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What is a Construction Director of Risk Management job description?
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♦ Lead the development and delivery of risk management programs to the organization, which includes significant communication and coordination inside and outside the organization.
♦ Manage relationships with third party service providers, including brokers and insurers, to ensure that the interests of the firm and its clients are being properly addressed with respect to the annual insurance renewals and ongoing insurance operations.
♦ Monitor claims, review loss control activities and ensure that insured litigation is being addressed in a manner that minimizes the potential for adverse impact on the firms coverage.
♦ Oversee all insurance renewals, including: blanket tiered property and casualty, business interruption, error and omissions, directors and officers, crime, earthquake, and workers compensation as well as Clients ERISA bond obligations. Manage tiered multi-level insurance programs with primary and excess coverages.
♦ Act as the liaison to attorneys, management companies, insurance companies and individuals, investigating any incidences that may result in asset loss.
♦ Provide strategic guidance/direction in the execution of the firms risk activities.
♦ Prepare loss analyses and budgets identify exposures and recommend solutions.
♦ Develop a complete understanding of Clients business in order to ensure proper coverage and coordinate with senior management in order to ensure constant improvement in risk management procedures.
♦ Prepare insurance language for the firms form contracts and participate in the negotiation of any such insurance clauses to ensure that third parties maintain appropriate coverage to protect the firms and its clients interests.
♦ Regularly review vendor, tenant, borrower and partner insurance requirements, as established in master agreements, and monitor compliance with such requirements.
♦ Manage the collection of insurance certificates required to be provided by tenants, contractors and others pursuant to contractual requirements with respect to the assets managed by our client to establish independent verification of compliance with such requirements.
♦ Manage application process, preparing spreadsheets listing required information, including insurable values, property attributes, etc.
♦ Maintain spreadsheets that summarize all of the coverages, exclusions, and other areas of coverage.
♦ Review pricing of insurance coverage for new acquisitions to ensure reasonableness.
♦ Maintain complete and accurate files related to insurance policies and claims and comply with the organizational framework of Client Company.
♦ Perform these functions without administrative support.
♦ Regular attendance and punctuality.
♦ Be capable of providing clear but brief verbal responses to questions regarding coverage.
♦ Prepare reports to clients on an annual, quarterly and monthly basis.
♦ Be capable of writing comprehensive letters explaining property issues, status, investment strategy and development of guidelines with respect to each property.
♦ Be capable of developing and writing concise business plans.
♦ Undergraduate business degree.
♦ Advanced degree and/or professional designation welcomed.
♦ Minimum of seven to ten years of progressive Risk Management experience in commercial real estate.
♦ Strong analytical skills including the ability to gather and interpret financial data.
♦ Conscientious about assignments and quality of work product.
♦ Accountable for specific performance.
♦ Exceptional written and verbal communication skills, including ability to articulate recommendations in a concise and timely manner.
♦ Able to handle multiple tasks and maintain control and order over same. Added by:-