Senior Risk Manager - Lockton : Job Details

Job Summary: Role Overview: We are seeking an experienced and motivated individual to join Lockton as an Insourced Risk Manager for a large private equity real estate client. In this role, the Risk Manager will be employed by Lockton within the Private Equity Real Estate (PERE) team however will be dedicated to the client as part of the client's insourced risk management team. This person will report to the client's internal risk management team. This position necessitates working from Lockton's offices in New York, Boston, or Washington D.C. There will be some domestic travel required between the client's offices. About Lockton Northeast: For the Northeast Series, you'll find our people in the metropolitan areas spanning Washington DC, Philadelphia, New York City, Hartford, Norwalk, Boston, and Portland ME. With our unmatched work ethic, and an ability to go above and beyond to make a difference for our clients, the Northeast continues to experience double-digit (organic!) growth. We offer a flexible & hybrid work environment that allows our Associates to split their time between in-person and remote. Duties and Responsibilities: The Risk Manager will provide direction and oversight of risk management at a corporate and national level for development and operational assets. This person will work within an existing insourced risk management team on both developmental projects and stabilized properties. This individual will drive strategy enforce compliance, andimprove internal processes to mitigate future loss and risk. Duties and responsibilities will include:

• Support the procurement and negotiation of Builder's Risk and Liability insurance programs for all development projects
• Create, develop, and implement policies and procedures to manage risks, including contract review and negotiation, document management, and policy placement
• Conceptualize and manage adjustments to current methods of operation to implement policies and procedures and minimize risk
• Review markets to determine competitiveness of the current insurance programs while maintaining knowledge of trends in construction and development insurance industry, including thorough knowledge of insurance products, coverage, and pricing. Integrate knowledge into existing processes or create new process if needed.
• Maintain compliance records related to third party insurance requirements
• Evaluate and negotiate contracts to ensure compliance with established standards
• Oversee enrollments, contracts, and all related compliance matters.
• Coordinate, analyze, and understand terms and conditions associated with proposed construction and management projects, insurable risks and potential risk mitigation opportunities
• Educate and assist operational groups to ensure coordination between project activities, exposures, and appropriate insurance coverage.
• Implement risk management practices for the client in accordance with their established processes for: Business Continuity Management, Emergency Response, Enterprise Risk Management, ESG, Sustainability.

Requirements:

• Bachelor's degree in a business-related field, or equivalent education and experience
• Minimum 10 years insurance and / or risk management experience in the Real Estate development industry
• Strong understanding of real estate development and related insurance and risk management practices.
• Direct experience with contract review and negotiation specific to the insurance and indemnity sections of construction contracts, joint venture agreements, loan documents, and other legal agreements.
• The ability to provide guidance on insurance requirements to the executive teams, counsel, asset managers, clients, and business partners.
• General knowledge of legal and compliance; experience working directly with legal counsel
• Working knowledge of all lines of insurance - including policies, coverages, limits, and fundamentals
• Excellent analytical, organizational, interpersonal, communication, and critical thinking skills
• Administrative and organizational skills critical; excellent time management skills, flexibility, and management of a variety of tasks simultaneously
• Reliable and thorough with a deep commitment to accuracy
• Excellent client service skills with the ability to develop sound relationships with internal and external stakeholders at all levels of the organizations