ensuring alignment with corporate objectives.
• Coordinate with finance and captive managers on capitalization, funding mechanisms, reserving practices, collateral requirements, and financial reporting for the captive.
• Analyze actuarial reports to understand loss projections, funding adequacy, and inform risk financing decisions.
• Oversee the procurement, negotiation, and placement of commercial insurance policies (e.g., excess liability, specific coverages outside the captive) to supplement the captive program.
• Ensure timely and accurate data collection and submission for captive operations, renewals, audits, and policy administration.

Contractual & Third-Party Risk Management:

• Review and analyze insurance and indemnification provisions within construction contracts, subcontracts, purchase orders, and other agreements to identify risks and ensure adequate risk transfer, aligning requirements with the captive program structure where appropriate.
• Advise project management and estimating teams on contractual risk matters during bidding and negotiation phases.
• Develop, implement, and manage the company's Certificate of Insurance (COI) compliance program for subcontractors and vendors, ensuring adherence to company and project requirements.
• Assess and mitigate risks associated with subcontractors, suppliers, and other third parties.

Claims Management:

• Oversee the entire claims management process, particularly for claims within the captive's retained layer, coordinating closely with TPAs, adjusters, and legal counsel from initial report through resolution.
• Manage the interface and reporting process for claims that potentially impact excess insurance layers.
• Analyze claims data specific to captive performance and overall loss trends to identify root causes, implement targeted loss control measures, potentially assist in allocating costs, and minimize the total cost of risk.
• Actively participate in claim reviews and settlement negotiations to achieve fair and cost-effective outcomes, protecting the captive's financial health.

Risk Assessment & Mitigation:

• Identify potential operational, financial, safety, legal, and reputational risks associated with company operations and specific construction projects.
• Develop, recommend, and implement risk mitigation strategies, policies, and procedures, leveraging insights from captive loss data.
• Collaborate with the Safety Department to align loss prevention efforts and promote a strong safety and risk-aware culture.
• Conduct risk assessments for new ventures, projects, or operational changes.

Compliance & Reporting:

• Ensure compliance with insurance policy terms, industry regulations, contractual obligations, and captive domicile regulations and reporting requirements.
• Maintain organized and accurate risk management records, including policies, claims files, compliance documentation, captive governance documents, and related financial information.
• Prepare regular reports for senior management on risk exposures, captive performance metrics, overall insurance program performance, claims status, and loss trends.

Interpersonal Skills

• Work with cross-functional teams to obtain support and prepare/maintain comprehensive documentation in support of month-end close
• Communicating relevant deadlines / milestones to team members and ensuring that team members can meet their respective deadlines.
• Excellent written and verbal communication and interpersonal skills

Physical Demands

• Mobility: Primarily office-based.
• Sitting and Standing: The role typically involves prolonged periods of sitting at a desk, working on a computer, and attending meetings.
• Manual Dexterity: Requires the ability to operate standard office equipment such as computers, phones, and printers.

Work Environment

• Office Setting: Most of the work is performed in a standard office environment, which is usually climate-controlled and well-lit.
• Meetings and Presentations: Regular participation in meetings and presentations, both in-person and virtually, necessitating strong communication and public speaking skills.
• Confidentiality: Managing sensitive information requires maintaining a high level of discretion and confidentiality.

EEO

We are an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability status, protected veteran status, or any other characteristic protected by law.

Job Type: Full-time

Pay: From $100,000.00 per year

Benefits:

• 401(k)
• Dental insurance
• Health insurance
• Paid time off
• Vision insurance

Work Location: In person

Salary : $100,000